Sales Process

Описание: This video is on Sales Process.

Nail the Process of Selling that can be applied to any Business
Process of Selling
Various activities performed by salespeople are grouped into non-selling and selling activities.
Many steps in the selling process constitute selling activities. Preparation of salesperson, collecting payments, collecting information, traveling, etc. are parts of non-selling activities.

Process of Selling that can be applied to any Business
The process of Selling entails the following steps;
• Opening the sales call
• Sales Proposition
• Presentation
• Motivating the Customer
• Closing the Sale

1. Opening the Sales Call
Sometimes the saying "the first impression is the last impression" stands to be appropriate.
Therefore, a salesperson's introduction of himself is very crucial and affects the rest of the proceedings.
The main objective is to get closer to the emotions and wavelength of the prospect since this is not just a rapport-building stage for present calls but also one for future calls.
The product and the company should be introduced with the same spirit.

2. Sales Proposition
Sales proposition is made on the basis of quality, product, price, delivery package and payment.
Two very important functions are performed at this stage by the salesperson:
a. The need level of the buyer is understood.
b. The salesperson probes the buyer to discover his inner thought.

Process of Selling that can be applied to any Business
Probing, a psychological tool seeks answers to the following questions:
1. What is the buyer's real reaction to the sales proposal as compared to his verbal reaction?
2. What does the prospect understand about the market?
3. What is the prospect’s attitude towards the competitor's package?
4. Does the prospect have knowledge of competitor brands
5. Does the prospect have any idea about the pricing mechanism

3. Presentation
Presentation is crucial in supplementing or strengthening the sales proposal.
Establishing the product and sales package is the main objective of a presentation.
This involves studying the competitor's levels, the market structure, the uniqueness or distinctiveness of the sales proposal, etc.
A presentation can be a simple conversation or discussion. The first step towards stimulating a customer is a sales presentation.

4. Motivating the Customer
• Objections are managed
• Urgency or Climate for sale
Two separate actions are called for in order to stimulate or motivate a customer

5. Closing Sale
This is the pinnacle of the sales process. The salesperson finalizes the sale at this stage and receives the commitment of the buyer.
The logical conclusion of a sales call must be its closing.
The salesperson should be aware of when to strike, i.e. close the sale.
Timing is very important.
Things shouldn't be postponed to the next day.
While closing a sale, every salesperson goes through the majority of these five steps.

The Theory of Selling refers to the behavior of a salesperson toward the customer.

Theories of Selling is an important concept that explains the emerging role and responsibility of a salesperson to ensure the active sale of products or services.

Theories of Selling – Stimulus Response Theory

The Stimulus-Response Theory refers to the repetitive action of a salesperson to get the desired response from the customer.
It is important to apply the correct stimulus with the required efforts to initiate a positive response from the buyer

Common stimuli used by salespeople are

Personality projection includes manners, skills, and physical appearance.

Product campaign by keeping it at the core.

Competitor killing by minimizing their value.

Price concession through discounts.

Preferential treatment to a few customers who are loyal to the brand.

Drawbacks

Customer need is not a priority
The customer plays a passive role
Repetitive action can result in the customer losing interest

Example – Apple

Theories of Selling – Product Orientation Theory

In Product Orientation Theory the salesperson does not take an aggressive approach instead relies on presentation and explanation about the product.
The theory works on the assumption that the buyer has no knowledge about the product and it is the salesperson who has to convince him to buy by spreading product awareness.

Limitations

Complex market
Increase in competition

Example – Sony Sells MP3 Walkman in Bottles of Water

Theories of Selling – Need Satisfaction Theory

Need Satisfaction Theory is based on a win-win situation where a deal is closed to the mutual satisfaction of both the buyer and the seller.

This video is on Sales Process and it has the following sub-topics.

Time Stamps

0:22 - Process of Selling
4:22 - Selling Process- Steps
10:28 - Theories of Selling
16:18 - National Selling vs International Selling
21:17 - Organisational Selling vs Consumer Selling