Companies from across the globe often consider different options when it comes to deciding the right channel through which they present their product offerings to individual consumers, with many firms utilizing direct sales. Selling directly to potential as well as existing customers has far-reaching positive effects. First, they present businesses with the best possible opportunity to establish strong customer relationships. In essence, multiple personal interactions remain memorable and meaningful, as clients can ask pressing questions about given products. Second, direct sales allow firms to coordinate other business strategies simultaneously. For example, sales representatives can be advised to use the same presentation or language used in other marketing methods. Equally important, selling directly to customers help in cost reduction and management.
What are the two conditions that must be met if a firm is to practice market pricing successfully?
Market pricing, also known as market-based pricing strategy is a competition tool, which allows a given firm to gain the much-needed competitive edge by setting prices slighter lower or higher than its competitors. To achieve this successfully, the business organization must be well positioned to predict the reaction of individual consumers. At the same time, the firm must have some degree of monopoly power in the industry.
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What are some of the advantages of personal selling for an international firm?
International companies, which use personal selling tend to enjoy a broad range of benefits. In particular, they employ local sales representatives, who possess the much-needed capacity to understand the prevailing customs, culture, and norms. Additionally, the whole process of personal selling plays a central role in promoting and maintaining personal as well as close contact with existing and potential consumers. At the same time, it allows the participating firm to gain quick access to valuable market information.
What are the two important sets of distribution issues faced by international firms?
International companies often face a variety of distribution issues, especially cultural differences and stringent government or political regulations. For instance, Apple continues to have difficulty distributing and selling the infamous iPhone in China, with the Chinese company, Huawei, facing the same challenge in the United States (U.S.), given the ongoing trade war between the two economies. Differences in culture, including language barrier tend to play a pivotal role in hampering communication between locals and non-local sales representatives.
