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The document summarizes key aspects of the selling process as presented in Chapter 3 of the textbook "Sales and Distribution Management, 2e". It outlines the typical stages in the selling process from prospecting potential customers to closing the sale. It also provides details on methods for prospecting, presenting sales, handling objections, and closing sales. Graphs and lists illustrate processes like qualifying prospects and different prospecting and objection handling techniques.
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This document discusses sales territory management and is from a chapter in the book "Sales and Distribution Management, 2e". It defines a sales territory, outlines advantages of designing sales territories, and factors that influence modifying territories. It also describes methods for designing sales territories, including selecting geographic control units, criteria for allocation, starting points, and combining units. Territory shapes and a strategic planning matrix for allocating resources to accounts are also covered. The chapter concludes with discussing new territories and using information technology to aid in sales territory management.
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This document summarizes key topics from Chapter 1 of the book "Sales and Distribution Management, 2e" including: the evolution of personal selling from persuasion to partnership strategies; the five marketing concepts with a focus on the societal marketing concept; the nature and role of sales management; different types of personal selling such as industrial, retail, and services selling; and emerging trends in sales management like increasing customer orientation and relationship selling.
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This chapter discusses sales quotas, which are performance objectives or sales goals assigned to sales units like departments or individuals over a specific period. A sales quota aims to define and stimulate sales efforts. Setting quotas well is challenging and requires objectivity, understandability, flexibility, and definiteness. Quotas should also be based on facts and figures from the market. Participatory quota setting with salespeople can aid motivation. The chapter outlines principles of quota setting, types of quotas, methods of determining quotas, and potential problems in the process.
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This document discusses sales force automation and control. It defines sales force automation as a business management tool that automates the entire sales cycle from lead generation to close. The chapter describes the benefits of sales force automation like reduced costs and increased profitability. It also outlines the objectives and types of CRM and SFA applications like lead management, contact management, and sales territory management. Mobile sales force automation and its functionality are also covered. The chapter concludes that successful sales force automation depends on systematically implementing the sales process.
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This chapter discusses factors that influence the design of sales force compensation plans such as financial stability, market size, and product nature. It describes different types of compensation plans including financial plans like straight salary, commission, bonuses, and combination plans as well as non-financial plans involving promotions, benefits, and contests. The chapter outlines steps to design a compensation plan such as determining objectives, issues, relating rewards to performance, and appraising the plan.
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This chapter discusses the recruitment and selection process for sales forces. It begins by outlining the roles and responsibilities of sales managers in recruiting, selecting, training, motivating and compensating sales teams. The chapter then details the steps in the hiring process, including planning, recruitment from internal and external sources, selection through evaluating candidates and making offers, and socializing new hires. Challenges in sales force selection like assessing personality fits and motivation levels are also covered.
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This chapter discusses various aspects of sales organization including defining a sales organization, factors that influence organizational structure, principles of organizational design, and different models for structuring a sales organization. It addresses considerations for designing sales organizations based on territories, management functions, products, customers, and emerging designs like key account sales and shared sales forces. The chapter also covers determining the appropriate number of salespeople needed.
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This document outlines a marketing roadmap and strategies for an Indian pharmaceutical company. It discusses moving from price-based and service-based selling models to a value-based model focused on customer needs. The key strategies proposed include properly segmenting and targeting customer groups, developing differentiated brand positioning, improving in-clinic discussions between field staff and customers, and optimizing brand availability and loyalty through consistent communication of value. Adopting this approach could help address gaps in the existing selling model like frequent brand replacement, stagnant growth, and low profitability.
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This document discusses sales territory management and is from a chapter in the book "Sales and Distribution Management, 2e". It defines a sales territory, outlines advantages of designing sales territories, and factors that influence modifying territories. It also describes methods for designing sales territories, including selecting geographic control units, criteria for allocation, starting points, and combining units. Territory shapes and a strategic planning matrix for allocating resources to accounts are also covered. The chapter concludes with discussing new territories and using information technology to aid in sales territory management.
