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Dibrugarh University: Personal Selling and Salesmanship Solved Question 2022
Dibrugarh University B.Com 6th Sem Paper
Personal Selling and Salesmanship 2022
(Skill Enhancement Course)
Paper: SEC – 6.1
Full Marks: 40
Pass Marks: 12
Time: 1½ hours
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1x4=4
(a) Give an example of a travelling salesman.
Ans:- An example of a travelling salesman could be someone who travels from city to city selling products or services, such as a pharmaceutical sales representative.
(b) What is the highest level of need according to Maslow’s theory?
Ans:- According to Maslow's hierarchy of needs, the highest level of need is self-actualization, which refers to the realization of one's full potential and the desire to become the most that one can be.
(c) Which is the last step in selling process?
Ans:- The last step in the selling process is often referred to as "closing the sale," where the salesperson finalizes the transaction and secures the commitment from the customer to purchase the product or service.
(d) Give an example of ethics in selling.
Ans:- An example of ethics in selling could be a salesperson providing transparent and accurate information about the product or service, ensuring that the customer makes an informed decision without being deceived or manipulated.
2. Write short notes on (any two): 4x2=8
(a) Preliminary functions of selling.
(b) Store salesman.
(c) Closing of sale.
(d) Significance of salesmanship.
Ans:- (a) Preliminary functions of selling:
Preliminary functions of selling encompass various activities that salespeople undertake before engaging with potential customers. These functions are crucial in setting the stage for a successful sales process. Here are some key components:
1. Prospecting: This involves identifying and qualifying potential customers or leads who are likely to be interested in the product or service being offered. Salespeople may use various methods such as cold calling, networking, referrals, or analyzing demographic data to find prospects.
2. Qualifying leads: Once potential customers are identified, salespeople must assess their suitability as prospects. This involves evaluating factors such as the prospect's needs, budget, authority to make purchasing decisions, and timeline for buying.
3. Pre-approach: Before making contact with the prospect, salespeople often conduct research to gather relevant information about the prospect and their organization. This includes understanding their industry, challenges, competitors, and any previous interactions they may have had with the company.
4. Approach: The approach stage involves initiating contact with the prospect in a manner that captures their attention and establishes rapport. This could be through phone calls, emails, social media messages, or in-person meetings. The goal is to create a positive first impression and start building a relationship with the prospect.
(b) Store salesman:
A store salesman is an individual employed by a retail establishment to assist customers with their purchases and provide them with information about products or services. Here are some key aspects of the role:
1. Customer assistance: Store salesmen are responsible for greeting customers, understanding their needs, and helping them find suitable products. They may provide information about product features, specifications, pricing, and availability to assist customers in making informed decisions.
2. Product knowledge: A good store salesman is knowledgeable about the products or services offered by the store. They undergo training to understand the features, benefits, and uses of various products so they can effectively communicate this information to customers.
3. Customer service: Store salesmen play a crucial role in delivering excellent customer service. This includes addressing customer inquiries, resolving complaints or issues, and ensuring a positive shopping experience for every customer.
4. Merchandising: Salesmen may also be involved in merchandising tasks such as restocking shelves, arranging displays, and maintaining the cleanliness and organization of the store.
5. Sales promotion: Store salesmen may be tasked with promoting special offers, discounts, or promotions to customers to encourage sales and drive revenue for the store.
(c) Closing of sale:
The closing of sale is the final stage of the selling process where the salesperson seeks to obtain a commitment from the prospect to make a purchase. It involves several key steps:
1. Handling objections: Before closing the sale, the salesperson may need to address any concerns or objections raised by the prospect. This involves listening to the prospect's objections, empathizing with their concerns, and providing relevant information or solutions to alleviate their doubts.
2. Asking for the order: Once objections have been addressed and the prospect is ready to buy, the salesperson must ask for the order. This may involve using closing techniques such as trial closes, assumptive closes, or direct closes to prompt the prospect to make a decision.
3. Finalizing the transaction: After the prospect agrees to make a purchase, the salesperson completes the necessary paperwork or processes the transaction through the point-of-sale system. This includes confirming the details of the sale, such as the product or service purchased, the price, payment method, and delivery arrangements.
4. Providing reassurance: Even after the sale is closed, the salesperson may continue to provide reassurance to the customer by expressing gratitude for their business, offering post-sale support or assistance, and ensuring satisfaction with the purchase.
(d) Significance of salesmanship:
Salesmanship plays a crucial role in the success of businesses and the economy as a whole. Here are some key reasons why salesmanship is significant:
1. Revenue generation: Salesmanship is instrumental in generating revenue for businesses by persuading customers to purchase products or services. Effective sales techniques help companies attract customers, close deals, and drive sales growth.
