Page 27 - The Insurance Times May 2021

students acquiring it in a way buying it, as they need the Different people have different need for products. Some
knowledge. Again some sort of fees too exists unless it's a make quick decisions to buy and others take time to decide.
free service. Whereas some keeps probing, while some depends on other
person's advice.
All such transactions are in a way is a sales transaction.
Captive buyers may not have too many choice while there
Because there are two parties involved, one who has need
might be some who does impulsive buying.
for something so called product and the other who fulfills
that need by providing that product, called provider or Some buy with anticipation of future use while they may not
seller. have immediate need.

But in all such transactions another thing is also there, that Advertisement of products also makes an impact on buyer's
is, the price, the cost, the fee, the charges whatever you decision.
call it, in lieu of it the transaction is being done.
There is always a great desire in every salesperson that his
product sells easily, comfortably and with minimum effort.
So, you see, it is sales and selling is going on everywhere
and at every moment. And to be more precise here, it would But to fulfill one's desire a great amount of discipline is
not be wrong to say that, the entire human world is required along with knowledge and skills. Then there is also
continuously revolving around two factors only. One factor the attitude factor.
being the "Needs or Wants" in life and the other factor
Like in most achievements, attitude towards sales profession
being the "Fulfilment of it".
plays an important role in success of a sales person. One
should also have a social nature. One must be willing and
And in that context, sales profession is the largest profession
enjoy to interact with people. An introvert nature does not
in the world.
match the required quality for a sales job.
However, here in this article, we are concerned with only Knowledge of local language and culture is beneficial and
that kind of transaction which generally we call as sales, an advantage. Sense of humor also helps the interactions
whereby a sales person tries to sell his products to his between a salesperson and his prospect. One should also
prospects successfully. become adept in objection handling ability. Every sales

interactions is different, new and unique, and that is because
There are various aspects of sales that exists around all three the prospect is new, though the sales person is same, the
participants in the transaction, vis a vis, the buyer, the seller
product is same, the selling process is same.
and the product.
Now about the product, a product is developed based on
There are various kinds of selling transactions we can see market demand. Lots of researches and studies are made
around us. Such as, in the market to understand what kind of product would be
Y Mass selling where footfalls are high as in exhibitions a success among potential buyers.
or seminar, year-end season's sale, discount sale,
internet, auctions, malls etc.

Y One to one or individual as in insurance, mutual funds,
shares, etc., where seller approaches potential buyers.
Y Over the counter as in shops, where customers walk in
by themselves.
Y Hawkers and peddlers.
Y Selling to captive buyers, as in trains, planes, platforms,
airport, stadium, hospitals, etc.

We need to understand the buyer's psychology in such
different kind of selling situations as given above.

The Insurance Times, May 2021 27