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This document summarizes key topics from Chapter 1 of the book "Sales and Distribution Management, 2e" including: the evolution of personal selling from persuasion to partnership strategies; the five marketing concepts with a focus on the societal marketing concept; the nature and role of sales management; different types of personal selling such as industrial, retail, and services selling; and emerging trends in sales management like increasing customer orientation and relationship selling.
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This chapter discusses sales quotas, which are performance objectives or sales goals assigned to sales units like departments or individuals over a specific period. A sales quota aims to define and stimulate sales efforts. Setting quotas well is challenging and requires objectivity, understandability, flexibility, and definiteness. Quotas should also be based on facts and figures from the market. Participatory quota setting with salespeople can aid motivation. The chapter outlines principles of quota setting, types of quotas, methods of determining quotas, and potential problems in the process.
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This document discusses sales force automation and control. It defines sales force automation as a business management tool that automates the entire sales cycle from lead generation to close. The chapter describes the benefits of sales force automation like reduced costs and increased profitability. It also outlines the objectives and types of CRM and SFA applications like lead management, contact management, and sales territory management. Mobile sales force automation and its functionality are also covered. The chapter concludes that successful sales force automation depends on systematically implementing the sales process.
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This chapter discusses factors that influence the design of sales force compensation plans such as financial stability, market size, and product nature. It describes different types of compensation plans including financial plans like straight salary, commission, bonuses, and combination plans as well as non-financial plans involving promotions, benefits, and contests. The chapter outlines steps to design a compensation plan such as determining objectives, issues, relating rewards to performance, and appraising the plan.
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This chapter discusses the recruitment and selection process for sales forces. It begins by outlining the roles and responsibilities of sales managers in recruiting, selecting, training, motivating and compensating sales teams. The chapter then details the steps in the hiring process, including planning, recruitment from internal and external sources, selection through evaluating candidates and making offers, and socializing new hires. Challenges in sales force selection like assessing personality fits and motivation levels are also covered.
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This chapter discusses various aspects of sales organization including defining a sales organization, factors that influence organizational structure, principles of organizational design, and different models for structuring a sales organization. It addresses considerations for designing sales organizations based on territories, management functions, products, customers, and emerging designs like key account sales and shared sales forces. The chapter also covers determining the appropriate number of salespeople needed.
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This document outlines a marketing roadmap and strategies for an Indian pharmaceutical company. It discusses moving from price-based and service-based selling models to a value-based model focused on customer needs. The key strategies proposed include properly segmenting and targeting customer groups, developing differentiated brand positioning, improving in-clinic discussions between field staff and customers, and optimizing brand availability and loyalty through consistent communication of value. Adopting this approach could help address gaps in the existing selling model like frequent brand replacement, stagnant growth, and low profitability.
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Rather than a complicated 50 slide presentation on the firm’s marketing strategy, a simple marketing doctrine of 5-7 principles (on one slide) frequently provides sufficient guidance and “guard rails” for marketers in the field to develop their go-to-market plans.7
This document discusses sales territory management from a chapter in the textbook "Sales and Distribution Management, 2e". It defines a sales territory, outlines advantages of designing sales territories, and describes factors to consider when designing sales territories such as geographic units, allocation criteria, and modifying boundaries. It also discusses territory shapes, a strategic planning matrix for allocating resources, and the potential use of information technology in managing sales territories.
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The document discusses procedures for selecting sales personnel, including inviting applications, interviews, reference checks, examinations, and tests. It covers determining compensation and benefits, issuing offer letters, and providing an initial orientation. Sales training selection includes defining objectives, determining content, and choosing methods. Training content may include products, sales techniques, markets, and company information. Methods include lectures, demonstrations, role-playing, seminars, and on-the-job training. The organization must determine trainees, trainers, timing, location, materials, and evaluate the program.
