Businesses have developed targeted strategies over time to satisfy customer needs, increase sales and profits, and differentiate themselves from the competition in their respective industries. One of the five marketing philosophies used by businesses to reach customers is the selling concept. The other concepts are those related to production, products, marketing, and societal marketing.
The four-letter code to selling anything | Derek Thompson | TEDxBinghamtonUniversity
Pros and cons of a selling concept
The selling concept includes tactics that make it efficient in some situations but inefficient in others:
Pros of a selling concept
Here are four primary pros realized from employing selling concepts:
Cons of a selling concept
Here are three primary cons of selling concepts:
What is a selling concept?
The selling idea was put into practice after the Great Depression, when there was a shortage of goods. When the Great Depression ended, businesses with an excess of goods needed to move their inventories, and the selling idea soon after. The selling philosophy of today assumes that the customer will purchase the product without regret or that, even if they do, their feelings won’t linger and they will purchase the product again in the future.
In contrast to the marketing concept, which aims to comprehend consumer needs, the selling concept looks for prospects and promotes the advantages of the products. While marketing strategies may emphasize creating new products, the selling strategy is predicated on the idea that these products won’t be successful without a significant sales effort.
In order to set prices and determine distribution, marketing strategies first evaluate consumer needs and conduct research and development. Selling concepts attempt to influence customers through sales techniques. A well-crafted marketing strategy makes it easier to sell the product. Marketing management employs five philosophies to sell a product:
Consider a company that sells chocolate candies to fully grasp the concept of sales. Advertising for the product emphasizes the flavor and texture of chocolate as well as the indulgence of the special treat because it has few health benefits. This persuades the consumer to buy the candy even though it is not necessary.
When selling unsought goods—items that customers don’t typically buy—or for businesses with excess inventory, sales concepts such as:
Tips and examples of selling concepts
Selling ideas emphasize a product’s advantages, typically conveyed through a relatable tale that affects the buyer’s choice. Examples of how a selling concept is created to move the product from business to consumer are provided below:
Re-imagine the details
Selling concepts evoke emotions by describing a product in a way that enables the customers to picture themselves using it, as opposed to focusing on the technical aspects of it.
*Typical ad: Available: 734 square foot apartment on 4th street.*
Move into a charming apartment near the city’s center, just a few minutes from upscale shopping, public transportation, and gorgeous art districts. *.
Emphasize function or capability
Put the emphasis on how the product benefits the customer and why they can’t live without it.
Typical advertisement: Office chair has casters for easy movement, five height settings, and wide arms for comfort.
*Selling idea: An ergonomic office chair with an alarm that prompts you to take regular breaks claims to reduce back pain by promoting better posture. *.
Explain risks of not purchasing product
Let customers know what they might miss if they don’t make the purchase, whether it’s related to health or safety.
*Typical advertisement: Contact us to talk about your insurance needs right away. *.
Talk to us to make sure your insurance supports your lifestyle, whether you’re close to home or halfway around the world. Your insurance should cover all of life’s unforeseen events. *.
Focus on performance
Show the client how the product fulfills a need they were unaware they had.
Typical advertisement: Overstock 2020 SUV model on sale, available for purchase Come in for a test drive today!.
Shop our current inventory for the upcoming summer and take on a mountain, enjoy a drive along the beach, or explore the backcountry in one of our well-liked SUVs. *.
Define how the product saves time
Describe how the product saves you time by being faster, newer, or more effective.
Advertisement standard: Begin your spring fitness regimen right away by browsing our large selection of treadmills!
Shop our extensive selection of treadmills built to enhance your workout with custom programs you can set up on the device or via the app — your workout is ready when you are! * Selling concept
Rely on status symbols
Customers are influenced by factors like product endorsements, and they may be more likely to purchase something if a person they respect or who they know uses it.
Typical advertisement: Our professional ski equipment line includes boots, poles, and bindings.
Our line of high-quality ski gear has helped the US Olympic ski team consistently win gold medals. Just in time for ski season, our 20% off sale on official skis, boots, bindings, and poles begins. *.
What are the types of selling concept?
The insurance industry is one of the most prevalent instances of a selling concept. Insurance companies invest a lot of money in marketing their products, and sales efforts are a crucial component of that. Insurance representatives and managers actively market the goods and highlight their advantages to the intended market.
What are the features of selling concept?
There are, in my opinion, four different types of selling: transactional, relational, solutional, and collaborative.