ABSTRACT
Personal selling is the oldest instrument of promotion mix which is achieved through direct two- way communication between seller and the buyer. Personas selling, unlike the other elements of promotion generates a profit for the company, although at the same time, it engenders considerable cost. Personal selling is the unique element of marketing, it does not only create awareness and provide information about the features of the product; it also adopts individualistic approach that is designed to meet specific need of prospects and specific market segments. It contributes to both bottom- line and growth of organizations as widely acclaimed by academics and practitioners. In this study, the researchers investigated the activities of personal selling in the operations of Innoson technical and investment co. Limited with a view to determining its impact on the case study firm’s growth potentials. The researcher used questionnaire to obtain first hand information from the population. Some hypothesis were coined and tested. Some findings were made including that the patronage pattern of Innoson products by customers is highly dependent on the company’s sales force performance, that the returns generated by Innoson company is directly proportional to the effectiveness of the sales force; that there is a direct relationship between the company’s sales growth and its operational profitability, among others. Conclusions and recommendations were made, including that the company’s sales force should be regularly trained and that there is need for the company to enhance its distribution network to increase its market share
TABLE OF CONTENTS
Title page i
Declaration ii
Certification iii
Dedication iv
Acknowledgement v
Table of contents vi
List of tables viii
Abstract x
CHAPTER ONE
1.0
INTRODUCTION
1.1 Background to the study 1
1.2 Statement of problems 2
1.3 Objectives of the study 3
1.4 Research questions 3
1.5 Research hypothesis 4
1.6 Significance of the study 4
1.7 Scope of the study 5
1.8 Limitations of the study .5
CHAPTER TWO
2.0
REVIEW OF RELATED LITERATURE
2.1 Personal selling 7
2.2 Personal selling attributes 11
2.3 Personal selling process 18
2.4 Essential elements of personal selling 21
2.5 Personal selling, relationship building and sales management 22
2.5.1 The sales relationship- building process 22
2.6 Contributions of personal selling 24
CHAPTER THREE
3.0
RESEARCH METHODOLOGY
3.1
Research design 26
3.2 Study area 26
3.3 sources of data 27
3.4 Population of the study 27
3.5 Sample size determination 27
3.5.1 Sampling
technique 27
3.6
Method of data collection 28
3.7 Reliability of instrument 28
3.8 Method of data analysis 28
CHAPTER FOUR
4.0 RESULT AND DISCUSSION
4.1
Analysis of data from
respondents 30
4.2
Analysis of staff responses 32
4.3
Analysis of responses from
consumers 37
4.4
Test of hypothesis 40
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION AND
RECOMMENDATIONS
5.1
Summary of findings 46
5.2
Conclusion 47
5.3
Recommendations 48
LIST
OF TABLES
Table 1 stages and objectives of the personal selling process 20
Table 4.1 Questionnaire Distribution and Return Analysis 30
Table 4.2 Respondent’s Gender 31
Table 4.3: Academic Qualification of Respondents 31
Table 4.4 Respondents Marital Status 32
Table 4.5 Availability of Sales Persons 32
Table 4.6: Effectiveness of the Sales Force 33
Table 4.7: Professional Capability of Sales Force 33
Table 4.8: Staff Rating of Competitors Performance 34
Table 4.9: Sales Force Training Rating 35
Table 4.10 Possibility of Sales Force Efforts Increasing Sales
Volume 35
Table 4.11: Dependence of The Firm’s Growth on the
Sales Force 36
Table 4.12: Frequency of Customer Purchase of Innoson Products 37
Table 4.13: Reason for Purchase of Innoson Products 37
Table 4.14: Attitude of Innoson Sales Persons towards Customers 38
Table 4.15 Sales Person’s Influence on Consumer Purchase Decision 39
Table 4.16: Possibility of Sales Force Efforts
Increasing Sales Volume 39
Table 4.17: Dependence of the Firms Growth on the
Sales Force Effectiveness 40
Table 4.18: Possibility of Sales Force Efforts
Increasing Sales Volume .41
Table 4.19: Sales Person’s Influence on Consumer
Purchase Decision .43
CHAPTER ONE
INTRODUCTION
1.1
Background of the Study
Personal selling brings the buyer and seller into direct
contact. It is important that every organization should employ and constitutes
a sales force charged with the responsibility to ensure that customers and
prospects are contacted and convinced to accept the items offered in exchange
for a value needed by the organization.
There is no amount of advertising, sales promotion and
publicity that can be equal to personal selling. This is because contacts must
be established by somebody with buyers somewhere for marketing transactions to
take place.
The sales force in modern marketing does not only
perform the task of achieving the current sales, they are also concerned with laying
the foundation for further sales through the performance of the information
gathering functions. And to properly carry out this function, and organization
should always have a skilled manager who manages the sales force efficiently
and effectively.
As a result, sales management is defined “as the
organization efforts necessary in planning sales objectives, selecting,
training and motivating appropriate sales force and controlling their
operations towards ensuring the full realization of sales objectives Okeke (1999).
