Graduation Workshops for Business Students in BUS 202 Monday - February 9th 10: :00amMonday - February 9th 10: :00am Tuesday - February 10th 3:30 - 4:30pmTuesday - February 10th 3:30 - 4:30pm Wednesday - February 11th, 5:30 - 6:30pmWednesday - February 11th, 5:30 - 6:30pm Thursday - February 12th, 12:30 - 1:30pmThursday - February 12th, 12:30 - 1:30pm Monday - February 16th, 12:00 - 1:00pmMonday - February 16th, 12:00 - 1:00pm

Overview of Personal Selling Module Two

Customizing the Sales Approach An Expert’s Viewpoint: Lisa Gregg, Director of Sales Development for American Express had this to say about customizing the sales approach: “Depending on the application, the card may have hundreds of different benefits. A supermarket manager has different needs than a client in the furniture business. We wanted to create a message to fit the specific needs of our customers.” Sales representatives now input specific customer information, then the database produces sales materials ranging from industry data sheets to Power Point slides that can be used in the sales presentation. Action

Customizing the Sales Approach An Expert’s Viewpoint: Customers now receive sales presentations based on their unique needs, and American Express has greatly improved the efficiency of its sales organization. Result

Industrial Revolution Industrial Revolution Post-Industrial Revolution Post-Industrial Revolution War and Depression War and Depression Modern Era Modern Era 1800s1900s2000s Evolution of Personal Selling Selling function became more structured Peddlers selling door to door... served as intermediaries Business organizations employed salespeople Selling function became more professional As we begin the 21 st century, selling continues to develop, becoming more professional and more relational

Continued Evolution of Personal Selling Change Salesforce Response More emphasis on improving sales productivity Increased use of technology Increased use of lower-cost- per-contact methods More emphasis on profitability objectives Intensified competition More emphasis on developing and maintaining trust-based, long-term customer relationships

Continued Evolution of Personal Selling Change Salesforce Response Demand for in-depth, specialized knowledge as an input to purchase decisions Team selling More emphasis on customer- oriented sales training

Contributions of Personal Selling: Salespeople and Society Salespeople help stimulate the economySalespeople help stimulate the economy Salespeople help with the diffusion of innovationSalespeople help with the diffusion of innovation

Contributions of Personal Selling: Salespeople and the Employing Firm Salespeople generate revenueSalespeople generate revenue Salespeople provide market research and customer feedbackSalespeople provide market research and customer feedback Salespeople become future leaders in the organizationSalespeople become future leaders in the organization

Contributions of Personal Selling: Salespeople and the Customer Salespeople provide solutions to problemsSalespeople provide solutions to problems Salespeople provide expertise and serve as information resourcesSalespeople provide expertise and serve as information resources Salespeople serve as advocates for the customer when dealing with the selling organizationSalespeople serve as advocates for the customer when dealing with the selling organization

Contributions of Personal Selling: Buyer Preferences Are honestAre honest Understand general business and economic trends, as well as the buyer's businessUnderstand general business and economic trends, as well as the buyer's business Provide guidance throughout the sales processProvide guidance throughout the sales process Help the buyer to solve problemsHelp the buyer to solve problems Have a pleasant personality and a good professional appearanceHave a pleasant personality and a good professional appearance Coordinate all aspects of the product and service to provide a total packageCoordinate all aspects of the product and service to provide a total package Industrial buyers prefer to deal with salespeople who:

Classification of Personal Selling Approaches Stimulus ResponseStimulus Response Mental StatesMental States Need SatisfactionNeed Satisfaction Problem SolvingProblem Solving Consultative SellingConsultative Selling

Classification of Personal Selling Approaches 1. Stimulus Response –The key idea is that various stimuli can elicit predictable responses. –An example of the stimulus response view of selling would be continued affirmation. “good choice, good choice”

Stimulus Response Selling SalespersonProvidesStimuliBuyerResponsesSought Continue Process until Purchase Decision

Classification of Personal Selling Approaches 2. Mental States –Assumes the buying process is essentially identical for most buyers –Buyers are led through certain mental states –AIDA (attention, interest, desire, and action) is this practical?

Mental States Selling Attention Interest Interest Conviction Conviction Desire Desire Action Action

Classification of Personal Selling Approaches 3. Need Satisfaction –Based on the notion that the customer is buying to satisfy a need –Salesperson uses questioning, probing tactic to uncover important buyer needs

Need Satisfaction Selling Uncover and Confirm Buyer Needs Present Offering to Satisfy Buyer Needs Continue Selling until Purchase Decision

Classification of Personal Selling Approaches 4. Problem Solving –An extension of need satisfaction selling –Sometimes competitors’ offerings are included as alternatives how would the competitor’s offerings be referred to?

Problem Solving Selling DefineProblem GenerateAlternativeSolutions ContinueSellinguntilPurchaseDecision EvaluateAlternativeSolutions extremely rational

Long-term Ally 5. Consultative Selling Strategic Orchestrator Business Consultant The process of helping customers reach their strategic goals by using the products, service, and expertise of the selling organization. Not just meeting needs or solving problems

The Sales Process: An Overview Salesperson Attributes Developing Customer Relationships Initiating Customer Relationships Enhancing Customer Relationships Selling Foundations Selling Strategy Trust, ethics, understanding customers, communication skills

The Sales Process: Selling Foundations Salesperson Attributes Possess Excellent Communication Skills Understand Buyer Behavior Be Trustworthy and Behave Ethically In order to be successful in today’s global business environment, salespeople must have a solid relationship building foundation. They must:

The Sales Process: Selling Strategy In order to be successful in today’s global business environment, salespeople must also think and act strategically. They must develop strategies for: Their Sales Territory Each Sales Call Each Customer

The Sales Process Salesperson Attributes Prospecting Pre-approach Presentation Planning Approaching the Customer Developing Customer Relationships Initiating Customer Relationships Enhancing Customer Relationships

The Sales Process Salesperson Attributes Sales Presentation Delivery Earning Customer Commitment Developing Customer Relationships Initiating Customer Relationships Enhancing Customer Relationships

Adding Value through Follow-up, Self-leadership, and Teamwork The Sales Process Salesperson Attributes Developing Customer Relationships Initiating Customer Relationships Enhancing Customer Relationships

Appendix on Careers Job securityJob security AdvancementAdvancement FeedbackFeedback PrestigePrestige VarietyVariety IndependenceIndependence CompensationCompensation

From the WSJ (Sept 2003)