BBA Marketing Advertising & Sales Promotion PDF

Advertising and Sales Promotion Unit-06 Introduction to Personal Selling and Salesmanship Semester-04 Bachelor of Business Administration - Marketing  Advertising and Sales Promotion...

Advertising and Sales Promotion Unit-06 Introduction to Personal Selling and Salesmanship Semester-04 Bachelor of Business Administration - Marketing  Advertising and Sales Promotion UNIT Introduction to Personal Selling and Salesmanship Names of Sub-Unit Concept of Personal Selling and Salesmanship; Differences among Personal Selling, Salesmanship and Sales Force Management; Qualities of a good salesperson; Types of salespersons; Role of Personal Selling in CRM Overview This unit begins with an introduction to Personal Selling and Salesmanship, emphasizing the concept of building relationships and persuading customers to make purchases. It explores the differences among Personal Selling, Salesmanship, and Sales Force Management, highlighting their distinct roles within the sales process. The unit also discusses the qualities of a good salesperson, different types of salespersons, and the significant role of Personal Selling in Customer Relationship Management (CRM) by fostering long-term customer loyalty and satisfaction. 2 Introduction to Personal Selling and Salesmanship Learning Objectives In this unit, you will learn to understand the concept of Personal Selling and Salesmanship, recognizing their significance in building customer relationships and driving sales. You will distinguish the differences among Personal Selling, Salesmanship, and Sales Force Management, grasping their respective roles and responsibilities within the sales process. Additionally, you will explore the qualities of a good salesperson, identify various types of salespersons, and appreciate the pivotal role of Personal Selling in Customer Relationship Management (CRM) by nurturing customer loyalty and enhancing overall customer satisfaction. Learning Outcomes At the end of this unit, you would understand concepts of personal selling, roles and opportunities for sales persons. Pre-Unit Preparatory Material  https://economictimes.indiatimes.com/definition/personal-selling  https://www.globalsocialmediamarketing.com/personal-selling-and-sales- management/  https://www.iedunote.com/personal-selling Table of Topics 6.1 Introduction to Personal Selling and Salesmanship 6.2 Concept of Personal Selling and Salesmanship 6.3 Differences among Personal Selling 6.4 Salesmanship and Sales Force Management 6.5 Qualities of a good salesperson 6.7 Types of salespersons 6.7 Role of Personal Selling in CRM 6.8 Conclusion 3  Advertising and Sales Promotion 6.1 Introduction to Personal Selling and Salesmanship  Personal Selling and Salesmanship are essential components of the marketing and sales process. They involve the art of engaging with potential customers, understanding their needs, and persuading them to make a purchase. Personal Selling focuses on building relationships and providing personalized solutions, while Salesmanship encompasses the skills and techniques employed by sales professionals to effectively communicate and influence buying decisions.  Personal Selling involves direct interaction between a salesperson and a prospective customer. It goes beyond simply presenting products or services; it is about establishing a connection, understanding the customer's unique needs and preferences, and offering tailored solutions. The salesperson acts as a consultant, guiding the customer through the buying process and addressing any concerns or objections they may have. Personal Selling aims to build trust and loyalty, ultimately leading to long-term customer relationships.  Salesmanship, on the other hand, refers to the skills and techniques used by sales professionals to effectively communicate and persuade potential buyers. It encompasses a range of abilities such as active listening, effective communication, product knowledge, negotiation, and presentation skills. Salespeople employ these skills to create persuasive sales presentations, overcome objections, and convince customers of the value and benefits of the products or services they offer.  The success of Personal Selling and Salesmanship relies on a deep understanding of customer needs, strong communication skills, and the ability to build trust and rapport. Sales professionals must be knowledgeable about their products or services and be able to effectively convey their value propositions. They should possess excellent interpersonal skills, adaptability, and a customer-centric approach.  In today's competitive business environment, Personal Selling and Salesmanship have evolved to incorporate various technological advancements. Sales professionals now utilize digital platforms, social media, and online tools to reach potential customers, engage with them remotely, and nurture relationships. However, despite the advancements, the fundamental principles of Personal Selling and Salesmanship remain rooted in understanding customers, building relationships, and delivering value. 