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Sales are activities related to selling or the number of goods or services sold in a given time period.
The seller or the provider of the
In common law countries, sales are governed generally by the
A person or organization expressing an interest in acquiring the offered item of value is referred to as a potential buyer, prospective customer or prospect. Buying and selling are understood to be two sides of the same "coin" or transaction. Both seller and buyer engage in a process of negotiation to consummate the exchange of values. The exchange, or selling, process has implied rules and identifiable stages. It is implied that the selling process will proceed fairly and ethically so that the parties end up nearly equally rewarded. The stages of selling, and buying, involve getting acquainted, assessing each party's need for the other's item of value, and determining if the values to be exchanged are equivalent or nearly so, or, in buyer's terms, "worth the price". Sometimes, sellers have to use their own experiences when selling products with appropriate discounts.
From a management viewpoint it is thought of as a part of
Selling is the profession-wide term, much like
Two common terms used to describe a salesperson are "Farmer" and "Hunter". The reality is that most professional salespeople have a little of both. A hunter is often associated with aggressive personalities who use aggressive sales technique. In terms of sales methodology, a hunter refers to a person whose focus is on bringing in and closing deals. This process is called "sales capturing". An example is a commodity sale such as a long distance salesperson, shoe salesperson and to a degree a car salesperson. Their job is to find and convert buyers. A sales farmer is someone who creates sales demand through activities that directly influence and alter the buying process.
Many believe that the focus of selling is on the human agents involved in the exchange between buyer and seller. Effective selling also requires a
Within these three tenets, the following definition of professional selling is offered by the
|“||The holistic business system required to effectively develop, manage, enable, and execute a mutually beneficial, interpersonal exchange of goods or services for equitable value.||”|
The field of
Many large corporations structure their marketing departments so they are directly integrated with all lines of business. They create multiple teams with a singular focus and the managers of these teams must coordinate efforts in order to drive profits and business success. For example, an "inbound" focused campaign seeks to drive more customers "through the door", giving the sales department a better chance of selling their product to the consumer. A good marketing program would address any potential downsides as well.
The sales department would aim to improve the interaction between the customer and the sales facility or mechanism (example, website) or salesperson. As Sales is the forefront of any organization, this would always need to take place before any other business process may begin. Sales management would break down the selling process and then increase the effectiveness of the discrete processes as well as the interaction between processes. For example, in many out-bound sales environments, the typical process includes outbound calling, the sales pitch, handling objections, opportunity identification, and the close. Each step of the process has sales-related issues, skills, and training needs, as well as marketing solutions to improve each discrete step, as well as the whole process. In many cases becoming a salesperson is a default career as not many people aspire to be a salesman but rather fall into the job due to circumstances. It can be highly rewarding as you receive remuneration in the form of a salary and also commission.
One further common complication of marketing involves the inability to measure results for a lot of marketing initiatives. In essence, many marketing and advertising executives often lose sight of the objective of sales/revenue/profit, as they focus on establishing a creative/innovative program, without concern for the
Many companies find it challenging to get marketing and sales on the same page. The two departments, although different in nature, handle very similar concepts and have to work together for sales to be successful. Building a good relationship between the two that encourages communication can be the key to success – even in a down economy.
The idea that marketing can potentially eliminate the need for salespeople depends entirely on context. For example, this may be possible in some
Another area of discussion involves the need for alignment and integration of corporate sales and marketing functions. According to a report from the Chief Marketing Officer (CMO) Council, only 40 percent of companies have formal programs, systems or processes in place to align and integrate the two critical functions.
Traditionally, these two functions, as referenced above, have operated separately, left in siloed areas of tactical responsibility. Glen Petersen's book The