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This document summarizes key topics from Chapter 1 of the book "Sales and Distribution Management, 2e" including: the evolution of personal selling from persuasion to partnership strategies; the five marketing concepts with a focus on the societal marketing concept; the nature and role of sales management; different types of personal selling such as industrial, retail, and services selling; and emerging trends in sales management like customer orientation, relationship selling, and new technology.
Tittle page
This document is a project report submitted by Kamaliya Pankaj in partial fulfillment of an MBA degree. The report compares equity schemes of the top 3 asset management companies in India for the 2011-13 year. It was submitted to Prof. Ranjani Srinivasan of S.K. Patel Institute of Management and Computer Studies.
1
This document provides an overview of international business. It defines globalization as the increasing integration of economies, technologies, and cultures across borders. The main drivers of globalization are advances in communication and transportation technologies, liberalization of trade, and growing consumer demand for foreign goods. International business involves commercial transactions between countries and can be pursued for market seeking, economic, and strategic motives like growth and risk spreading. While globalization increases competition, it also opens new market opportunities. The document outlines various forms of international business and considerations for operating internationally.
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This document discusses buying and merchandising strategy for retailers. It covers three broad areas: sourcing, vendor management, and pricing. The strategy helps retailers evolve their merchandise mix to improve sales, margins, and reduce costs. It is aimed at entrepreneurs entering retail, existing retailers seeking new product lines, and those wanting to optimize financial returns. Integrated Retail provides this strategy using a team with extensive retail experience, a track record of successful implementations, benchmark retail data, and access to economic trends impacting retail.
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This document discusses sales promotion tools and techniques. It defines sales promotion as marketing activities used to boost sales of a product or service. Some key tools of sales promotion discussed are free samples, coupons, discounts, and premium offers for consumers, as well as cash bonuses, stock returns, and credit terms for trade. The document also covers push and pull promotional strategies, with push strategies taking the product directly to customers and pull strategies building customer demand through advertising. In conclusion, it states that sales promotion refers to non-recurring short-term sales activities beyond advertising and are growing in popularity due to quick returns and ability to change attitudes.
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This is the actual Powerpoint we used to present to the Target executives when my project team and I were chosen as finalists in the student marketing competition to revitalize the Target cosmetics department. I edited the whole presentation and also did the entire financial/budget analysis section. The various strategies also have a lot of my influence. I also did the concept mockup.
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The document describes the responsibilities of a marketing research analyst role. Key responsibilities include performing market research like gathering competitor data, analyzing pricing strategies, and assessing customer preferences. Additional responsibilities are reporting findings to management, evaluating marketing campaign results, advising on new products and services, and maintaining client relationships.
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This document discusses various marketing strategies and concepts. It defines international marketing as marketing activities conducted across national borders. It also discusses general marketing strategies like growing sales with existing or new products. Decision area strategies are then explained, including targeting markets, developing products, setting prices, distribution, and promotion. Challenges of international marketing and the importance of business ethics are also mentioned.
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This document discusses sales territory management from a chapter in the textbook "Sales and Distribution Management, 2e". It defines a sales territory, outlines advantages of designing sales territories, and describes factors to consider when designing sales territories such as geographic units, allocation criteria, and modifying boundaries. It also discusses territory shapes, a strategic planning matrix for allocating resources, and the potential use of information technology in managing sales territories.
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This document summarizes key topics from Chapter 1 of the book "Sales and Distribution Management, 2e" including: the evolution of personal selling from persuasion to partnership strategies; the five marketing concepts with a focus on the societal marketing concept; the nature and role of sales management; different types of personal selling such as industrial, retail, and services selling; and emerging trends in sales management like customer orientation, relationship selling, and new technology.
Tittle page
This document is a project report submitted by Kamaliya Pankaj in partial fulfillment of an MBA degree. The report compares equity schemes of the top 3 asset management companies in India for the 2011-13 year. It was submitted to Prof. Ranjani Srinivasan of S.K. Patel Institute of Management and Computer Studies.
