MKTG 471 Chapter Notes - Chapter 7: Sales Promotion, Job Satisfaction, Takers
19 May 2018
School
Department
Course
Professor
Marketing 471 - Personal Selling and Sales Promotion
Personal Selling
Paid personal communication that attempts to inform customers and persuades them to buy
products in exchange situation
Millions of people earn living through this
(flexible hours, high earnings, degree of job satisfaction, tech makes it faster)
Advantages of personal selling
Provides marketers that greatest freedom to adjust a message to satisfy customers
Most precise of all promotional methods, enables marketers to focus on the most promising
sales prospects
Disadvantages of Personal Selling
Disadvantage of personal selling is that is most expensive element in the promotion mix
General Steps in the Personal Selling Process
1.Prospecting
2. Pre approaching
3. Approach
4. Making the Presentation
5. Overcoming objections
6. Closing the sale
7. Following Up
find more resources at oneclass.com
find more resources at oneclass.com
Prospecting
A data base of potential customers
(sales records, trade shows, databases, trade association directories)
Traditional and online advertisements can generate leads on prospects, customer referrals from
current customers are key source
Pre-approach
Before contacting, analyzes information about needs
Key decision makers, review account histories and problems, contact other clients for info,
credit histories and problems, prepare sales presentations, identify product needs, obtain
relevant literature
Approach
Manner in which a salesperson contacts a potential customer
Critical step because the first impression of sales person may be long lasting
Sales person create relationship (referrals, cold canvassing, repeat contact)
Making the presentation
Sales person attract and hold attention, stimulate interest in and desire for product
Adapt presentation to needs of prospect (influencing tactics matched to prospects)
Overcoming Objections
Anticipate and counter objections before they are raised , safest approach is to be prepared
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Marketing 471 - personal selling and sales promotion. Paid personal communication that attempts to inform customers and persuades them to buy products in exchange situation. Millions of people earn living through this (flexible hours, high earnings, degree of job satisfaction, tech makes it faster) Provides marketers that greatest freedom to adjust a message to satisfy customers. Most precise of all promotional methods, enables marketers to focus on the most promising sales prospects. Disadvantage of personal selling is that is most expensive element in the promotion mix. 1. prospecting: pre approaching, approach, making the presentation, overcoming objections, closing the sale, following up. A data base of potential customers (sales records, trade shows, databases, trade association directories) Traditional and online advertisements can generate leads on prospects, customer referrals from current customers are key source. Key decision makers, review account histories and problems, contact other clients for info, credit histories and problems, prepare sales presentations, identify product needs, obtain relevant literature.
