AN APPRAISAL OF THE IMPACT OF PERSONAL SELLING IN PROMOTING PATRONAGE OF ESTATE PROPERTY. A CASE STUDY OF ADRON HOMES AND PROPERTIES
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CHAPTER ONE
INTRODUCTION
- Background of the study
Personal selling which is one of the functions of marketing is very important in the business and marketing life of an organization, it involves the face to face communication of information from a seller to a prospective buyer, it involves the interaction of both the seller and the buyer for the purposes of facilitating exchange for the mutual satisfaction of both parties.
It has long been recognized as the oldest and probably the most important component of the promotional mix, its age can be ascertained by the fact that word of mouth and recommendation by others long in existence as a method of winning somebody over to some idea.
A curious objective of Nigerian society and habits will reveal that selling is a major and ubiquitous economic activity, it would probably not be wrong to describe Nigeria as a nation of salesman and woman.
Selling is thus a job which the Nigerian takes very seriously, but paradoxically, the professional salesman whom the seller looked down upon, various reason can be adduced for this, firstly, the generally how educational qualification of most of the salesmen.
Secondly, there is the fact that the outward appearance of these salesmen is at best scruffy and finally there is general feeling of insecurity which makes the average Nigerian suspicious of any unvisited visitor who is often assumed to be a potential armed robber.
Insipite of all this, there is little doubts as to the critical role which personal selling, if properly applied could play in the fortunes of a company, particularly, organization like real estate.
The importance of personal selling is inherent in its nature which involves the use of salesman who would usually be quite flexible in pitting across their message to ensure that it confirms to the peculiar needs and idiosyncrasies of their audience.
Another aspect of personal selling which demonstrates its special nature is its lack of impersonality. This quality means that there is the possibility that the commercial in a largely friendly and relaxed atmosphere is focused on general marketing strategies with an emphasis on when marketing and promotional strategies should be personal selling driven or adverting driven. Most firms, however employ both promotional mixes when this is the case, it is important to determine the most effective way to integrate personal selling and advertising efforts.
On typical approach pointed out by Eisenhart (1998: 92 – 97) is to use advertising to generate company’s and product awareness and to identify potential customers. These sales leads are then turned over to the sales force for personal selling attention. The basic objective is to use low cost per contact advertising to identify prospects while more expensive personal selling efforts are used to turn prospects into customers. The effectiveness of the type of promotional strategy was documented by a study of 2,500 sales people that found mode then 85% of the salespeople and received leads from advertising during the past year.
A specific example of effective use of advertising and personal selling is the promotional strategy of Nestle to introduce real estate into the market.
The promotional strategy had four objectives:-
- to increase brand awareness by 60%
- To generate high quality leads for the sales force
- To increase sales by 10% in six months and
- To improve sales force morale.
Although a typical approach would be to advertise in trade publications to increase basis and spend considerable time arraying shelves setting up displays, accepting returned merchandise or addressing other problems.
This unique promotional mix has produced strong relationship with retailers end has allowed the company to compete against larger firms, although an emphasis on personal selling in real estate is type at this time changes in technology indicate that personal selling may become more important in non – traditional business during the next few years as commented in sales technology increased importance of personal selling.
1.2 STATEMENT OF PROBLEM
Personal selling which is one of promotional tool that any firm or company can adopt in the marketing of its product whether in the consumer market or industrial market, is a vental promotional to instrument in the marketing of real estate particularly in the marketing of Adron Homes and properties. This has resulted into various selling positions taking by salesperson at different retail out lets for the product. These potions are either as order takers (counter salespersons) or order (missionary salespersons).
The market for this product Adron Homes and properties attracted the combinations of the marketing promotional mix which include advertising, sales promotion, personal selling, publicity and pubic relations. Of these promotional mix, personal selling strategy seems to be the most vital promotion tool that is being used taking cognizance of the products position within the product life cycle. Thus, in every retail outlets where the product brand is salespersons are seen performing various selling function either in order takers, order getters etc.
Some striking questions one needs to ask taking cognizance of other factors that may bear on the performance of a product, what impact does personal selling bear on the marketing of Adron Homes and properties, does it have any positive impact on the sales volume and profitability of the product brand?
In other to provide candid answers to these and many more. This study will critically evaluate the impact of personal selling in the marketing of Adron Homes and properties
- OBJECTIVE OF THE STUDY
The objectives of the study are;
- To determine the impact of personal selling on the marketing of Adron Homes and properties
- To evaluate the personal selling strategy adopted in the marketing of Adron Homes and properties
- To find out whether personal selling strategy adopted in the marketing of Adron Homes and properties creates awareness
- To determine whether personal selling strategy adopted in the marketing of Adron Homes and properties has any significant impact on the sales volume of the real estate
- RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
H0: there is no impact of personal selling on the marketing of Adron Homes and properties
H1: there is impact of personal selling on the marketing of Adron Homes and properties
H02: personal selling strategy adopted in the marketing of Adron Homes and properties has no any significant impact on the sales volume of the real estate
H2: personal selling strategy adopted in the marketing of Adron Homes and properties has any significant impact on the sales volume of the real estate
- SIGNIFICANCE OF THE STUDY
No research work is a mere pre-exercise, therefore the study will be of great benefit to the following:-
First and foremost, this study will be of benefit to the company (Adron Homes and properties) and marketers of real estate as it will indicate the effects and defects of using personal selling as a promotional strategy.
Again, the study will be of significance to the consumer of Adron Homes and properties as it reveals positive ways of building and cementing salesperson –customer relationship which will invariably increase customer satisfaction.
Besides, both the researcher and the readers will gain an indepth understanding and knowledge from the information contained in the study which will stir up further studies
- SCOPE AND LIMTATION OF THE STUDY
The scope of the study covers An appraisal of the impact of personal selling in promoting patronage of estate property. The researcher encounters some constrain which limited the scope of the study;
- a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
- b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
1.7 DEFINITION OF TERMS
Personal selling: A face to face sales representation by a person called the
seller to another called the buyer.
Strategy: It is a work plan aimed at achieving a defined objectives or selling target.
Brand: This is a name or symbol that differentiates a product
from another.
Product: Anything that is of value or useful and can be offered for sale.
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