View
228
Download
0
Category
Preview:
Citation preview
8/4/2019 Introduction to Sales Managemet
1/41
Oxford University Press 2005, All rightsreserved.
1
Introduction to Sales
Management
8/4/2019 Introduction to Sales Managemet
2/41
2
1. Willingness to go to batfor the buyer within thesupplier firm
2. Thoroughness and follow through
3. Knowledge of the sales persons product line4. Market knowledge and keeping the buyer posted
5. Applying his product and services to buyers needs
6. Knowledge of the buyers product line
7. Preparation for sales calls
8. Regularity of Sales calls
9. Diplomacy in dealing with operating departments
10. Technical education
Personal selling strategies
8/4/2019 Introduction to Sales Managemet
3/41
3
Persuasion
Consultative
Selling
Partnership
StrategiesBusiness
Management
Negotiation
Evolution of personal selling
8/4/2019 Introduction to Sales Managemet
4/41
4
Marketing concepts
1) Production concept
2) Product concept
3) Selling concept4) Marketing concept
5) Societal concept
8/4/2019 Introduction to Sales Managemet
5/41
Oxford University Press 2005, All rightsreserved.
5
Customer
Needs
Sales Customers
Emphasis on
Sellers Needs
Production
Production
Sales
Emphasis onCustomer
Needs
Societal marketing concept
(Sales Orie
ntation)
(Marketing Orientation)
8/4/2019 Introduction to Sales Managemet
6/41
Oxford University Press 2005, All rightsreserved.
6
Nature and role of sales
management The determination of sales force objective and goals Sales force organization, size, territory, and quota
finalization
Sales forecasting and budgeting
Sales force selection, recruitment, and training
Motivating and leading the sales force
Designing compensation plan and control systems Designing career growth plans and building
relationship strategies with key customers
8/4/2019 Introduction to Sales Managemet
7/41
Oxford University Press 2005, All rightsreserved.
7
Types of personal selling
Industrial selling
Retail selling
Services selling
8/4/2019 Introduction to Sales Managemet
8/41
Oxford University Press 2005, All rightsreserved.
8
Types of selling
Order taker sales people
Order creators
Order getters
8/4/2019 Introduction to Sales Managemet
9/41
Oxford University Press 2005, All rightsreserved.
9
Selling
Function
Order
Takers
Order Getters
Order
Creators
Outside Order
Takers
Inside Order Taker
Merchandisers
Delivery Sales
People
Missionary Sales
People
New BusinessSales People
Organizational
Sales People
Consumer
Sales People
Technical Support
sales People
Front Line
Sales People
Sales
Support
Sales
people
Types of Selling
8/4/2019 Introduction to Sales Managemet
10/41
Oxford University Press 2005, All rightsreserved.
10
Factory FactorySelling and
promotingProfits though
sales volume
Selling concept
Market concept
Market Customer
needs
Coordinated
marketing
Starting
point Focus Means Ends
Profits through
customer satisfaction
Difference between sales and marketing
8/4/2019 Introduction to Sales Managemet
11/41
Oxford University Press 2005, All rightsreserved.
11
Marketing management process
MARKET ANTICIPATION
Exchange offer of value
Producer
MarketerConsumer
Marketing mix
Product
Price
Place
Promotion
8/4/2019 Introduction to Sales Managemet
12/41
Oxford University Press 2005, All rightsreserved.
12
Formulation of a strategic sales programme
Implementation of the sales programme
Evaluation and control of sales force performance
Sales management process
8/4/2019 Introduction to Sales Managemet
13/41
Oxford University Press 2005, All rightsreserved.
13
Technology
Relationship sellingCustomer orientation
Global and ethical
Issues
New selling methods
Diversity
Emerging trends in
sales management
Emerging trends in sales management
Technology
8/4/2019 Introduction to Sales Managemet
14/41
Oxford University Press 2005, All rightsreserved.
14
Selling Skills and Strategies
8/4/2019 Introduction to Sales Managemet
15/41
Oxford University Press 2005, All rightsreserved.