2. Customer relationships: Salesmanship is essential for building and maintaining positive relationships with customers. By understanding their needs, providing personalized recommendations, and delivering exceptional service, salespeople can foster loyalty and repeat business.
3. Market expansion: Salesmanship enables businesses to reach new markets and expand their customer base. Through strategic sales efforts, companies can identify opportunities for growth, enter new territories, and capture market share from competitors.
4. Innovation and feedback: Salespeople serve as a valuable source of feedback from customers, providing insights into market trends, competitor strategies, and product preferences. This feedback can inform product development, marketing strategies, and business decisions, driving innovation and continuous improvement.
5. Economic impact: Salesmanship contributes to economic activity by facilitating the exchange of goods and services between buyers and sellers. Successful sales transactions stimulate consumption, investment, and employment, thereby fueling economic growth and development.
3. (a) What do you mean by sales management and salesmanship? Discuss the importance of sales management. 3+3+8=14
Ans:- Sales management refers to the process of planning, organizing, leading, and controlling the activities of a sales team or department within an organization. It involves overseeing various aspects of the sales function, including setting sales goals, designing sales strategies, managing salespeople, and monitoring performance to ensure that sales targets are met or exceeded. Sales management encompasses both the strategic and operational aspects of managing a sales force to drive revenue growth and achieve business objectives.
On the other hand, salesmanship refers to the skills, techniques, and attributes employed by salespeople to effectively persuade potential customers to purchase products or services. It involves building rapport with customers, identifying their needs, addressing objections, and closing sales through effective communication and relationship-building. Salesmanship is essential for driving sales success and creating value for both the customer and the organization.
The importance of sales management can be discussed from various perspectives:
1. Revenue generation: Effective sales management is crucial for generating revenue and driving business growth. By setting clear sales targets, developing sales strategies, and providing guidance and support to sales teams, sales management ensures that the organization is able to meet its financial objectives and sustain profitability.
2. Market expansion: Sales management plays a key role in expanding the organization's market reach and penetration. Through strategic planning and market analysis, sales managers identify new opportunities for growth, enter new markets, and develop relationships with new customers, thereby expanding the organization's customer base and market share.
3. Customer satisfaction: Sales management is instrumental in ensuring customer satisfaction and retention. By equipping salespeople with the necessary training, tools, and resources to effectively meet customer needs and provide exceptional service, sales management helps to build positive relationships with customers and enhance their overall experience with the organization.
4. Optimized sales performance: Sales management is responsible for optimizing the performance of the sales team through effective leadership, motivation, and performance management. By setting performance targets, providing ongoing feedback and coaching, and recognizing and rewarding top performers, sales management encourages salespeople to achieve their full potential and consistently deliver results.
5. Strategic alignment: Sales management ensures alignment between sales objectives and overall business goals. By collaborating with other departments such as marketing, product development, and customer service, sales management ensures that sales strategies are aligned with the organization's broader objectives and priorities, fostering a coordinated and integrated approach to achieving success.
6. Resource allocation: Sales management is responsible for allocating resources such as budgets, personnel, and technology to support the sales function. By strategically allocating resources based on sales priorities and market opportunities, sales management ensures that sales teams have the necessary support and infrastructure to effectively execute their strategies and achieve their targets.
7. Market intelligence: Sales management gathers and analyzes market intelligence to identify emerging trends, competitive threats, and customer preferences. This information is crucial for developing sales strategies, positioning products or services effectively, and making informed decisions about resource allocation and market expansion.
8. Adaptability and agility: In today's dynamic and competitive business environment, sales management must be agile and adaptable to changing market conditions, customer needs, and industry trends. Sales managers must be able to quickly adjust sales strategies, tactics, and resource allocation to capitalize on new opportunities and mitigate risks.
9. Relationship management: Sales management oversees the cultivation and management of relationships with key customers, partners, and stakeholders. By fostering strong relationships built on trust, credibility, and mutual value creation, sales management enhances the organization's reputation, credibility, and long-term success in the marketplace.
10. Performance measurement and optimization: Sales management establishes key performance indicators (KPIs) and metrics to measure the effectiveness of sales efforts and track progress towards sales targets. By monitoring performance data, identifying areas for improvement, and implementing corrective actions as needed, sales management continuously optimizes sales performance and drives continuous improvement.
11. Innovation and creativity: Sales management encourages innovation and creativity within the sales team to develop new sales strategies, approaches, and solutions that differentiate the organization in the marketplace. By fostering a culture of innovation and empowering salespeople to think creatively, sales management drives growth, competitiveness, and long-term success.
12. Risk management: Sales management identifies and mitigates risks associated with the sales function, such as market volatility, competitive threats, and changing customer preferences. By proactively assessing risks, developing contingency plans, and implementing risk mitigation strategies, sales management protects the organization's revenue streams, profitability, and market position.
