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CHAPTER 1 Personal Selling Today Introduction and Overview Copyright © 2004 Pearson Education Canada Inc. 1-1 CHAPTER 1 Personal Selling Today Learning Objectives: Describe the contributions of personal selling to today’s information economy Define “personal selling” and discuss the topic as an extension of the Marketing concept Describe the evolution of consultative selling from the Marketing era to present Define strategic selling and name the four broad areas in the Strategic/Consultative Selling Model Define relationship selling and name the three things that enhance it Describe how value-added selling strategies enhance the customer experience Copyright ©2004 Pearson Education Canada Inc. 1-2 CHAPTER 1 Personal Selling in the Information Age INCREASES IN RELATIONSHIP SELLING AND RELATIONSHIP MARKETING Industrial Economy 1860-1960 •Major advances in manufacturing and transportation •Strategic Resource is capital and natural resources •Business is defined by its products and factories Information Economy 1960-2020 •Major advances in information technology •Strategic resource is information •Business is defined by customer relationships •Sales success depends on creating value for customers Copyright ©2004 Pearson Education Canada Inc. 1-3 CHAPTER 1 Value-Added Selling “Improving the sales process to create value for the customer. Salespeople add value when they offer better advice and product solutions, carefully manage customer relationships, and provide better service after the sale.” Copyright ©2004 Pearson Education Canada Inc. 1-4 CHAPTER 1 Personal Selling Defined Personal Selling involves person-to-person communication with a prospect. It is a process of developing relationships, discovering needs, matching appropriate products to these needs, and communicating benefits through informing, persuading, and reminding. Copyright ©2004 Pearson Education Canada Inc. 1-5 CHAPTER 1 Personal Selling Philosophy involves Appreciating the value of Personal Selling Adopting the Marketing Concept Becoming a problem solver and partner with your customers to help them make better buying decisions Copyright ©2004 Pearson Education Canada Inc. 1-6 CHAPTER 1 Strategic/Consultative Selling Model Strategic Step Develop a Personal Selling Philosophy Prescription · Value Personal Selling · Adopt Marketing Concept · Become a Problem Solver/Partner Copyright ©2004 Pearson Education Canada Inc. 1-7 CHAPTER 1 Evolution of Personal Selling (1950 to Present) Sales and Marketing Eras Marketing Era (Middle 1950’s-1960”s) Selling Emphasis Determine needs and wants of target markets and adapt to delivering desired satisfaction. Customer orientation replaces product orientation. Copyright ©2004 Pearson Education Canada Inc. 1-8 CHAPTER 1 Evolution of Personal Selling (1950Selling to Emphasis Present) Sales and Marketing Eras Marketing Era (Middle 1950’s-1960”s) Consultative Selling Era (Late 1960’s-1970’s) Determine needs and wants of target markets and adapt to delivering desired satisfaction. Customer orientation replaces product orientation. Salespeople becoming diagnosticians of customer’s needs as well as consultants. Mass markets change to target markets. Copyright ©2004 Pearson Education Canada Inc. 1-9 CHAPTER 1 Evolution of Personal Selling (1950 to Present) Sales and Marketing Eras Marketing Era (Middle 1950’s-1960”s) Consultative Selling Era (Late 1960’s-1970’s) Strategic Selling Era (1980’s) Selling Emphasis Determine needs and wants of target markets and adapt to delivering desired satisfaction. Customer orientation replaces product orientation. Salespeople becoming diagnosticians of customer’s needs as well as consultants. Mass markets change to target markets. Evolution to a more complex selling environment with greater emphasis on niches. More emphasis on planning. Copyright ©2004 Pearson Education Canada Inc. 1-10 CHAPTER 1 Evolution of Personal Selling (1950 to Present) Sales and Marketing Eras Marketing Era (Middle 1950’s-1960”s) Consultative Selling Era (Late 1960’s-1970’s) Strategic Selling Era (1980’s) Relationship Selling Era (1990’s-Present) Selling Emphasis Determine needs and wants of target markets and adapt to delivering desired satisfaction. Customer orientation replaces product orientation. Salespeople becoming diagnosticians of customer’s needs as well as consultants. Mass markets change to target markets. Evolution