Professional Selling, Week 4 Notes
Professional Selling, Week 4 Notes MKT312
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This 8 page Class Notes was uploaded by Rachael Notetaker on Monday September 19, 2016. The Class Notes belongs to MKT312 at Taylor University taught by Dr. Jody Hirschy in Fall 2016. Since its upload, it has received 10 views. For similar materials see Professional Selling in Marketing at Taylor University.
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Date Created: 09/19/16
Chapter 1 09/01/2016 ▯ What is selling? Selling is just one of many marketing components Personal selling includes… o Personal communication of information o Persuasion o Helping others ▯ New definition of personal selling The personal communications of information To unselfishly persuade someone To buy something (a good, service, idea…) that satisfies a customer’s need ▯ Think of your grandmother Would you treat her in a selfish manner? Would you sell her something just to make a sale? ▯ The Golden Rule of Personal Selling Sales philosophy of unselfishly treating others as you would like to be treated Reciprocity is not expected ▯ Salesperson Differences (Chart in Chapter 1 text) Traditional Salesperson o Guided by self-interests Professional Salesperson o Takes care of customers Golden Rule Salesperson o Others interests is most important ▯ Everybody Sells Each of us develops communication techniques for trying to get our way in life You are involved in selling when you want someone to do something ▯ Step-By-Step Sales Process ▯ The Golden Rule of Personal Selling Unselfishly treating others as you would like to be treated without expecting something in return The Golden Rule of Selling especially applies to your relationship with competitors Sales in your “calling” to serve o Do not think of your occupation as work o Only through service can you find fulfillment in your job and life To serve, you need knowledge Customers notice integrity o Your customer’s should be able to trust that you are looking out for their best interest o Personal gain is not your goal. Do not be concerned about sales goals—just your customer’s ▯ The purpose of business Increase the general well being of humankind through the sales of goods and services ▯ Basic functions of business Production of goods or creation of services Marketing those goods and services ▯ What is marketing? Marking is a process of planning: o Conception, pricing, promotion, and distribution of goods, services, and ideas o Create exchanges that satisfy individual and organizational objectives ▯ Production Concept Companies were production oriented ▯ The selling concept Characterized by product demonstrations and unsophisticated sales techniques ▯ The marketing concept Emphasis is on the customer’s wants Customer’s wants drive production Management is profit-oriented Planning is long-term Stresses wants of buyers ▯ Relationship Marketing Creation of customer loyalty Targets a major customer that it wants to sell to now and in the future Establishes a long-term collaborative relationship ▯ Relationship Marketing and the sales force Personal selling builds relationships Main functions of personal selling o Generate revenue o Provide services to satisfy customers ▯ Levels of relationship marketing Transaction Selling – customers are sold to and not contacted again Relationship selling – seller contacts customers after purchase to determine if they are satisfied and have future needs Partnering – seller works continually to improve customers’ operations, sales, profit ▯ Partnering with Customers Components o Individual excellence o Importance o Interdependence o Investment o Information o Integration o Institutionalization o Integrity ▯ Consultative Selling Helping the customer achieve strategic short and long-term goals through the use of the seller’s goods and/or services Consultative selling encourages a… o Highly interactive dialogue between a salesperson and a customer o Balanced exchange of information ▯ Levels Of Moral Development Principled o Lives by own code o “What is the right thing to do?” Conventional o Upholds legal laws o “What am I legally required to do?” Pre-Conventional o Acts in own best interest o “What can I get away with?” Personal Selling – unselfish Think of selling to your Grandmother Golden Rule of Personal Selling – treating others as you would like to be treated Traditional Sales People Do what they think they can get away with Guided by self-interests Attribute results to personal efforts Seek recognition for efforts Sharing information is not important Pride and ego driven Money is life’s main motivator Professional Sales People Do what they are legally required to do Take care of customers Attribute results to personal efforts, employer, customers, economy Enjoy recognition May share if it suits their purpose Pride and ego driven Money is important, but not to the customer’s detriment Golden Rule Sales People Do the right thing Find others interests most important Attribute results to others Feel that an individual’s performance is due to others Not motivated by pride and ego Service is most important Money is to be shared Why choose a sales career The opportunity to provide service to others The wide variety of sales jobs available The freedom of being on your own The challenge of selling The opportunity for advancement in a company The rewards from a sales career Three different types of sales positions Retail o In-store o Direct seller who sells face-to-face away from a fixed store location o Telephone sales person Wholesale Manufacturer’s sales representative ▯ Tree of Business life: Benefits Guided by the Golden Rule ▯ Psychological influences on Buying Humans are motivated by: o Needs o Wants What are some of the needs and wants in your life? ▯ A FABulous approach to Buyer Need Satisfaction Stressing benefits = powerful selling technique FAB selling technique emphasizes benefits o Feature o Advantage A performance advantage How a product can be used How a product will help a buyer Ex High quality Fastest-selling Prints both sides o Benefit – Result of an advantage Interested in what product will do for them Examples Increases sales by 10% Saves time ▯ People Buy Benefits Notice national television commercials o They stress benefits o Advertisers know this helps sell the product Stressing benefits in the sales presentation answers the prospect’s question “What’s in it for me?” ▯ Using the FAB sequence Standardized FAB sequence o “The….(feature)… means you… (advantage)… with the real benefit to you being…. (benefit).” ▯
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