• Selling and Sales Management

    After the management has developed the company’s product, priced it and established its distribution channel, they cannot just sit and wait for orders rolling in. The Market needs to be informed about it and show why and how it is a best buy and most suitable product for them, and this job is done by the sales management.

    Selling is defined as influencing or persuading people to buy what you want to sell. Sales person is a person who does the act of selling. The quality of selling is referred as salesmanship. Salesmanship comprises of activities that are to undertaken to convert suspect into a prospect.

    Personal Selling is a broader concept then salesmanship. For implementing a marketing program personal selling along with other marketing elements such as pricing, advertising, product development and research, physical distribution and marketing channels is used.

    Key Functions of Salesmanship

    Key functions of salesmanship are as follows

    • Introduce Products to the Customers
    • To guide and enable a customer to decide what to buy and what not to buy
    • To create demand in the market for the supply
    • To create new wants along with maintaining old demands
    • To conduct effective selling at minimum cost
    • To collect information about the market

    Sales Process

    Sales process denotes the entire process of converting a suspect to a prospect, approaching them, negotiating with the price and completing the order. The entire sales process can be divided in 6 steps. The term SPANCO  covers the entire sales process.

    S- Suspect

    P-Prospect

    A-Approach

    N-Negotiation

    C-Closure

    O-Order

    Suspect is only some data or information which was collected or gathered from different sources. At this time, it is not clear whether he is an appropriate buyer or not.

    Prospect is a suspect who shows some interest in your product. Here the sales person tries to qualify the prospect that has shown positive interest in the product or services. The chances of getting a prospect among a list of suspects are very less and a prospect does not necessarily mean a buyer.

    Approach is a stage where the salesperson approaches the prospect to buy the product or services. Approach can be done by direct visit, by calling or by sending introductory mail of the product as well as services.

    Negotiation is a stage where a proper discussion happens between the sales person and the buyer to reach a mutually agreed price for the product or services. Here all the terms and conditions are also finalized and agreed upon by both the parties.

    Closure is a stage where the buyer agrees to buy the product and services.

    Order is series of request or the one time request placed by the customer to buy the product or services

    One should have proper knowledge of approaching a client and objection handling technique to move the customer from prospect stage to Closure.

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