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.
- The customer can know why they need the product-benefits
- Helps the product become more relatable to customer.
- Leads to customer loyalty.
- To make money for self and company one works for.
- Source of income.
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.
- Initial contact.
- Product demonstrations.
- Trial periods.
- Bidding price.
- Signing of contracts
- Delivery of product/service being sold.
- Holidays/life events-Christmas, birthdays speeds up or slows down the selling process.
- Job market-If individuals seeking employment opportunities are more selling dwindles.
- Financing availability-shortage of funds from lenders can negatively impact small and medium sized businesses.
- Stock market and investments-When faced with alternatives, investors put their money where they expect the best combination of high return and low-risk.
- Consumer confidence.
- World events ie politics, landscape and natural disaster.