15
Selling and buying styles
9
8
7
6
5
4
3
2
1 2 3 4 5 6 7 8 9
Concern
forthecustomers
(1,9) People OrientedI am customers friend,
I want to understand him and
respond to his feelings and
interests so that he will like me. It is
the personal bond that leads him to
purchase from me.(5,5) Sales technique Oriented
I have tried an effective routine for
getting a customer to buy. It
motivates through a blended
personality and product emphasis
(1,1) Take it or Leave it
I place the product before the
customer and it sells itself as and
when it comes.
(9,1) Push the product Oriented
I take challenge of the customer
and hard sell him, polling on all
the pressure it takes to make him
buy
(9,9) Problem Solving Oriented
I consult with the customer so as to
inform myself of all the needs in his
situation that my products can satisfy.
We work towards a sound purchase
decision on his part, which yield him
the benefits he expects from it.
8/4/2019 Introduction to Sales Managemet
16/41
Oxford University Press 2005, All rightsreserved.
16
Selling situations
Sales task and function
Maintenance selling
Developmental selling
8/4/2019 Introduction to Sales Managemet
17/41
Oxford University Press 2005, All rightsreserved.
17
Selling skills
Selling Skills
Listening Skills
Conflict management and
resolution skills
Negotiation and
bargaining skills
Problem
solving skills
Effective
communication
skills
8/4/2019 Introduction to Sales Managemet
18/41
Oxford University Press 2005, All rightsreserved.
18
Communication process
Noise
Channel
Feedback
Intended
Message
Sent Message
Encoding
Perceived
Message
Received
Message
Decoding
Sender Receiver
8/4/2019 Introduction to Sales Managemet
19/41
Oxford University Press 2005, All rightsreserved.
19
Communicationprocesscontd.
Managing body language:
Personal Appearance
Posture Gestures
Facial Expressions
Eye Contact
Space Distancing
8/4/2019 Introduction to Sales Managemet
20/41
Oxford University Press 2005, All rightsreserved.
20
Process of listening
Attendance
Interpretation
Evaluations
Remembrance
Response Action
8/4/2019 Introduction to Sales Managemet
21/41
Oxford University Press 2005, All rightsreserved.
21
Levels of listening
Feedback
Paraphrasing
Emphatic listening
Clarifications
Active Listening
Barriers to Listening !
8/4/2019 Introduction to Sales Managemet
22/41
Oxford University Press 2005, All rightsreserved.
22
Conflict management skills
Models of conflict
Components of conflict
The conflict resolution process:- lumping
- avoidance
- coercion
- meditation
- conciliation
- arbitration
- adjudication
- negotiation
8/4/2019 Introduction to Sales Managemet
23/41
Oxford University Press 2005, All rightsreserved.
23
Stage I
Potential
opposition or
Incompatibility
Stage II
Cognition &
Personalization
Stage III
Intentions
Stage IV
Behaviour
Stage V
Outcomes
Antecedent
Conditions
Communication
Personal Variables
Structure
Perceived
Conflict
Felt Conflict
Conflict handling
Intentions
Competing
Collaboration
Compromising
Avoiding
Accommodating
Overt Conflict
Partys
behaviour
Others
reaction
Increasedgroup
performance
Decreased
group
performance
Conflict management process
8/4/2019 Introduction to Sales Managemet
24/41
Oxford University Press 2005, All rightsreserved.
24
Negotiation skills
Situation and timing for negotiations
Formulation for a bargaining strategy
The theory and strategy of principle
negotiations- separate the people from the problem
- focus on interests, not on positions
- invent options for mutual gains
- insist on objective criteria
8/4/2019 Introduction to Sales Managemet
25/41
Oxford University Press 2005, All rightsreserved.
25
Problem solving skills
Habit I: be proactive
Habit 2: begin with an end in mind
Habit 3: put first things first
Habit 4: think winwin
Habit 5: seek first to understand, then to
be understood
Habit 6: synergize
Habit 7: renewal
8/4/2019 Introduction to Sales Managemet
26/41
Oxford University Press 2005, All rightsreserved.