to a more complex selling environment with greater emphasis on niches. More emphasis on planning. Salespeople are encouraged to consider long term, high quality partnerships with customers. Automation and information important. Copyright ©2004 Pearson Education Canada Inc. 1-11 CHAPTER 1 Strategic Market Plan - Definition A Strategic Market Plan outlines the methods and resources required to achieve an organization’s goals within a specific target market, taking into consideration all the major functional areas of the business that must be coordinated, such as production, marketing, finance, and human resource management. Copyright ©2004 Pearson Education Canada Inc. 1-12 CHAPTER 1 Tactics versus Strategies Tactics are techniques, practices, or methods salespeople use during face-to-face interactions with customers, while strategies are what salespeople employ as a result of pre-call planning to ensure that they call on the right people, at the right time, and with the right tactics to achieve positive results. Copyright ©2004 Pearson Education Canada Inc. 1-13 CHAPTER 1 Focus on Relationship Selling Salespeople who have adopted Relationship Selling work hard to build and nourish long term partnerships. They rely on a personal, customized approach to each customer. Copyright ©2004 Pearson Education Canada Inc. 1-14 CHAPTER 1 Duration of Relationships Insert Figure 1.4 here Duration of Relationships Copyright ©2004 Pearson Education Canada Inc. 1-15 CHAPTER 1 Integrated Marketing Communications Insert Figure 1.5 here. Integrated Marketing Communications Copyright ©2004 Pearson Education Canada Inc. 1-16 CHAPTER 1 Strategic/Consultative Selling Model Strategic Step Prescription Develop a Personal Selling Philosophy Marketing Concept •coordinate all activities •to create satisfied customers •and achieve company goals. · Value Personal Selling · Adopt Marketing Concept · Become a Problem Solver/Partner Copyright ©2004 Pearson Education Canada Inc. 1-17 CHAPTER Strategic/Consultative Selling Model 1 Strategic Step Prescription Develop a Personal Selling Philosophy Develop a Relationship Strategy · · · · · · Value Personal Selling Adopt Marketing Concept Become a Problem Solver/Partner Project positive, professional image Practise communication-style flexing Behave ethically Copyright ©2004 Pearson Education Canada Inc. 1-18 CHAPTER 1 Strategic/Consultative Selling Model Strategic Step Prescription Develop a Personal Selling Philosophy Develop a Relationship Strategy Develop a Product Strategy · · · · · · · · · Value Personal Selling Adopt Marketing Concept Become a Problem Solver/Partner Project positive, professional image Practise communication-style flexing Behave ethically Become a product expert Sell benefits Configure value-added solutions Copyright ©2004 Pearson Education Canada Inc. 1-19 CHAPTER 1 Strategic/Consultative Selling Model Strategic Step Prescription Develop a Personal Selling Philosophy Develop a Relationship Strategy Develop a Product Strategy Develop a Customer Strategy · · · · · · · · · · · · Value Personal Selling Adopt Marketing Concept Become a Problem Solver/Partner Project positive, professional image Practise communication-style flexing Behave ethically Become a product expert Sell benefits Configure value-added solutions Understand customer behaviour Discover customer needs Develop prospect base Copyright ©2004 Pearson Education Canada Inc. 1-20 CHAPTER 1 Strategic/Consultative Selling Model Strategic Step Prescription Develop a Personal Selling Philosophy Develop a Relationship Strategy Develop a Product Strategy Develop a Customer Strategy Develop a Presentation Strategy · · · · · · · · · · · · · · · Value Personal Selling Adopt Marketing Concept Become a Problem Solver/Partner Project positive, professional image Practise communication-style flexing Behave ethically Become a product expert Sell benefits Configure value-added solutions Understand customer behaviour Discover customer needs Develop prospect base Prepare objectives Develop presentation plan Provide outstanding service *Strategic/consultative selling evolved in response to increased competition, more complex products, increased emphasis on customer needs, and growing importance of long term relationships. Copyright ©2004 Pearson Education Canada Inc. 1-21 CHAPTER 1 Create Customer Value Insert Figure 1.8 here. Create Customer Value Copyright ©2004 Pearson Education Canada Inc. 1-22