Examples of up-sell in the following topics:
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- Note that as the price of apples goes down, buyers' demand goes up.
- Businesses are more willing to sell a product when the price rises and less willing to sell it when prices fall.
- This fact makes sense: Businesses are set up to make profits, and there are larger profits to be made when prices are high.
- The supply curve goes in the opposite direction from the demand curve: As prices rise, the quantity of apples that farmers are willing to sell also goes up.
- This outcome makes intuitive sense: As demand increases, prices will go up.
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- Approaching marketing with a selling orientation was popular for companies in the 1950s and 1960s.
- Up to this point, a growing population and lack of significant competition combined to create an environment in which production and product orientations could lead to success.
- The answer was to concentrate on selling.
- Effective selling requires a systems approach, at minimum involving roles that sell, enable selling, and develop sales capabilities.
- Outline the methodology and importance of selling orientation as it relates to product inventory
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- Boundless can work with your institution's bookstore to sell our courseware.
- Students on financial aid packages typically need to purchase their books through the school bookstore in order to use their funds, which means we need to be able to sell our products through university bookstores.
- When we work with a bookstore, we will give them a percentage of that $29.99, rather than marking up our prices.
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- The most significant strength of personal selling is its flexibility.
- Personal selling also minimizes waste effort.
- High cost is the primary disadvantage of personal selling.
- Both technologies can deliver sales messages, respond to questions, take payment, and follow up.
- Another weakness of personal selling is message inconsistency.
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- Producer surplus is the difference between the amount producers get for selling a good and the amount they want to accept for that good.
- However, at $P_1$, the producers are willing to sell one unit of a commodity for a price that is lower than $P'$.
- Similarly, at $P_2$, the producers are willing to sell two units of a commodity at a price that is still lower than $P'$.
- This process is repeated for every price level up to the equilibrium price.
- Consumer surplus is the shaded area directly under the demand curve, up to the equilibrium point.
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- Personal selling is when salespersons use a process to engage customers and take a sales order that may not otherwise have been made.
- The personal selling process is a seven step approach: prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, and follow-up.
- Finally, the salesperson must remember to follow up after the sale is made.
- Sales management would break down the selling process and then increase the effectiveness of the discrete processes as well as the interaction between processes.
- Marketing improves the selling environment and plays a very important role in sales.
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- Selling is not merely making presentations or demonstrations and closing the sale.
- The eight steps are: prospecting, preapproach, approach, need assessment, presentation, meeting objections, gaining commitment, and following up.[ 4]
- Following up will ensure customer satisfaction and help establish a relationship with the customer.
- The characteristics of modern selling are:
- Database And Knowledge Management: Sales people must be computer literate and up-to-date with the technology advances.
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- Marketing impacts personal selling and improves the selling environment by increasing exposure to potential customers.
- Selling is part of the promotional mix.
- Those selling luxury goods cater to esteem needs.
- The last and most crucial step in the process is follow up to ensure customer satisfaction and help establish a relationship.
- Marketing impacts personal selling and improves the selling environment by increasing exposure to potential customers.
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- Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location.
- Direct selling allows salespersons to present, demonstrate, and sell products and services to consumers in an environment that is comfortable to the client.
- Solution selling is when the salesperson focuses on the customer's pain and addresses the issue with his offerings.
- Attire should be similar to those who you are pitching to, but at least two steps up in terms of clean presentation and apparel.
- Describe the characteristics and requirements for a sales approach as part of personal selling and sales promotion
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- Competitive-based pricing occurs when a company sets a price for its good based on what competitors are selling a similar product for.
- Walmart is selling a face wash for $3.99.
- NuMart, who is looking to sell this product in the same area, also prices their product at $3.99 in order to capture market share.
- Smith and other classical economists before Cournot were referring to price and non-price rivalry among producers to sell their goods on best terms by the bidding of buyers, and not necessarily to a large number of sellers or to a market in final equilibrium.
- For instance, if the competitors are pricing their products at a lower price, then it's up to them to either price their goods at a higher or lower price, all depending on what the company wants to achieve.