1
This document provides an overview of international business. It defines globalization as the increasing integration of economies, technologies, and cultures across borders. The main drivers of globalization are advances in communication and transportation technologies, liberalization of trade, and growing consumer demand for foreign goods. International business involves commercial transactions between countries and can be pursued for market seeking, economic, and strategic motives like growth and risk spreading. While globalization increases competition, it also opens new market opportunities. The document outlines various forms of international business and considerations for operating internationally.
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Management control systems aim to ensure that organizational strategies are achieved. They involve detectors that measure behavior, assessors that compare it to standards, and effectors that provide feedback to alter behavior if needed. Managers at all levels use management control processes to ensure their subordinates implement strategies. Management control is complex, judgmental, and requires coordination between individuals. It influences employees to implement organizational strategies through planning, communicating, evaluating, and decision making. Financial and non-financial metrics are used to develop new strategies and focus attention on opportunities.
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The document summarizes key aspects of the selling process as presented in Chapter 3 of the textbook "Sales and Distribution Management, 2e". It outlines the typical stages in the selling process from prospecting potential customers to closing the sale. It also provides details on methods for prospecting, presenting sales, handling objections, and closing sales. Graphs and lists illustrate processes like qualifying prospects and different prospecting and objection handling techniques.
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When your product is high involvement, your marketing communications becomes high involvement and that is where direct marketing, relationship & personal selling comes into picture .
Bmgt 204 chapter_8
The document discusses different sales presentation methods that a salesperson should consider when making a presentation to a customer. It describes the memorized, formula, need-satisfaction, and problem-solution methods. For each method it provides the reasons for choosing or not choosing that particular method based on factors like the type of product or complexity of the sales situation. It emphasizes that the salesperson should select the method that best matches the specific customer and sales objective.
Chapter 2 personal selling
To understand psychology in selling, buying decision process and buying situations
To learn communication skills, sales knowledge, and sales related marketing policies
To understand personal selling process
To learn about negotiation
Running lean - YearOneLabs, Montreal
This document introduces the concept of "Running Lean", which is a systematic process for iterating a web application from the initial "Plan A" to a plan that works. It discusses how most startups fail because they do not change their original plans even when they are not working. Running Lean involves three stages - validating the problem/solution fit, achieving product/market fit, and optimizing for scale. It emphasizes the importance of testing hypotheses through experiments, gathering both qualitative and quantitative customer feedback, and using that learning to continually pivot and improve the product. The overall goal is to iterate quickly and use validated learning to progress from an unproven initial plan to one that customers want.
Bmgt 204 chapter_6
The chapter discusses the importance of prospecting for salespeople. It states that people are more likely to buy from those they know and trust, so relationship building is key. Prospecting involves finding and qualifying potential customers. Referrals from existing customers are very valuable as they reduce the burden of prospecting. The document provides an overview of different prospecting methods like cold calling, networking, and utilizing centers of influence. It also discusses obtaining sales interviews and the importance of overcoming call reluctance to continue prospecting.
Sales Promotion and Personal Selling
The document discusses key concepts in sales promotion and personal selling. It defines sales promotion and lists its objectives as reinforcing behavior, increasing consumption, and persuading customers to switch or buy more. Common forms of consumer sales promotion include coupons, rebates, premiums, and loyalty programs. Personal selling involves building relationships and understanding customer needs, while sales management oversees goals, training, compensation and evaluating performance.
Chp 10 Strategic Presenting
The document discusses different approaches and techniques for opening a sales presentation. It emphasizes that the approach is an important first step and can determine the success of the overall presentation and sale. Some key points:
- The approach involves meeting, greeting, and building rapport with the potential customer.
- It should place the customer's interests first and avoid losing the sale or damaging the relationship.
- Common approach categories include opening with a statement, demonstration, or question. The situation and customer's needs will influence the best approach.
- Questions can be direct, nondirective, rephrasing, or redirecting. The SPIN technique uses multiple questions without initially mentioning the product.
