personal selling and sales management alokesh banerjee
TRANSCRIPT
PERSONALSELLING
AND SALES MANAGEMENT
Alokesh Banerjee
Definition of Personal Selling
Personal selling –1) two-way flow of communication2) between a buyer and seller3) a face-to-face or real time encounter
Why are “ face to face” and “two-way” important?
• Provides a detailed explanation or demonstration of product
• Message can be varied to fit the needs of each prospective customer
• Can be directed to specific qualified prospects
• Instant feedback
• Personal persuasion can be used
“A good salesman can get you to buy ice in winter”
Advantages of Personal Selling
When to Use Personal Selling
Customers are concentratedCustomers are concentrated
There are few customersThere are few customers
Product is technically complexProduct is technically complex
Product is custom madeProduct is custom made
Product has a high valueProduct has a high value
Selling image, not productSelling image, not product
Creating Value Through Salespeople
Relationship Selling
building ties to the customer, based on a salesperson’s attention and commitment to customer needs over time.
1) Prospecting2) Pre-approach
3) Approach4) Presentation
5) Close6) Follow-Up
Six stages of Personal Selling
Personal Selling: Prospecting
Prospect- possible customer
Qualified Prospect-customer who has desire, means and power to decide
Cold Canvassing- seller initiated contact of,potential customers without advance warning.
3) Approach-First meeting (Physical impressions highly important-
appearance, timeliness, confidence)
2) Pre-approach-Gathering information (when to call, income level, risk tolerance)
Personal Selling: Pre- Approach & Approach
Personal Selling:Presentation
A) Stimulus-Response Format – (suggestive selling)keep suggesting items until the buyer responds, like theMcDonalds order taker
B) Formula Selling Format – more formal and planned, like a telemarketer
Canned Selling Presentation
Memorized, standardized message conveyed to every prospect.
Works when seller is a novice or does not know the buyer well
Personal Selling: Presentation
Need-Satisfaction Format- Let the customer do the talking- Salesman probes, listens then suggests, like a financial planner
• Adaptive Selling- pro-active but selective presentation of offerings, based on pre-approach data
• Consultative Selling – re-active presentation for problem solution
Personal Selling: Presentation
Handling Objections
• Acknowledge and Convert the Objection- use the objection as a reason to buy (expensive) •Postpone hold off answer because next info will convince buyer
(complicated)
•Agree and Neutralize show the objection’s insignificance (side effects)
•Denial refute objection with clear facts
Personal Selling: Close
• Trial Close-”Can I put you down for blue or green?”
•Assumptive Close-ask about delivery or warranty choices.
• Urgency Close-”Offer valid for today only.”
• Final Close-Buyer initiated acceptance of the sale.
Address concerns with delivery and installation,
so today’s customer becomes tomorrow’s
qualified prospect or referral source
Personal Selling: Follow-Up
Sales Force Motivation
• Compensation
• Straight Salary Compensation Plan
• Straight Commission Compensation Plan
• Combination Compensation Plan
Sales Force Evaluation
Quantitative Assessments – sales quotas easy but ignores selling environment
•attitude•attention• product knowledge•selling skills•appearance and professionalism
Qualitative Assessments – behavioral evaluations
Personal selling involves the
two-way flow of communication between a buyer and seller, often
in a face-to-face encounter, designed to influence a person’s or
group’s purchase decision.
Personal selling involves the
two-way flow of communication between a buyer and seller, often
in a face-to-face encounter, designed to influence a person’s or
group’s purchase decision.
Personal Selling
The personal selling process consistsof six stages: (1) prospecting,(2) preapproach, (3) approach,(4) presentation, (5) close, and
(6) follow-up.
The personal selling process consistsof six stages: (1) prospecting,(2) preapproach, (3) approach,(4) presentation, (5) close, and
(6) follow-up.
Personal Selling Process
Adaptive selling involves adjustingthe presentation to fit the selling
situation, such as knowing when to offer solutions and when to ask for
more information.
Adaptive selling involves adjustingthe presentation to fit the selling
situation, such as knowing when to offer solutions and when to ask for
more information.
Adaptive Selling
Consultative selling focuses on problem identification, where the salesperson serves as an expert on
problem recognition and resolution.
Consultative selling focuses on problem identification, where the salesperson serves as an expert on
problem recognition and resolution.
Consultative Selling