IIMM/DH/02/2006/8154, Sales Management
Q1. (b) In organizing sales the approaches to the prospect may differ from person to person,customer to customer and situation to situation. Describe various types of approaches used. Answer:-
Sales are the ultimate goal of an organization to earn reasonable profit against satisfying customer andcosumer need; which should be converted into wants by matching the Social, Culutral, Psychological andBehavorial Factors to generate demand of prodcut.Personal selling is widely used tool to sale the product and there are some Traditional and Modern Salesapproaches used by Sales TeamTraditional & Modern Sales approaches include total 3+5=8 approaches. First i would discuss the traditionalonesCanned Sales Presentation it is prepared structured sales script memorized by Sales Man to present the product, It is widely used by telemarketers for different products as it's easy way to describe features and benefits of products, it is also used for door to door selling.Stimulus-Response Theory it is that potential customer will buy the product only if hear certain statementswhich should be presented in correct manner Selling Formula A sales approach used to lead the potential customer through different stages of buying process in persuasive manners, Its formula AIDR (attentition, interest, desire, resolve) was published in 1902which was revised by AIDA (attentition, interest, desire, action), if prospect is correctly taken through these 4different stages it will surely be a successful sales.
The sale can be made through
Direct sales, involving person to person contact
Sales agents (real estate, manufacturing)
, also known as
, can refer to a method of trading sometimes used by organizations when procuring large contracts for goods and/or serviceswhere the customer takes control of the selling process by issuing aRequest for Proposal(RFP) andrequiring a proposalresponse from previously identified or interested suppliers. Complex salesinvolve long sales cycles with multiple decision makers. Multiple stakeholders and stakeholder groups contribute to every complex sale.Any product or service may become a complex sale. In some instances a complex sale occurs whenthe market is mature and the stakes high enough to warrant attention from a variety of stakeholders inthe buying organization. In other instances a complex sales process is needed when the buyer hasnever had experience with the vendor, technology being sold, or if the solution is business critical or