Personal Selling Essay

Step 1: Prospecting Prospecting, involves the Money, Authority, Desire (M.A.D) approach. Firstly I analysed my prospective clients to ensure that they had the money, authority and desire to purchase the products I was selling. Upon analysis I realised that since my target customers were friends and colleagues who themselves had authority on their purchases I decided to focus on Money and Desire. The prospecting methods I used were direct mail, networking and telephone. I sorted through my contacts on social networking sites such as Facebook, Friendster and MSN and also a list of past and present colleagues to sift for viable prospects. Step 2: Pre-approach At this stage, I did a few things to make my personal selling successful. Firstly I drafted email messages and messages to be sent on social networking sites to my viable contacts to inform them about the promotions and items I was selling. I also ensured to highlight the discounts that they would be receiving by purchasing the items from me. I believed that this would create an image of professionalism as it would portray that as a salesperson, I am well informed about my products. Step 3: Approach I moved on to approach, sending out emails and messages through the social networking sites informing them about my products. I also made use of the Chinese New Year season to target those celebrating to purchase the New Year goodies that I was selling. I also promoted the many vouchers, as thoughtful gifts for Valentines’ day for their loved ones, placing emphasis on the Swensen’s Valentines’ day cake voucher as it was one of the few items on sale that was Halal certified allowing me to widen my target consumers to include my Muslim friends, in the process using the customer benefit approach highlighting the discounts they would be receiving if they purchased the items from me. For potential prospects for products from MSC Studio and Mini Challenger outlets, I provided them with the product information and on-going promotional information which I obtained from posters and Colleagues working in MSC Studio as well as from my personal experience working in Challeng er Mini. Which in this case is the product approach. Step 4: Presentation At the presentation stage, I use 2 methods of presentation, AIDA approach and Need Satisfactory Method. AIDA approach includes, getting Attention, making prospect Interested, convert his Desire to conviction, as well as to take purchase Action. Which in this case, I have done it through sending out PowerPoint slide attachment and also created an album on facebook containing the products I’m selling. I also included the pricing and the discounts that they would be receiving. This grabs the prospects Attention, Interest and Desire to take Action. The need-satisfaction method would be to confirm clients’ needs and to show the product that can offer solution. In this case, I would approach potential prospects and ask them questions on what they are looking for maybe in-terms of Chinese New Year goodies or Valentines’ day gifts and be sure not to make them feel uneasy while doing so. After confirming their needs, recommendations would be made to them based on individu al customer needs. Step 5: Trial close After the presentation stage, I would ask if there are any discomforts in my recommendations. Example, â€Å"Are these what you’re looking for?† and â€Å"how does this sound to u?† For prospects who seemed interested but needed time to think about it, I made follow up calls about a couple of days later to ensure that it would not become a dead sales lead. This eventually made way for a few successful sales. Step 6: Objections There is definitely bound to be objections in the course of personal selling. Some of the objections that I faced from my prospects were: 1. Not interested in the item 2. Not Halal. 3. Too expensive. 4. Already bought. 5. Uncertainty in purchasing Step 7: Meeting Objections When I face objections, I would try to come up with solutions. These are some solutions for the above objections: 1. Try to offer another product that suits their need or interest 2. Offer to hold the sales period open for them till the very last day. 3. Offer cheaper range products which meets their budget. 4. Introduce them to other products which they may not have bought. 5. Persuade them by highlighting the benefits of buying the product. Step 8: The close For products from the Cupid ‘N’ You pre-order, during the closing I would have to take down their order, reconfirm it, and collect the money as well as to inform them about the collection date (27 January 2011). I would also thank them for buying from me. As for personal selling done at MSC Studio, I would just thank my customers for buying as the collecting of money and taking of order are suppose to be done by the MSC staff. Step 9: Follow up and Service I intend to contact my customers a few days in advance before the 27th of January, to remind them that the items will be ready for delivery on the 27th of January. I will also be personally delivering the items to my customers. I intend to attach a personalised thank you note with each of my customers to show my appreciation for their support. I would also be offering free gift wrapping for items which have been intended as Valentines’ day gift, upon request from my customer. A satisfied customer is a loyal customer and satisfied customers are known to spread positive word-of-mouth and this would defiantly prove to be essential should I need their continued support in future sales tasks. Question 2 Personal Selling Event For this round of Personal selling project, we were given Cupid ‘N’ You, a Chinese New Year and Valentines’ Day pre-order event to work with by the EMRS, TEP– MSC festive team. The items on sale for this event were from various companies that included Mrs Fields, Awfully Chocolate, Astons, Ritz Apple Strudel and Swensen’s, Fragrance, Horse Brand Bird’s Nest, Taiwan snacks, CNY Pastries Season and Cornery Popcorn. Mrs Fields and Astons offered discounted cash vouchers while Awfully Chocolate Ritz Apple Strudel and Swensen’s were offering discounted product vouchers. Fragrance offered three different varieties of ‘Bak Kwa’ in either 500g or 1kg packages at a discounted price. Horse Brand Bird’s Nest offered different varieties of Bird’s Nest, chicken essence as well as abalone. Taiwan snacks, CNY Pastries and Season offered snacks, cookies, cakes and pastries, well suited as Chinese New Year goodies. Cornery Popcorn, offered two, regular sized popcorn as a set allowing customers to choose from a range of three flavours. Moreover being attached to Challenger Mini for this stopover, I could also only include items from MSC Studio which housed brands such as Faceshop, Sasa, Giordano, Six accessories, Ameba as well as many others and Challenger Mini two year memberships into my overall Personal selling. Question 3 Refer to annex 1 Question 4 Lessons Learnt Lessons that I have learnt in the course of this personal selling process is that One must have sufficient product knowledge before they can do recommendations that suit individual consumer needs and persuade their customers to successfully buy their products. There will always be rejections but I should not let that put me down, instead I should develop a more positive mindset in failures and use that as a stepping stone and improve on my sales techniques in order to achieve my target. I have also learnt to always be aware of a sales opportunity as it may arise at any time. I should also be aware of my competitors offering so that I will be able to highlight the benefits of purchasing from me. Challenges The challenges I encountered for this project was the tight deadlines that had to be met. In addition, with the busy pace of life, sometimes people tend to overlook emails and messages so I had to follow up with every single prospect to verify their interest in the products and try to close the deal which was time consuming. There was also the issue of my customers preferring competitors offering in the case of ‘Bak Kwa’. I â€Å"lost† quite a few customers as they preferred Bee Cheng Hiang ‘Bak Kwa’ comparative to that from Fragrance that I was selling. I had to place great emphasis on the discount being offered, to tempt my prospects. One specific challenge that I encountered was a prospective customer who was aware of this promotion and had expressed interest in it, had to go to Malaysia urgently for a week. I was unable to reach her to close the deal in time. My friend only came back to Singapore on the 21st of January 2011 and contacted me immeiately to order six kilograms of Fragrance ‘Bak Kwa’ from me. I was unable to process this order as the last date to place the order for the festive sales was 20th January 2011. Even though I was unable to close such a huge individual deal, I am glad that this Personal Selling Process has given me a greater exposure to the real working world. Lastly, through this process, I have learnt to be flexible and provide good customer service in order to meet customer’s needs.

