Selling is an important function of marketing that transfers ownership of goods and services by the seller to the buyer in terms of money. It is one side of equation of exchange, where another side is buying when products are sold to buyers, sellers hand over ownership to the buyers. Hence, ownership transfers from the possession of sellers to the possession of buyers is known as silling. It is a process whereby goods and services finally flow to the ultimate consumers.
In modern marketing technology, selling is a means of promotion, i.e. persuassive communication. It persuade a propective buyer to buy the goods or services. Main objectives of selling is to dispose goods at satisfactory price. It is related with product planning and development in addition to create the demand.
Elements/Functions fo selling
There are different elements or functions of selling. They are listed and discussed below.
a. Product planning and development
b. Contact
c. Demand creation
d. Negotiations
e. Contract
Product planning and development is one of the important elements of selling. If there is no product, the question of selling does not come. The starting point of marketing is with a satisfactory product through which consumer's satisfaction aimed. All producers must aim to make to produce a quick mover.
It is the process, which covers the technical knowledge of the product as to its cost and profit consideration available from sale. It is the starting of new idea of one product up to the day it has gone out of the market. The nature of the product is decided by product planning, while product development acts according to plan, i.e. it makes the goods available in accordance with the plan, in connection with the quality, quantity, price, place and time of a customers. It includes product designing, branding, packaging and labeling. So, it is customer- oriented function
, which covers several marketing activities.
Selling function can be operated smoothly if there is contact between buyers and sellers. After contacting the potential buyers, the sellers must create the demand for particular product. Demand creation means special efforts to stimulate a want or desire for goods with the ultimate objectives of sale as profit. It is the process that designed to stimulate the existing desire to take the shape of demand.
Negotiation is the bargaining or discussion between the buyers and sellers to fin
alise the terms and conditions of scale. It can be oral or in written form wher the buyers try to reduce the price and request to provide the better services from the sellers. Finally, they come into the point which leads them to make a contract. Contract is the written agreement where all the terms and conditions for buying and selling are clearly written when it is prepared, both buyers and sellers will sign there. After the signature, the sale is completed and the title is transferred from sellers to buyers. If there is any dispute, the parties proceed to the court of law to get redress.
In modern marketing technology, selling is a means of promotion, i.e. persuassive communication. It persuade a propective buyer to buy the goods or services. Main objectives of selling is to dispose goods at satisfactory price. It is related with product planning and development in addition to create the demand.
Elements/Functions fo selling
There are different elements or functions of selling. They are listed and discussed below.
a. Product planning and development
b. Contact
c. Demand creation
d. Negotiations
e. Contract
Product planning and development is one of the important elements of selling. If there is no product, the question of selling does not come. The starting point of marketing is with a satisfactory product through which consumer's satisfaction aimed. All producers must aim to make to produce a quick mover.
It is the process, which covers the technical knowledge of the product as to its cost and profit consideration available from sale. It is the starting of new idea of one product up to the day it has gone out of the market. The nature of the product is decided by product planning, while product development acts according to plan, i.e. it makes the goods available in accordance with the plan, in connection with the quality, quantity, price, place and time of a customers. It includes product designing, branding, packaging and labeling. So, it is customer- oriented function
, which covers several marketing activities.Selling function can be operated smoothly if there is contact between buyers and sellers. After contacting the potential buyers, the sellers must create the demand for particular product. Demand creation means special efforts to stimulate a want or desire for goods with the ultimate objectives of sale as profit. It is the process that designed to stimulate the existing desire to take the shape of demand.
Negotiation is the bargaining or discussion between the buyers and sellers to fin
alise the terms and conditions of scale. It can be oral or in written form wher the buyers try to reduce the price and request to provide the better services from the sellers. Finally, they come into the point which leads them to make a contract. Contract is the written agreement where all the terms and conditions for buying and selling are clearly written when it is prepared, both buyers and sellers will sign there. After the signature, the sale is completed and the title is transferred from sellers to buyers. If there is any dispute, the parties proceed to the court of law to get redress.
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