Tonight was our final and I got a . . .
96%
Whooo Hooo!!!!!
Thursday, May 5, 2011
Wednesday, May 4, 2011
Class 14 - April 28, 2011
This week we discussed Chapter 18 - Setting the Right Price.
Setting the right price on a product is a four-step process:
I will be able to use this information in coming up with the right prices for my services for my clientele.
Setting the right price on a product is a four-step process:
Another thing I thought was especially interesting was the odd-even pricing (or psychological pricing). This pricing strategy means that odd numbered prices are used to connote a bargain and even numbered prices are used to imply quality For example, buying something for $99.95 makes you feel as if it's a good deal, whereas buying something, such as a bottle of perfume, for $100 implies prestige rather than bargain.
I will be able to use this information in coming up with the right prices for my services for my clientele.
Sunday, May 1, 2011
Class 13 - April 21, 2011
This week we discussed Chapter 16 - Sales Promotion and Personal Selling. The parts I took the most from were the parts about personal and relationship selling.
Personal selling is direct communication between a sales representative and one or more prospective buyers in an attempt to influence each other in a purchase situation. Personal selling becomes more important as the number of potential customers decreases, and as the complexity of the product increases, and as the value of the product grows. Highly complex items need a sales person to determine the prospective customer's needs.
Relationship selling, or consultative selling is a multi-stage process that emphasises personalization and empathy as key ingredients in identifying prospects and developing them as long-term, satisfied customers. The objective is to build long-term branded relationships with consumers/buyers, so the focus is on building mutual trust between the buyer and seller. Relationship or consultant salespeople become consultants, partners, and problem solvers for their customers. They try to build long-term relationships rather than focusing on the one-time sale.
It costs businesses SIX times more to gain a new customer than to retain a current one.
Using this information, I will be able to gain long-term clients for my business.
Personal selling is direct communication between a sales representative and one or more prospective buyers in an attempt to influence each other in a purchase situation. Personal selling becomes more important as the number of potential customers decreases, and as the complexity of the product increases, and as the value of the product grows. Highly complex items need a sales person to determine the prospective customer's needs.
Relationship selling, or consultative selling is a multi-stage process that emphasises personalization and empathy as key ingredients in identifying prospects and developing them as long-term, satisfied customers. The objective is to build long-term branded relationships with consumers/buyers, so the focus is on building mutual trust between the buyer and seller. Relationship or consultant salespeople become consultants, partners, and problem solvers for their customers. They try to build long-term relationships rather than focusing on the one-time sale.
It costs businesses SIX times more to gain a new customer than to retain a current one.
Using this information, I will be able to gain long-term clients for my business.
Subscribe to:
Posts (Atom)