1 Introduction to Personal Selling PDF

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Lehman lecture on the introduction to personal selling....

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Definition of personal selling o Personal selling is the personal communication of info to persuade a prospective customer to buy something which satisfies that person’s needs. Relationship of Sales to marketing o What is the relationship of personal selling to marketing o 4 Ps of Marketing  Product  Price  Promotion  Place Personal Selling as a Profession o A profession is a learned pursuit performed for the public good. o Profession usually has the following five characteristics  Accumulated body of knowledge  Generic language used by its members  Structured method of procedures  Foundation in scientific principles  Code of Ethics Sales Career - Benefits o Attractive salary and benefits o Opportunities for advancement o Independence o Challenging o Mobility Sales Career – Disadvantages o Negative image of salespeople o Pressure to make the sale may be too stressful o Your personal income may directly depend on how much you sell if you work on 100 percent commission o Independence and lack of structure may be too challenging for some people Types of selling – by company type o Manufacturer – selling for the company that produces the product o Wholesale – selling goods and services to wholesalers who re-sell to other organizations o Retail – selling products and services to consumers for personal, non-business use Types of selling – by selling method o Transactional selling  Buyers mainly interested in price and convenience  Salespeople bring no additional benefits to the customer  Suppliers reduce resources allocated to selling o Relationship selling  Consultative selling (B2B)  Buyers willing to pay for new value and additional benefits  Requires more in-depth needs analysis v. transactional selling  Enterprise selling

Strategically important customers demand extraordinary value creation  Requires cross-functional teams to execute  Most complex Types of selling – by type of customer Functions of salespeople o Manage a territory/travel to meet customers o Provide solutions to customers’ problems o Provide service to customers o Sell to current and new customers o Prospect for potential customers o Help customers resell products o Help customers use products after purchase o Building goodwill (PR) with customers o Entertain customers o Manage customer, market and competitor information o Communicate with customers, co-workers and management o Attend meetings and participate in training Sales success characteristics o Desire to sell, Willing to work hard, Need to achieve success, Optimistic outlook, knowledge of job and products, time management skills, well organized, communication skills, ability to ask questions and listen, ability to overcome objections, closing skills, decision-making ability, willingness to provide good customer service, good physical and mental conditioning Sales success characteristics o According to Edward Jones, a financial services company, the best salespeople are:  Persistent, self-reliant, willing to bet it all on themselves 

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