26
Define the problem
Generate alternative solutions
Decide the solution
Implement the solution
Evaluate the solution
Problem solving process
8/4/2019 Introduction to Sales Managemet
27/41
Oxford University Press 2005, All rightsreserved.
27
Problem
Definition
Techniques
Find out origin of the
problem
Explore the
problem
Present desired
state analysis
Evaluate
problemstatement
Statement
and
Restatement
Dunkers
diagram
Problem definition techniques
1
2
35
4
6
8/4/2019 Introduction to Sales Managemet
28/41
Oxford University Press 2005, All rightsreserved.
28
Dunkers diagram
Achieve the desired state
Possible path to the desired state
Path 1 Path 2 Path 3
Solutions to implement & paths to desired solutions
Solution 1Solution 2 Solution 3
General Solution
Functional Solution
Specific Solution
S h i
8/4/2019 Introduction to Sales Managemet
29/41
Oxford University Press 2005, All rightsreserved.
29
Perceived problems
Re Statement
Re Statement
Final problem Statement
Relax
Constraints
Make an
Opposite
Statement
Generalize
Statement restatement technique
8/4/2019 Introduction to Sales Managemet
30/41
Oxford University Press 2005, All rightsreserved.
30
Components of a decision on the
future course of action
Situation analysis
Problem analysis
PastWhat is the fault
Decision analysis
Potential problem
Analysis
FutureHow to prevent future
faults?
8/4/2019 Introduction to Sales Managemet
31/41
Oxford University Press 2005, All rightsreserved.
31
Decision on the best solution
Approval
Planning
Carry through
Follow up
Evaluation
I
M
P
L
E
ME
N
T
A
TI
O
N
Solution implementation process
8/4/2019 Introduction to Sales Managemet
32/41
Oxford University Press 2005, All rightsreserved.
32
The Selling Process
8/4/2019 Introduction to Sales Managemet
33/41
Oxford University Press 2005, All rightsreserved.
33
Stages in the selling process
Pre-sale
preparation
Sales
Presentation
Handling
Customer
Objections
Closing the
SaleFollow up
action
Approach to
the customer
Pre-
approach
before the
interview
Prospecting
8/4/2019 Introduction to Sales Managemet
34/41
Oxford University Press 2005, All rightsreserved.
34
Prospecting
Successful prospecting
50 potential prospects
15 Qualified prospects
6 Interviews
1 sale
50 potential prospects
25 Qualified prospects
17 Interviews
7 sales
Successful prospecting
No Yes
8/4/2019 Introduction to Sales Managemet
35/41
Oxford University Press 2005, All rightsreserved.
35
Process of prospecting
Identify and define prospects
Search for sources of potential accounts
Qualify the prospects from the suspects
8/4/2019 Introduction to Sales Managemet
36/41
Oxford University Press 2005, All rightsreserved.
36
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
8/4/2019 Introduction to Sales Managemet
37/41
Oxford University Press 2005, All rightsreserved.
37
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
8/4/2019 Introduction to Sales Managemet
38/41
Oxford University Press 2005, All rightsreserved.
38
Handling customer objections
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
Suggested by SMITH
8/4/2019 Introduction to Sales Managemet
39/41
Oxford University Press 2005, All rightsreserved.
39
Methods of handling customer
objections
Superior feature method
YesBut 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
8/4/2019 Introduction to Sales Managemet
40/41
Oxford University Press 2005, All rightsreserved.
40
Closing the sale
Methods of closing the sale
Follow-up action
B2B sellingClosing sale
Definition
A transaction in which the seller's intention is
to reduce or eliminate a long position in a stock or an option
series.
8/4/2019 Introduction to Sales Managemet
41/41
Follow-Up Action
What Does Follow-Up Action Mean?
Any subsequent trading that affects an established position in a
security or derivative. Follow-up actions are taken to change the
amount of exposure an investor has in a position, or to limit a
strategy's losses or profits.Investopedia explains Follow-Up Action
For example, an investor who is long in shares of Company XYZ
may be nervous about future losses. He or she could take the
follow-up action of purchasing a put option for the stock, which
would minimize losses in the event of a downturn.
Recommended