The personal selling process - Coursework Example

Management Table of Contents Introduction 3 Business-to-business selling 3 Personal selling process of ThyssenKrupp 4 Conclusion 6 Reference List 7 Introduction Personal selling forms a critical part of marketing plan of a company that engages skilled sales person in a successful deal with a customer. The sales person should have the ability to successfully close the deal with the customer so that he/she is interested in the company products or services. In order to successfully close a sales deal, a sales person should be attentive to the present need of the customer and offer him/her the required products or services. It will be incorrect to state that the job of a sales person is easy, as convincing a human being for a product or services is hard due to the different bent of mind of the consumers (Michael, 2011; Ang, 2014). The companies lay emphasis on the art of selling and there is a definite process that is followed by a sales person for converting a lead into buyer. Thus, it is the most expensive form of marketing, where the sales person should follow definite steps in order to bring sales revenue to the company (Wild Boy, 2014). Each of these steps is important for the sales person and company. ThyssenKrupp AG is regarded as one of the largest steel producer in world and it also engages in providing systems and component to the automotive industry, elevators, escalators and industrial services to its customers. It engages in business-to-business selling with the customers (ThyssenKrupp AG, 2014). The project highlights the personal selling process followed by the sales person of ThyssenKrupp in order to sell elevators and escalators to companies in different industries. Business-to-business selling The sellers in the business-to-business (B2B) market play an important role in the sales process than the sellers who are engaged in the selling process of consumer products (Vitale, 2011). In a consumer market, the relation between the customers and sellers are brief and there is no exchange of information regarding the company during the transaction. However, it is easy to make clients in the consumer market who can return for repeat purchase but the same is difficult in case of B2B selling, where the sales person has to deal with business clients. In B2B selling, characteristics of the purchasing process are based on the relationship developed between the business clients and seller (sales person) (Vitale, 2011). It is observed that excellence in B2B selling is dependent on understanding customer need and their thinking process (James, 2011). Thus, it is important for the sales person to examine the decision making process of business customers during this type of selling process and make a good business relation. The personal selling process followed by ThyssenKrupp is detailed below. Personal selling process of ThyssenKrupp Personal selling can be divided into three different tasks such as order getting, order taking and support personnel (Lamb and McDaniel, 2007; Michael, 2011; Ang, 2014). The order getters aim to escalate the sales value of the company by selling products or services to new or existing customers. They are precious for the company as their goal is to target new market or company to sell its products or services (Vitale, 2011). In a B2B selling market, the sales person has to obtain extensive knowledge regarding the products or services so that they can encounter any types of question regarding the same. When a sales person approaches a business client there is high probability that the sales call will fail. The reason behind this failure can be the inefficiency of the sales person to explain the features of the product or services to the clients. The corporate customers are very particular regarding the details of the product as they usually make bulk purchase. The sales person should have the persuasive ability so that they can attract the attention of the clients and earn respect from the same (Michael, 2011; Ang, 2014). The sales representatives of ThyssenKrupp target renowned companies who are need of elevators for their construction purposes or others. These representatives follow certain steps in order to obtain the sales deal when they target corporate clients. The corporate clients have limited time to attend the sales persons and listen to their presentation. Thus, the sales representatives of ThyssenKrupp prepare brief presentation, which includes all important points in brief and attractive manner so that it attracts the attention of the clients very easily. Rigorous training is provided to the sales representative of the company in order to make them understand the sales process and customer requirements and psychology. The company even makes deal with government and supply elevators for public use. As for example, ThyssenKrupp Elevator had sold about 7,000 units of transportation equipment for passengers (which includes elevators and escalators) and 2,600 units to the rail department and infrastructural projects in Asia Pacific region (EPC Engineer, 2014; Michael, 2011; Ang, 2014). The work of an order taker is less tough than that of order getter as they do not have to convince the buyers instead they have to take the orders. They are involved in routine completion of sales process. In B2B selling process they collect orders from the companies, which are already targeted by the order