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MCom 2nd Year Advertising Sales Management Study Material Notes

MCom 2nd Year Advertising Sales Management Study Material Notes

MEANING OF THE SELLING PROCESS 

In the olden days, demand always exceeded the supply and, therefore, there was no need to make effort to sell one’s own products. But with the progress of society, production is carried out on a large scale and by several competitors which result in overproduction and competition among the producers. Now the status of the consumer has become superb and the producer has to go to the consumers to sell his products. (MCom 2nd Year Advertising Sales Management Study Material Notes)

Thus, the consumer is the monarch. The producer follows several steps so as to persuade the consumer to buy the product that will give him satisfaction. These steps are known as stages of the selling process and the whole process is known as the selling process. 

Stages or Steps in Selling Process

The selling process is composed of the following seven stages or steps:

1. Prospecting. Prospecting is the first and the foremost step in the selling process. It refers to identifying and locating potential buyers. It helps in planning the whole selling effort in order to minimize waste. Regular and systematic prospecting is the foundation of all selling. It is the pivot round in which the whole selling process rotates.

2. Pre-approach. Pre-approach is the second step in the selling process. The salesman should acquire sufficient information about such prospects, so that he may approach each one in the most effective manner. It is referred to as ‘pre-approach. It involves developing an understanding of those prospective buyers who have been identified and who are to be called by the salesman.

It may relate to buyers’ needs personality traits and behavior patterns that form their buying decisions. Pre approach prepares an effective background for making an approach. (MCom 2nd Year Advertising Sales Management Study Material Notes)

3. Approach. The approach is the third step or stage in the selling process. Here the salesman comes in contact with the prospect. Face-to-face contact with the prospect is termed an approach. It involves the use of different moods to reach the prospect, so that the buyer may be offered the product produced by the selling house.

4. Presentation and Demonstration. It is the fourth step in the selling process. Here the salesman demonstrated to the customers the characteristics of the products ready for sale. The main objective behind this is to convince the customer that the salesman’s products are the best ones for satisfying his needs. In this way, effective presentation and demonstration play a vital role in the selling process.

5. Meeting or Handling Objections. It is the fifth step in the selling process. Under this step, the salesman is required to handle and overcome objections raised during presentation and demonstration. The customer usually asks questions. raises objections and seeks an explanation. It is the salesman’s job to effectively meet, handle and answer them in a most convincing, effective, and systematic manner. (MCom 2nd Year Advertising Sales Management Study Material Notes)

6. Closing the Sales. It is the sixth step in selling refers to the request for getting an order. After having objections, the salesman clinches the deal by closing the demonstration. The object is to get the customer in a mood of saying ‘yes’, so that salesman can ask for the order. The salesman is expected to be convincing and effective in this respect.

7. Follow up. It is the important but not the least important step selling process. After closing sales it is important for the salesman to execute the order book. It builds up goodwill, ensures feedback, and encourages repeat purchases.

MEANING AND DEFINITION OF SALESMANSHIP

Salesmanship is the art of selling products or services to the buyer. It is the art of persuading and convincing the customers to buy the given products or services. It is the ability to impress upon the people to buy: it is an art of persuading the people to buy and above all, it is the ability, to turn a prospect into a buyer. Thus, it includes all those activities that are to be undertaken to convert a trying ‘suspect into a ‘prospect and then the prospect into a customer.

The main definitions of salesmanship as given by different experts are given below:

T.E. Knox, “Salesmanship is the ability to persuade to want what they already need.”

W.G. Carter, “Salesmanship is an attempt to induce people to buy goods.”

H.H. Houghton, “Salesmanship is the personal service rendered to the community with the marketing of goods.”

R.S. Davar, “Salesmanship may be defined as the art of persuading persons to buy goods which will give them lasting satisfaction by the use into process …… it is the ability to convert human needs into wants. Salesmanship is the persuasion and not compulsion.”

Russel and Beach, “The Salesmanship is the art of personal persuasion employed by the seller to induce others to buy what he has to sell.”

Ripley, “Salesmanship is the power to persuade plenty of people to pleasurably and permanently purchase your product at a profit.”

Prof. Stephanson, “Salesmanship refers to conscious efforts on the part of the seller to induce a prospective buyer to purchase something that he had not really decided to buy, even if he had thought of favorably. It consists of persuading people to buy what you have for 30 in making them want it, in helping to make up their minds.”

Garfield Blak, “Salesmanship consists of winning the buyer confidence for the seller’s house and goods thereby winning regular permanent customers.”

After going through the above definitions, we may define salesmanship “as personal selling and skill by which the seller persuades the prospective customers to buy goods and services for their mutual profit and satisfaction.” Characteristics or Features of Salesmanship

The main characteristic features of salesmanship are given below: 

(i) Salesmanship is a science in the sense that one human mind influences another human mind. 

(ii) It is an art in the sense that it converts the needs of the prospective customers into wants. 

(iii) It is the art of attracting and persuading customers to buy goods or services. 

(iv) It imparts knowledge of the new products and thus assists the consumers. In this way, it is a personal service rendered to the prospective consumer.  (MCom 2nd Year Advertising Sales Management Study Material Notes)

(v) It is the art of winning the buyer’s confidence in the seller’s goods. It may make a customer permanent 

(vi) It helps to establish a cordial relationship between the organization and the customer. It benefits all the organization, the seller, the consumer, and the whole economy.  (MCom 2nd Year Advertising Sales Management Study Material Notes)

(vii) It is the ability of the seller to pursue the people to buy goods and services at a price that will benefit the seller as well as the buyer.  (MCom 2nd Year Advertising Sales Management Study Material Notes)

(viii) It discourages the bargaining tendency of the consumers. 

(ix) It is an individual phenomenon. 

(x) It is an individual activity because it is the ability of the salesman which induces the buyer to purchase the commodity.

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