This document discusses marketing of financial products and sales force management. It covers topics like salesmanship, the roles of a sales force and sales manager, different types of sales representatives, designing a sales force, the sales process using a relationship approach, and ethical and unethical sales behaviors. The document provides definitions and descriptions of these sales and marketing concepts over 19 pages.

1. 1
Marketing of
Financial
Products
1
MoFP for
TKW’s
Lecture – 9
Parveen Sharma

2. 2
MoFP for
TKW’s
2
Contents
 Sales Force Management
 Salesmanship
 Sales Force
 Function of Sales Manager
 Sales Representatives Types
 Sales Force Designing & Sales Management
 Designing the Sales Force
 Sales Process: Relationship Approach
 Ethical & Unethical Sales

3. 3
NN
Salesmanship
MoFP for
TKW’s
 The art of successfully persuading prospects or customers to buy
product or service from which they can derive suitable benefits thereby
increasing their satisfaction.

4. 4
NN
Salesmanship
MoFP for
TKW’s
Sales
Person
Empathetic
Competitive
Goal
Oriented
Adaptive
Customer
Oriented
Enthusiastic
Organized
Self
Motivated
 Individual with desirable sales trait.

5. 5
NN
Sales Force
MoFP for
TKW’s
 Sales department is the maximum revenue generating department
for any organization.
 Sales department establishes a link between the company and its
customers(its bread & butter).
Sales creates Win – Win for both
organization & customers

6. 6
NN
Function of Sales Manager
MoFP for
TKW’s
 Higher sales at increased profit
 Greater satisfaction for customers
 Managing other sales members(Team Management)
 Ensuring profitability level of distributors & traders
 Execution of organization vision
 Forecasting, Budgeting and Planning sales operations

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NN
Sales Representatives Types
MoFP for
TKW’s
 Deliverer
 Order taker
 Missionary
 Technician
 Demand creator
 Solution vendor

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NN
McMurry Distinction of Sales Positions
MoFP for
TKW’s
 Deliverer: Major task is to deliver the product/service
 Order taker: Act predominantly as inside & outside order taker
 Missionary: Major task is to build goodwill or to educate actual or
potential customer
 Technician: High level of technical/product knowledge
 Demand creator: More creative while selling tangible/intangible
products/services
 Solution vendor: Expertise in solving customer problems with the
existing product/service basket

9. 9
NN
Personal Selling
MoFP for
TKW’s
Prospecting Pre-approach Approach
Need
Identification
Presentation
Handling
Objection
Gaining
Commitment
Closing &
Follow up

10. 10
NN
Sales Force Designing & Sales Management
MoFP for
TKW’s
Sales
Force
Objective
Sales
Force
Strategy
Sales
Force
Structure
Sales
Force
Size
Sales
Force
Compensation
Develop a
Sales
Strategy
Design the
Sales
Organization
Developing
Sales
Force
Directing
Sales
Force
Determine
Effectiveness
&
Performance
Sales
Management
Activities
Designing
Sales
Force

11. 11
NN
MoFP for
TKW’s
Designing the Sales Force
Steps in Process
 Objectives & Strategy
 Structure
 Sales force size
 Compensation
 Objectives
– Sales volume and profitability
– Prospecting
– Communicating
– Servicing
– Information gathering
– Product Allocations
– Customer satisfaction
 Strategy
– Account manager
– Acting ways: selling in person,
group, conference, seminar

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NN
MoFP for
TKW’s
Designing the Sales Force
 Types of sales force structures:
– Territorial: clear definition of
responsibilities
– Product: structuring along product
lines
– Market: structuring along industry
or customer lines
– Complex: diverse product lines to
many customers
 Key accounts
Steps in Process
 Objectives & Strategy
 Structure
 Sales force size
 Compensation

13. 13
NN
MoFP for
TKW’s
Designing the Sales Force
 Workload approach:
– Group customers by volume
– Establish call frequencies
– Calculate total yearly sales call
workload
– Calculate average number of
calls/year
– Calculate number of sales
representatives
Steps in Process
 Objectives & Strategy
 Structure
 Sales force size
 Compensation

14. 14
NN
MoFP for
TKW’s
Designing the Sales Force
Steps in Process
 Objectives and strategy
 Structure
 Sales force size
 Compensation
 Four components of
compensation:
– Fixed amount
– Variable amount
– Expense allowances
– Benefits
 Compensation plans
– Straight salary
– Straight commission
– Combination

15. 15
NN
MoFP for
TKW’s
Developing Sales Force
 Recruiting and Selecting
 Training: Initial and Continual
 Directing the Sales Force
– Motivation
– Supervision
– Leadership

16. 16
NN
MoFP for
TKW’s
Sales Process: Relationship Approach
RoE = Return on Equity
Bad RoE & Sales
Force Perception
But
Return on Experience

17. 17
NN
MoFP for
TKW’s
Sales Process: Relationship Approach
Salesperson Attributes:
• Customer-oriented
• Honest
• Dependable
• Competent
• Likeable
Initiating Customer
Relationships:
• Prospecting
• Precall Planning
• Approaching customer
Developing Customer
Relationships:
• Sales Presentation
Delivery
• Gaining Customer
Commitment
Enhancing
Customer
Relationships
Selling Strategy:
• Sales Territory
• Each Customer
• Each Sales Call

18. 18
NN
MoFP for
TKW’s
Ethical & Legal Issues in Personal Selling
Strict codes of ethics for sales people.
Sales managers must take responsibility for the proper behavior of
their salespeople, and they must lead by example.
Salespeople should be honest in their dealings with customers and be
informed of relevant laws governing their business situation.

19. 19
NN
MoFP for
TKW’s
Unethical Sales Behaviors
 Exaggerating features and benefits
 Lies about availability & competition
 Sells something people don’t need
 Giving false answers to questions
 Falsifying product testimonials
 Passing blame for their own mistakes
 Pose as market researcher while calling
 Misrepresent warranties & guarantees
 Make nonbinding oral promises
 Bending company rules
 Selling dangerous or hazardous products

20. 20 MoFP for
TKW’s
NN
? ueriesQ
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Contact me @ +91-9050050288
or
Email to parveen_72@yahoo.in

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Thank
You
MoFP for
TKW’s
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