Salespersons are trained in a method of analysis and
customer management. Today, selling is a profession that involves mastering and
applying a set up principles. Personal selling has some different styles. Sometimes
antithetical to the spirit of marketing concepts.
Three major aspects of personal selling are
salesmanship, negotiation and relationship Kotler, (2010).
Salesmanship involves the sales person persuading the
customer or prospect to see his point of view or do something the way he wants.
Negotiation involves the activities of two or more
parties reaching to an agreement on the price and the other terms of sales.
Most business selling involves negotiating skills price is usually the issue
being negotiates. Others include; purchase volume, responsibility for financing
risk taking, promotion of product safety etc.
Customer relationship Management is a wider concept that
guide the sellers dealings with the customers salesmanship and negotiation are
transaction related as regards relationship management, any seller who builds
and manages strong relationships with key customers will have a reasonable
turnover from the customers and mostly importance to those customers who can
typically affect the company future.
Finally, salespersons realize profit from various sales
and ensure those customers are satisfied in buying organization’s outputs. And
this calls for corporate growth potentials. This work therefore aims at
critically evaluating the effects of these all important marketing function of
personal selling on corporate performance.
1.2 Statement of the Research Problem
Meeting
organizational goals is not only for the survival of the enterprise but for the
growth and advancement of the business.
The primary salesperson’s role involves facilitating the
relationship between the buyer and the selling firm. Also company’s survival
depends on its ability to attract and retain customers who purchase its
products and services.
However, the now highly informed and enlightened
customer exercise his choice of purchase with consuming care and selectivity.
And this puts the selling job on the spot and only the strong will service.
Managers are therefore challenged to do everything within their powers to make
sure that the firm’s economic performance restores shareholders’ confidence and
value.
Therefore, this study tends to examine the operations of
Innoson Investment and Technical Company Limited with the view of determining
the impact, contribution of its persona2l selling activities as an instrument
for its growth potentials.
1.3 Objectives of the Study
The general objective of this study is to examine the
effect of personal selling on sales of Innoson technical and Investment Company.
The specific objectives are;
i.
To ascertain the need for
personal selling in the operations of Innoson Technical and Investment Ltd.
ii.
To investigate the growth
potentials of Innoson Technical and Investment Ltd.
iii.
To determine the effects of
personal selling on the operation of Innoson Technical and Investment Company
Limited.
1.4 Research Question
a.
Does Innoson Technical Limited
have need for personal selling?
b.
What are Innoson’s preferred
approaches to its growth potentials?
c.
What are the effects of
personal selling on Innoson’s business performance?
1.5 Research Hypotheses
Below are the hypotheses of this study
a.
Ho: Innoson Limited
has no reason to resort to personal selling.
Hi: Innoson Limited has reason to resort to
personal selling.
b.
Ho: Innoson Limited
has no preferred approach to achieving its growth potentials
Hi: Innoson Limited has preferred approach to
achieving its growth potentials
c.
Ho: Personal selling
has no effect on Innoson’s pursuit of growth potentials
Ho: Personal selling has effect on Innoson’s
pursuit of growth potentials
1.6 Significance of the Study
The following are the beneficiaries of this study, they
include;
The general public:
It serves as readily accessible information to
organization, institution, media houses and business owners who seeks to know
the contributions of personal selling on technical products
The Academia: It will add to the stock of existing literature on the
contributions of personal on technical products
The Readers: It will widen the reader’s knowledge
The University
Community: It serves as guild and a reference to
the research community for further studies.
The researcher: It serves as a pre-requisite for the completion of the
researcher’s study of marketing in the tertiary institution.
1.7 Scope of the Study
This research work is intended to examine the
contributions of personal selling in the operations of manufacturing companies,
with a particular focus on the operations of Innoson Investment and Technical
Company Limited
1.8 Limitations of the Study
Limitations to
this study are more pronounced in the following areas
i.
Dearth of Related Literature
The research was able to go through some of the related
literature, but some of the works concentrated mostly on personal selling is
the context of developed economies like USA, Canada and Europe. Not much
insight was gained when considered in the light of developing countries like
Nigeria. Hence, the researchers were subjected to intensive search for current
materials relevant to the subject under consideration to localize the study and
match the practical demands of the research work.
ii.
Uncooperative attitude of respondents
The knowledgeable respondents who are mainly top
managers of the Innoson ltd were not always available and if available were not
easily accessible to provide the necessary information required. In addition,
some who are even accessible deem the information too secret to be divulged
probably for fear of selling their strategies to competition or even losing
their jobs.
iii.
Inadequate finance
The researcher faced a lot of financial constraints due
mainly for the fact that the numerous trips to Innoson over stretched our
resources/budget for the study.
iv.
Time constraints
The fact that the study had to be undertaking along side
with normal lectures and examinations, more often than not the researcher had
to skip some lecturers in order to meet up with the appointments in connection
with the study. In spite of the above mentioned constraints, the researcher
still was able to carry out an objective study to arrive at logical conclusions.
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