Self-Preservation Japan Territorial Ambitions

The need for self-preservation was the motivating force behind Japan’s territorial ambitions. † In my opinion,self-preservation refers to the preservation of Japan’s territories as well as the achievement of self-sufficieny(autarky). Thus, I feel that Sources B,C and D support the statement while Sources A and E do not. Source B supports the hypothesis. It states the two reasons why Japan went to war and is reliable because it is a report of the Japanese government conference held in 1941.Source B states that Japan will â€Å"seek to establish a solid basis for security and preservation of the nation†and â€Å"advance south†. This shows that Japan wanted to protect its territories like China and sought to establish its military so that it could conquer more territories for more natural resources to reduce reliance on other countries . Also, Japan needed to â€Å"establish a solid basis for security† so that it could protect itself from externa l threats. Japan felt that in order to be more powerful, it needed to conquer more territories and preserve its current territories.To Japan, power was the key to self-preservation and thus, in order to satisfy its need for self-preservation, Japan became hungry for power and this ignited Japan’s territorial ambitions. Source B also states that Japan’s main reason for expanding its territories was the â€Å"policy that resulted in the establishment of the Greater East Asia Co-Prosperity Sphere†. Thus, I can infer from Source B that Japan conquered other territories because it wanted to achieve self-sufficiency.From my contextual knowledge,Japan established the Greater East Asia Co-Prosperity Sphere on the pretext of wanting all the economies in East Asia to prosper together. However, Japan’s main aim was to control the economies and trade and at the same time, the countries’ natural resources. By doing so, Japan was able to gain more natural resour ces for its growing industries and population as well as use the Southeast Asian countries as overseas markets for Japanese goods. Hence,I feel that Source B shows that the motivation behind Japan’s territorial ambitions was its need for self-sufficiency.

