Indicator 2.01 Acquire the foundational knowledge of selling and understand its nature and scope.

WF MarketingIndicator 2.01 A Acquire the foundational knowledge of selling and understand its nature and scope.WHAT IS SELLING?Responding to a consumer needs and wants through planned, personalized communication in order to influence purchase decisions and ensure satisfaction.

Planned learn about the productPersonalized interaction with the customerInfluence help the customer make decisionsSatisfaction means repeat business

WHO SELLS?EVERY BUSINESS SELLS!Manufacturers sell to wholesalers and retailersWholesalers sell to retailersRetailers sell to consumers Service- selling organizations

Example: John decided to manufacturer door bells. He went to a bank and convinced the loan officer to give him a loan to start his business. After the obtained the loan he began producing doorbells. He then sold them to Wal-Mart, who sold them to consumers. WHY DO CONSUMERS BUY?To obtain the goods and services they desire or must have to exist (ultimate consumption)For resaleFor use in business operationsUsed in the production of other goodsUsed to operate the business

BUYING MOTIVESEmotional based on emotion (ex. Social approval, recognition, power, love, prestige)

Rational conscious, logical reasons for purchase (ex. Saves time or money, quality, service)

Patronage decisions to buy from one business over another (ex. Company policies, product assortment, fashion)

Which Buying Motive?

WHAT IS SOLD?Tangible items GOODSCan be touched, tasted, seen, smelled, and/or heard

Intangible items SERVICESProductive activities we pay others to perform

WHERE CAN SELLING OCCUR?Everywhere you have person-to-person contactOver the phoneOver the InternetStoreOn your doorstepEtc.

HOW ARE PRODUCTS SOLD?Directly to the user Direct DistributionExamples:Doctors sell their services directly to their patientsFarmers sell their produce directly to consumers at roadside standsIndirectly through intermediaries (wholesalers, retailer, agents, etc.) Indirect DistributionExamples:A real estate agent sells a houseFood lion purchases Pepsi to resale to consumers9ROLE OF SELLING IN OUR ECONOMYKeeps the economy movingFlow of buying and sellingPromotes competitionAffect employmentMore sales = growing business = more hiresAdds utilityUsefulness of the productHelps determine customers needsTwo way communicationCreates a desire for productsAppeal to reasons that customers buyCHARACTERISTICS OF A GOOD SALESPERSONProduct knowledgeEthical standardsSelling skillsBelief in selling as a servicePersonal appearanceCommunication skillsCreativitySelf-confidence