But personal selling must not be overlooked: it remains an extremely important part of a salesperson’s arsenal and is a skill every good salesperson must master. Corporations: Limiting Your Liability, 30. 83. From Motivation Theory to Application, X. Personal Selling offers the following compensation. Transforming Businesses through Information, 118. Table 1.1 Strengths and weakness of personal selling 1 Interactive: questions can be answered and objectives overcome Characteristics of Successful Entrepreneurs, 37. Helpful in Selling: Personal selling is an art of selling goods. Leads usually come in the form of letters, cards, e-mail addresses, telephone calls, or through social media sites. Importance of Personal Selling to Society, Road infrastructure and driver behavior can create complex road networks, Scientists develop Single Photons from a Silicon Chip for quantum light particles, Physicists use antiferromagnetic rust for Faster and Efficient Information Transfer, Crab armies can be a key issue in coral wall preservation, Beaches cannot be extinct if sea levels continue to rise. Understanding Financial Management and Securities Markets, 137. Looking for a Better Way: Improving Production and Operations, 88. Personal Selling: People Power. The firm’s files and records can be another source of prospects. Achieving World-Class Operations Management, 82. Personal selling enables a salesperson to demonstrate a product and tailor the message to the prospect; it is effective in closing a sale. Because there are no surefire ways to find prospects, most salespeople try many methods. Handling objections: Almost every sales presentation, structured or unstructured, meets with some objection. Since it is an interactive form of selling, it helps build trust with the customer. This follow-up call may also be a chance to make another sale. The Nature and Functions of Distribution (Place), 105. The sales message can be varied according to the motivations and interests of each prospective customer. Using Financial Information and Accounting, XV. Distributing and Promoting Products and Services, 102. Can the prospect make the buying decision? Rarely does a customer say, “I’ll buy it,” without asking questions or voicing concerns. (v) Lasting Relationship: Personal selling helps to develop the lasting relationship between the sales persons and the customers, which is very important for achieving the objectives of business. Firstly personal selling is the costliest method of promotion. This part of the job may be easy for many consumer products, but for B2B products or services, it may be more complex. At the same time, the salesperson tries to build interest in the coming meeting. Detail Demonstration: Except television advertisements, demonstration is not possible. Personal selling plays a very important role in the marketing of goods and services. Persuading prospects to... Interaction. To communicate effectively, you need to take into account the needs of multiple stakeholders. The importance of personal selling to businessmen, customers and society. Personal selling is a powerful tool for creating demand for a firm’s products and increasing their sale. Personal selling offers several advantages over other forms of promotion: Selling is a process that can be learned. Finally, friends and acquaintances of salespeople can often supply leads. Managing a Socially Responsible Business, 15. What are the advantages of personal selling. Authority—Establishing Organizational Relationships, VIII. This helps the business persons in bringing economy in their efforts. Managing Human Resources and Labor Relations, 62. Presenting and demonstrating the product: The presentation and demonstration can be fully automated, completely unstructured, or somewhere in between. The salesman informs customers about the new products by suggesting to him their uses. Correspondence with buyers can be helpful. Social selling allows for the establishment of genuine relationships. Slightly over 45 percent of them are women. Small Business: Driving America's Growth, 42. Salespeople can tailor their presentations to fit the needs, motives, and behavior of individual customers. Making Ethical Decisions and Managing a Socially Responsible Business, 12. Going to College Is an Opportunity of a Lifetime—Never Drop Out, 150. Building relationships is an absolute essential for the long-term success of a business strategy. Participating in the Global Marketplace, 23. The importance of personal selling to a business organization may be described as follows: (i) Effective Promotional Tool: It is an effectual promotional tool in the hands of the businessman for increasing sales. Personal Selling. Records in the service department can identify people who already own equipment and might be prospects for new models. For example, a visit to a business cus-tomer is far more expensive than sending an email. Make Your Future Happen: Learn to Plan, 149. © copyright 2020 QS Study. Perhaps the most important advantage is that personal selling is considerably more effective than other forms of promotion in obtaining a sale and gaining a satisfied customer. The Impact of Multinational Corporations, 29. Secondly, it can cover only limited number customers at a time. 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