Sales and Marketing Techniques

Posted on Jun 10, 2024 in Economy

ITEM 2: PREPARATION OF TENDER

2.1 Analysis of Requirements

You must obtain all necessary information to argue for selling the product or service. Consider the functions, characteristics, and needs of the prospective buyer. The communication process is central to this phase. The communication between the issuer (in this case, you) and the prospect (the potential buyer) is bidirectional, not unidirectional.

Obtaining information is achieved through two types of questions:

  • Open questions: These allow the client to reply with a detailed opinion on the matter.
  • Closed questions: These require the client to respond with an affirmation or negation.

2.2 The Elements of the Offer

A well-structured offer leads to a good sales result. The proper presentation of an offer should follow these six steps:

  1. Introduction: Begin by addressing the client’s needs identified during the interview.
  2. Generate Interest: Present the offer in a way that captures the customer’s attention.
  3. Explain Clearly: Use clear and concise language to explain how the product or service meets the client’s needs.
  4. Answer Questions: Address any questions the customer may have in a clear and concise manner.
  5. Probe for Understanding: Check the client’s understanding of the presentation and address any concerns.
  6. Utilize Visual Aids: Use diverse audio-visual media such as brochures, diagrams, surveys, and samples to enhance the presentation.

TOPIC 3: MARKETING

Marketing encompasses a set of activities designed to satisfy consumer needs with a product or service. It involves directing the flow of goods and services from producer to consumer.

Objectives of Marketing

  1. Meet consumer needs.
  2. Achieve optimal production and sales levels with quality and fair cost.
  3. Harmonize efforts throughout the organization.
  4. Generate profit.

Evolution of Marketing

  1. Phase of the Industrial Revolution: Needs grew faster than supply due to limited production. The focus was on increasing production to meet demand.
  2. Phase of Economic Growth: Industrial trade became outdated due to market expansion, difficulty adapting to mass production, and a need for greater control over demand. The objective shifted to establishing a commercial organization capable of distributing mass-produced goods.
  3. Phase of the Economy of Abundance: Overproduction became common. The focus shifted from production to demand. Marketing became central to business, focusing on producing what could be sold.
  4. Postindustrial Society: Marketing seeks to balance supply and demand.

ITEM 4: CONSUMER RESEARCH

Needs

Maslow established a hierarchy of needs:

  1. Physiological Needs: These are the most basic needs for survival, such as food, water, shelter, and sleep.
  2. Safety Needs: These needs relate to feeling safe and secure in one’s environment, both physically and emotionally.
  3. Love and Belonging Needs: These needs involve feeling loved, accepted, and connected to others.
  4. Esteem Needs: These needs relate to feeling good about oneself and having confidence in one’s abilities.
  5. Self-Actualization Needs: These are the highest level of needs and involve fulfilling one’s potential and living a meaningful life.

Maslow argued that humans are motivated by a hierarchy of needs. Once a need is satisfied, a new one emerges. People strive for things within their reach, leading to motivational differences across classes, countries, and cultures.

For instance, according to Maslow, a starving person would be content with food for life. Once basic needs are met, the need for security and stability arises, followed by the need for love, affection, and acceptance.

Maslow categorized esteem needs into two types: the desire for strength, achievement, independence, and freedom, and the desire for reputation, recognition, and appreciation. Finally, self-actualization involves the desire for personal growth and fulfillment.

It’s important to note that Maslow’s hierarchy is not absolute. Some individuals may prioritize certain needs over others, and the satisfaction of one need doesn’t necessarily have to be 100% before another emerges.

Motivations

a) Inherent and Learned Reasons:

  • Physiological needs (hunger, thirst, pain, sex) are primary, inherent motives.
  • Social needs (cooperation, fear) are learned motives.

b) Emotional and Rational Reasons:

  • Emotional reasons include hunger, thirst, desire for a mate, safety of loved ones, prestige, and pride.
  • Rational reasons involve considerations of price, utility, durability, and efficiency.