In summary, sales management plays a critical role in driving revenue growth, expanding market reach, enhancing customer satisfaction, optimizing sales performance, and aligning sales efforts with organizational goals. By effectively managing the sales function, organizations can gain a competitive advantage, maximize profitability, and achieve sustainable success in the marketplace.
Or
(b) What do you mean by buying motive? Discuss the need theory of Maslow. 4+10=14
Ans:- A buying motive refers to the underlying psychological or emotional reason that drives a person to make a purchase. It represents the specific need, desire, or motivation that prompts an individual to seek out a particular product or service. Understanding buying motives is essential for marketers and salespeople because it allows them to tailor their marketing messages, product offerings, and sales pitches to appeal to the specific needs and desires of their target customers.
The need theory of Maslow, also known as Maslow's hierarchy of needs, is a psychological theory proposed by Abraham Maslow in 1943. According to Maslow, human needs can be organized into a hierarchical structure, with lower-order needs forming the base of the hierarchy and higher-order needs located at the top. Maslow's hierarchy consists of five levels of needs, arranged in ascending order of importance:
1. Physiological needs: These are the most basic biological needs required for survival, such as food, water, shelter, and sleep. Physiological needs must be satisfied before an individual can move on to higher-order needs.
2. Safety needs: Once physiological needs are met, individuals seek safety and security from physical and emotional harm. This includes the need for a stable environment, financial security, health, and protection from danger.
3. Love and belongingness needs: After safety needs are fulfilled, people crave social relationships, love, affection, and a sense of belonging. This includes the need for friendship, intimacy, family, and community involvement.
4. Esteem needs: Once social needs are satisfied, individuals strive for self-esteem and recognition from others. Esteem needs encompass both the need for self-respect and the need for respect and admiration from others. This includes feelings of accomplishment, confidence, competence, and recognition for one's achievements.
5. Self-actualization needs: At the top of the hierarchy are self-actualization needs, which represent the desire for personal growth, fulfillment, and self-fulfillment. Self-actualization involves realizing one's full potential, pursuing meaningful goals, expressing creativity, and experiencing personal growth and fulfillment.
Maslow proposed that individuals are motivated to satisfy these needs in a sequential manner, starting with the most basic physiological needs and progressing towards higher-level needs as lower-level needs are met. According to Maslow, once a need is satisfied, it no longer serves as a motivator, and individuals are motivated to pursue the next higher-level need in the hierarchy.
In the context of buying motives, Maslow's hierarchy of needs suggests that consumers' purchasing decisions are influenced by the needs and motivations that are most salient to them at a given time. For example:
- A person experiencing hunger (physiological need) may be motivated to buy food.
- Someone feeling unsafe or insecure (safety need) may be motivated to purchase home security systems or insurance.
- Individuals seeking love and connection (belongingness need) may be motivated to buy gifts for their loved ones or join social clubs.
- Consumers striving for status and recognition (esteem need) may be motivated to purchase luxury goods or prestigious brands.
- Those pursuing personal growth and fulfillment (self-actualization need) may be motivated to invest in education, travel, or experiences that enrich their lives.
By understanding Maslow's hierarchy of needs and the buying motives associated with each level, marketers and salespeople can tailor their marketing strategies, product offerings, and sales messages to appeal to consumers' specific needs and motivations, thereby increasing the effectiveness of their marketing efforts and driving consumer engagement and loyalty.
4. (a) What is selling process? Write in detail about different steps in selling process. 4+10=14
Ans:- The selling process is a systematic approach that salespeople use to engage with potential customers, build relationships, identify needs, address concerns, and ultimately persuade them to make a purchase. It involves a series of steps designed to guide the salesperson and the customer through the various stages of the sales interaction, from initial contact to closing the sale and beyond. Here's a detailed overview of the different steps in the selling process:
1. Prospecting: The first step in the selling process is prospecting, which involves identifying and qualifying potential customers or leads who are likely to be interested in the product or service being offered. Prospecting methods may include cold calling, networking, referrals, online research, or analyzing demographic data to find prospects.
2. Preparation and research: Before making contact with the prospect, the salesperson conducts research to gather relevant information about the prospect and their organization. This includes understanding their industry, challenges, competitors, and any previous interactions they may have had with the company. Preparation also involves familiarizing oneself with the product or service being offered and anticipating potential objections or questions from the prospect.
3. Approach: The approach stage involves initiating contact with the prospect in a manner that captures their attention and establishes rapport. This could be through phone calls, emails, social media messages, or in-person meetings. The goal is to create a positive first impression, build trust, and start the conversation on a positive note.
