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2 pages/≈550 words
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MLA
Subject:
Business & Marketing
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Essay
Language:
English (U.S.)
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Topic:
Various Steps in a Typical Sales Cycle
Essay Instructions:
1. Please write a 1.5-2 page outline/summary of the various steps in a typical sales cycle……starting with prospecting (Chapter 5) .
2. You should read the Chapter 5 to Chapter 8. Maybe you don't need to read the whole chapter but please read the titles in the chapters to guess the various steps in a typical sales cycle.
3. Please add two sources in it from the text.
4. The textbook I will upload for you, Thank you!
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Various Steps in a Typical Sales Cycle
A sales cycle is a chain of activities or phases that take place when selling a product or service. The commonly used cycle usually consists of about 5-7 processes. However, it is no guaranteed that ever sales person will follow these steps. Some sales interaction processes are quite direct and simple. Regardless on which path an organization or company takes the basic sales cycles are quite the same. They include prospecting, preparation, approach, presentation, handling objections, closing, and follow-up.
Prospecting
This is step involves seeking for new potential customers and determine if they need the product. It also entails knowing whether those potential customers can afford your commodities. This process further entails having an elaborate knowledge on the target market and a firm understanding of the commodity one intends to sell (Ingram, LaForge, Avila, Schwepker, and Williams 114). The salesperson often asks themselves the solution their products will bring to the market and what is unique about their commodity.
Preparation
The second step is the preparation to meet potential customers. Here one collects all relevant market information about their product or service. Based on the data collected and research information of the market, adequate sales presentations that suit the customers’ needs are prepared.
Approach
In this process the salesman makes initial contact with the client either face to face or via the phone. The nature of contact is based on the business type. Commonly used approaches in this stage are:
Premium approach: - potential customers are presented with gifts at the onset of the interactions.
Question approach: - clients are issued with questions to ignite their interest on the commodity.
Product approach: - potential customers are given free sample for trials so as to evaluate the commodity.
Pres...
Tutor:
Course:
Date:
Various Steps in a Typical Sales Cycle
A sales cycle is a chain of activities or phases that take place when selling a product or service. The commonly used cycle usually consists of about 5-7 processes. However, it is no guaranteed that ever sales person will follow these steps. Some sales interaction processes are quite direct and simple. Regardless on which path an organization or company takes the basic sales cycles are quite the same. They include prospecting, preparation, approach, presentation, handling objections, closing, and follow-up.
Prospecting
This is step involves seeking for new potential customers and determine if they need the product. It also entails knowing whether those potential customers can afford your commodities. This process further entails having an elaborate knowledge on the target market and a firm understanding of the commodity one intends to sell (Ingram, LaForge, Avila, Schwepker, and Williams 114). The salesperson often asks themselves the solution their products will bring to the market and what is unique about their commodity.
Preparation
The second step is the preparation to meet potential customers. Here one collects all relevant market information about their product or service. Based on the data collected and research information of the market, adequate sales presentations that suit the customers’ needs are prepared.
Approach
In this process the salesman makes initial contact with the client either face to face or via the phone. The nature of contact is based on the business type. Commonly used approaches in this stage are:
Premium approach: - potential customers are presented with gifts at the onset of the interactions.
Question approach: - clients are issued with questions to ignite their interest on the commodity.
Product approach: - potential customers are given free sample for trials so as to evaluate the commodity.
Pres...
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