PROCESS OF SELLING KNEC NOTES

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.

  • 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.

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.

  • Initial contact.
  • Product demonstrations.
  • Trial periods.
  • Bidding price.
  • Negotiations.
  • Signing of contracts
  • Delivery of product/service being sold.

FACTORS AFFECTING THE SELLING PROCESS.

  • 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.
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