This document discusses marketing, sales management, and the interaction between marketing and sales departments. It provides definitions of marketing as managing profitable customer relationships and outlines the marketing process. It also defines sales management and discusses the responsibilities of sales managers and salespeople. The document notes that customers are becoming more sophisticated, demanding solutions over products, and requiring more complex selling. It suggests salespeople will need to develop deeper customer knowledge and more advanced selling skills to address these changes.
Meaning & Objective of sales management; Meaning & Personal selling objectives; theories of selling; personal selling process; sales force; compensation and motivation of sales force
W1 marketing creating customer value and engagementfaizaperbanas
Objective 1 Define marketing and outline the steps in the marketing process.
Objective 2 Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
Objective 3 Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Objective 4 Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
Objective 5 Describe the major trends and forces that are changing the marketing landscape in this age of relationships.
Meaning & Objective of sales management; Meaning & Personal selling objectives; theories of selling; personal selling process; sales force; compensation and motivation of sales force
W1 marketing creating customer value and engagementfaizaperbanas
Objective 1 Define marketing and outline the steps in the marketing process.
Objective 2 Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
Objective 3 Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Objective 4 Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
Objective 5 Describe the major trends and forces that are changing the marketing landscape in this age of relationships.
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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2. What Is Marketing?
Simple definition:
Marketing is managing profitable customer
relationships.
Goals:
1. Attract new customers by promising
superior value.
2. Keep and grow current customers by
delivering satisfaction.
Prentice Hall, Copyright 2009 1-2
3. The Marketing Process
• A simple model of the marketing process:
• Understand the marketplace and customer
needs and wants.
• Design a customer-driven marketing strategy.
• Construct an integrated marketing program that
delivers superior value.
• Build profitable relationships and create
customer delight.
• Capture value from customers to create profits
and customer quality.
Prentice Hall, Copyright 2009 1-3
4. Customer Satisfaction
•Customer satisfaction:
• Dependent on the product’s perceived
performance relative to a buyer’s
expectations.
• Customer satisfaction often leads to consumer
loyalty.
• Some firms seek to DELIGHT customers by
exceeding expectations.
Prentice Hall, Copyright 2009 1-4
5. Customer Relationships
• Loyalty and retention programs build
relationships and may feature:
• Financial Benefits
• E.g., frequency marketing programs
• Social Benefits
• E.g., club marketing programs
• Structural Ties
• Focus is on relating directly to profitable customers,
for the long term.
Prentice Hall, Copyright 2009 1-5
6. Sales Management
Sales management is a business discipline which is
focused on the practical application of sales techniques
and the management of a firm's sales operations. It is an
important business function as net sales through the sale
of products and services and resulting profit drive most
commercial business. These are also typically the goals
and performance indicators of sales management
Also known as Sales Force Management and maybe also
defined as the management of the personal selling
component of an organization's marketing program.
7. The nature and role of sales
management
• The emphasis is on the word management
• Nowadays the sales manager is expected to play a
much more strategic role in the company and is
required to make a key input into the formation of
the company plans.
• Apart from being an accountant, a planner, a
personnel manager and a marketer.
• In order to fulfill these roles the sales managers will
have to undertake the following specific duties and
responsibilities
7
8. Responsibilities of a Sales Manager
• Determination of sales force objectives and goals
• Forecasting and budgeting
• Sales force organization
• Sales force size
• Territory design and planning
• Sales force selection, recruitment and training
• Motivating the sales force
• Sales force evaluation and control
8
12. Personal Selling
• Persuasive communication between a representative of the
company and one or more prospective customers,
designed to influence the person's or group's purchase
decision.
• A personal presentation by the company’s sales force for
the purpose
of making sales and building
customer relationship
13. THE CHANGE..?
The world of professional selling is changing dramatically.
Much of this change is driven by shifts in the way customers.
Important changes:
• Customers have become more sophisticated and demanding
• Customers want solutions rather than products
• Companies are using fewer suppliers
• Purchases being made from foreign suppliers
• Large accounts require more sophisticated selling
• Database and knowledge management new technology internet, mobile
and laptop
• Customer relationship management, long-lasting relationships, win to win
• Problem solving and system selling knowledge about any problem
• Satisfying needs and adding value
14. New Salesman
• Along with changes in their approach to customers,
sales people will change themselves.
• They will have more in depth customer knowledge
and more sophisticated selling and service skills.
• As a result, salespeople will be highly paid, more
highly trained, and more skilled professionals.
16. Modern sales approaches
• The shifts in the way customers buy in 21st century
entails that sales function takes on a new robe and a
novel sales approach.
Some of the modern sales approaches include:
• Partnering
• Relationship selling
• Team selling
• Value added selling
• Consultative selling
17. Personal selling in the Marketing Mix
• Under the marketing concept, marketing research
assumes the task of identifying customer needs and
problems, while the firm’s marketing mix is used to
deliver the solutions.
• The marketing mix is the set of strategies that a company
utilizes to implement its marketing plan and pursue its
marketing objectives.
• In line with the changes in the markets and marketing
strategies, salespeople n sales managers are being asked
to play a significant role in each component of the
marketing mix.
18. Types of Selling
• Selling job varies according to the nature of the selling task.
• They are:
• Order-takers respond to already committed customers
• Order- creators do not directly receive orders since they talk
to specifiers rather than buyers. They are called Missionary
sales people, their selling task is to educate and build good
will. Examples Medical representatives call on the doctors to
make them specify their medicines to the patients
• Order- getters attempt to persuade customers to place an
order directly. Consists of those in selling jobs where a major
objective is to persuade customers to make a direct purchase
18
Editor's Notes
With less product differentiation and greater customer and competitive pressures, the selling task will become increasingly difficult and more complex.
Smaller, less profitable accounts will often be served through low cost channels of distribution n communication eg telemarketing, direct mktg. , e-mktg.