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Professional Salesmanship Module 5

This document discusses the importance for salespeople to thoroughly understand both their own company and competitors. It provides details on the specific information salespeople should know about their company, such as its industry, history, production methods, policies, and financials. It also lists sources where this information can be found, including company seminars, publications, and visits. Salespeople must understand their company's products and be able to compare them factually to competitors' in order to meet customers' demands, develop confidence, and represent the company effectively.

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Ronnie Jay
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1K views3 pages

Professional Salesmanship Module 5

This document discusses the importance for salespeople to thoroughly understand both their own company and competitors. It provides details on the specific information salespeople should know about their company, such as its industry, history, production methods, policies, and financials. It also lists sources where this information can be found, including company seminars, publications, and visits. Salespeople must understand their company's products and be able to compare them factually to competitors' in order to meet customers' demands, develop confidence, and represent the company effectively.

Uploaded by

Ronnie Jay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Module 005 - Knowing the Company and the Company: Its Products and Competition

Products and Competition

To become a star salesman, one should not devote his time knowing his product alone. It is also
important to learn vital facts and information about the company.

Importance of Company Knowledge

A thorough knowledge of the company operations and programs enables the salesman to establish
loyalty to his firm. With the necessary knowledge of what the prospects ca expects from the company,
the salesman is able to provide important facts which will harness the purchase decisions of the
prospect. It is evident from the salesman that his loyalty to the company is established as he defends it
and its product against the misinformation of the prospect

Specific Information about the Company that a Salesman Must Know

1. The industry itself where the company belong;

2. The history and development of the company;

3. Physical structure and modern features of the company;

4. Production methods employed by the company;

5. Service and distribution policies;

6. Policies on prices, discounts, credits and deliveries; and

7. Financial and personnel aspects of the company.

Sources of Information about the Company

1. Seminars and orientations sponsored by the company

2. Product clinics and demonstrations

3. Company bulletins and publication

4. Plant visits

5. Sales meetings, conference and conventions

6. Leads from sales managers and supervisors

7. Company advertising

8. Product labels

9. Product brochures and price list


10. Feedbacks from prospects and customers

What are strikingly of value to the salesman are the following:

1. Seminars and orientations sponsored by the company

2. Company bulletins and publication

3. Plant visits

4. Sales meetings, conference and conventions

5. Leads from sales managers and supervisors

6. Feedbacks from prospects and customers

Costumers demands facts

With the rapid advancement of technology there are many products flooding the market place the most
of the costumers have no knowledge

Facts are needed to met competition

If the salesman is unable to explains the merit of construction of his products or if he is unable to quote
company policy accurately

Buyer has confidence in a well informed salesman

Most of the present day consumers ask many questions about so many things before making their
purchase from company product to competition

Knowledge Develops Personal Confidence

There is an old age says “Knowledge is Power” this truism still holds true today

Salesman Obligation to his company and its clientele

1. To make money

2. To work conscientiously

3. To be loyal

Salesman’s Obligation to his clientele

To treat them ethically

To help them

To adjust costumer complaints

What to know about competition


Product comparison – the first essential thing a salesman should know is how the product stands up
against competing products

1. Consistency – prices of commodities or services should be consistent with the rest of the operations
of the establishments

2. Long-run point of view – what business man should maintain is the long run point of view in pricing

3. Price level and maximum profits – higher prices do not always bring out maximum profit and
conversely lower prices do not ensure loss

4. Pricing as an mart – setting price should also be artistic in its own right

Basic pricing decisions

Retailers make a number of fundamental decision about their general pricing policies and practices

Competitors price

Normally businessman set their price at the same level of its major rival

One price policy

In the Philippines one price policy or fixed price which is charging the same price for everyone who buys
the same item

Variable price only

The price paid by a costumer at a given time for a certain item is determined by bargaining

Leader pricing

Some retailers price certain products just above their delivered price

Unit pricing

Unit pricing is relatively new concept in retailing

Price lining

Costumers continuously crave for a wide assortment of goods when buying

Selling activities – the salesman should know his competitors and their style of presentations. To
understand fully competitive selling activities is to know first who the competing salesmen or
representatives are.

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