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Theory and Practice of Personal Selling Essay

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Updated: May 25th, 2020

When looking for luxury in Vegas, it does not get better than the Bellagio. With a check in time of 3.00 pm and a checkout time of 12.00 noon, clients are allowed to maximize on the time spent in their rooms. The city of Las Vegas is recognized worldwide for its beaches and casinos; hence there is guaranteed human traffic all year round.

With most Americans practicing domestic tourism, over reliance on foreign tourists is minimized considerably. This guarantees steady cash flow throughout the year (Bellagio, 2010).

Property Strengths

The hotel guarantees clients a room regardless of check in time, as long evidence of initial booking is adduced. In case of room unavailability, the management incurs the costs of providing alternative accommodation and transport until a room is available.

Delayed arrivals and departures can be resolved by booking an extra night. This allows unlimited access irrespective of the circumstance. The hotel allows for free cancellation reservations upon receipt of notification 48 to 72 hours in advance.

Failure to notify early will see the hotel bill for a night only before the subscription is terminated. A variety of credit cards is accepted provided they are genuine and valid.

Competition

Other attractions within the premise include dancing fountains, organic gardens, conservatories, pools and many more. It should be noted that the hotel faces competition other similar enterprises, like the Four Seasons Hotel, Mandarin Oriental, Panorama Tower North, Jet Luxury Resorts among many more. The Bellagio is a member of the Five Star Alliance of hotels (Expedia, 2010).

Interested Buyer

Recently, Trump International has shown interest in our property, asking Mr. Ross, one of their executive vice presidents to make enquiries. Below is an excerpt of the conversation (trump, 2010).

Me: Good morning, this is the Bellagio, how may I help you?

Mr. Ross: Good morning, I am Mr. Ross from Trump international, and I would lie to enquire

about a property, you may have on the market.

Me: Which one in particular, Sir?

Mr. Ross: The Bellagio

Me: It is a fine piece, excellent artwork, healthy financial position and positive prospects for the

future. I must admit you have picked on the right one.

Mr. Ross: Yes and I hope we will go through with the project for our mutual benefit.

Me: Concerning that, I ask that you give us some time to finalize on the specifics of the deal

before the management presents a final submission to the markets.

Mr. Ross: can you let me in on some what we should expect?

Me: I am sorry sir, but we maintain a strict confidence policy for all our transactions. Please be

patient.

Mr. Ross: Okay sir, but do not make it lengthy. I am grateful. Have a good day.

Me: Good day too Mr. Ross.

NEGOTIATION STEP

Price Objection

Me: Good morning Mr. Ross, how are you?

Mr. Ross: I am fine thank you. How are you?

Me: I am fine too, and happy that you could make time to attend this session in person, rather

than take a phone call. Thank you.

Mr. Ross: That shows how serious we are about this deal. Let us get down to business please.

Me: The preliminary cost has been set at $ 8.7 billion. We say this because the company has an

annual income of $ 1.6 after tax. This is a real catch, don’t you agree?

Mr. Ross: How urgently do you need to wrap up the sale?

Me: It should not extend beyond a month sir.

Mr. Ross: Does that imply you need the money so urgently?

Me: Yes Sir, our share holders, need their money back to pursue other investments.

Mr. Ross: I bet you are willing to negotiate the price since you are in such a hurry.

Me: No we are not.

Mr. Ross: Please give me a call when you are ready to negotiate.

Me: Okay sir please allow me to consult the board. Thank you.

Product Objection

Me: As I had said earlier, this is the only product placed on the market.

Mr. Ross: The firm has objections about acquiring that property, especially due to the market

worth.

Me: I believe both parties can reach an agreement after appropriate negotiations over the same.

Mr. Ross: That may not be necessary, because we need a similar product but one of a lesser

magnitude.

Me: Okay sir, it was nice talking to you.

Lack of Interest

Mr. Ross: Have you placed any other property in the market save for the Bellagio?

Me: No sir, none at the moment.

Mr. Ross: I apologize, but our hospitality portfolio is currently overstretched.

Me: Thank you.

COMMITMENT FOR SALE

Trial Close

Me: Are you fond of the property?

Mr. Ross: Very much sir.

Me: Do you agree that it would be good for your portfolio?

Mr. Ross: Once again, I agree with you sir.

Me: Can I count on you to recommend this deal to your superiors back in the office?

Mr. Ross: Yes sir, I will try my best.

THANK YOU LETTER

3600 Las Vegas Blvd. South

Las Vegas, NV 89109

Toll Free: 888-987-6667

The Trump Organization

(Company)

725 5th Avenue

New York

NY 10022

USA

Phone: (212) 832-2000

Fax: (212) 935-0141

Dear Sir,

RE: SALE OF THE BELLAGIO

On behalf of the board of directors and share holders, I would like to express my gratitude for the opportunity to work with you. The sale was a success, and I believe both parties were satisfied at the end of the day. We desire prosperity in your endeavors and success in your new business venture.

Yours sincerely,

Jack Shepherd

Sales Manager, Bellagio Hotel.

References

Bellagio. (2010). Bellagio Las Vegas. bellagio.com. Web.

Expedia. (2010). . Web.

Trump. (2010). Trump Organization. Web.

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