Product Sales - Definition, Steps & Example
What is Product Sales?
Product sales is an act of selling a product or service in return of money or compensation or service. Product sales is when a customer buys a product / service which will fulfill a need of theirs. The number of products sold in a given time period helps in determining the product sales. It is a critical parameter in understanding the business of a company.
Steps to Increase Product Sales
There are several ways in which a company can focus on increasing the sale of its goods. Some of the measures are:
1. Set up a sales incentive program.
2. Encourage your sales staff to upsell.
3. Differentiate your customers as compared to competitors.
4. Set up a customer rewards program which helps in increasing brand loyalty.
5. Distribute free samples to customers.
Examples of Product Sales
1. Direct sales- Products which are being sold directly to the customer.
2. Door to door sales- A sales team can go to each and every potential customer and sell the products.
3. Retail- Companies sell their goods through retail chains
4. Telemarketing- Calling customers through telemarketers who upsell products
5. B2B (Business to Business)- Companies can sell their goods directly to other companies.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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