Chapter 14
Personal Selling and Sales Promotion
By Boundless
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Personal selling is when salespersons use a process to engage customers and take a sales order that may not otherwise have been made.
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Personal selling minimizes wasted effort, measures marketing ROI better than most tools, promotes sales, and boosts word of mouth marketing.
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Prospecting starts with defining a narrow target market, identifying the customer's wants, and then offering custom solutions.
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The preapproach is when you gather relevant information regarding the prospect in order to create a customized sales presentation.
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How you approach a sales pitch in terms of attitude, prospect knowledge, and customized product will determine your success.
A well-prepared sales presentation will engage prospects with relevant information and entice them to make a purchase commitment.
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The prospect may object to points made in the presentation, so the salesperson should be prepared to listen and address those concerns.
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Closing refers to the achievement of the desired outcome, which may be the exchange of money or the acquiring of a signature.
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Following-up will build customer satisfaction, maximize long-term sales volume, and if a sale has not been made, it may lead to a sale.
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Customer relationship management is a widely used model for managing a company's interactions with customers, clients, and sales prospects.
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Proactive representatives tend to fall in to one of two main categories: Hunters and Farmers.
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Passive representatives don't like to sell, but are generally friendly and will take your order if you place one.
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Consultants are problem solvers who ask questions about their prospect's business in order to meet their needs and close a sale.
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Support personnel provide after-sales or technical assistance to customers, including functions ranging from engineering to marketing.
Creating the proper sales force structure, territoires, and goals leads to customer, sales force and firm satisfaction.
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Salespeople who have the best characteristics, and who fit the company ethos, should be chosen during the recruitment process.
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In general, training provides many diverse benefits both to the company as well as to the salesperson.
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Employees are best motivated through effective job design, equitable compensation, and treatment as stakeholders in the company.
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Appraisals are the common form of measuring how well an employee performed compared to a set of stated objectives; feedback communicates these evaluations.
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A coupon is a ticket or document that can be exchanged for a financial discount or rebate when purchasing a product.
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A rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed.
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Premiums are prizes, gifts, or other special offers consumer receive when purchasing products.
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Loyalty marketing is an approach whereby a company focuses on growing and retaining existing customers through incentives and rewards.
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Contests and sweepstakes are two forms of sales promotions which attract consumers by offering them the chance to win a valuable prize.
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A free sample is a portion of a product given to consumers at no cost for their trial with the aim of driving product adoption.
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Point-of-sale displays are sales promotions that are placed where they can easily draw customer attention and trigger impulse buying.
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Online sales promotion can create personal relationships, channels of communication, and an exchange of information regarding a product.