4 Introduction to Personal Selling and Salesmanship 6.2 Concept of Personal Selling and Salesmanship The concept of Personal Selling revolves around the process of building relationships and engaging in direct communication with potential customers to influence their purchasing decisions. It involves face-to-face or personalized interactions where a salesperson identifies customer needs, provides solutions, and guides them through the buying process. 6.2.1 Personal Selling Personal Selling is a dynamic and interactive approach to sales, focusing on establishing trust, understanding customer motivations, and tailoring the sales pitch to meet individual needs. It goes beyond simply presenting a product or service; it involves active listening, asking probing questions, and providing relevant information to address customer concerns and objections. The key elements of the concept of Personal Selling include:  Relationship Building: Personal Selling emphasizes the importance of building long-term relationships with customers. Sales professionals aim to develop trust, credibility, and rapport, which helps to foster loyalty and repeat business.  Customer Needs Identification: Through personalized interactions, salespeople have the opportunity to understand the unique needs, desires, and pain points of customers. By actively listening and asking relevant questions, they can identify customer needs and provide tailored solutions.  Solution-Oriented Approach: Personal Selling focuses on offering solutions rather than just selling products or services. Sales professionals present the features, benefits, and value propositions of their offerings in a way that directly addresses customer needs and demonstrates the value they will receive.  Persuasion and Influence: Salespeople leverage their communication skills, product knowledge, and persuasive techniques to influence customers' purchasing decisions. They highlight the unique selling points and advantages of their offerings to convince customers that their solution is the best fit.  Follow-Up and Customer Service: Personal Selling extends beyond the initial sale. Sales professionals maintain contact with customers, provide support, 5  Advertising and Sales Promotion and offer post-sales service to ensure customer satisfaction and build lasting relationships. Personal Selling is especially effective in industries where complex or high-value products and services are involved, as it allows for personalized consultations and customized solutions. It requires sales professionals to possess excellent interpersonal skills, product knowledge, adaptability, and a customer-centric mindset. By employing the concept of Personal Selling, businesses can create meaningful connections with customers, understand their specific needs, and provide tailored solutions. This approach leads to higher customer satisfaction, increased sales, and long-term customer loyalty. 6.2.2 Salesmanship The concept of Salesmanship refers to the skills, techniques, and strategies used by sales professionals to effectively communicate, persuade, and influence potential customers in order to make sales. It encompasses a range of abilities, from product knowledge and presentation skills to relationship building and objection handling. Salesmanship involves the following key elements:  Effective Communication: Sales professionals need strong communication skills to convey information about products or services clearly and persuasively. They must be able to articulate the features, benefits, and value of what they are selling, as well as listen actively to customer needs and concerns.  Product Knowledge: A good salesperson possesses in-depth knowledge about the products or services they are selling. This includes understanding the unique selling points, competitive advantages, and applications of the offerings. Product knowledge allows salespeople to address customer questions and provide accurate information.  Persuasion Techniques: Salesmanship involves the use of persuasive techniques to influence potential customers' buying decisions. This includes understanding customer motivations, using persuasive language, demonstrating the value of the product or service, and addressing objections or concerns effectively. 6 Introduction to Personal Selling and Salesmanship  Relationship Building: Building rapport and establishing trust with customers is a crucial aspect of salesmanship. Sales professionals aim to create a positive and personalized experience for customers, fostering long-term relationships. By understanding customer needs, showing empathy, and providing solutions, salespeople can build trust and loyalty.  Objection Handling: Salesmanship involves the ability to address and overcome customer objections or concerns. This requires active listening, empathy, and providing relevant information or solutions to alleviate doubts and build confidence in the purchase decision.  Closing Techniques: Sales professionals employ various closing techniques to finalize the sale. This includes using persuasive tactics, creating a sense of urgency, offering incentives, or facilitating the decision-making process to secure the customer's commitment.  