Personal selling is said to be a cost it has a narrow audience and an organization can survive without it. (Discuss) According to Pride‚W and Ferrell O‚ Personal selling can been defined as a process of informing customers and persuading them to purchase product through personal communication in an exchange situation. Personal selling is the process of person to person communication between a sales person and a prospective customer in which the sales person learns about the prospect needs and
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Personal Selling‚ relationship building and sales management Personal selling‚ unlike advertising or sale promotion‚ involves direct relationships between the seller and the prospect or customer. In a forma sense‚ personal selling can be defined as a two-way flow of communication between a potential buyer and a salesperson that is designed to accomplish at least three tasks: (1) identify the potential buyer’s needs; (2) match those needs to one or more of the firm’s products or services; (3) on
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An Assignment On “ PERSONAL SELLING ” Submitted by: Jaydip Shah (101) Dated on: March 22‚ 2010 GANPAT UNIVERSITY V. M. PATEL INSTITUTE OF MANAGEMENT INDEX CONTENT Introduction………………………………………………………………………………….3 What is Personal Selling…………………………………………………………………….4 Advantages of Personal Selling……………………………………………………………..5 Disadvantages of Personal Selling………………………………………………………….6 Types of Selling Roles………………………………………………………………………7 Trends in Selling……………………………………………………………………………8
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Situation Analysis 4 a. Company 4 i. History 4 ii. Best Buy Today 7 iii. Best Buy’s New Leadership 8 iv. Organizational Structure 10 b. Best Buy’s Industry 18 c. Best Buy’s SWOT Analysis 19 i. Porter’s Five Forces 20 d. Capabilities and Processes 22 3. Customers 23 4. Products and Services 27 5. Industry Context 30 6. Best Buy Competitors 32 a. S.W.O.T. Analysis of Competitors 32 i. RadioShack
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Personal selling occurs where an individual salesperson sells a product‚ service or solution to a client. Salespeople match the benefits of their offering to the specific needs of a client. Today‚ personal selling involves the development of longstanding client relationships. In comparison to other marketing communications tools such as advertising‚ personal selling tends to: • Use fewer resources‚ pricing is often negotiated. • Products tend to be fairly complex (e.g. financial services or new
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One of the fortune 500 companies in our society is Best Buy. Best Buy is one of the largest consumer electronics retailer company in the United States and Canada. There are many products Best Buy distributes‚ such as; computers‚ computer equipment‚ video and audio products‚ refrigerators‚ coffeemakers‚ compact discs‚ video games‚ DVD and VHS movies and players‚ CD’s‚ computer software‚ cameras‚ cell phones‚ and satellite systems and so on. In addition‚ their customer service is very helpful and has
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Identify and interpret trends in personal selling Level 5 Credits 5 Purpose People credited with this unit standard are able to: evaluate technologies; evaluate organisational factors; interpret legal‚ regulatory‚ and social trends; and interpret international and global trends; that impact on personal selling. Subfield Retail‚ Distribution‚ and Sales Domain Wholesale Status Registered Status date 20 June 2008 Date version published 20 June 2008 Planned review date 31 December 2013
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BEST BUY Making Life Fun & Easy! Tiago Alves Andrew Bornstein Mae Brana Grace Tan Meredith Walters Table of Contents Business Summary 4 Vision Statement & Corporate Values 4 Rankings 4 Market Share 5 Stock Chart – 5 Year Performance 5 Financial Highlights 6 History 7 Key Executives 8 Strategy 9 Customer Centricity 9 Value-added Services Business 11 Supply Chain and IT Systems 11 New Store Openings 11 Mergers & Acquisitions 12 Employees 13 Key Competitors
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Schwab Equity Ratings® Report Report generated on 05/28/2013‚ 07:31 PM Best Buy Co Inc SCHWAB EQUITY RATING BBY NYSE A Strongly Outperform Data as of 05/24/2013 BUSINESS SUMMARY Source: S&P Capital IQ Last weeks rating: A Strongly Outperform Percentile Ranking: 1 Data as of 05/17/2013 A Strongly Outperform Percentile Ranking: 3 Data as of 05/24/2013 B 6-30 C 31-70 D 71-95 BUY A 1-5 Best Buy Co.‚ Inc. operates as an e-commerce and physical retailer of consumer electronics
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Personal Selling & The Marketing Concept Personal Selling - A Definition and a Philosophy Personal Selling is a process of developing relationships; discovering needs; matching the appropriate products with these needs; and communicating benefits through informing‚ reminding‚ or persuading. The development of a personal selling philosophy for the information age involves three prescriptions: 1) Adopt marketing concept. 2) Value personal selling. 3) Assume the role of a problem solver or partner
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