The paper "Selling and Sales Management" is a good example of a literature review on marketing. Personal sales and making personal presentations are the most expensive and most important for a company’ s sales and profits (Robert & Ralph 1993). They require each person to be involved and trained on the company’ s products as well as presentation skills. Any sales strategy must listen to and address the needs of the customer so that they can sell. It is no longer successful to sell through being pushy or making grandiose claims (Robert& Ralph1993). While talent and personality can be important factors making sales, they are not enough; selling requires a full understanding of a company’ s products, services and how they can meet the needs of clients and customers. The task of selling is not an easy one.
It becomes even harder as customers become more knowledgeable and informed and during decision making in buying decisions that require interaction at various levels of the buying process. According to Robert & Ralph (2008), a successful salesperson combines innate ability and acquired skills as customers appreciate a salesperson that is reliable, knowledgeable of the product and service as well as a credible salesperson.
It is imperative for a salesperson to know that they are a personification of the company and they carry the company’ s image. Salespersons use different tactics to sell their products. Some use the traditional hard sale tactics that often involves placing pressure on the customer to purchase a product through relentless convincing while some use the soft sale tactics that are guided by the philosophy of knowing the needs of the customers and satisfying them. Hard sale tactics have been used widely in boiler room scams.
Boiler rooms describe the exploits of a pump-and-dump operation. Gabriel (2004, p. 6) described pump-and-dump as the practice of buying low-priced shares of usually illegitimate companies. Salespeople then go ahead and apply high-pressure sales tactics to unload these worthless stocks on retire folks in Florida and farmers in Iowa (Gabriel 2004). As the shares price begins to go up, the unscrupulous broker then dumps the shares with higher prices to unsuspecting buyers. Boiler rooms are busy centers of activity usually selling questionable goods (Fater 2010).
Fater (2010 p. 158) describes boiler rooms as a room where salespeople work using unfair, dishonest sales tactics sometimes selling penny stocks or committing outright stock fraud. The term carries a negative connotation and is used to imply high-pressure sales tactics (Fater 2010). The unscrupulous brokers use telemarketing operations usually broker firms that are legally licensed only that they exist on the wrong side of the business ethics divide. In Canada, a 1937 article entitled “ swindlers on the rampage” ; on the financial post cited “ some of the high-pressure selling was being conducted from Toronto” and they capitalized on the mining industry boom.