Continuous Learning and Adaptation: Successful salesmanship requires ongoing learning and adaptation. Sales professionals should stay updated with industry trends, customer preferences, and changing market dynamics. They must be flexible and adaptable in their approach to meet the evolving needs of customers. Salesmanship plays a vital role in driving sales, meeting revenue targets, and achieving business objectives. It is a dynamic skill set that combines the art of persuasion with effective communication and relationship building. By mastering the concept of Salesmanship, sales professionals can build trust, overcome objections, and influence potential customers to make purchasing decisions in their favor. 6.3 Differences among Personal Selling There are several key differences among various forms of Personal Selling. Here are some distinctions:  B2B (Business-to-Business) Selling vs. B2C (Business-to-Consumer) Selling: B2B Personal Selling involves selling products or services from one business to another. It often entails longer sales cycles, complex negotiations, and multiple decision-makers. B2C Personal Selling, on the other hand, focuses on selling directly to individual consumers, typically in a shorter sales cycle and with less complexity in decision-making. 7  Advertising and Sales Promotion  Direct Selling vs. Retail Selling: Direct Selling involves selling products or services directly to consumers in a non-store environment, such as door-to- door or through home parties. It often involves building personal relationships and providing demonstrations or personalized consultations. Retail Selling takes place in a traditional store setting, where salespeople interact with customers who visit the store. The emphasis is on assisting customers, providing information, and facilitating their purchase decisions.  Inside Sales vs. Field Sales: Inside Sales refers to selling activities conducted remotely, such as over the phone, email, or through online platforms. Inside salespeople typically work from a centralized location and interact with customers who may be located anywhere. Field Sales, on the other hand, involves salespeople who meet customers face-to-face, either at the customer's location or through scheduled appointments. Field salespeople often travel and have direct interactions with customers in person.  Transactional Selling vs. Consultative Selling: Transactional Selling focuses on completing a single sale or transaction. It is often associated with low- involvement or low-value purchases where customers have a clear understanding of their needs and seek a quick purchase. Consultative Selling, on the other hand, emphasizes a more advisory approach. Salespeople act as consultants, engaging in deeper conversations, understanding customer needs, and providing customized solutions. It is commonly used for high- involvement or complex purchases where customers require guidance and expertise.  Relationship Selling vs. Hard Selling: Relationship Selling emphasizes building and nurturing long-term relationships with customers. It focuses on trust, credibility, and ongoing customer satisfaction. Relationship salespeople prioritize customer needs, provide personalized solutions, and aim for repeat business and referrals. Hard Selling, on the other hand, places more emphasis on immediate sales results. It may involve more aggressive sales tactics, high- pressure techniques, and a focus on closing the sale rather than fostering long-term relationships. These are just a few examples of the differences among various forms of Personal Selling. The specific nature of the product or service being sold, the target market, and the sales environment can further influence the nuances and distinctions within Personal Selling approaches. 8 Introduction to Personal Selling and Salesmanship 6.4 Salesmanship and Sales Force Management Salesmanship and Sales Force Management are two distinct concepts within the realm of sales. Let's explore their differences:  Salesmanship: Salesmanship refers to the skills, techniques, and strategies employed by individual salespeople to effectively communicate, persuade, and influence potential customers to make a purchase. It focuses on the abilities and attributes of the salesperson in engaging with customers, building relationships, and closing sales. Salesmanship involves aspects such as product knowledge, effective communication, active listening, objection handling, and relationship building.  Sales Force Management: Sales Force Management, on the other hand, pertains to the broader management and coordination of a team or group of sales professionals within an organization. It involves overseeing and optimizing the performance of the sales team to achieve sales targets and organizational objectives. Sales Force Management encompasses activities such as recruitment, training, goal setting, performance evaluation, territory management, compensation planning, and motivation of the sales force. While Salesmanship concentrates on the skills and abilities of individual salespeople, Sales Force Management focuses on the strategic and operational aspects of managing a sales team. The primary goals of Sales Force Management include maximizing sales productivity, improving customer satisfaction, optimizing sales processes, and driving overall sales performance. 