Personal selling and Competition: 12 Its organization and compensation methods. * The American Marketing Association defines marketing as, At the last stage, profits start to decline. Personal Selling Process – Identifying the Prospective Buyer, Pre-Approach, Approach, Presentation, Demonstration, Overcoming Objection, Closing and a Few Others; Personal Selling Process – Prospecting, Evaluating, Approaching the Consumer, Preparing for the Sale, Making the Presentation, Overcoming the Objection and a Few Others Marketing and sales differ greatly, but have the same goal. The "five stages of grief" is a set of emotional stages human beings go through during the grieving process. Thus, follow up is necessary if the salesperson wants to ensure repeat purchase. 2. The first step of the personal selling process is called ‘prospecting’. Personal selling allows the marketer to communicate directly with the prospect or customer and listen to his or her concerns, answer specific questions, provide additional information, inform, persuade, and possibly even recommend other products or services. 7. Scene 3: OLD FIRM, NEW PRODUCT-SERVICE 14 The personal selling process is a 7 step approach: prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, and follow-up. Prospecting is all about finding prospects, or potential new customers. This will enable the firm to produce products that match with prospect needs and wants thus it will be easy for the, as the stage, and goods as props, to engage individual customers in a way that creates a memorable event. Each step of the process has sales-related issues, skills, and training needs, as well as marketing solutions to improve each discrete step. Explain the marketing concept Personal selling only helps to acquire the customers but also to grow and retain the customers. This is the first stage of every sale. While personal selling positions have been categorized into taxonomies, a longitudinal view of how selling jobs change or evolve has not yet been provided. Planning the sales call (pre-approach) This activity is important because marketing students should be aware that finalizing a sale is only a stage in the ongoing personal selling process. Stage One - Prospecting. Many sales representatives rely on a sequential sales process that typically includes nine steps. 3. If the buyers remain undecided, they may be guided in making the choice of the product. Each layer adds more customer value, and the five levels are: A Five Stage Personal Selling Process. The Nature of Personal SellingTo integrate the PS effort into the overall promotional program, we must understand the nature of this tool.Wotruba has identified five distinct stages of personal selling evolution:1. Challenges in Personal Selling Personal selling involves face-to-face contact with a customer. A Five Stage Personal Selling Process. It also helps to obtain necessary information about the market and pass on the same to the producer. The rep asks questions, listens to buyer concerns and recommends the right product or service solution. Approach: The salesperson should properly approach the prospects. Stages of the selling process 9 Attention. 3, point in the selling process, personal selling usually becomes involved. searching names by examining data sources such as newspapers, directories, CD-ROMs etc. 2. Prospecting is all about finding prospects, or potential new customers. When you identify their responsibilities, interests, and needs, you take one giant leap for saleskind. After knowing the important particulars about the prospects, the salesperson should set call objectives. The core benefit—the service or benefit the customer is really buying; Features narrate physical characteristics of a market. But the audience with the customer should Scene 2: NEW UNKNOWN FIRM AND OLD, ESTABLISHED PRODUCT CONCEPT 14 For example, 'You need product X in blue, by Friday, packaged accordingly, and delivered to your wife 's office. ' Not only the product lifecycle, the environment elements like social and cultural aspect should be concerned when companies set their marketing objectives. The need-satisfaction approach starts with a search for customer’s real needs. The personal selling process consists of a series of steps. The salesperson should qualify the prospect, collect information and make an immediate sale. Companies generate leads in the following ways: 2. To what extent are the ‚Äòself‚Äô and ‚Äòidentity‚Äô separate from society? He may give details about delivery time, purchase terms and mode of payment of price, etc. You can have the best or most innovative products or services, but if your internal and external communications are weak, then the demand for your products or services raises a personal flag of concern. The stages in personal selling are briefly explained below. At this point your only goal is to get the prospect’s attention so that you can determine what kind of product or service best fits their needs. But personal selling must not be overlooked: it remains an extremely important part of a salesperson’s arsenal and is a skill every good salesperson must master. Advantages & Disadvantages of direct distribution method of services, Customer Relationship Management | Meaning | Objectives, Indirect Distribution | Roles of service intermediaries, Challenges in distributing services through electronic channels, Weaknesses of Trade Union Movement in India and Suggestion to Strengthen, Audit Planning & Developing an Active Audit Plan – Considerations, Advantages, Good and evil effects of Inflation on Economy, Vouching of Cash Receipts | General Guidelines to Auditors, Audit of Clubs, Hotels & Cinemas in India | Guidelines to Auditors, Depreciation – Meaning, Characteristics, Causes, Objectives, Factors Affecting Depreciation Calculation, Inequality of Income – Causes, Evils or Consequences, Accountlearning | Contents for Management Studies |. Personal selling is the most expensive, Pre-approach phase, this is the second step where by after identifying prospects in the prospecting stage now sales professionals should find a way to know what their customers prefer much, how they behave, what are their needs and wants. A Five Stage Personal Selling Process. The sales process can be used in face-to-face encounters and in telemarketing. Discuss and define marketing and how advertising relates to marketing strategy Follow-up and maintenance: Immediately after closing the sale, the salesperson should take some follow up measures. Stage One – Prospecting. Outline the four tools of marketing and explain advertising’s relationship to them By Wayan Vota on October 22, 2009. Objection handling. Identifying Stages in the Personal Selling Process. 1. Prospects should be qualified, which meansthat they need to be assessed to see if there is business potential, otherwise you could be wasting your time. He should also decide on the best approach which may be a personal visit, a phone call or a letter. Personal selling should be part of a wider sales mix, alongside telesales, email marketing, sales promotion, advertising, and public relations. 3. 1. They can ask for the order by drawing the attention of the customers towards colour, size or type of the product. It is seen that in some cases, despite knowing some shortcomings of a product, customer tend to purchase it simply because of personal relationship with the seller. Personal selling can take place through two different channels – through retail and through direct-to-consumer channel. In retail, sales representatives interact with customers who come to the business in pursuit of products or services. Prospects should be 'qualified, ' which means that they need to be assessed to see if there is business potential, otherwise you could be wasting your time. 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