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Sales Management. Week 1. Note: This lecture draws heavily from the content in the textbook: Sales Management (Analysis and Decision Making), 6 th Edition, Ingram et al. Agenda . Getting Started Review of Course Outline Expected Learning Outcomes:

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sales management

Sales Management

Week 1

Note: This lecture draws heavily from the content in the textbook: Sales Management (Analysis and Decision Making), 6th Edition, Ingram et al.

agenda
Agenda
  • Getting Started
  • Review of Course Outline
  • Expected Learning Outcomes:
    • List the advantages and disadvantages of personal selling as a marketing communications tool
  • Flow/Activities/Discussion
    • What is marketing communications?
    • What drives the decision to utilize personal selling in the mix?
    • Which of the 5 personal selling approaches should be deployed?
    • In-Class Practice Exercises
      • Group – Analyze quick case & make a recommendation
      • Individual – Analyze a case scenario and make a recommendation
  • Review Key Terms & Concepts
  • Next Class
thinking about sales mgmt
Thinking about Sales Mgmt
  • Why is common for personal selling to be emphasized in business markets and advertising emphasized in consumer markets?
  • What are some of the problems a firm might face when undertaking a major restructuring of its sales organization?
  • What are some of the problems associated with improperly executed recruitment and selection activities?
  • Describe an optimal salesforce reward system?
  • Discuss why it is important to differentiate between sales organization effectiveness and salesperson performance.
course outline review
Course Outline Review
  • Get textbook
  • Review grading elements
  • Key Dates
    • Quiz #1 …... Jan 26
    • Quiz #2 …… Feb 12
    • Midterm …… Feb 19
    • Quiz #3 …… Mar 9
    • Final Exam .. Apr 2
marketing communications
Marketing Communications?
  • Marketing Strategy
    • Target Market(s)
    • Positioning
  • Marketing Mix Development
    • Product Strategy
    • Price Strategy
    • Distribution Strategy
    • Marketing Communications Strategy
      • Advertising Strategy
      • Publicity Strategy
      • Sales Promotion Strategy
      • Personal Selling Strategy
marketing communications1
Marketing Communications?
  • B2B Marketing Strategy
    • Market entry for Newco’s Business Laptops
  • Target Market Selection
    • Mid-size companies across Europe
  • Marketing Mix Development
    • Product Strategy
      • Internationalized
      • Most reliable, Longest battery life
      • Superior customer service
    • Price Strategy
      • Lowest cost for moderate volume purchases (25-50)
    • Distribution Strategy
      • Fulfillment through central manufacturing and distribution center in Berlin
    • Marketing Communications Strategy
      • Advertising Strategy == Top 5 European daily newspapers
      • Publicity Strategy == Key Influencer articles, Press releases
      • Sales Promotion Strategy == Direct marketing, Give-a-way contest, Major Conferences
      • Personal Selling Strategy == <<????>>>
personal selling defined
Personal Selling – Defined

Personal selling refers to person to person communication with a prospect. It is the process of developing relationships ; discovering customer needs; matching appropriate products with these needs; and communicating benefits through informing, reminding or persuading.

why use personal selling
Why Use Personal Selling?
  • Buyer market is few and concentrated
  • Buyer needs a great deal of information
  • Purchase is important
  • Product is complex
  • Service after the sale is important…

 e.g. personal selling is preferred tool in many B2B environments

sales management model

Describing the Personal Selling Function

Defining the Strategic Role of the Sales Function

Developing the Sales Force

Directing the Sales Force

Sales Management Model

Determining Sales Force Effectiveness and Performance

transaction vs relationship

Short term thinking

  • Making the sale has priority over most other considerations
  • Interaction between buyer and seller is competitive
  • Salesperson is self-interest oriented
  • Long term thinking
  • Developing the relationship takes priority over getting the sale
  • Interaction between buyer and seller is collaborative.
  • Salesperson is customer-oriented
Transaction vs. Relationship

Transaction-Focused

Relationship-Focused

personal selling approaches
Personal Selling Approaches
  • Stimulus Response Selling
  • Mental States Selling
  • Need Satisfaction Selling
  • Problem Solving Selling
  • Consultative Selling
stimulus response selling

Continue Process until Purchase Decision

Salesperson

Provides

Stimuli

Buyer

Responses

Sought

Stimulus Response Selling
mental states selling
Mental States Selling

Attention

Interest

Conviction

Desire

Action

need satisfaction selling

Present Offering to Satisfy Buyer Needs

Continue Selling until Purchase Decision

Uncover and Confirm Buyer Needs

Need Satisfaction Selling
problem solving selling

Continue

Selling

until

Purchase

Decision

Generate

Alternative

Solutions

Evaluate

Alternative

Solutions

Define

Problem

Problem Solving Selling
consultative selling

Business Consultant

The process of helping customers reach their strategic goals by using the products, service, and expertise of the selling organization.

Strategic Orchestrator

Long-term Ally

Consultative Selling
group exercise
Group Exercise
  • Get into 5 groups
  • Take 5 minutes to discuss which type of selling approach and why might be used by the following salespeople:
    • Chemical company selling raw materials to paint mfg
    • Financial company selling credit cards
    • Pharma company selling anti-coagulant meds to heart surgeons
    • Insurance sales people
    • FutureShop or electronics retailer
  • Think in terms of the expectation of the customer, size of deal, geographic coverage, information exchange, risks
review key terms and concepts
Personal Selling

Stimulus Response

Mental States

Need Satisfaction

Problem-Solving

Consultative

Marketing Com

Review Key Terms and Concepts
career planning in sales
Career Planning in Sales
  • Develop a framework for career planning
  • Action Plan
    • ID industries in which you have passion
    • Shortlist top 10 companies by industry
    • ID 2-3 people working in those companies
    • Find a connection/IN to those people
    • Make contact with those people and gather insights
    • List types of entry-level jobs available
    • Compare existing strengths with job reqs
    • ID key contacts for jobs with best fit today.
    • Make contact with these people
    • Schedule a presentation with them
next class
Next Class
  • Read Modules 1-2 & Appendix A
  • Prepare Cases 2.1 & 2.2