6.5 Qualities of a good salesperson Qualities of a good salesperson can vary depending on the industry and specific sales role, but here are some key qualities that are generally considered important:  Excellent Communication Skills: A good salesperson needs to have strong verbal and written communication skills. They should be able to articulate their thoughts clearly, actively listen to customers, and effectively convey the value and benefits of their products or services. 9  Advertising and Sales Promotion  Empathy and Emotional Intelligence: Salespeople who can understand and empathize with customers' needs and emotions are better equipped to build rapport and establish trust. Emotional intelligence allows them to adapt their approach, handle objections, and provide personalized solutions.  Product and Industry Knowledge: A good salesperson possesses a deep understanding of their products or services, as well as the industry they operate in. This knowledge enables them to address customer questions, provide accurate information, and position their offerings effectively against competitors.  Persuasive and Influential: Salespeople should be skilled in the art of persuasion and influence. They can highlight the unique selling points of their offerings, demonstrate value, and tailor their messaging to meet customer needs. They understand how to overcome objections and guide customers towards making a purchasing decision.  Self-Motivation and Drive: Successful salespeople are self-motivated and have a strong drive to achieve their goals. They are proactive, resilient in the face of rejection, and maintain a positive attitude even in challenging situations. They take ownership of their results and continuously seek ways to improve their performance.  Relationship Building: Building and nurturing relationships is crucial for long- term success in sales. Good salespeople invest time in understanding their customers, building trust, and cultivating lasting connections. They prioritize customer satisfaction and focus on creating a positive customer experience.  Problem Solving and Adaptability: Salespeople encounter various challenges and obstacles in their role. The ability to think critically, find creative solutions, and adapt to changing circumstances is essential. They can adjust their approach, pivot strategies, and tailor their solutions to meet specific customer needs.  Time Management and Organization: Effective salespeople manage their time efficiently and prioritize their tasks. They have strong organizational skills, ensuring they allocate time to prospecting, following up with leads, and maintaining relationships. They stay organized to maximize productivity and meet their sales targets. These qualities, combined with ongoing learning, resilience, and a customer-centric mindset, contribute to the success of a salesperson. Continuous improvement and 10 Introduction to Personal Selling and Salesmanship development of these qualities can lead to enhanced sales performance and stronger customer relationships. 6.6 Types of salespersons There are various types of salespersons based on their roles, responsibilities, and approach to selling. Here are some common types:  Inside Sales Representative: Inside salespersons primarily work from a central location, often making sales calls and conducting business remotely. They use phone calls, emails, and other digital communication methods to engage with customers, qualify leads, and close sales. Inside salespeople are skilled at building relationships through virtual interactions.  Field Sales Representative: Field salespersons, also known as outside sales representatives, spend a significant amount of time out of the office, meeting customers face-to-face. They visit clients at their locations, attend meetings, and make presentations to sell products or services. Field salespeople excel at building in-person relationships and have strong interpersonal skills.  Key Account Manager: Key account managers focus on nurturing and maintaining relationships with important clients or accounts. They work closely with these clients, understanding their specific needs and providing personalized solutions. Key account managers are responsible for managing the overall account strategy and ensuring customer satisfaction.  Sales Development Representative (SDR): SDRs are responsible for prospecting and qualifying leads. They reach out to potential customers, gather information, and determine their interest and readiness to buy. SDRs typically work closely with marketing teams to identify and nurture leads before passing them on to the sales team for further engagement.  Technical Salesperson: Technical salespersons specialize in selling technical products or solutions that require in-depth knowledge and expertise. They possess a strong understanding of the technical aspects of the products they sell and can effectively communicate the benefits and applications to customers. Technical salespeople often work closely with engineers, developers, or technical teams.  Account Executive: Account executives are responsible for managing the entire sales process, from prospecting and qualifying leads to closing deals. They have a deep understanding of the products or services they sell and work closely with customers to understand their needs and provide tailored solutions. 