Personal Selling (Preliminary Steps In The Selling Process) LECTURE-23

Chapter Questions  How does personal selling work and what are its objectives?  What is the personal selling process? (Preliminary Steps In The Selling Process)

Chapter Perspective  If you can sell you have a job for life.  Everyone lives by selling something.  Some sale people are born but most are develop.  Work smart not hard.  Sales man do not work for the company he works for the customers.

“I don’t care how many degrees you have on the wall, if you don’t know how to sell, you’re probably going to starve.” “I don’t care how many degrees you have on the wall, if you don’t know how to sell, you’re probably going to starve.” Heavyweight boxer George Forman’s advice to his children L.A. Times, pg. C2, Tuesday, March 25, 1997 Chapter Perspective

Opening Case: Avon

An IMC program featuring: The introduction of a new youth brand, mark Joint sales training program with University of Phoenix New magazine/catalog: meet mark An IMC program featuring: The introduction of a new youth brand, mark Joint sales training program with University of Phoenix New magazine/catalog: meet mark An IMC program featuring: The introduction of a new youth brand, mark Joint sales training program with University of Phoenix New magazine/catalog: meet mark An IMC program featuring: The introduction of a new youth brand, mark Joint sales training program with University of Phoenix New magazine/catalog: meet mark Recruit a new generation of Avon salespeople To early to tell, but the target audience, young women 16-24, is a huge potential market, spending approximately $24 billion on beauty-related products Opening Case: Avon Challenge: Answer: Results: Recruit a new generation of Avon salespeople

How Does Personal Selling Work? Personal selling: Person-to-person interactive communication used to ultimately persuade a current/ prospective customer to buy something. The Oldest Marketing Communication Function

Prospecting Following up on Sales Leads Toughest Challenge: Cold Calling Following up on Sales Leads Prospecting Acquiring New Customers Problem: 15-20% customer turnover rate each year Ways to Respond

Build Trust By: Being Customer- oriented, Demonstrating Dependability, Being Honest Treating Current Customer Like New Ones Build Trust By: Being Customer- oriented, Demonstrating Dependability, Being Honest Retaining Current Customers Problem: often overlooked in favor of attracting new customers Ways to Respond

Make X Cold Calls Increase Current Customers’ Business by Z Percent Identify Y Qualified Sales Leads Make X Cold Calls Identify Y Qualified Sales Leads Personal Selling Objectives Typical Measurable Examples

Solution (enterprise) Selling Helping customers solve problems or take advantage of opportunities Solution (enterprise) Selling Helping customers solve problems or take advantage of opportunities Personal Selling Strategies Partnering Working with prospects and customers as business partners

Prospecting 1. Present Customers 2. Former Customers 3. End Less Chain 4. Center Of Influence 5. Cold Calling 6. Spotters 7. Directories 8. Mailing Lists 9. Prospecting Services 10. Advertising 11. Personal Contacts 12. Trade Shows And Exhibitions 13. Internet/Social Media Identifying Prospects

Money Need Authority Money Authority Qualifying Prospects MAN APPROACH MAN APPROACH

PREPARATION WW ho is the customer? WW ho will be the actual decision maker? WW ho will influence the decision? WW ho will be the actual user? WW ith Whom will develop favorable relationship? WW hat are the customer’s needs? II dentify the prospects need TT ry to understand his liking or disliking WW hat other information is required? FF amily back ground HH obbies / Interest / Memberships etc. PRE APPROACH

PREPARATION…. WW here does one obtain information? CC ompany’s internal records AA nnual reports CC atalogs TT rade publications AA dvertisements YY ellow pages CC ompany’s official website PRE APPROACH

PREPARATION....  Specify the objectives  Why am I going?  What am I trying to happen?  What am I going to recommend?  Develop a strategy  Course of action  Various alternatives  Make an appointment  Sales call are costly CALL PLANNING

 Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc.  Sales Management Concepts, Practices, and Cases by Eugene M. Johnson, David L. Kurtz & Eberhard E. Scheuing Published by McGraw-Hill Irwin.  Principles of Advertising & IMC by Tom Duncan 2 nd Edition, Published by McGraw-Hill Irwin.  Principles of Marketing by Philip Kotler & Gary Armstrong Thirteenth Edition, Published by Prentice Hall Bibliography

The End: “Enjoy life. This is not a dress rehearsal.” Author Unknown