getters. Sales personnel help in facilitating sales in the business and do not directly involve in selling process. In B2B selling market, missionary sales persons involve in such activities and try to convince its customers to persuade others to purchase their products (Lamb and McDaniel, 2007). The personal selling processes followed by ThyssenKrupp are as follows: Step1: Prospecting: The initial step to generate list of leads or prospects. ThyssenKrupp targets existing as well as new business clients for prospecting. It is a very crucial step for the company as identification of the right clients is very important in B2B selling process. The renowned companies, which are in need of escalators and elevators usually calls the sales representatives to give them information regarding the product. Moreover, the sales representatives also target small business firms by contacting them over telephone or electronic mail (Cant and Heerden, 2005; Michael, 2011; Ang, 2014). Step 2: Preapproach: Before approaching the business clients, the representatives of ThyssenKrupp attempt to understand their profile and need for the product. They should also give emphasis on the brands that are used by the companies presently so as to give a sales presentation where all the required features of the clients are displayed. ThyssenKrupp believes that if the customer needs are identified, it is easy to sell the products. Step 3: Approach: This is the step when the representatives of the company approach the business clients for sales of elevators and escalators with prior appointments. Appointments are required since the sales representative have to approach the target company’s executives, who remain busy in their work. If prior appointments are taken by the sales representatives, they have to waste time for making the executives listen to their sales speeches (Lamb and McDaniel, 2007). Step 4: Sales presentation: Before approaching corporate client in the B2B market, the representatives prepares sales presentation so as to brief the information of the products through a visual display. It assists the business clients to obtain the details of the products in a quick presentation without wasting much time. During this presentation, the sales representative has a crucial job, as the sale deal is dependent on few minutes’ presentation. The sales representatives have the pressure of converting the prospect into buyers by fulfilling the requirements (Friedman, 2011). Step 5: Closing the sales: Closing of sales is a vital part of the selling process as sales is dependent on it to a great extent. The closing of sales highlights the ability of the representatives to draw sales if the buyers are convinced with briefing of products. Step 6: Follow-up: An efficient sales person has the responsibility to follow up the sales call and delivery of the products to ensure that the customers have received the products in the right form and amount on time. This follow-up builds a sense of trust within the customers and if they are satisfied with the whole selling process there is a chance for repeat purchase and even recommendation (Lamb and McDaniel, 2007). The above mentioned sales process is followed by the renowned company, ThyssenKrupp AG in order to sell escalators, elevators and other products to the business clients. The process is vital for the company and the sales representatives should be efficient and skilled enough to successfully convert the sales presentation into a sales deal. Conclusion Personal selling process in B2B market is difficult to implement as convincing business clients as they are more informative than the consumers in the consumer market. ThyssenKrupp follows a successful personal selling process where the sales representatives are efficient enough to convert the business prospects into trusted customers. The selling process starting from prospecting to follow-up is maintained by the company and changes are made in the process according to the feedback from the customers. The customer feedbacks are crucial for the company operation as it identifies the loop holes in its selling process. Reference List Ang, L., 2014. Principles of integrated marketing communications. Cambridge : Cambridge University Press Cant, C. and Heerden, C., 2005. Personal selling. New York: Juta and Company Ltd. EPC Engineer, 2014. ThyssenKrupp Elevator Rides The Wave Of The Asian Metro And Rail Boom. [online] Available < http://www.epcengineer.com/news/post/12154/thyssenkrupp-elevator-rides-the-wave-of-the-asian-metro-and-rail-boom > [Accessed 16 September 2014]. Friedman, H., 2011. Personal Selling. [online] Available < http://academic.brooklyn.cuny.edu/economic/friedman/mmpersonalselling.htm > [Accessed 16 September 2014]. James, G., 2011. How to say it: Business to business selling. New Jersey: Prentice Hall Press. Lamb, C. and McDaniel, C., 2007. Marketing. Connecticut: Cengage Learning. Michael, L., 2011. Marketing: Defined, explained, applied. New York: Pearson Education. ThyssenKrupp AG., 2014. Group. [online] Available < http://www.thyssenkrupp.com/en/konzern/index.html > [Accessed 16 September 2014]. Vitale, R., 2011. Business to business marketing. New Delhi: Pearson Education. Wild Boy, 2014. Personal Selling Process: From Prospecting to Follow-Up. [online] Available at: < http://www.wildboy.co/blog/personal-selling-process-from-prospecting-to-follow-up/ > [Accessed 16 September 2014]. Read More