What are the strengths/advantages and weaknesses/disadvantages of using personal selling in the promotional mix?
What will be an ideal response?
Personal selling is the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision. The advantages of personal selling are: (1) A salesperson can control to whom the presentation is made, reducing the amount of wasted coverage, or communication with consumers who are not in the target audience. (2) The seller can see or hear the potential buyer's immediate reaction to the message; if the feedback is unfavorable, the salesperson can modify the message. (3) Salespeople can be very persuasive. The disadvantages of personal selling are: (1) Different salespeople can change the message so that no consistent communication is given to all customers; (2) The high cost of personal selling is probably its major disadvantage - on a cost-per-contact basis, it is generally the most expensive of the five promotional elements. See Figure 14-2.
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Consider Figure 4.1. In the absence of trade, Mexico's producer surplus and consumer surplus respectively equal
a. $120 and $240. b. $180 and $180. c. $180 and $320. d. $240 and $240.
Which of the following statements about undifferentiated selling is true?
A. The undifferentiated selling approach allows salespeople to streamline their pre-call preparation and thus is growing in popularity. B. The undifferentiated selling approach allows salespeople to devote time to customers in proportion to the customer's potential value. C. Many door-to-door salespeople use the undifferentiated approach. D. Undifferentiated selling cannot be used in conjunction with a stimulus-response presentation. E. The undifferentiated selling approach is only useful if customers are heterogeneous.
Longlast Tools, Inc., sells power tools, power tool parts, and related supplies under "full" warranties. Under the Magnuson-Moss Warranty Act, this means that Longlast must provide
A. free repair or replacement of any defective part. B. a toll-free number for a Longlast-approved service company. C. a complete catalog of products and parts available for sale. D. repair or replacement of any defective part at a reduced charge.
Which of the following Sections of the CAFR is audited?
A. Management Discussion and Analysis section B. Financial section C. Financial and statistical sections D. Statistical section