• There is some contact between buyer and seller after the sale so that an ongoing relationship is built. • Client/prospects need specific information. • The purchase tends to involve large sums of money.
Characteristics of personal selling • Impact - sales representatives have a much greater chance of engaging initial attention and responding to situations. • Precision - targeting and message precision. • Cultivation - sales force plays an important role in creating and maintaining buyer – seller relationships. • Cost - personal selling is very labour intensive so comes at a cost.
MARKET ANALYSIS (in a given period) MARKET POTENTIAL MARKET POTENTIAL PRIMARY DEMAND PRIMARY DEMAND SALES POTENTIAL SALES FORECAST SALES QUOTAS SALES POTENTIAL SALES FORECAST SALES QUOTAS SECONDARY DEMAND SECONDARY DEMAND INDUSTRY/ MARKET LEVEL INDUSTRY/ MARKET LEVEL COMPANY LEVEL COMPANY LEVEL
MARKET ANALYSIS Market Potential Sales Potential It is an estimate of the possible sales of a product or of a product line for an entire industry in a market during a stated period under ideal conditions. A market is a customer group in a specific geographic area. It refers to the portion of the market potential that a particular firm can reasonably expect to achieve during a stated period. Market potential represents the maximum possible sales for all the sellers of the good under ideal conditions . Sales Potential, the maximum sales for an individual firm .
MARKET ANALYSIS Sales Forecast Sales Quotas Sales goals assigned , for a given period , to the sale units (an individual sales person, a sales territory, a region, a dealer / distributor). It allows the Sales Manager to measure and evaluate the personnel selling efforts . It is an estimate of sales (in value or units) for a specified future period . It may be for a specific product, for a merchandise category or for an entire product’s line.