11  Advertising and Sales Promotion Account executives are often involved in negotiating contracts and building long-term customer relationships.  Retail Salesperson: Retail salespersons work in brick-and-mortar stores, engaging with customers who visit the store. They assist customers in finding products, provide product information, and facilitate the purchasing process. Retail salespersons require strong customer service skills and product knowledge.  Sales Manager: Sales managers oversee and lead a team of salespeople. They are responsible for setting sales targets, developing sales strategies, providing training and guidance, and monitoring the performance of the sales team. Sales managers focus on driving sales growth, achieving targets, and ensuring the overall effectiveness of the sales force. These are just a few examples of the different types of salespersons. The specific roles and titles may vary across industries and organizations. Salespeople often specialize in specific areas based on their strengths, industry knowledge, and customer segments they serve. 6.7 Role of Personal Selling in CRM The role of Personal Selling in Customer Relationship Management (CRM) is essential in nurturing and maintaining strong customer relationships. Personal Selling plays a crucial part in the following aspects of CRM:  Building Personalized Relationships: Personal Selling allows salespeople to establish one-on-one connections with customers. By engaging in direct interactions, salespeople can understand customer needs, preferences, and buying behaviors on an individual level. This knowledge helps in building personalized relationships, fostering trust, and creating a positive customer experience.  Collecting Customer Data: During the sales process, salespeople gather valuable customer information, such as contact details, preferences, and feedback. This data can be integrated into the CRM system, providing a comprehensive view of each customer's profile. By capturing and analyzing this information, businesses can better understand customer behavior and tailor their offerings to meet specific needs.  Customizing Sales Strategies: Personal Selling allows salespeople to adapt their sales strategies based on individual customer requirements. By leveraging 12 Introduction to Personal Selling and Salesmanship CRM data, salespeople can access customer insights, purchase histories, and interactions, enabling them to tailor their sales pitches, offers, and recommendations to each customer. This customization enhances the relevance and effectiveness of sales efforts.  Enhancing Cross-Selling and Upselling Opportunities: Personal Selling provides an opportunity for salespeople to identify cross-selling and upselling opportunities. By having direct conversations with customers, salespeople can uncover additional needs, suggest complementary products or services, and propose upgrades or add-ons. This personalized approach increases the likelihood of expanding the customer's purchase and driving revenue growth.  Managing Customer Interactions: Personal Selling contributes to effective management of customer interactions throughout the sales process. Salespeople can use CRM tools to track and record customer interactions, follow-ups, and conversations. This information helps in managing the sales pipeline, identifying potential bottlenecks, and ensuring timely and personalized follow-up with customers.  Retaining and Engaging Customers: Personal Selling plays a vital role in customer retention and engagement. By maintaining regular contact, addressing customer concerns, and providing ongoing support, salespeople can strengthen customer relationships and increase loyalty. They can leverage CRM data to proactively reach out to customers, offer assistance, and suggest relevant updates or enhancements.  Feedback and Improvement: Personal Selling provides a valuable feedback loop for businesses to improve their products, services, and overall customer experience. Salespeople can gather customer feedback, identify pain points, and communicate them to relevant departments within the organization. This feedback helps in refining offerings, resolving issues, and continuously enhancing the customer journey. 6.8 Conclusion The introduction to Personal Selling and Salesmanship provides a foundational understanding of the concepts and principles that drive successful sales practices. By recognizing the importance of building relationships, adapting to customer needs, and employing effective sales techniques, individuals can excel in the field of sales. Additionally, integrating Personal Selling within a Customer Relationship Management (CRM) framework enhances customer engagement, personalization, 13  Advertising and Sales Promotion and retention. Developing the qualities of a good salesperson, understanding different types of salespersons, and recognizing the role of Personal Selling in CRM are essential for achieving sales goals and fostering long-term customer loyalty. 6.9 Glossary  Personal Selling: The process of engaging with potential customers on an individual basis to promote, demonstrate, and sell products or services.  