4. Needs identification: Once rapport is established, the salesperson engages the prospect in a conversation to understand their needs, challenges, and goals. This involves asking probing questions, actively listening to the prospect's responses, and uncovering opportunities where the product or service being offered can provide value and solve the prospect's problems.
5. Presentation: Based on the information gathered during the needs identification stage, the salesperson presents the product or service in a way that highlights its features, benefits, and value proposition. The presentation may include demonstrations, case studies, testimonials, or visual aids to help illustrate the product's capabilities and benefits.
6. Handling objections: Throughout the sales process, the prospect may raise objections or concerns about the product or service. The salesperson must address these objections effectively by providing relevant information, addressing any misconceptions, and offering solutions or alternatives to alleviate the prospect's concerns. Handling objections is a critical step in building trust and overcoming barriers to the sale.
7. Closing the sale: Once the prospect is convinced of the product or service's value and benefits, the salesperson seeks to obtain a commitment from the prospect to make a purchase. This involves using closing techniques such as trial closes, assumptive closes, or direct closes to prompt the prospect to make a decision. The goal is to finalize the transaction and secure the prospect's commitment to move forward with the purchase.
8. Follow-up and relationship building: After the sale is closed, the salesperson follows up with the customer to ensure satisfaction with the purchase, address any post-sale concerns or questions, and reinforce the relationship. Follow-up activities may include sending thank-you notes, providing ongoing support or assistance, and seeking feedback to improve the customer experience.
9. Post-sale service and support: Beyond the initial sale, the salesperson continues to provide ongoing service and support to the customer to maintain the relationship and drive customer loyalty. This may involve offering additional products or services, addressing any issues or concerns that arise, and proactively seeking opportunities to add value and exceed the customer's expectations.
By following these steps in the selling process, salespeople can effectively guide prospects through the sales journey, build trust and rapport, identify needs, address objections, close the sale, and cultivate long-term relationships with customers. This systematic approach helps salespeople maximize their effectiveness, drive sales success, and create value for both the customer and the organization.
Or
(b) What do you mean by sales report? Discuss about different sales reports of a salesman. 4+10=14
Ans:- A sales report is a document that provides an overview of the sales activities, performance, and results of a salesperson, team, or organisation over a specific period of time. Sales reports are essential tools for monitoring sales performance, identifying trends, analyzing results, and making informed decisions to drive sales growth and achieve business objectives.
Different types of sales reports provide insights into various aspects of sales operations and performance. Here are some common sales reports that a salesperson may generate and utilize:
1. Sales activity report: This report tracks the activities and efforts of a salesperson, such as calls made, emails sent, meetings held, and presentations delivered. It provides a snapshot of the salesperson's productivity and engagement with prospects and customers.
2. Pipeline report: A pipeline report provides an overview of the sales pipeline, including the number and value of deals at each stage of the sales process. It helps salespeople and managers track the progress of opportunities, identify potential bottlenecks, and forecast future sales revenue.
3. Sales performance report: This report summarizes the sales performance of a salesperson or team, typically including metrics such as total sales revenue, number of units sold, average deal size, and sales conversion rates. It helps assess the effectiveness of sales efforts and track progress towards sales targets.
4. Lead conversion report: A lead conversion report tracks the conversion of leads into customers over time. It provides insights into the effectiveness of lead generation efforts, lead nurturing strategies, and sales conversion rates at each stage of the sales funnel.
5. Customer acquisition report: This report focuses on the acquisition of new customers and provides insights into the sources of new business, customer demographics, acquisition costs, and the effectiveness of marketing and sales initiatives in attracting new customers.
6. Revenue and profit analysis: Revenue and profit analysis reports provide a detailed breakdown of sales revenue, costs, margins, and profitability by product, customer segment, sales territory, or time period. They help identify top-performing products or services, high-value customers, and opportunities to optimize pricing and profitability.
7. Sales forecast report: A sales forecast report predicts future sales performance based on historical data, market trends, and sales projections. It helps sales managers and executives make informed decisions about resource allocation, budgeting, and strategic planning.
8. Activity efficiency report: This report evaluates the efficiency of sales activities by analyzing key performance indicators such as sales per hour, conversion rates, and time spent on different sales tasks. It helps identify areas for improvement and optimize sales processes for greater productivity and effectiveness.
9. Territory performance report: For sales teams with territory-based assignments, territory performance reports provide insights into sales performance, opportunities, and challenges within each territory. They help sales managers allocate resources, set territory goals, and provide targeted support to maximize sales results.
These are just a few examples of the various types of sales reports that salespeople may utilize to track performance, analyze results, and make data-driven decisions to drive sales success. The specific reports generated will depend on the needs of the salesperson, team, or organization and the key performance indicators they use to measure success.
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