An Understanding Of Gender Perception, Gender, And Gender...

On the basis of this we may say that on the one hand, an understanding of gender perception, gender role assignment, and gender subversion can be achieved only within a given socio-cultural context; and on the other hand, only a polyvalent and dynamic approach to the real workings and functioning of these sources can inform us. In order words we need to understand how concepts like monolingualism, multilingualism, Islam, and illiteracy work in real social everyday life. Thus, the question that theories of gender in our part of the world should address is: What are the socio-cultural sources of power and authority in the region that constitute culture and regulate gender perception, gender role assignment, and gender subversion? Among the various sources of power and authority, seven stand out: history, Islam, multilingualism, orality, social organization, economic status, and political system.† II. METHODS Research Setting This research will be conducted with a non-governmental organization serving women victims of gender biased violence, and women who find themselves in a deep state of precariousness as runaway young women and unwed mothers called the Moroccan Women’s Protection Center (MWPC). Founded in May 2003, the MWPC is a small, and independent organization in Southwest Coastal Morocco committed to helping and supporting women victims of moral, socio-economical, psychological and physical violence. Contacts with the MWPC were made with the assistance of Dar SiShow MoreRelatedGender Inequality And Its Impact On Children s Developmental Essay1396 Words   |  6 Pagesoverlook gender inequality because race inequality is prevalent and easily recognizable. Like racial inequality; gender inequality is also a real issue in America. Gender stereotypes are perpetuated throughout our lifetime beginning when we are children. 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Literacy Learner - 1729 Words

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Peace, Love, Unity, Respect Essay - 664 Words

We intently display ourselves sporting the most fashion conscious trends in our suburban manifestations of white picketed, identically boxed houses. However, what would happen if your neighbours white picket fence was no longer white but psychedelic orange, and instead of quaint jazz music, hard electro-dance would blast out of their windows? Certainly the average Joe would have a few choice words about the situation. Funny enough, America is known as the land of the free, but ironically we are still fighting the restrictions of social enclosure. Our society spews its conformist values on anything it surrounds, and in the moment that one seems different, we quiver. Amongst these individuals are ravers, members of a grossly†¦show more content†¦The second largest rave in the world was invading two thirds of the city. In sneakers and jeans with a camera in hand, I was the epitome of awkwardness. Everyone that seemed to pass wore nothing but body paint and sparkles. 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Finance Assignment RIST Ltd

