Business

The Importance of having Knowledge about Business

1. Create loyalty

The consumers have a good attitude towards a brand, whether due to the confidence, thinking and or directly to the consumer. And repeated purchases continue There is a saying that creating 1 new customer will cost 5-10 times as much as 1 old customer, and now there is a wide variety of brands. Combined with using many marketing strategies In order to attract consumers to change or always turn to use new branded products. Therefore, an important marketing strategy is Building brand loyalty (Brand Loyalty) Building brand loyalty is therefore very necessary. And causing customers to have costs to switch to other brands.

2. Build confidence

A salesperson with good knowledge about the business leads to confidence in the work. Able to sell products with confidence and confidence in your career.

3. Build morale

From the knowledge about the business that salespeople have studied and been aware of within their own company information, building good morale Will make employees proud and therefore create good sales.

4. Achieve sales success (Efficiency)

When salespeople are loyal Confidence Having morale from work will result in better sales results, resulting in the customer trust in the sales person.

Knowledge about the business that salespeople should know

1. The salesperson must study and understand the history of the business. The salesperson should have knowledge about the history of the business in the following areas:

  • Who is the founder of the business?
  • When was the business founded?
  • What products are sold by the business?
  • Which businesses carry out activities that benefit the society?
  • Where are the branches?

2. Nature of business – The salesperson must know that What kind of business does the business in which they operate? In general, there are 6 types of business undertaking

2.1 Business with one owner The business in which they operate is characterized as being a small business such as a small retail store.

2.2 Partnerships are businesses that are important to jointly invest from 2 or more. This type of business is divided into 2 types which are

  • Ordinary Partnership Is an activity in which all partners must be jointly responsible for all liabilities arising from carrying out unlimited activities
  • Limited Partnership Is a business that is registered as a juristic person There are 2 types of shareholders which are limited liability partners. And not limiting responsibility

2.3 Limited companies are businesses in which people co-founded. Then apply for registration of a juristic person There are 2 types of limited companies: private limited companies And public limited company

2.4 Cooperatives are activities that are organized by a group of individuals to create economic benefits for members without profit

2.5 State enterprises are business activities that the government owns jointly with the private sector. With the government having more than 50% of the shares, but it is a business venture that does not aim to profit

2.6 Multinational companies is an enterprise with extensive operations With branches distributed in various countries around the world

3. The nature of the organization in various activities that are organized in order to manage internal business activities The responsibilities of each department are defined.

4. Nature of business operations Each business will have different types of business operations. Which can be divided as follows:

  • Businesses responsible for production or processing
  • Businesses that procure raw materials to enter factories or production sites
  • Businesses have sell services
  • Business acts as an intermediary

Businesses that are established and are able to run their business until they have their own employees. Salespeople are able to research or find information about the business from many sources such as:

  1. Report and documents Every business must have a monthly report. Every year that is related to various matters regularly.
  2. Persons Persons who are able to provide knowledge about the business are
    2.1 Supervisors If in doubt Or want to know the story That can be searched manually The salesperson can ask or request specific advice from the Bansha commander.
    2.2 Colleagues Acquiring knowledge from that individual can happen both directly and indirectly. Questioning Or exchange ideas among colleagues
    2.3 Customers Some customers have been doing certain businesses for a long time. Which knows some information of that business well
  3. Mass media Currently, there are many business competitions. Encourage various businesses to use all types of media as tools for public relations and dissemination of business information. As a delivery to start sales. The benefits of having knowledge about the business. The benefits of having knowledge about the business Salespeople should conduct a study to have effect on salespeople as follows
  4. Build loyalty Knowledge about the business will create loyalty to the sales staff, resulting in pride in the organization itself.
  5. Build confidence Heavy sales staff with good knowledge about the business will create confidence in the work.
  6. Build morale From the knowledge about the business that employees have studied and been informed of within their own company In addition to creating loyalty and confidence for employees. Also creates good morale as well
  7. Sales success Loyal staff Confidence And have morale and morale from work Will result in better sales results. The benefits of having knowledge about the business

Categories: Business

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