PROCESS OF SELLING

PROCESS OF SELLING

This can be defined as the last step in chain of commerce where a buyer exchanges cash for a sellers good/service or the activity of trying to bring this about.

Refers to give or handing over something in exchange for money.it involves persuading someone of the merits of a particular product or service.

IMPORTANCE /PURPOSE OF SELLING

  1. The customer can know why they need the product-benefits
  2. Helps the product become more relatable to customer.
  3. Leads to customer loyalty.
  4. To make money for self and company one works for.
  5. Source of income.

PROCESS OF SELLING

This is the complete set of steps that must take place in order to execute a sales transaction from beginning till the end. The process involves the following steps.

  1. Initial contact.
  2. Product demonstrations.
  3. Trial periods.
  4. Bidding price.
  5. Negotiations.
  6. Signing of contracts
  7. Delivery of product/service being sold.

FACTORS AFFECTING THE SELLING PROCESS

  1. Holidays/life events-Christmas, birthdays speeds up or slows down the selling process.
  2. Job market-If individuals seeking employment opportunities are more selling dwindles.
  3. Financing availability-shortage of funds from lenders can negatively impact small and medium sized businesses.
  4. Stock market and investments-When faced with alternatives, investors put their money where they expect the best combination of high return and low-risk.
  5. Consumer confidence.
  6. World events ie politics, landscape and natural disaster.
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