- It's important
Sales Blunders Web 2.0 PPT.ppsx
This document outlines 10 common sales blunders and how to avoid them. The sales blunders include listening less and talking more, depending on a single contact, failing to provide new insights, wasting time with the wrong contacts, showcasing personality over substance, not properly warming up cold calls, aiming only to close deals without developing relationships, waiting passively to be engaged by customers, selling alone without consulting others, and arguing with potential customers instead of handling objections smoothly. The document provides strategies for avoiding each blunder such as focusing on listening more than talking, developing multiple decision-maker relationships, providing solutions and insights, properly qualifying contacts, establishing trust and credibility, warmly engaging prospects, taking a customer-focused advisory approach, gathering
The Importance of a Powerful Sales Strategy for a Startup
Learn about the importance of developing and executing a powerful sales strategy so that your startup is positioned for growth and success. This presentation will share some insights into how to start developing your sales process, what to consider, what pitfalls to watch out for, and how to extract the right value prop from your product and service so that it resonates with your target audiences. Everything from making the first sale, to hiring multiple Sales Managers and building out a fully functional Sales Department.
Mastering sales call
The document discusses the key steps in an effective sales process. It outlines seven steps: prospecting, pre-approach, approach, presentation, handling objections, closing, and follow-up. For each step, it provides details on activities like qualifying leads, researching prospects, asking questions to determine needs, presenting product benefits, overcoming objections, gaining commitment from the customer, and following up after the sale. The overall process is presented as a cycle to ensure customer satisfaction and repeat business.
Slide share version of sales as an art and science the 10-step sales proces...
I was invited to give a presentation to the MBA and HBA students at the Richard Ivey School of Business on the topic of how to succeed at a career in Professional Sales. Here are the slides that I used to present to the students.
A presentation on personal selling
Personal selling involves face-to-face interactions between salespeople and customers to promote products and make sales. It allows for customizing messages to individual customer needs, two-way communication, and demonstration of complex product features. The personal selling process typically includes prospecting, pre-approach research, approaching customers, presenting to them, overcoming objections, closing the sale, and following up.
Sales with a ‘SPIN’-What Works and What Dosen't in Effective Sales
This document discusses different sales techniques and their effectiveness for small versus large sales. For small sales, focusing on features, advantages, and benefits can be effective, while larger sales require using the SPIN selling technique to understand customer situations, problems, implications, and underlying needs. SPIN involves asking more problem and implication questions. The document provides guidance on how to implement SPIN, including focusing on the investigating stage and using different types of questions. It also discusses how to practice and refine new selling behaviors.
Introduction to Lean Startups with Steve Guengrich
1. The document introduces the concept of Lean Startups, which is an iterative process for developing and testing business model hypotheses to achieve product/market fit and scale.
2. A Lean Startup focuses on validating problem/solution fit and product/market fit through frequent experiments and customer feedback before worrying about scale.
3. Key aspects of a Lean Startup include developing falsifiable hypotheses, building dashboards to measure key metrics, conducting regular "lessons learned" style meetings, and using pivots to course correct rather than long-term planning.
Illp 3-customer-segments
Q&A about Channels
Team Presentations: Customer Segments Findings
Summary about Customer Relationships
Work for Next Week
sales call.ppt
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Chap 1
This document summarizes key topics from Chapter 1 of the book "Sales and Distribution Management, 2e" including: the evolution of personal selling from persuasion to partnership strategies; the five marketing concepts with a focus on the societal marketing concept; the nature and role of sales management; the different types of personal selling such as industrial, retail, and services selling; and emerging trends in sales management like customer orientation, relationship selling, and new selling methods using technology.
Chp 9 Sales Preso Methods ppt
The document discusses various sales presentation methods including memorized, formula, need-satisfaction, and problem-solution approaches. It provides details on when each method is best to use based on factors like knowledge of the customer, sales objective, product type, and complexity of the selling situation. Guidelines are provided for group presentations, negotiating techniques, and selecting the optimal presentation method and approach.
Similar to 3 (20)
The Importance of a Powerful Sales Strategy for a Startup
The Importance of a Powerful Sales Strategy for a Startup
Slide share version of sales as an art and science the 10-step sales proces...
