Marketing = ? Marketing is the sum of all activities that take you to a sales outlet. After that salestakes over. Marketing is all about creating a pull, sales is all about push. Marketing is all about managing the four P’s – product price place promotion
The 4 Ps & 4CsMarketingMixProductPrice PromotionPlaceCustomerSolutionCustomerCostCommunicationConvenience
Difference between Marketing & Sales1. trying to get the company producewhat the customer wants2. Marketing is much wider & dynamicthan sales3. Marketing revolves around needs &interest of buyer4. Marketing is outside-in perspective5. Marketing creates PULL6. Marketing involves a set of activities7. Marketing is a process1. trying to get the customer towant what the companyproduces2. Sales is a narrow concept3. Sales revolves around needs &interest of seller4. Selling is an inside-outperspective5. Selling is a PUSH6. Sales is a part of marketingprocess7. Sales is the result of marketing
• You cannot do without either process• Business growth is possible by strategicallycombining both efforts
Types of Selling1. The Instant BuddySalespeople who use this approach are warmand friendly, asking questions and showinginterest in their prospects.They try to connect on an emotional levelwith a prospective customer.http://www.enotesmba.blogspot.com
Types of Selling2. The Guru• They are more logical and less emotional.• They position themselves as problem-solvers, able to answer any question andtackle any issue that the prospect lays beforethem.• The guru approach requires plenty of worklearning the relevant information and keepingup with changes in your industry.http://www.enotesmba.blogspot.com
Types of Selling3. The Consultant• This approach combines the guru and buddyapproaches.• It requires a great deal of time and effort on asalespersons part.• You must be both knowledgeable and able tomake an emotional connection with yourprospects.• If you can manage both of these feats, your saleswill take off like a rocket.http://www.enotesmba.blogspot.com
Types of Selling4. The Networker• The dedicated networker maintains a web offriends, co-workers, salespeople from othercompanies, customers and formercustomers, and anyone else he meets.• A strong enough network will create anongoing flow of warm leads that can providemost or even all of the salespersons needs.http://www.enotesmba.blogspot.com
Types of Selling5. The Hard SellerHard selling involves getting someone to buy aproduct even though he doesnt want or need it.No ethical salesperson should use a hard sellapproach. The result is customer who never buy againand, sooner or later, a bad reputation for thecompany as a whole.Stick with one or more of the first four approaches– they are all both effective and ethical.http://www.enotesmba.blogspot.com
Buyer Expectations1. Customers Expect Solid Information.Providing your customers with tangible information lets them know that youvalue them and respect their ability to make sound decisions.When they feel that theyre respected, theyre more open and willing to do morebusiness with your company.2. Customers Expect Options.Customers dont want to be told that theres only one way or one solution.Theyll respond positively when theyre given options.Options are essential because they create dialogue and discussion. Opendialogue can lead to more sales.
Buyer Expectations3. Customers Expect Single Source Service.Customers dont want to be transferred to every unit of your business to havetheir problems solved.This means taking ownership of your customers requests, problem, etc., andensuring that their needs are met to their satisfaction.4. Customers Expect Superior Communication.If you tell them that you will call them back at a certain time, make sure thatyou do.Your responsiveness will create a bond of trust, and acommunication comfort level.
Buyer Expectations5. Customers Expect Consulting.You must take the time to ask pertinent questions .This will demonstrate your ability and knowledge as well as your intent to spend thenecessary time with them to meet their specific needs.6. Customers Expect A Seamless Relationship.The best businesses are those that believe in going the extramile for their customers.Building a relationship with your customers built on mutual trust and respect takes timeand effort, but remember retention is the best method of building profit.
Meeting these expectations will cementyour relationships, increase customersatisfaction, and retain them inbusiness.
Automobile Repair• Be Competent• Explain Things• Be respectful• Fix it Right the First Time• Explain why the suggestedrepairs are required• Don’t treat me as a dumbfemale
Automobile Insurance• Keep me informed• Be on my side• Keep the promise• Provide prompt service I shouldn’t have to learn aboutinsurance law changes fromthe newspaper I don’t want them to treat melike a criminal just because I’vea claim Protect me from Catastrophe I want fast settlement of myclaims
Hotel• Provide a clean room• Provide a secure room• Keep the Promise• Be Flexible• Clean & Hygienic• Good bolt & peephole onthe door• Prompt service• In case I need extra services
Customer Loyalty Vs. SatisfactionCustomerExpectationsNot meetingexpectationsMeetingexpectationsExceedingexpectationCustomerSatisfactionDissatisfactionSatisfaction, but“taken for granted”Enthusiasm &SurpriseCustomerLoyaltyDefectionVariety SeekingCustomer Loyalty