Question: Describe about the context of the modern business scenario, financial accounting and financial management plays an effective role of RIST Ltd ? Answer: Introduction Introduction to the company In the given assignment, the organization RIST Ltd has been chosen. The main product of the given organization is a technology that can be used by several sports persons to measure and monitor their daily activities. In addition to this, it can be inferred that it is a new organization which has future plans to launch a smart watch in the current market segment. Purpose of the given report In the present context of the modern business scenario, financial accounting and financial management plays an effective role. It can be further inferred that there are several financial decision making tools that are required to be evaluated by all the modern business organization (Carmona, 2012). In addition to this, it can be deduced that this assignment will reflect the analysis and feasibility of the tools and techniques with respect to the given organization. This report will also throw light on the evaluation of the feasibility of the smart watch that the organization is planning to launch. Overview Use of NET PRESENT VALUE and Internet Rate of Return The capital budgeting tools of Irr and NET PRESENT VALUE is of great essence to determine the feasibility and success criteria of a given project or different projects. For example, NET PRESENT VALUE helps to determine the future value of the project and is a summation of net cash inflows and net cash outflows with respect to the initial investment and cost of capital of the project(Goel, 2015). In addition to this, it can be inferred that Irr can be defined as the total rate of return that the investor can expect to get after the completion of the given project. NET PRESENT VALUE also takes into consideration the rate of inflation and time vale of the project. Both the given capital budgeting techniques is of great essence to interpret the feasibility and reliability of the given project. If both these tools are on the positive side, then it can be inferred that the project is said to be positive and accepted in a great manner. Cost of capital and its relationship with the above given methods Cost of capital can be defined as the rate of investment that is required to fund any particular project. It can be also defined as the total opportunity cost of any particular project. The rate of cost of capital depends upon the allocation of funds of any organization with reference equity and debt. It can be also defined as hurdle rate which is required to be minimized for any particular project. Cost of capital is directly linked with the above methods of NET PRESENT VALUE and Irr (Kocherlakota, 2010). While calculating NET PRESENT VALUE of a project, the rate of cost of capital is used. In the same way, higher cost of capital will directly decrease the rate of Irr. If NET PRESENT VALUE is less than 0, then Irr will be less than the cost of capital. On the contrary, if NET PRESENT VALUE is more than zero, then Irr will be the cost of capital. Calculation of both the methods through Excel From the excel spreadsheet, it can be deduced that the NET PRESENT VALUE project Borkell is coming to be $22661 and Irr of Borkell project is coming to be as 15 percent (Refer to Appendix 1). On the other hand, in case of the project index, NET PRESENT VALUE is coming to be-73,491 and Irr is coming to be as 15 percent (Refer to appendix 2) Feasibility of the methods the given projects From the above analysis, it can be deduced that the firm will be profitable in case of the project Borkell. In addition to this, since NET PRESENT VALUE of the given project is coming to be as 22661 and Irr of the project is coming to be as 15 percent, therefore, it can be deduced that the project will be accepted. On the other hand, in case of project index, both NET PRESENT VALUE and IRR are coming to be negative, therefore, the first project can be considered as feasible in nature. Therefore, it is recommended for the organization to select the project Borkell as it will incur positive returns of the given project. On the other hand, non-financial factor may include factors like feasibility and overall duration of the given project. Due to this reason, it is of great essence, to incorporate the project Borkell for the organization RIST ltd on the basis of financial and non-financial factors. Implications of the project on the working capital management of the organization It can be deduced that both the projects, that is the project Borkell and project impress will have a considerable impact on the working capital management of the project. Firstly, it can be inferred that project impress will have a positive impact on the working capital cycle of the organization. This is mainly because, the cash flows of the particular project is on the higher side. It further infers that the current asset of the organization is more than current liabilities of the organization (Mowen, Hansen Heitger, 2014). In addition to this, the working capital cash is also positive for the given particular project. On the other hand, in case of project impress, though the initial cash flows are on the positive side, but, the total cash inflows are less than the total cash outflows. On the other hand, due to this major reason, the NET PRESENT VALUE and Irr of the project is coming to be negative. Short term financing options -Comparison The given short term sources of finance include overdraft, short term loans and factoring of accounting receivable. In case of overdraft, the financial leverage of the organization will be on the higher side. In case of short term loans, the rate of interest will be high, but, it is preferable for the organization as it is a growing new firm. Therefore, it is recommended for the organization to opt for short term financial loans to meet up the short term debts and short term working requirements of the organization. In addition to this, it is not preferable for the organization to select accounts receivable as it is for long term purpose. This is mainly because; the project requires mainly short term capital requirements in order to meet the requirements of its working capital cycle. In addition to this, it can be deduced that short term loans are generally paid on the basis of short term interest rates. Therefore, the debt structure of the organization will be on the lower side and the short term requirements can be easily fulfilled (Whitecotton, Libby Phillips, 2014). Calculation of the feasibility of both the options of Project Impress From the NET PRESENT VALUE of the project impress, it can be deduced that NET PRESENT VALUE in case of is -75132 and in case of purchasing option, the NET PRESENT VALUE of Impress project is coming to be as -8403. For this reason, it can be deduced that the option of purchase, is more preferable for the organization in comparison to the leasing option by keeping cost of debt as 8 percent. Though, it can be deduced that both the NET PRESENT VALUE is coming to be negative, still the option of purchase can be considered to be more preferable. Analysis of the options of the project impress From the above analysis of NET PRESENT VALUE of the leasing and purchasing options of the project, it can be deduced that it is preferable for the organization RIST ltd to opt for purchasing option, rather than going for the option of lease. There are several financial and non-financial factors that are involved behind the given case. The financial factors can be concerned with the aspect of the structure of working capital management of the organization. In case of leasing option, the cash flows of the organization will decline in comparison to the options of purchase. In addition to this, the amount of debt that will require for the option of lease will be higher in comparison with the option of purchase. Due to this reason, it is important for the organization to directly purchase the machine to get the benefits of the salvage value. In addition to this, it can be also deduced that though the total duration of the project is only 5 years, still the organization is required to take effective steps towards working capital cycle. In case of non-financial factors, the duration of the project and feasibility can be taken into consideration (Bank, 2010) Conclusion From the above analysis, it can be deduced that the organization is required to manage its working capital cycle. In accordance to this, it must choose short term debt to meet the short term debt requirements. In addition to this, the organization must choose purchasing option of the machine for financial and non-financial requirements. References Bank, W. (2010). Global Development Finance 2010. Washington: World Bank. Carmona, R. (2012). Numerical methods in finance. Berlin: Springer. Crosson, S. (2014). Managerial accounting. South-Western Cengage Learning. Goel, S. (2015). Capital Budgeting. Business Expert Press. Holland, J., Torregrosa, D. (2008). Capital budgeting. [Washington, D.C.]: Congress of the U.S., Congressional Budget Office. Journal of Financial Reporting Accounting. (2010). Managerial Auditing Journal, 25(6). doi:10.1108/maj.2010.05125faa.001 Journal of Financial Reporting Accounting. (2010). Managerial Auditing Journal, 25(4). doi:10.1108/maj.2010.05125daa.001 Kocherlakota, N. (2010). The new dynamic public finance. Princeton: Princeton University Press. McMillan, E. (2010). Not-for-profit budgeting and financial management. Hoboken, N.J.: Wiley. McMillan, E. (2010). Not-for-profit budgeting for nonprofit organizations. Hoboken, N.J.: Wiley. Mowen, M., Hansen, D., Heitger, D. (2014). Cornerstones of managerial accounting. Mason, OH: South-Western Cengage Learning. Peterson Drake, P., Fabozzi, F. (2002). Capital budgeting. New York, NY: Wiley. Whitecotton, S., Libby, R., Phillips, F. (2014). Managerial accounting. New York, N.Y.: Mcgraw Hill/irwin.

