Personal Selling and Negotiation

This blog is intended as a learning purpose for personal selling and negotiation module. This consist of understanding customer behavior and provide the relevant knowledge and technique to deal with various customer.

Guest Speaker: Ethical and Legal Issues in Personal Selling

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Guest Presenter: Mr Michael Lee
Company: Cornerstone Planner (Independent Financial Advisor)

First Slide of Mr Lee's Presentation
Photos of Guest Speaker, Mr Lee:

Mr Lee with NYP Staffs


Mr Lee with his Intern, which is currently studying at NYP too!!!



Highlight 5 Important Points provided by the guest speaker, Mr Lee, during his course of sharing.

Unethical Practices Mr Lee focused during his presentation:
1. Misrepresentation
  •  3types of Misrepresentation:
        i.  Fraudulent misrepresentation -  Instance of a false statement where (1) the party making the statement is aware that it is false or disregards the possibility of it being false, (2) the party making the statement does so to induce another party to enter into a contract, and (3) the other party enters the contract as a result of the statement and subsequently suffers a loss.
       ii.  Negligence misrepresentation - It would be of negligent if it is made without reasonable ground for its belief.
      iii.  Innocent misrepresentation -  It occurs when the representor had reasonable grounds for believing that his or her false statement was true
2. Unlicensed
  • Definition: Having no official licence, not authorised by the law.
  • For example: Great Eastern Financial Advisor Pte Ltd was sued for contravention of section 23 B(3)(A) of the Financial Advisory Act (FAA).
3. Mis-selling
  • Definition: It is an attempt by a salesperson to convince a customer to purchase good/ service that is deemed as not appropriate for the client.
  • Customer often complaint under this category.
4. High-Pressure Selling
  • As mentioned, this was the best case he had read so far
  • Definition: It is extremely aggressive behaviour by an salesperson to convince a consumer to purchase good / service without due regard for the consumer's ability to pay and/ or needs for the product or service.
5. Money Laundering
  • Definition: It is a process of concealing the source of illegally obtained money.

Other point of unethical practices which Mr Lee had mentioned in his presentation:

1. Cheating
  • Definition: Immoral way of achieving a goal used to refer to the breaking of rules to gain advantage in a competitive situation 
Other notes to be taken note of during Mr Lee's presentation:

1. How do complaints affect business?
  • It will affect the sales drastically
  • The reputation of the business or company will be bad
2. Who do people complain to?
  • Direct: For example, handphone spoilt. Customer will go to the service provider and complaint that it was a bad deal.
  • Indirect: Social media including Facebook, Twitter and Blog.
3. Ten most common disputes received by CASE,Singapore:
  • Timeshare (17%)
  • Beauty  (15%)
  • Educational  (13%)
  • Motorcar  (10%)
  • Electrical and Electronics  (9%)
  • Real Estate  (8%)
  • Travel  (8%)
  • Maid Agency  (7%)
  • Contractors  (7%)
  • Furniture  (6%)

AUSSINO - Home Is Where The Heart Is...

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Bed Linen

1.AUSSINO's Product Catalogue 

1.1 A short clip on Aussino's Product Catalogue:



1.2 Here are more information about Aussino's products:

Aussino's All-bedding 

Aussino's Bed Fitted Sheets Sets

Aussino's Bedding Quilt


2. The product that we have choose from the list of products Aussino offers in Singapore:



2.1 Two features and two benefits Blossom Ville provides:


2.1.1 Features
  1. 100% natural cotton which is ultra soft and breathable
  2. True 260 thread count which is lightweight and durable *
2.1.2 Benefits
  1. Suppresses live pathenogenic bacteria, microflora, and fungi and is not known to cause allergies
  2. Long lasting durability

* = Thread-count shows the number of threads in a square inch of cloth. Thread-counts related to bed linen can range from 120 to over 1,000.

