Techniques of Selling PDF

Techniques of Selling Selling techniques are essential strategies and methods used by businesses to effectively market and sell their products or services. These techniques includes: Salespersons and their approaches SS Merchandising and adjustment of pricing policies Retail Methods by Sha...

Techniques of Selling Selling techniques are essential strategies and methods used by businesses to effectively market and sell their products or services. These techniques includes: Salespersons and their approaches SS Merchandising and adjustment of pricing policies Retail Methods by Shanique Salmon Physical Traits of Successful Salespeople Physical traits: good health in order to have endurance to sell the products and achieve the targets set, good posture and good communication skills. Good Health 1 Endurance to sell products and achieve targets Good Posture 2 Professional appearance and confidence Communication Skills 3 Ability to effectively convey information about products Social Traits of Effective Salespeople Social traits: should possess good manners and social graces, and be able to communicate and extend courtesies to prospective clients. Good Manners Polite and respectful behavior towards clients Social Graces Ability to interact comfortably in various social situations Extend Courtesies Showing consideration and respect to prospective clients Salespersons and Their Approaches Warm Calling vs. Cold Calling Reaching out to potential customers who have expressed Reaching out to potential customers who have not expressed interest in your product or service. You may have obtained prior interest in your product or service. This method requires their information from a lead generation form, a marketing more effort to build rapport and trust, but it can be successful campaign, or a referral. if done effectively. Hard Selling vs. Soft Selling Hard Selling Soft Selling Aggressive sales tactics that A more subtle approach that focus on pushing the product or emphasizes building service without understanding relationships and trust. This the customer's needs. This approach focuses on approach can be off-putting understanding the customer's and counterproductive in the needs and providing solutions long run. that align with their goals. Consultative Selling Emphasizes understanding client needs and building lasting relationships. 1 Ideal for long-term business relationships and ongoing support. Solution Selling Focuses on identifying specific problems and offering tailored solutions. 2 Rather than pushing a product or service, you focus on how your offerings can solve the customer's challenges. Customer Personality Selling 3 Focuses on the different types of customers, e.g. assertive, indecisive etc. and how to approach them. Merchandizing Merchandizing is the activity of promoting the sale of goods. It includes the display of products but also involves pricing decisions such as offering free samples and special offers such as sales promotions. These require price adjustments for. E.g. Special offer involves price reduction. At the end off the offer there will be a price increase. Supermarket Layout Department Store Self-Service Checkout Efficient arrangement of products for Display Convenient point-of-sale systems for easy customer access Eye-catching product presentations to customer ease attract customers  Types of Pricing Adjustments Mark Downs A reduction in the products price Mark Ups An increase in the product price  Retail Methods Mail-Order This is an order for goods that is received and filled by mail. Companies that sells through mail order benefit from reduced operational cost of location and staff. Since display areas are not required only an office and storage facility are necessary for the operation of this business. Independent shops Sole trader, corner shop, unit shop, and convenience shop. Owned by one person or a partnership, and may specialize in a particular product such as hardware, electrical, bakery, fruit, and veg and so on.  Superm arkets Are large retail stores that are also, often part of a multiple chain. They hold a wide range of products and features self – service facilities, shopping trollies and multiple check-out points. Department These stores carry a several lines ofStores goods under one roof. A department store may feature a clothing department, household items, stationery, hardware etc. E-commerce Orders are made by customers over the internet from the websites of businesses. Payments are also made over the internet. Packages are delivered by mail or courier. Tele-marketing This is the marketing of goods and services by means of telephone calls. Vending Machines These self-service machines are placed at various locations by their owners. Customers are required to place the required funds inside these machines and are then instructed on how to make their choice. The machine then dispenses the product. This type of business is very cost effective as owners may only pay a fee for locating the vending machine.  Types of Pricing Policies Pricing Policy Description Competitive pricing Undercutting prices of rivals Premium pricing Charging a relatively high price so that customers feel the price accurately reflects the exclusive nature of the product Bundling price The seller bundles together a number of products with a discounted price for buying the whole bundle