Personal sales success factors in a wealthy market environment

Michael Stros; David ?íha; Elena ?íhová; Lynn L.K. Lim

doi:10.15549/jeecar.v6i1.270

Authors

Michael Stros University of Applied Sciences and Arts of Southern Switzerland (SUPSI)
David ?íha Prague University of Economics
Elena ?íhová Skoda Auto University
Lynn L.K. Lim University of Applied Sciences and Arts Northwestern Switzerland

DOI:

https://doi.org/10.15549/jeecar.v6i1.270

Keywords:

Personal Sales, Sales Factors, Sales Techniques, Sales Strategies, Market Environment

Abstract

This study aimed to determine the success factors in personal sales in a wealthy market environment. For this purpose, a quasi-experimental design was formulated and the Swiss automotive market was selected. This market has some peculiarities in comparison to other markets, such as generally wealthy customers who demand fuel-efficient cars with significant horse power in the higher price range. Videos of personal sales conversations were produced and shown to the study participants for evaluation. The sales took place in the automotive sector, but the results can be transferred to other sectors. The theoretical concept of personal sales is introduced, sales theories, techniques and strategies are discussed. The different types of communication are introduced and explained. As a result, a factor analysis is conducted in order to interpret the results. The paper provides then conclusions by discussing and construing the results. Theoretical and managerial contributions and possible limitations are derived.

Author Biographies

Michael Stros, University of Applied Sciences and Arts of Southern Switzerland (SUPSI)

Michael is head of the marketing group and teaches University of Applied Sciences and Arts of Southern Switzerland (SUPSI), Fernfachhochschule Schweiz, Brig, Switzerland. His main research interests focus on Pharmaceutical Marketing and Personal Sales. Besides of his academic activities, Michael is a Marketing Consultant and Sales Trainer. In his previous professional activities, Michael was engaged as a Product and Sales Manager for International Biotech Companies.

David ?íha, Prague University of Economics

David is an Assistant Professor at the Department of Marketing of the Faculty of Business Administration at the University of Economics, Prague and from 2013 also at the University of Applied Sciences Upper Austria School of Management / Steyr. Education at the University of Economics, College of Business and Management Faculty of Escuela Superior de Marketing y Administración Barcelona supported within the study internships in Finland, Mexico, Austria and the UK. Practical experience in sales and marketing gained on managerial positions in national and international companies and through consulting activities.

Elena ?íhová, Skoda Auto University

Elena is an assistant of professor at Skoda Auto University. She received the Ph.D. degree from the University of Economics in Prague, Czech Republic, in 2016. She is currently with the Czech Technical University and Skoda Auto University. Her main research is focused on Fuzzy Clustering and Factor Analysis. Her research interests also include others multivariate statistical methods

Lynn L.K. Lim, University of Applied Sciences and Arts Northwestern Switzerland

Lynn Lim is a Professor of Global Consumer Research and the Programme Head for Master of Science (MSc) in International Management at the School of Business, University of Applied Sciences and Arts Northwestern Switzerland (FHNW).

References

Allhoff, D.-W. and Allhoff, W. (2014). Rhetorik & Kommunikation – ein Lehr- und Übungsbuch, 16. Auflage, Ernst Reinhardt Verlag, Munich.

Ambady, N. and Rosenthal, R. (1993). Half a minute: predicting teacher evaluations from thin slices of nonverbal behaviour and physical attractiveness, Journal of Personality and Social Psychology, 64, 3, 431-441.

Ambady, N., Krabbenhoft, M. and Hogan, D. (2006). The 30-sec sale: using thin-slice judgments to evaluate sales effectiveness, Journal of Consumer Psychology, 16, 1, 4-13.

Barrett-Lennard, G.T. (1998). Carl Rogers’ Helping System: Journey and Substance, Sage, London.

Bartlett, M.S. (1950). Tests of significance in factor analysis, British Journal of Psychology, 3 (Part II), 77-85.

Bauer, J. (2005). Warum ich fühle, was du fühlst: intuitive Kommunikation und das Geheimnis der Spiegelneurone, Hoffmann und Campe, Hamburg.

Bortz, J. and Doering, N. (2006). Forschungsmethoden und Evaluation, 4, Springer, Heidelberg.

Cattell, R.B. (1966). The scree test for the number of factors, Multivariate Behavioural Research, 1, 2, 245-276.

Child, D. (1990). The Essentials of Factor Analysis, Second Edition, Cassel Educational Limited, London.

Churchill, G., Ford, N., Hartley, S. and Walker, O. (1985). The determinants of salesperson performance, a meta-analysis, Journal of Marketing Research.

Costello, A.B. and Osborne, J.W. (2005). Best practices in exploratory factor analysis: four recommendations for getting the most from your analysis, Practical Assessment, Research and Evaluation, 10, 7, 1-9.

Dratch, D. (2018). 7 tactics car salesmen hope you don’t know, Bankrate, London, February (www.bankrate.com/loans/auto-loans/7-secret-tactics-that-car-salesmen-hope-you-dont-know/).

Ehrenberg, A.S.C. (1968). On methods: the factor analytic search for program types, Journal of Advertising Research, 8, March, 55-63.

Ehrenberg, A.S.C. and Goodhart, G.J. (1976). Factor Analysis: Limitations and Alternatives, Marketing Science Institute Working Paper No. 76-116, Marketing Science Institute, Cambridge, MA.

Fischer, G.H. (1982). Interaktionsstrategie im Absatzmarketing – Grundlagen und Anwendungen, Deutscher Betriebswirte-Verlag, Gernsbach.