Personal Selling in Action

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Mr Nic Ang
Real Estate Salesperson | CEA Registration No: R023805A |
ERA Realty Network Pte Ltd | Estate Agent Licence No: L3002382K |
mobile: 98394659
Real Estate Salesperson (RES) Exam Certified
nicang@hotmail.com
http://twitter.com/98394659
http://www.facebook.com/RealEstateSingapore
http://nicang.wordpress.com







Highlight 3 Areas of value creation that the sales promoter offers to the customer

  1. Service Quality
  2. Sales Professionalism
  3. Execution of the Marketing mix programs

Analab Asia 2011

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What is Analab Asia 2011?

Process solution for energy and plants

The AnaLabAsia2011 conducted recently on 22 to 25 November 2011, the region’s platform for businesses in the analytical technology, laboratory technology, biotechnology and diagnostics industry to meet new customers and create revenue streams. The 17th International Plant Technology Exhibition & Conference, AnaLabAsia2011 will stage a comprehensive showcase of innovative science & analytical applications and technologies.

Research and development takes on a bigger scale in Asia, with continuous investment across various industries.Policy leaders are motivated to commit R&D investment to sustain the growth. The total global spending on R&D is predicted to increase 3.6%, to almost US$1.2 trillion in 2011, and Asia is set to take up 35.3% of this. Singapore government plans to spend S$16.1 billion (approx. US$20.3) over 2011-2015 on research, innovation and enterprise. The new allocation is a 20% increase over the commitment from 2006 to 2010.

Benefits  
We have categorized the benefits into two, Social Solar and environmental:



  1. Charlston Technology would be able to get new customers as many people would flock by to visit the show and search for potential partners to do business and R&D with by getting the right customers to go to them, therefore, the exibitors do not need to source for the customer. 
  2. Charlston Technology would have the chance to showcase to prospects their company and what they do and the products offered. They will be able to present to prospects their company’s technologies and how prospects would benefit if they should choose to do business with them. 

Selling skills

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Select three selling activities which is most likely to perform

Working with others
Write up orders, Expedite orders, Handle back orders, Handle shipping problems, Find last orders

They are various kind of people with various character, working with others is important to deliver the service or product to customers or suppliers.However, each individual consist of different strengths and this is to promote better delivery and enhance efficiency when working with others.

Entertaining
Entertain clients with golfs, Takes client to dinner, Take clients to lunch and dinner, Throw parties for clients.

Entertaining is an interesting tasks because it makes everyone happy. Many a time client will be entertain with golf because golf is a client friendly activity. Making the clients happy is important to retent them and ensuring that the deal is follow up.

Training and Recruitment
Recruit new sales rep, train new sales people, travel with trainees

Recruiting employee is a major task for a company because they have to choose the right person to suit the job. The potential employee must have a set of skills and expertise in the field to provide for the company. as this days, job is very competitve, therefore having education is also as important.

Select three least selling activities which is likely to perform:

Selling Function

This became one of our least likely selling activites to perform as we think that this function is not easy for us to execute well. There are many duties and responsibilities needed in this selling function.

Attending Conferences and Meetings

There are too much expectations out of this sales and clients conferences. We have to make proper sales presentations in order to attract client to invest in our products/services.

Technology

Reason being, this industry is particularly fast paced and market needs and wants are changing rapidly. Also, we do not have sufficient IT skills and knowledge to execute such selling activity.

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Main advantages to careers in selling


Personal selling as a career is unique and has many benefits, as most personal sales received rewards which involve commission based on successful sales. The personal sale have the opportunity to develop a wide variety of skills such as interpersonal, communication, time management and net working skills. The flexible working hours have also attracted the personal sales as they can enjoy the freedom and achieve their 'expected salary' at their own target.

What is involved in becoming a customer-centric organization?


In a customer-centric organization, it should have a customer life-cycle orientation, to work with the customers so as to solve both immediate and long-term issues and having innovation and authority at the front line with them. In addition, employees must know how to balance between customization and the complexity of the customers. This will tend to have a more successful conversation between the employees and his customers. Not forgetting, a high degree of organizational trust and having a broad definition of the customers value proposition  are mandatory for these fields.

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