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Sales is activity related to selling or the amount of goods or services sold in a given time period.
The seller or the provider of the "goods or services completes a sale in response to an "acquisition, "appropriation, "requisition or a direct interaction with the buyer at the "point of sale. There is a passing of title (property or ownership) of the "item, and the settlement of a "price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The seller, not the "purchaser generally executes the sale and it may be completed prior to the obligation of "payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including "salesclerk, shop assistant, and retail clerk.
In common law countries, sales are governed generally by the "common law and "commercial codes. In the "United States, the laws governing sales of goods are somewhat uniform to the extent that most jurisdictions have "adopted Article 2 of the "Uniform Commercial Code, albeit with some non-uniform variations.
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 "marketing, although the skills required are different. Sales often forms a separate grouping in a corporate structure, employing separate specialist operatives known as salespersons (singular: salesperson). Selling is considered by many to be a sort of "persuading "art". Contrary to popular belief, the methodological approach of selling refers to a systematic process of repetitive and measurable milestones, by which a salesman relates his or her offering of a product or service in return enabling the buyer to achieve their goal in an economic way. While the "sales process refers to a systematic process of repetitive and measurable milestones, the definition of the selling is somewhat ambiguous due to the close nature of "advertising, "promotion, "public relations, and "direct marketing.
Selling is the profession-wide term, much like "marketing defines a profession. Recently, attempts have been made to clearly understand who is in the sales profession, and who is not. There are many articles looking at "marketing, "advertising, "promotions, and even "public relations as ways to create a unique "transaction.
Two common terms used to describe a salesperson are "Farmer" and "Hunter". The reality is that most professional sales people 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 sales person, shoe sales person and to a degree a car sales person. Their job is to find and convert buyers. A sales farmer is someone who creates sales demand by 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 "systems approach, at minimum involving roles that sell, enable selling, and develop sales capabilities. Selling also involves "salespeople who possess a specific set of "sales skills and the knowledge required to facilitate the exchange of value between buyers and sellers that is unique from marketing, advertising, etc.
Within these three tenets, the following definition of professional selling is offered by the "American Society for Training and Development (ASTD):
|“||The holistic business system required to effectively develop, manage, enable, and execute a mutually beneficial, interpersonal exchange of goods and/or services for equitable value.||”|
"Team selling is one way to influence sales. Team selling is "a group of people representing the sales department and other functional areas in the firm, such as finance, production, and research and development". (Spiro) Team selling came about in the 1990s through "total quality management (TQM). TQM occurs when companies work to improve their customer satisfaction by constantly improving all of their operations.
"Marketing and sales differ greatly, but generally have the same goal. Selling is the final stage in marketing, which also includes pricing, promotion, place and product (the 4 P's). A marketing department in an organization has the goals of increasing the desirability and value to the customer and increasing the number and engagement of interactions between potential customers and the organization. Achieving this goal may involve the sales team using promotional techniques such as "advertising, "sales promotion, "publicity, and "public relations, creating new sales channels, or creating new products ("new product development), among other things. It can also include bringing the potential customer to visit the organization's website(s) for more information, or to contact the organization for more information, or to interact with the organization via social media such as "Twitter, "Facebook and "blogs. Social values also play a major role in consumer decision processes.
The field of "sales process engineering views "sales" as the output of a larger system, not just as the output of one department. The larger system includes many functional areas within an organization. From this perspective, "sales" and "marketing" (among others, such as ""customer service") label for a number of processes whose inputs and outputs supply one another to varying degrees. In this context, improving an "output" (such as sales) involves studying and improving the broader sales process, as in any system, since the component functional areas interact and are interdependent.
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, web site) and/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 out-bound 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 great deal 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 "top or "bottom lines – a fundamental pitfall of marketing for marketing's sake.
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 sales people depends entirely on context. For example, this may be possible in some "B2C situations; however, for many "B2B transactions (for example, those involving industrial organizations) this is mostly impossible.["citation needed] Another dimension is the value of the goods being sold. "Fast-moving consumer-goods (FMCG) require no sales people at the "point of sale to get them to jump off the supermarket shelf and into the customer's trolley. However, the purchase of large mining equipment worth millions of dollars will require a sales person to manage the sales process – particularly in the face of competitors. Small and medium businesses selling such large ticket items to a geographically-disperse client base use "manufacturers' representatives to provide these highly personal service while avoiding the large expense of a captive sales force.
Another area of discussion involves the need for alignment and integration between 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 "Profit Maximization Paradox sees the changes in the competitive landscape between the 1950s and the time of writing as so dramatic that the complexity of choice, price and opportunities for the customer forced this seemingly simple and integrated relationship between sales and marketing to change forever. Petersen goes on to highlight that salespeople spend approximately 40 percent of their time preparing customer-facing deliverables while leveraging less than 50 percent of the materials created by marketing, adding to perceptions that marketing is out of touch with the customer and that sales is resistant to "messaging and "strategy.
||This section is in a list format that may be better presented using "prose. (March 2017)|
A sale can take place through:
Agents in the sales process can represent either of two parties in the sales process; for example:
Since the advent of the telephone, a distinction has been made between "inside sales" and "outside sales" although it is generally agreed that those terms have no hard-and-fast definition. In the United States, the "Fair Labor Standards Act defines outside sales representatives as "employees [who] sell their employer's products, services, or facilities to customers away from their employer's place(s) of business, in general, either at the customer's place of business or by selling door-to-door at the customer's home" while defining those who work "from the employer's location" as inside sales. Inside sales generally involves attempting to "close business primarily over the phone via "telemarketing, while outside sales (or "field" sales) will usually involve initial phone work to book sales calls at the potential buyer's location to attempt to close the deal in person. Some companies have an inside sales department that works with outside representatives and book their appointments for them. Inside sales sometimes refers to "upselling to existing customers.
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