• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Marketing management ii
 

Marketing management ii

on

  • 336 views

Marketing management ii - Unitedworld School of Business

Marketing management ii - Unitedworld School of Business

Statistics

Views

Total Views
336
Views on SlideShare
336
Embed Views
0

Actions

Likes
0
Downloads
3
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Marketing management ii  Marketing management ii Presentation Transcript

    • Pricing and Promotions, IMC, Personnel selling, and sales management, theories of selling, sales force automation
    • “A price is not merely a function of costs and margins...it is an expression of value.”
    • • Product Features • Channel decisions • Promotion
    •  Develop marketing strategy.  Make market-mix decisions.  Estimate the demand curve.  Calculate cost.  Understand environmental factors.  Set pricing objectives.  Determine pricing.
    •  Personal selling  Mass selling  Advertising  Publicity  Sales promotion.
    •  Personal selling- Is direct communication between seller and buyer.  Mass selling- Is non-personal selling.  Advertising- Is a form of mass-selling.  Publicity- Is an information that concerns a person, group, event, or product and that is disseminated through various media to attract public notice.  Sales promotion- Is one of the seven aspects of the promotional mix.
    •  According to American Marketing Association IMC or Integrated Marketing Communication is “A planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time.”
    • Five major shifts in the worlds of advertising, marketing and media have caused an increased interest in (and need for) IMC. These include: Shift From... To… Traditional Advertising Digital/Interactive Media Mass Media Specialized Media Low Agency Accountability High Agency Accountability Traditional Compensation Performance-Based Compensation Limited Internet Access Widespread Internet Availability
    •  ‘Personal selling’ is the most widely used means by which organizations communicate with their customers.  It involves oral conversations, either by telephone or face-to-face, between salespersons and prospective customers.
    •  Person-to-person conversation.  Between prospective buyer and the seller. So, it involves in developing relationships between the buyer and seller.  Direct human contacts.  Matching products to needs.  Results in discovering and communicating customer needs and thus able to understand and solve buyer’s problem.
    •  Initial contact.  Establish rapport - Use of verbal and non verbal communication.  Make a good impression.  Problem solver for prospective buyers - Tell the product story.  Collect information.  Use of appropriate sales aids (computers, videos, brochures, etc).  Know when to close after narrowing the alternatives.
    • ‘Sales Management’ is the marketing management activity dealing with planning, organizing, directing, and controlling the personal selling effort. This includes recruiting, training, supervision, motivation, evaluation, and compensation of sales personnel.
    • Planning Setting sales objectives. Organizing 1. Organizing sales activities. 2. Recruiting and selection. Directing 1. Training and development. 2. Motivation & compensation. Control Evaluating and controlling.
    •  Kick-backs, bribes and gifts.  Price discrimination.  Cheating on expense accounts.  Misrepresentation.
    •  AIDAS  “Right set of circumstances”  “Buying Formula”  “Behavioral Equation”
    •  A-Securing attention.  I-Gaining Interest.  D-Kindling desire.  A-Inducing Action.  S-Building Satisfaction.
    •  Theory can be summarized as “Every thing was right”.  This theory is also known as “Situation- response” theory.  A sales person needs to be well skilled to handle the set of circumstances.
    • The name “buying formula” has been given by the late E.K. Strong.  It is a step-by-step explanation of the buyer’s needs.  Reduced to its simplest form, the mental processes involved in a purchase are need solution purchase
    • Need(or problem) solution purchase satisfaction
    • need product and/or service and trade name purchase satisfaction/dissatisfaction
    • adequacy pleasant feelings need product and/or service and trade name purchase satisfaction/dissatisfaction
    • Using a stimulus response model and incorporating findings from behavioral research, J.A. Howard explains buying behavior in terms of the purchasing decision process, viewed as phases of the learning process. Four essential elements of the learning process included in the stimulus-response model are: 1. DRIVES: a) INNATE DRIVES b) LEARNED DRIVES
    • 2. CUES: a) PRODUCT CUES b) INFORMATIONAL CUES 3. RESPONSE 4. REINFORCEMENT
    • Sales Force Automation is an important customer relationship management function that enhances the operations of the sales team. It focus on cultivating customer relationships and Improving customer satisfaction.
    • Sales Process ◦ Customized to the company’s specific sales policies and procedures, known as sales process management ◦ Include a sequence of sales activities that can guide reps through each discrete step in the sales process ◦ Sales process tools are not sophisticated
    • ◦ Offer calendars to assist in planning of key customer events ◦ Automates both individual and organizational to- do list ◦ Provides valuable post factor analysis of a sales cycle; which allows the team to examine the duration and procedures involved in critical tasks ◦ Sales process and activity management are only as good as their ability to be tailored to intervals sales methods
    •  Sales managers oversee tens or hundreds of sales teams and cannot stay abreast of every active sales initiative  Sales management tools can enable them to manage this large task ◦ Offering data and reporting options to provide on-demand access to sales activities ◦ Teams can be linked to headquarters specialists ◦ Sales managers can track territory assignments and monitor pipelines and leads for individual territories ◦ Limits on territories
    • ◦ Subset of sales force automation that deals with organizing and managing data across and within a company’s client and prospect organization ◦ Software can contain various modules for maintaining local client databases, displaying updated organization charts, and allowing salespeople to maintain notes on specific clients or prospects  Can answer specific questions quickly  Enable salespeople to communicate their schedules to the organization at large ◦ Real value of CM is in its capability to track where customers are and who they are in terms of their influence with sales management functions
    • Also known as “opportunity management” and “pipeline management” ◦ Aims to provide foolproof sales strategies so no sales task, document, or communication falls through the cracks Sales people follow a defined approach to turning opportunities into deals  Tools: ◦ can provide qualified leads through marketing campaigns or lead referrals ◦ can also track other prospect attributes ◦ These capabilities can result in answers to questions that previously demanded guesswork
    •  Tools: ◦ Allow a salesperson to input client and prospect information into an easy-to-use tool ◦ CRM products have evolved to leverage this information by providing product-specific configuration support to companies who must build products for their customers ◦ Often use graphical sales process (Figure 4-2) Page 82 ◦ Order stage is reached, the tool can calculate a product configuration and price quote automatically ◦ Can then provide forms that facilitate electronic communication of the information to other areas of the company
    •  The more information the better ◦ Surplus of information ◦ To effectively use this information salespeople need easy access to it  Intranets are a solution ◦ KM are systems that can locate and store this information and provide users with a single application. ◦ Geographical boundaries are now non-existent
    • 907/A Uvarshad, Gandhinagar Highway, Ahmedabad – 382422. Ahmedabad Kolkata Infinity Benchmark, 10th Floor, Plot G1, Block EP & GP, Sector V, Salt-Lake, Kolkata – 700091. Mumbai Goldline Business Centre Linkway Estate, Next to Chincholi Fire Brigade, Malad (West), Mumbai – 400 064.
    • THANK YOU