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Where does selling fit in a business organization? : 3 Where does selling fit in a business organization? VP Marketing Marketing Manager Marketing Mix The 4 Ps of Marketing Promotion Strategy Advertising Personal selling Sales promotion Other communication Types of Sales Jobs : 4 Types of Sales Jobs Selling in Retail A retail salesperson sells goods or services to consumers for their personal, non-business use. Direct Sellers Face-to-face (or telephone) sales to consumers who use the products for their personal use. Types of Sales Jobs : 5 Types of Sales Jobs Selling for a Wholesaler For resale For use in producing other goods For use within an organization Works for the firm who manufacturers the product This is usually one of the most prestigious jobs to hold Selling for a Manufacturer A Continuum… : 6 A Continuum… The complexity and difficulty of these seven sales job categories increase as they move left to right. Order-Takers $27, 000 Order-Getters $100, 000 Sales Clerks Sales Reps Technical Reps Business Solutions Specialists Key Account Reps Top Sales Exec A Salesperson’s Career Path : 7 A Salesperson’s Career Path Why Choose a Sales Career? : 8 Why Choose a Sales Career? There are a wide variety of sales jobs available The freedom of being on your own The opportunity for advancement in a company The rewards from a sales career can be substantial Rewards : 9 Rewards Non-financial Intrinsic reward of knowing you’ve skillfully delivered a sales presentation Quicker path to managing large amounts of responsibility Different kinds of incentives e.g. trips, gifts Financial Higher average than that of other workers at the same level within the organization Based upon performance What is Relationship Selling? : 10 What is Relationship Selling? Non-adversarial Non-manipulative Consultative Partnering Problem-solving Build and maintain a long-term relationship Customer Relationship Process:maintain a customer focus : 11 Customer Relationship Process:maintain a customer focus Maintain and grow the relationship Analyze needs Recommend solution and gain commitment Customer Implement the recommendation Building Relationships through Selling : 12 Building Relationships through Selling The sales process is a sequential series of actions Prospecting Objections Pre-approach Approach Presentation Trial close Meet objections Trial close Close Follow-up and service Ten Important Steps : 13 Ten Important Steps What is Retailing? : 14 What is Retailing? Individual or organization that sells good or services to final customers for their personal, non-business use. Key: The final customer Career Opportunities : 15 Career Opportunities Financial rewards are excellent Straight salary Commissions Combination of salary & commission Non-financial rewards are many Excellent training programs Rapid assumption of responsibility Personal growth & development The Retail Salesperson’s Role : 16 The Retail Salesperson’s Role Service is the key Working hard and knowing product and stock is necessary Personal selling is where it’s at! Accurately completing transactions is a must Basic Retail Selling Process : 17 Basic Retail Selling Process The Five ”Rights” of Retailing Right Product Right Price Right Place (location and distribution) Right Time Right Quantity Retail selling activity #1 : 18 Retail selling activity #1 Let’s role play Case 14-1 on page 290 of our text. Who would like to volunteer to be the retail tire salesperson and who would like to be Lauren? How successful was this salesperson? Let’s do it again! (New volunteers?) This time, we’ll do it right!!!! Now, here is a professional!!!! : 19 Now, here is a professional!!!! Case # 14-2 on page 290 of our text. Let’s role play Marc and his shoe salesperson. Please compare and contrast this case situation to our last case. How are they similar and how do they differ? What’s Different About the Business Market? : 20 What’s Different About the Business Market? The business market Derived, inelastic and joint demand Industrial, producer, organizational Businesses buy for three purposes: To make other goods and services To sell to consumer or other users To conduct organization’s operations Types of Business Purchases : 21 Types of Business Purchases New Task Straight Rebuy Modified Rebuy Please provide a business example for each! Requests for Proposals [RFPs] : 22 Requests for Proposals [RFPs] What are they? When are they used? What is the process? How do you respond? Here is an example….. Who Makes the Decisions Around Here? : 23 Who Makes the Decisions Around Here? Understanding the business buying process The eight steps are: see text pg 281 Key: Finding and spending time with the right person Persons with influence over buying decision Purchasing agent The Purchasing Decision:Who makes it? : 24 The Purchasing Decision:Who makes it? Let’s think of a business buying situation where there are many people who influence the buying decision. The