At the beginning of this chapter, you were given an introduction to Marcus Smith, who is employed by Liberty Mutual, a successful insurance company. Smith is responsible for introducing a very large number of products and services and he must always keep one eye on the competition. He must be prepared to answer questions about his own products and services and those of the competition. He must also be prepared to discuss the intricacies of the insurance terms and possible bundles of insurance policies in order to offer his customers the best value.
Like every other professional salesperson, Smith is constantly involved in learning. We now know that the principles of selling can be learned and applied by people whose personal characteristics are quite different.
Most successful salespeople spend considerable time acquiring product knowledge, keeping up to date in their industry and related industries, and learning more about their customers. Smith acquired his formal training in professional selling from the Program in Excellence in Selling while he attended university. In the insurance industry, salespeople often go through industry-related training and a formal exam to acquire a license to sell personal and property insurance. Smith also undergoes Liberty Mutual’s rigorous training program, which provides courses in four concentrations:
products and services, company, competition, and quoting.
Smith realizes the importance of a relationship strategy that is built on a win-win philosophy. In addition to building a strong relationship with the customer, he must be able to work effectively with others who directly or indirectly influence the sale. He shares market information with his peers periodically because a broad view of the market as a whole is crucial in the highly competitive insurance industry. The salesperson who is honest, accountable, and sincerely concerned about the customer’s welfare brings added value to the sales.
Questions
1. Does it appear that Smith has adopted the three prescriptions of a personal selling philosophy? (See Strategic/Consultative Selling Model.) Explain.
2. What prescriptions of the relationship strategy (see Strategic/Consultative Selling Model) have been adopted by Marcus Smith? Describe why a relationship strategy is especially important in personal selling.
3. Value-added selling is defined as a series of creative improvements in the sales process that enhance the customer’s experience. Describe the various ways in which Marcus Smith can create value for his customers.
4. Why would it be important for the marketing support personnel (marketing research, product management, marketing communications, etc.) employed by Liberty Mutual to understand personal selling?
Can you describe any marketing support people who would benefit from the acquisition of personal selling skills?