The Selling Process and Selling Tools Essay Example | Topics and Well Written Essays - 1750 words

The Selling Process and Selling Tools - Essay Example Determining and estimating the competition strength is also important in sales and marketing. What qualifies a service or a product to particular market segmentation and what hinders maximum profits should be determined. Knowledge of the segment that will need a company’s product or services will save time and resources, and this can be done by determining dimensions of sales. The demand for a product should be well estimated for accurate production. Demand estimation will reduce wastages of resources or loss of customers because the products were not enough. Trade area analysis is very important in sales, as a company will know which part of the country needs their goods or services. Trade areas differ with geography, political stability, and economic advantage and a company that has all these details will have a competitive advantage. Market potential and sales forecast should also be checked before a company engages are sales in an area. The product that a company is sellin g is the most important aspect is sales and marketing. What the product entails is something that matters to the customers and should be what a company takes it into account before manufacturing it. Why the product, who will it benefit more, where will it be sold, how much will it go for, and what profits margin is expected to bring. A good product should not stay on the shelf for long instead every production should be increased because demand has also increased. Pricing for personal selling has been considered the strongest promotion tool as it personalizes the message to the customer. The sales tend to be higher when personal selling is conducted, ensuring that all the profits go to the company instead of having to divide them among the sales agents. Personal selling also uses various technologies and helps overcome geographic limitations because the companies are able to draw budgets for the sales. This kind of selling also promotes good relationships between the customers, mana gement, and employees. This creates loyalty in the company a very important aspect of a business. Promotion strategy is an element very important in the marketing mix that involves advertising of a product for customers to be familiar with it before purchasing. Advertising to be done before the product is in the market to get people responses and ensure that the customers do not forget its value. Personal selling is the other component of promotion strategy where the producer promotes their product personally. This creates brand loyalty from the customers ensuring that they do not stop using the product.