Foscht T., Swoboda B. and Schramm-Klein H. (2015). Käuferverhalten, 5. Auflage, Springer Verlag, Berlin.

Freud, S. (1938). Abriss der Psychoanalyse. Fischer, Frankfurt.

Hair J., Anderson, R.E., Tatham, R.L. and Black, W.C. (1995). Multivariate Data Analysis, Fourth Edition, Prentice-Hall Inc., Upper Saddle River, NJ.

Henson, R.K. and Roberts, J.K. (2006). Use of exploratory factor analysis in published research: common errors and some comment on improved practice, Educational and Psychological Measurement, 66, 393-416.

Homburg, C., Schäfer, H. and Schneider, J. (2012). Sales Excellence – Systematic Sales Management, Springer, Berlin.

Horn, J.L. (1965). A rationale and test for the number of factors in factor analysis, Psychometrika, 30, 2, 179-85.

Jöreskog, K.G. (1969). A general approach to confirmatory maximum likelihood factor analysis, Psychometrika, 23, 187-200.

Kaiser, H.F. (1970). A second-generation little jiffy, Psychometrika, 35, 4, 401-15.

Kaiser, H.F. and Mark, I.V. (1974). Little jiffy, Educational and Psychological Measurement, 34, 111-117, 20.

Kieffer, K.M. (1999). An introductory primer on the appropriate use of exploratory and confirmatory factor analysis, Research in Schools, 6, 2, 75-92.

Kirchgeorg, M. and Wübbenhorst, K. (2013). Marktforschung, Springer Gabler Verlag, Wiesbaden.

Kiwus D. (2016). Mehr Verkaufserfolg durch Selbstcoaching, 5. Auflage, Springer Gabler Verlag, Wiesbaden.

Kromney, H. (2006). Empirische Sozialforschung, 11. Auflage, UTB Verlag, Stuttgart.

Kruglanski, A.W. and Van Lange, P.A.M. (2012). Handbook of Theories of Social Psychology, Sage, London, 224-245.

Kuß, A., Wildner, R. and Kreis, H. (2014). Marktforschung Grundlagen der Datenerhebung und Datenanalyse, 5. Auflage, Springer Gabler Verlag, Wiesbaden.

Mehrabian, A. (1972). Nonverbal Communication, Aldine-Atherton, Chicago, IL.

Meloun, M. and Militký, J. (2006). Kompendium statistického zpracování dat: metody a ?ešené úlohy, Academia, Prague.

Pett, M., Lackey, N. and Sullivan, J. (2003). Making Sense of Factor Analysis, Sage Publications, Inc., Thousand Oaks, CA.

Petty, R. (1986). Communication and Persuasion: Central and Peripheral Routes to Attitude Change, Springer-Verlag, New York, NY.

Petty, R.E., Rucker, D.D., Blizer, G.Y. and Cacioppo, J.T. (2004). The elaboration likelihood model of persuasion. In Seiter, J.S. and Gass, R.H. (eds.), Perspectives on Persuasion, Social Influence, and Compliance Gaining, 65-89, Pearson, Boston, MA.

Pufahl, M. (2015). Sales Performance Management – Exzellenz im Vertrieb mit ganzheitlichen Steuerungskonzepten, Springer Gabler, Düsseldorf.

Schuckel, M. (1999). Bedienungsqualität im Einzelhandel, Kohlhammer Verlag, Stuttgart.

Solomon, M.R., Bamossy, G. and Askegaard, S. (2003). Konsumentenverhalten – Der europäische Markt, Pearson Verlag, Frankfurt am Main.

Springer Fachmedien Wiesbaden (2013). Wirtschaftslexikon Gabler, Auflage 18, Verlag Springer Gabler, Wiesbaden.

St. Elmo Lewis, E. (1903). Catch-line and argument, The Book-Keeper, 15, February, 124.

Stewart, David W. (1981). The application and misapplication of factor analysis in marketing research, Journal of Marketing Research, 18, 1, 51-62.

Stewart, D.W. (1981). The application and misapplication of factor analysis in marketing research, Journal of Marketing Research, 18, 1, February, 51-62.

Stewart, E.C. and Bennett, M.J. (1991). American Cultural Patterns: A Cross-cultural Perspective, Intercultural Press, Yarmouth, ME.

Swisher, L.L., Beckstead, J.W. and Bebeau, M.J. (2004). Factor analysis as a tool for survey analysis using a professional role orientation inventory as an example, Physical Therapy, 84, 9, 784-799.

Thompson B. and Daniel, L.G. (1996). Factor analytic evidence for the construct validity of scores: a historical overview and some guidelines, Educational and Psychological Measurement, 56, 2, 197-208.

Wage, J.L. (1991). Psychologie und Technik des Verkaufsgesprächs, 11. Auflage, Verlag moderne Industrie, Landsberg am Lech.

Weber, S. (2017). Consumers’ preferences in the Swiss car market, IRENE Working Paper 16-12, September, Institute of Economic Research, University of Neuchatel.

Weinberg, P. (1986). Nonverbale Marktkommunikation, Physica-Verlag, Heidelberg.

Weis, H.C. (1994). Verkaufsgesprächsführung, 2. überarbeitete und erweiterte Auflage, Neue Wirtschafts-Briefe Verlag, Ludwigshafen.

Wood, A.M., Linley, P.A., Maltby, J., Baliousis, M. and Joseph, S. (2008). The authentic personality: a theoretical and empirical conceptualization and the development of the authenticity scale, Journal of Counseling Psychology, 55, 3, 385-399.