Slide share version of sales as an art and science the 10-step sales proces...
Sales with a ‘SPIN’-What Works and What Dosen't in Effective Sales
Sales with a ‘SPIN’-What Works and What Dosen't in Effective Sales
Introduction to Lean Startups with Steve Guengrich
Introduction to Lean Startups with Steve Guengrich
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Grand project
This document discusses the impact of non-performing assets (NPAs) on the profitability and liquidity of public sector banks in India. It begins with an introduction to NPAs, defining them as loans where the principal or interest is overdue for more than 90 days. It then reviews relevant literature on the topic and provides background on the Indian banking industry and structure. The remaining chapters outline the research methodology, hypotheses, findings, and conclusions of the study. In summary, the document examines how NPAs affect key financial metrics like profitability and liquidity for public sector banks through an analysis of bank performance data.
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This document provides an overview of international business. It defines globalization as the increasing integration of economies, technologies, and cultures across borders. The main drivers of globalization are advances in communication and transportation technologies, liberalization of trade, and growing consumer demand for foreign goods. International business involves cross-border transactions and can be pursued for market seeking, economic, and strategic motives like growth and risk spreading. While globalization increases competition, it also opens new market opportunities. The document outlines various forms of international business and considerations for operating internationally.
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This document discusses strategies at the corporate and business unit levels. At the corporate level, strategies determine the mix of industries a firm operates in. Related diversification across industries that share resources performs best. Business unit strategies set missions and competitive advantages. The BCG matrix analyzes market share and industry growth to determine strategies like building, holding, harvesting or divesting business units. Porter's five forces and value chain analyses identify industry factors and activities that determine a unit's competitive advantage as low cost, differentiation or stuck in the middle. Control system designers must understand the strategic goals and positioning of business units.
Ch01ib
This document provides an overview of international business. It defines globalization as the increasing integration of economies, technologies, and cultures across borders. The main drivers of globalization include advances in communication/transportation, liberalized trade policies, growing consumer demands, and increased competition. International business involves cross-border transactions between governments/companies and can be pursued for market seeking, economic, and strategic motives like growth and risk spreading. While globalization opens opportunities through expanded markets and investment, it also poses challenges from rising competition. The document outlines various forms of international business and questions companies should consider when operating globally.
288 33 powerpoint-slides_chapter-11-modes-international-business-expansion
This document discusses various modes of international business expansion. It begins by defining modes of expansion as specific forms of entering foreign countries. It then categorizes the modes into three main types - trade related, contractual, and investment. For each type, it provides examples and descriptions of common modes like exports, agents, joint ventures, subsidiaries, etc. The document also discusses factors to consider when selecting a mode and emphasizes strategically matching the selected mode with the firm's objectives and resources.
288 33 powerpoint-slides_chapter-8-political-legal-environment
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288 33 powerpoint-slides_chapter-7-international-cultural-environment
This chapter discusses the importance of culture in international business decisions. It defines culture as the way of life of people, including their attitudes, values, beliefs, arts, sciences, modes of perception, and habits of thought and activity. The major constituents of culture discussed are value systems, norms, aesthetics, customs and traditions, language, and religion. Managers operating internationally must understand these cultural factors and how they vary across countries to make informed business decisions.
288 33 powerpoint-slides_chapter-6-international-economic-integrations
This document discusses international economic integrations and trade agreements. It begins by outlining the learning objectives, which include providing an overview of economic integration and discussing major trade groups. It then defines different forms of integration like preferential trade agreements, free trade agreements, customs unions, common markets, and economic unions. Major regional trade agreements discussed include the European Union, NAFTA, MERCOSUR, GCC, APEC, and ASEAN. India's participation in agreements like SAFTA, CECA with Singapore, ASEAN framework agreement, and BIMSTEC are also summarized. The document provides high-level information on concepts, definitions, objectives and examples of international economic integrations and trade agreements.
