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Nov 28

Salespeople can avoid wasting time and increase their productivity by qualifying all prospects. The standard of living of the society goes up in view of the large scale production. Transforming the Factory Floor with Technology, 89. iii. Rarely does a customer say, “I’ll buy it,” without asking questions or voicing concerns. It is the best tool for two-way communication. (v) Product Standardisation – Personal selling increases product standardisation and uniformity in consumption pattern in a diverse society. A completely unstructured presentation that has no set format is a much more successful approach. The Nature and Functions of Distribution (Place), 105. Salesperson gain experience while dealing with different types of customers. The purchaser thinks himself honourable, in whom the producer is interested. (iv) Consumer Attention – Interaction at personal level gives salesperson an opportunity to detect the loss of consumer’s attention and interest. Share Your PDF File A good sales person must have passion and ability to inspire trust in his/her customers. However, the role of personal selling becomes more important for the illiterate and rural customers, who do not have many other means of getting product information. Sales representatives attend such meetings to display and demonstrate their company’s products and to answer the questions of those attending. Despite the above advantages, personal selling suffers from several disadvantages. Bateson, we’ll have this equipment in and working for you in two weeks.” If Mr. Bateson doesn’t object, the salesperson can assume that the sale has been made. The importance of personal selling to businessmen, customers and society. As compared to other methods of promotion, the wastage of efforts is minimum in case of personal selling. Sales are the major source of revenues to a business. The promotional tool performs the following roles to organizations and other small business owners… It’s an effective promotional tool. Looking for a Better Way: Improving Production and Operations, 88. The firm’s files and records can be another source of prospects. Two-Way Communication:. As a method of promotion, personal selling is much more flexible and effective than advertising and sales promotion. Personal selling should be part of a wider sales mix, alongside telesales, email marketing, sales … They also help the customers to know how these needs and wants could be satisfied. The importance of the personal selling is three fold i.e., the benefits which it provides to business; customer and society. Development of personal rapport with customer increases the competitive strength of a business organization. Professional salespeople are knowledgeable and creative. Buying and Selling at Securities Exchanges, 144. Personal selling is an important marketing tool for small businesses, particularly those that sell complex or high-value products and services to … The sales person can easily assess the level of customer attention and interest and can read the mind of customers. (ii) He makes search for the new customers and convince them’ about the use of the product. Personal selling, being flexible in nature, involves individual and personal communication where a salesman can tailor his sales presentations to fit needs, motives and attitudes of prospective customers. In fact, the sale is just the start. Following up on the sale: The salesperson’s job isn’t over when the sale is made. Moreover, when the prospect has questions or raises objections, the salesperson is there to provide explanations. A salesman increases the sales by identifying new customers and persuading them to buy the product. Importance of personal Selling Personal selling is an important element of promotion mix and an effective promotional tool. On the feedback given by the salespersons a company brings the desired improvement in the products in order to march the demand and expectations of the customers. iv. Also the Indian population majorly resides in rural areas where largely people do not have access to electricity, TV, radio, internet and newspapers, hence personal selling is the best method available to market the products. One guideline is that not all prospects are “true” opportunities for a sale. For example, when a customer wants to buy a house, car, or anything expensive, the salesperson will say, “If we find the house (or car) that you really like, is there any reason you could not make the purchase today?” Once they get the green light, the salesperson will spend whatever time it takes to find the right product for the customer. Employment Opportunities 3. ii. The salesperson can explain the merits of the product to the customers. This helps then to match their needs and the product. In today’s business world, in which relationships are most important for long-term sales, canned or structured presentations are not well received, nor do they support the idea of building a great bond with the customer. Advertising and publicity are among mass communication … It also facilitates prompt feedback from the customers regarding acceptance of the product. – Eliminates Ignorance, Increases Sales Volume, Assists Customers, Increases Customer Satisfaction and Helps in Finding Prospects, – Importance to Businessmen, Customers and Society, – Personal Interaction, Quick Response, Increases in Sales Volume and Easy Customer Assessment, – Services to Consumers, Services to Producers and Services to the Society, – From the Consumer and Businessman Perspective. Mobility of Sales People 5. The situations or the conditions favouring personal selling can be grouped into four categories namely, market, product, consumer and company. Importance of personal selling in financial services The importance of personal selling in marketing of financial services may be summarized as follows: 1. ii. He informs them of new products and explains to them how best they can use these products. Other benefits of personal selling, due to which it is a famous promotion activity are: i. Personal Selling benefits customers in following ways: (i) Helps in Identifying Needs – Personal selling helps customers to identify their needs and wants and to understand how the product may satisfy their needs. The act of personal selling is deemed necessary for the smooth working of industries without mass production in anticipation of sale cannot take place. Personal selling is an important element of promotion mix and an effective promotional tool. Sales are the major source of revenues to a business. Personal selling plays a very important role in the marketing of goods and services. The product requires to be customized for each individual, as in the case of securities or insurance; 4. Those who advance in this career enjoy job satisfaction and also feel a sense of security. To enable a customer to decide what to buy and what not to buy; iii. (ii) Employment Opportunities – Increased production creates more employment opportunities. (d) Communication service – Personal selling makes the two-way communication between the company and its customers effective in a Way that salesman provides information about product and policies of the business to the customers and in return provides information regarding the customer’s needs, choices, tastes and preferences etc., to the manufacturer or seller. Specialized Forms of Business Organization, V. Entrepreneurship: Starting and Managing Your Own Business, 36. The product has a high unit value, is quite technical in nature, or requires a demonstration; 3. Make Your Future Happen: Learn to Plan, 149. Perhaps the easiest way to close a sale is to ask for it: “Ms. The number of people who earn a living from sales is huge compared, for instance, with the nearly 300,000 workers employed in the traditional advertising sector. ii. Qualifying questions are used to separate prospects from those who do not have the potential to buy. Finally, friends and acquaintances of salespeople can often supply leads. Public Relations Helps Build Goodwill, XIII. Some of the important functions of personal selling are: i. He plays a very significant role in selling the products. They introduce a new product to the customers. Personal selling is an act of convincing the prospects to buy a given product or service. Meetings, such as professional conventions and trade shows, are another good source of leads. The best way to counter objections is to have a thorough knowledge of the product offering so that a solution can be found that overcomes the objection. (ii) Latest Market Information – It helps customers to get latest market information regarding price changes, product availability, new products and competitor’s products and their comparisons. But even if it isn’t, it will build goodwill for the salesperson’s company and may bring future business. Helps in identification of needs – Personal selling helps the customers in identifying their needs and wants and knowing how these can be satisfied.

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