Introduction to Sales Managemet

8/4/2019 Introduction to Sales Managemet

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Oxford University Press 2005, All rightsreserved.

1

Introduction to Sales

Management


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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


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3

Persuasion

Consultative

Selling

Partnership

StrategiesBusiness

Management

Negotiation

Evolution of personal selling


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4

Marketing concepts

1) Production concept

2) Product concept

3) Selling concept4) Marketing concept

5) Societal concept


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Customer

Needs

Sales Customers

Emphasis on

Sellers Needs

Production

Production

Sales

Emphasis onCustomer

Needs

Societal marketing concept

(Sales Orie

ntation)

(Marketing Orientation)


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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


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Types of personal selling

Industrial selling

Retail selling

Services selling


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Types of selling

Order taker sales people

Order creators

Order getters


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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


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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


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Marketing management process

MARKET ANTICIPATION

Exchange offer of value

Producer

MarketerConsumer

Marketing mix

Product

Price

Place

Promotion


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Formulation of a strategic sales programme

Implementation of the sales programme

Evaluation and control of sales force performance

Sales management process


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Technology

Relationship sellingCustomer orientation

Global and ethical

Issues

New selling methods

Diversity

Emerging trends in

sales management

Emerging trends in sales management

Technology


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Selling Skills and Strategies


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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.


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Selling situations

Sales task and function

Maintenance selling

Developmental selling


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Selling skills

Selling Skills

Listening Skills

Conflict management and

resolution skills

Negotiation and

bargaining skills

Problem

solving skills

Effective

communication

skills


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Communication process

Noise

Channel

Feedback

Intended

Message

Sent Message

Encoding

Perceived

Message

Received

Message

Decoding

Sender Receiver


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Communicationprocesscontd.

Managing body language:

Personal Appearance

Posture Gestures

Facial Expressions

Eye Contact

Space Distancing


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Process of listening

Attendance

Interpretation

Evaluations

Remembrance

Response Action


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Levels of listening

Feedback

Paraphrasing

Emphatic listening

Clarifications

Active Listening

Barriers to Listening !


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Conflict management skills

Models of conflict

Components of conflict

The conflict resolution process:- lumping

- avoidance

- coercion

- meditation

- conciliation

- arbitration

- adjudication

- negotiation


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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


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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


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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


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Define the problem

Generate alternative solutions

Decide the solution

Implement the solution

Evaluate the solution

Problem solving process


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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


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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


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Perceived problems

Re Statement

Re Statement

Final problem Statement

Relax

Constraints

Make an

Opposite

Statement

Generalize

Statement restatement technique


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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?


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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


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The Selling Process


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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


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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


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Process of prospecting

Identify and define prospects

Search for sources of potential accounts

Qualify the prospects from the suspects


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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


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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


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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


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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


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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.


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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.

Documents

Introduction to Sales Managemet