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International-cultural-environment
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Chap 7
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Chap 5
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Chap 3
This document discusses factors that influence goal congruence between individuals and organizations. It describes informal factors like external social norms, organizational culture, management style, and informal communication channels. Formal control systems involve rules, budgets, and performance evaluations. The document also outlines different types of organizational structures like functional, business unit, and implications for control system design. Controller functions are defined as designing control systems, financial reporting, performance analysis, internal audits, and developing accounting personnel. The controller's dual reporting relationship to business units and corporate is also discussed.
Chap 2
This document discusses strategies at the corporate and business unit levels. At the corporate level, strategies determine the mix of industries a firm operates in. Related diversification across industries that share resources performs best. Business unit strategies set missions and competitive advantages. The BCG matrix analyzes market share and industry growth to determine strategies like building, holding, harvesting or divesting business units. Porter's five forces and value chain models identify industry factors and activities that influence competitive advantage.
Chap 1
This document discusses the nature and key concepts of management control systems. It defines management control as the process by which managers influence other members of an organization to implement strategies. A management control system typically includes detectors to measure behavior, assessors to compare it to standards, and effectors to provide feedback and alter behavior if needed. The document contrasts management control with task control and strategy formulation, and discusses how the internet can facilitate coordination and control.
6. transfer pricing
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Chap 8
Strategic planning is a process where an organization decides on programs over the next 3-5 years and allocates resources to each program. It involves reviewing and updating strategic plans, setting assumptions and guidelines, business units creating initial plans, headquarters analyzing and aggregating plans, resolving issues through discussion, iterating plans, and final senior management review and approval. The process aims to align strategies, facilitate resource allocation, and develop managers through strategic thinking.
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This document discusses compensation plans for sales forces. It outlines objectives of effective compensation plans such as attracting and retaining quality salespeople. Key types of compensation discussed are financial plans like straight salary, commission, and bonus plans as well as non-financial incentives. The document also examines factors that influence compensation plan selection and the process for designing a plan that balances both short and long-term sales force and company objectives.
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3
- 1. Sales and Distribution Management, 2e Dr Tapan K. Panda, Great Lakes Institute of Management, Chennai Dr Sunil Sahadev, University of Sheffield, UK Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 2. Chapter 3 The Selling Process Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 3. Stages in the selling process Pre-sale preparation Follow up action Prospecting Preapproach before the interview Approach to the customer Closing the Sale Handling Customer Objections Sales Presentation Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 4. Prospecting Successful prospecting 50 potential prospects 50 potential prospects 15 Qualified prospects 25 Qualified prospects 6 Interviews 17 Interviews 1 sale 7 sales No Yes Successful prospecting Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 5. Process of prospecting Identify and define prospects Search for sources of potential accounts Qualify the prospects from the suspects Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 6. Methods of prospecting Cold canvassing Endless chain customer referral Prospect pool Centers of influence Non competing sales force Observation Friends and acquaintances Lists and directories Direct mail Telemarketing Trade shows and demonstrations Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 7. Selling process • Pre approach to selling • Approach to the customer • Sales presentation - approach to sales presentation - attracting customer attention - creating interest - arousing desire and building conviction • Methods of sales presentation - canned presentation - organized presentation - tailored presentation Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 8. Handling customer objections Suggested by SMITH • Start with your highest expectations • Avoid conceding first • BE sure the customer understands the value of a concession • Make concessions in small amounts • Admit mistakes and make corrections willingly • BE prepared to withdraw a concession • Avoid ‘split the difference’ strategy • Do not advertise willingness to concede Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 9. Methods of handling customer objections Superior feature method Yes…But method Reverse English method Indirect denial method Pass out method Comparison method Direct denial method Another angle method Narrative method Testimonial method Question or WHY method Copyright © 2011 Oxford University Press Chapter 3: The Selling Process
- 10. Closing the sale • Methods of closing the sale • Follow-up action • B2B selling Copyright © 2011 Oxford University Press Chapter 3: The Selling Process