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Slide 2 4.01 Explain the importance and types of selling. Slide 3 Selling Selling is the exchange of goods and services from producers to consumers for a price. Businesses and sponsors might purchase incentives, media time, naming rights, pre-/post-game entertainment, signage, tickets (group or season), and products designed for the corporation's target market. Slide 4 Selling Sponsors... Why sponsor? Sales of sponsored products should increase as a result of advertisement at an event. Sponsors pay a rights fee for media time to a sports or entertainment organization for the opportunity to provide broadcasts. Slide 5 Data-based marketing Data-based marketing involves the collection or information about past, current, and potential consumers. In sports marketing, a database is needed to generate leads or sources of new customers. Slide 6 Data-based marketing continued... Telemarketing- communicating with customers via the telephone. Ex: Sales persons from Nike call customers who recently purchased the new Jordan shoes to offer them a 2 nd pair at 25 discount Slide 7 B2C- Personal Selling B2C or Personal Selling two-way communication between a representative of the company and the customer. Ex: A sales associate at Lids selling a panthers cap to a customer to wear at the next game. Slide 8 Business to Business Selling (B2B) B2B Selling two-way communication between a company and another company. Inside sales-wholesalers showroom Outside sales- customers place of business Ex: Nike sells to Champ retail store Slide 9 Direct Mail Direct mail personal and received in the mailbox. Used to initiate the sales process. Ex: Carolina Panthers mail information introducing their new Fan Rewards program. Slide 10 Internet Selling Internet Selling (www) executed using the Internet. Ex: Netflix, i-tunes, or a customer purchasing fishing supplies from www.dicks.com Slide 11 Customer vs. Consumer Customer - the person who buys the product or service Consumer - the person who uses the product or service Ex: Mary selected season tickets to the Carolina Hurricanes for her husbands 40 th birthday. Mary purchased 2 tickets so her husband could take a friend. Mary customer Husband and his friend consumers Slide 12 Need vs. Want Need - anything necessary or required to live. EX: food to survive. Want - an unfulfilled desire. EX: Tickets to a Carolina Panthers football game. It is crucial that sports and entertainment businesses help customers recognize the value and need of the products. Slide 13 Selling and Full-Menu Marketing Selling helps customers make informed buying decisions, which results in customer satisfaction and repeat business. Full-menu marketing having products or services that meet virtually any customer's needs and/or wants. Slide 14 Feature-Benefit Selling Product features the basic, physical, and extended characteristics of an item. Ex: Different sections at the Emmy Awards Matching the characteristics of a products to a customers needs and wants. EX: A company leases a suite at the Emmy Awards to host their preferred clientele. Slide 15 Feature-Benefit Selling Continued... Customer benefits the advantages or personal satisfaction a customer will get from a good or service. Ex: The benefit of being on the front row at the Emmy Awards results in better viewing of the awards and presentations. Slide 16 Customer Buying Motives Buying motives are the motives for to purchase a product. Rational motives Emotional motives Patronage motives Slide 17 Rational Motives Based on conscious, logical thinking, and decision making. Product dependability Time Monetary savings ($$$) Quality Price Ex: You purchase the newest model plasma TV and Blue-Ray player instead of going to the movies for a year. Slide 18 Emotional Motives Based on feelings Social approval Recognition Power Love Prestige Ex: You buy an iPhone or Nike Shox Elite Mens Basketball Shoe because your friends at school have them. Slide 19 Patronage Motives- Based on loyalty Low prices High quality Friendly staff Great customer service Merchandise assortment Convenience Ex: Going to Chick-fil-A for the customer service or the gas station to buy milk. Slide 20 Decision Making Process Decision-making process the steps customers go through in order to determine what products they will buy. Slide 21 Extensive Decision-Making Occurs when there is a high level or perceived risk, a product or service is very expensive or has a high value to the customer. A customer will conduct research and evaluate product alternatives before making a decision Ex: The Buffalo Bills equipment manager decides whether equipment should be purchased from All- star Athletics or Winners Incorporated. Slide 22 Limited Decision Making Occurs when a customer buys products that he or she has purchased before but not regularly. Familiar- Same old way Ex: The Carolina Little League Team decides whether to advertise in the local paper this season or continue with the same billboard as they had last year. Slide 23 Routine Decision Making Occurs when little info. is needed about the product being purchased Ex: Myers Park High School baseball coach spray paint for decorating the school rocks from the local wholesale store. Slide 24 Activities that take Place During the Preapproach 1. Product information 2. Reviewing current trade periodicals (professional magazines) 3. Sources and methods of prospecting (finding new customers) Slide 25 Product Information Knowing how to use and care for a product is essential when educating consumers and demonstrating a product. EX: Demonstrating to a customer the proper way to oil a baseball glove. 4 Sources direct experience written publications other people formal training Slide 26 Reviewing Current Trade Periodicals It is crucial to stay up to date of current trends and industry information. Ex: The sales manager for the Carolina Hurricanes subscribes to Street & Smiths Sports Business Journal Slide 27 Sources and Methods of Prospecting Prospect - a potential customer. Sources of Prospecting Employer leads Telephone directories Trade Professional directories Commercial lists Customer referrals Cold canvassing