Macro Marketing Environment and the Sa Airline Industry Essay Example

Macro Marketing Environment and the Sa Airline Industry Paper There is a positive outlook on the Airline Industry as long as the political environment is stable. Due to positive policies and passing of laws hat support economic growth such as Liberations of sky regulatory frameworks as well as tax policies and consumer policies assures an inspiring sign in the industry. Increased competition due to various market offers by different players in the industry. This requires Low cost airlines like Mango to be more innovative in order to retain as well as gain new clients for their services. A times when policies and aviation regulation become strict it entails airlines such as Mango Economizer to the wider economy and include economic growth rates, levels of employment and unemployment, cost of raw terrestrial such as energy, fuels and inputs for production, interest rates, monetary policies, exchange rates and inflation rates. Economic growth is a guaranty of more and more travels within the country and as well as international travels by both locals and foreigners. Exchange rates are in favor of the rand and low inflation meaning more disposable income results in income growth and high volumes of business for the airline industry. But, of late due to the economic downturn since 2008 this has had a negative impact on the industry. Low cost airlines such as Mango have to come up tit effective business strategies that ensure cost effectiveness in operation cost as well increase in price for the services they offer in order to maintain their customer relations as well as gain new ones. We will write a custom essay sample on Macro Marketing Environment and the Sa Airline Industry specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Macro Marketing Environment and the Sa Airline Industry specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Macro Marketing Environment and the Sa Airline Industry specifically for you FOR ONLY $16.38 $13.9/page Hire Writer They can be affected by increase in fuel and energy prices meaning they have to find more cost effective energy sources as well as come up with cost effective flight schedules. Refer to the rate of new inventions and development, changes in information and mobile technology, changes in internet and e-commerce and government spending on research. Further involves development of materials, new methods of manufacture, distribution and logistics. Due to environmental awareness issues such as going green there is need the use of more environmentally friendly fuels and energies. Industry will ensure high cost in a bid to ensure this. Climate change results in unpredictable weather patterns which in turn causes a disruption in Flight scheduling. Airing like Mango have to look for alternative forms of natural resources that promote environmental preservation that are also cost effective. Eight schedules can be charted around a study of new weather patterns.