purchase of a company car! The Salesperson needs to take into consideration who will influence the purchasing decision. These influencers are: Decision makers to include: : 25 Decision makers to include: Initiator Deciders Influences Buyers Gatekeepers Users What is the influence of each of these? Selling Services is Challenging! : 26 Selling Services is Challenging! Characteristics of Services Intangibility Inseparability Heterogeneity Perishability and fluctuating demand Let’s try selling a business service! You are a DJ selling your music service to a wedding planner. How would you proceed? Nonprofit Selling : 27 Nonprofit Selling No profit motive! Most nonprofit organization sell services rather than intangibles, such as: Cultural: museums, zoos Religious: temples, mosques Social cause: civil rights, smoking Political: political parties, politicians Non-profit Selling : 28 Non-profit Selling Nonprofit clients Nonprofit contributors Importance Impact What do Professional Salespeople need to know……. : 29 What do Professional Salespeople need to know……. Sources of Sales Knowledge Knowledge Builds Relationships Know Your Customers Know Your Company Know Your Product Know Your Resellers A FABulous Approach to Buyer Need Satisfaction Knowledge Requirements : 30 Advertisement and Sales Promotional Tools Pricing Your Product Know Your Competition, Industry, and Economy Personal Computers and Selling How knowledge of Technology Enhances Sales and Customer Service Global Technology Provides Service Others???? Knowledge Requirements Sources of Sales Knowledge : 31 Sources of Sales Knowledge Sales training Experience Literature (trade magazines) Established Business databases ( and they are???) Colleagues, Customers World Wide Web (let’s check out sites on text pg 57) Knowledge Builds Relationships : 32 Knowledge Builds Relationships Knowledge increases salesperson’s confidence. Knowledge increases buyer’s confidence in salesperson. More knowledge, more sales, more relationships. Know Your Customer’s (Prospect’s) Company : 33 Know Your Customer’s (Prospect’s) Company General Company Information: Company history, growth and accomplishment Buying policies and procedures Warehouse facilities Mission statement and values How they plan to use your product Their wants and needs Their partners Let’s think of a your Buying Customer : 34 Let’s think of a your Buying Customer What information do we need to know about this customer? Where could we find out this information? Let’s do it now!!!!! Know Your Selling Company: The Supplier : 35 Know Your Selling Company: The Supplier General Company Information: Company history, growth and accomplishment Selling policies and procedures Production facilities Mission statement Service facilities In-house Research and Development Other Customers Know the Product you are selling : 36 Know the Product you are selling Product knowledge may include: Performance data Any testimonials??? Physical size and characteristics (specifications) How the product operates Specific features, advantages, and benefits of the product How well the product is selling in the marketplace Other information????? Know Your Resellers (If it is a product that is being resold?) : 37 Know Your Resellers (If it is a product that is being resold?) Understand the channel of distribution. Know as much about each channel member as possible, including the preferences of each channel member’s customers. Describe a channel that includes a supplier, reselling buyer, and consumer. The buyer, in this case, is selling a product intact to the consumer who is the end user Please provide an example of the seller, buyer, product and consumer for this situation. Industrial Selling / Buying : 38 Industrial Selling / Buying Understand the channel of distribution. Know as much about each channel member as possible, including the preferences of each channel member’s customers. Describe a channel that includes: A supplier who sells to a buyer who uses the purchased product to either make another product or to be used within its own operation. What is the difference between this channel and the previous one? Please provide an example of the seller, buyer, and product for this situation. Now, how can we expand this channel in both directions. Let’s try now! Differences between Industrial Selling and Reselling : 39 Differences between Industrial Selling and Reselling What are they? Do you understand the differences? How are the wants and needs for the product different for the Business Buyers depending where they are positioned in the channel? Know your Company’s Advertising Plan : 40 Know your Company’s Advertising Plan Main ingredients of a firm’s promotional effort. Types of Advertising Differ: National advertising Retail advertising Direct-mail advertising Internet advertising Trade advertising Know your Company’s Sales Promotion Plan : 41 Know your Company’s Sales Promotion Plan Consumer sales promotion Trade sales promotion Point-of-purchase (POP) displays Shelf positioning Shelf facings Planogram Software Premiums Know your Company’s product pricing strategy : 42 Know your Company’s product pricing strategy Types of Prices Discounts lower the price Markup and profit Unit Cost Value an ROI Know Your Competition, Industry, and Economy : 43 Know Your Competition, Industry, and Economy Understand competitors’ products, policies, price, and practices. What is YOUR competitive advantage Sources: National Post Globe and Mail Canadian Business ACNielsen How do Personal Computers assist your in your Selling? : 44 How do Personal Computers assist your in your Selling? Uses and Benefits Growing use as sales management tools More effective management Improved customer relations More efficient account control and servicing Improved accuracy Top 10 PC Applications : 45 Top 10 PC Applications Knowledge of Technology Enhances Sales and Customer Service : 46 Knowledge of Technology Enhances Sales and Customer Service Personal Productivity Contact management Calendar management Automate sales plans, tactics, and tickets Geographic information systems Computer-based presentations Knowledge of Technology Enhances Sales and Customer Service : 47 Knowledge of Technology Enhances Sales and Customer Service Communications with Customers and Employer Word processing E-mail Fax capabilities and support Customer Order Processing and Service Support Sales’ Mobile Offices Global Technology Provides Service : 48 Global Technology Provides Service Increased worldwide interaction and distribution Summary : 49 Summary Company knowledge includes information on a firm’s: history products procedures development practices distribution promotion pricing Summary : 50 Summary Salesperson should be able to confidently discuss price, discounts, and credit policies with customers. Success in sales requires knowledge of the many technologies used to sell and service customers. Success requires knowledge of products, competitors. Prospecting—The Lifeblood of Selling : Prospecting—The Lifeblood of Selling Main Topics : 52 The Sales Process Has 10 Steps Steps Before the Sales Presentation Prospecting—The Lifeblood of Selling Prospecting Guidelines The Prospect Pool The Referral Cycle Main Topics The Sales Process : 53 The Sales Process The selling process has 10 important steps. The Sales Process Has 10 Steps : 54 The Sales Process Has 10 Steps Trial Close Presentation Approach Pre-approach Prospecting (including gathering leads and lead qualification into qualified prospects) Follow up The Close Trial close Meet Objections Determine Objections When????Does a Lead become a Prospect!Does a Prospect become a Customer! : 55 When????Does a Lead become a Prospect!Does a Prospect become a Customer! Prospecting—The Lifeblood of Selling : 56 Prospecting—The Lifeblood of Selling Prospect: qualified person Prospecting: identifies potential customer Lead: Suspect vs. Prospect “Qualifying” a Prospect (from a lead)? : 57 “Qualifying” a Prospect (from a lead)? The Three Determinants are: Qualifying A Prospect: The Techniques : 58 Qualifying A Prospect: The Techniques Asking the referral for information Researching the company prospectus Keeping your industry knowledge up to date Speaking with non-competing salespeople Successful Salespeople must prioritize their effort, time and resources : 59 Successful Salespeople must prioritize their effort, time and resources Determine prospect close-ability: Motive Why prospect buys Means Ability to buy Opportunity Salesperson provide the opportunity to buy Planning a Prospecting Strategy : 60 Planning a Prospecting Strategy Requires a strategy. Is a skill that can be constantly improved. Involves evaluating different methods. Where to Find Prospects : 61 Where to Find Prospects Sources may be varied or few. Persons selling different services and goods might not use the same sources. Prospecting Methods that Work! : 62 Prospecting Methods that Work! In-class Activity : 63 In-class Activity Your instructor will divide you into groups of two or three and assign each group a different method. Please take 15 minutes to prepare a presentation of this method that you will use to teach this method to your class. Provide a real Business situation for which this method would be effective! Prospecting Guidelines : 64 Prospecting Guidelines Three criteria: Customize High potential customers Call back Referrals used in most prospecting methods – reputed to be the most effective The Sales Funnel : 65 The Sales Funnel Components of the Prospect Pool : 66 Components of the Prospect Pool The Referral Cycle : 67 The Referral Cycle Obtaining referrals is a continuous process without beginning or end. The Referral Cycle : 68 The Referral Cycle The secret is to ask correctly during referral cycle: The preapproach contact phase The presentation Product delivery contact phase Service and follow-up contact phase Don’t mistreat the referral. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.