TUTORIAL 13 : GUEST SPEAKER SERIES

5 important points shared by Mr Michael Lee, Cornerstone Planner

1. Cheating

Definition of cheating refers to an act which is dishonest or unfair in order to gain an advantage. Example:  in order for one sales person to meet his/her sales target, he/she will fake his/her applicant pay slips. It will make her annual pay looks as though it has met the minimum requirement set by the bank. 

2. Misrepresentation

Misrepresentation is a false statement of fact made by one party to another party, which has the effect of inducing that party into the contract. Mr Michael Lee explained that there are three different types of misrepresentation. 

• Fraudulent Misrepresentation

It occurs when one makes representation with intent to deceive and with the knowledge that it is false.  It can also be made recklessly without regard whether it is true or false. 

• Negligent Misrepresentation

It occurs when the maker carelessly makes a representation while having no reasonable basis to believe it to be true. 

• Innocent Misrepresentation

It occurs when the maker had reasonable grounds for believing that his or her false statement was true

3. Misselling

An unethical behavior where a salesperson will mislead his/her prospect about the product/services. The salesperson may leave out certain information about the product/service which will affect the prospect's decision greatly in favor of the salesperson. 

4. High-Pressure Selling

It is another term for describing hard selling. It is an aggressive behavior made by a salesperson to convince a prospect to buy the product/service. The salesperson will not consider the needs or ability of the prospect if he/she is able to pay for the superior product/service or is in need for the product. 

2. Unlicensed

A salesperson is unauthorized or restricted to have the ability and competency to provide product/services to their prospect. 

TUTORIAL 10: WHY PEOPLE BUY?

Selected product : Seahorse diamond mattress

2 features
Made of space-age high density slow recovery foam which is originally designed for aviation use
Fire-retardant, anti-bacterial and anti-dustmite pure cotton fabric ticking and fire-retardant capability 

2 benefits 
Assure safety and health
Gives body ultimate comfort and strong support as well as offering double care 

TUTORIAL 6 : SOURCES OF PROSPECT

2 benefits from The Learning and Development Show Asia, Suntec trade show

1. Large audience

Through such trade show, locals will flock to Suntec. We can reach everybody and anybody there. There will be many people with different needs. It will be better than asking for referrals. It is not restricted to a specific small group but to a large market of prospects.

2. Products and Services

People who visits these trade show have a product or service they want in mind. They went to these trade shows because they are interested and need those products/services. It would help us decrease the time needed to source for potential prospects who are in need of our products. We may be able to get in touch with a new prospect through other different sources, but these prospects may not be the ones which we target. Since these people went to the trade show, they would have know that we provide which kinds of products or services and it save us the time of presenting products or services which they do not need.

TUTORIAL 4: SELLING SKILLS

Give 3 selling activities which we would like to perform most.

1. Entertaining

Through entertaining, we can build rapport with our prospects. This is where we engage in social contacts with them. It helps us to relax and relief any tension atmosphere. We find that it is easy to lead and engage in entertaining. By having a smooth and natural conversation starters, the prospects will tend to pay more attention to our presentation and demonstration. If the entertaining activities goes well, the prospect may form a good impression of the salesperson and he/she will be more open to share his/her problems. From there, we can recommend and propose any products or services to solve their problems.

2. The Selling function

We can use various methods in selling our products and services to our prospects. It allows us to be flexible and we can use whichever methods or strategies available to convince our prospects. We are not restricted to a standard procedure and we are allow to improvise from situation to situation. It will pose as an challenge and also, as an advantage to overcome any objections and feel the sense of achievement.

3. Servicing the product

We can always ask our customers any problems or issues they face while using our products or services. Any issues they raise can actually help us in our next personal selling. We are able to know how customers actually handle and use the product so that on our next selling to a prospect, we can makes sure that he/she understand the and will not make the same mistake as the previous customer. Customers can view us as reliable and increase the possibility of repeat purchase from us.

Give 3 selling activities which we want to perform the least.

1. Travelling

Travelling is a waste of time. Singapore may not be a huge country but travelling from example, Jurong East to City Hall, requires approximately an hour by train. It wastes our time by standing and staring into space on train or bus. Especially when a personal selling actually fails and the salesperson went a long distance to meet with the prospect.

2. Training and Recruitment

People tend to believe that salespeople are "heartless". They does hard selling for the sake of receiving incentives or commission. Hence, in their minds, it actually block any sales manager from recruiting them. In addition, for people who do not have the confidence in achieving successful personal selling, it will be difficult to help and develop their skills during training.

3. Servicing the Account

Although it is an essential part of any selling activites, we find it boring and unsatisfying. We would prefer to walk out of the store or office and have the flexibility to meet prospect and engage in personal selling.

Discussion #2

What is involved in becoming a customer-centric organization?

To be customer-centric is to place the needs and wants of the customer as the main focus of the organization and looking at things from the customer's point of view.

• Understanding the Customers' Requirements

With each interaction, it is important to learn more about the customer as only then will their needs and wants be fully understood and properly fulfilled.

• Being Flexible/Allowing Customisation

Different customers have different needs, wants and preferences so organizations will haveto be able to work one to one and be easily customised to satisfy each customer.

• Value Creation

Adding value for the customer and increasing the benefits derived from a purchase.

• Putting the customer in the center of the "universe"

Discussion #1

What are the main advantages to careers in selling?

1. It offers high potential returns and greater earning power.

• Selling is the highest paid hard work and the lowest paid easy work that people can find. Furthermore, it has no income ceiling. No one limits our income but ourselves.

2. It has flexible working hours.

3. It allows freedom of expression.

•  It allows us to be who we are.

4. It is fun and challenging.

• Personal selling is opened to more opportunities and new challenges every day. 

Team members

Class: BM0927 (BG)
Team members :- 

• Wilbur Wee He Wei
• Ang Hui Shan
• Regina Ruan
• Vivian Kam