Salesmanship: The skills, techniques, and strategies employed by salespeople to effectively communicate, persuade, and influence potential customers to make a purchase.  B2B (Business-to-Business) Selling: The practice of selling products or services from one business to another.  B2C (Business-to-Consumer) Selling: The practice of selling products or services directly to individual consumers.  Direct Selling: Selling products or services directly to consumers in a non-store environment, such as door-to-door or through home parties.  Retail Selling: Selling products or services in a traditional store setting, where salespeople interact with customers who visit the store.  Inside Sales: Selling activities conducted remotely, such as over the phone, email, or through online platforms.  Field Sales: Sales activities involving face-to-face interactions with customers, either at their location or through scheduled appointments.  Transactional Selling: A sales approach focused on completing a single sale or transaction, often associated with low-involvement or low-value purchases.  Consultative Selling: A sales approach that involves acting as a consultant, engaging in deeper conversations, understanding customer needs, and providing customized solutions.  Relationship Selling: A sales approach focused on building and nurturing long-term relationships with customers, prioritizing trust, credibility, and customer satisfaction.  Key Account Manager: A salesperson responsible for managing and maintaining relationships with important clients or accounts.  Sales Development Representative (SDR): A salesperson responsible for prospecting and qualifying leads before passing them on to the sales team for further engagement. 14 Introduction to Personal Selling and Salesmanship  Account Executive: A salesperson responsible for managing the entire sales process, from prospecting to closing deals, and maintaining customer relationships.  CRM (Customer Relationship Management): A system or strategy that manages interactions and relationships with customers to improve customer satisfaction, loyalty, and sales effectiveness.  Customer Data: Information collected about customers, including their contact details, preferences, purchase histories, and interactions with the company.  Cross-Selling: The practice of offering additional products or services to customers that complement their initial purchase.  Upselling: The practice of suggesting higher-priced or upgraded products or services to customers.  Sales Pipeline: A visual representation of the sales process, tracking leads from initial contact to closing the deal.  Customer Loyalty: The degree of customer commitment and repeat business to a particular brand or company. 6.10 Self-Assessment Questions Essay Type Questions: 1. What is the main objective of personal selling? 2. How does personal selling contribute to customer relationship management (CRM)? 3. Name two types of salespeople and briefly describe their roles. 4. What are three qualities of a good salesperson? 5. Explain the difference between transactional selling and relationship selling. 6. How does cross-selling benefit both customers and businesses? Hints for the Essay Questions: a. The main objective of personal selling is to engage with potential customers on an individual basis to promote and sell products or services. b. Personal selling contributes to CRM by building personalized relationships, collecting customer data, and customizing sales strategies. c. Two types of salespeople are inside sales representatives (remote interactions) and field sales representatives (face-to-face interactions). 15  Advertising and Sales Promotion d. Qualities of a good salesperson include excellent communication skills, adaptability, and self-motivation. e. Transactional selling focuses on completing individual sales transactions, while relationship selling prioritizes building long-term customer relationships. f. Cross-selling benefits customers by offering complementary products or services, while benefiting businesses through increased sales and customer satisfaction. 6.11 Post Unit Reading Material  https://openstax.org/books/principles-marketing/pages/15-1-personal- selling-and-its-role-in-the-promotion-mix  https://smallbusiness.chron.com/4-types-salespeople-33679.html  https://www.gartner.com/en/articles/18-skills-every-salesperson-should- master  https://hbr.org/2006/07/what-makes-a-good-salesman  https://journals.sagepub.com/doi/abs/10.2307/41164945  https://keydifferences.com/difference-between-advertising-and-personal- selling.html 16 Introduction to Personal Selling and Salesmanship 6.12 Topics for Discussion forum  In your opinion, what are the key qualities or skills that make a salesperson successful in building and maintaining customer relationships?  How does the integration of Personal Selling within a CRM system enhance the effectiveness of sales efforts and contribute to long-term customer loyalty?  Share an example from your personal or professional experience where personalized selling techniques were employed effectively to close a sale or build a strong customer relationship. What factors contributed to its success? 17  Advertising and Sales Promotion 18 www.onlinejain.com