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Overview of Sales Management
Overview of Sales Management
IIPM, BHUBANESWAR
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Sales Management
SALES MANAGEMENT IS ABOUT LEADING THE PEOPLE AND PROCESS YOUR COMPANY USES TO SELL ITS PRODUCTS AND SERVICE TO CUSTOMERS. GOOD SALES MANAGEMENT IS ONE OF THE SIMPLEST WAYS TO INCREASE YOUR REVENUE & PROFITABILITY.
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MARKETING
MARKETING IS A PROCESS BY WHICH: ONE IDENTIFIES THE NEEDS & WANTS OF PEOPLE. ONE CREATES A PRODUCT/SERVICES TO MEET THE NEEDS & WANTS. ONE DETERMINES A WAY TO TAKE THE ABOVE PRODUCT /SERVICE TO THE MARKET PLACE. ONE DETERMINES THE WAYS OF COMMUNICATING PRODUCT/SERVICE TO THE MARKET PLACE(PROMOTION). ONE DETERMINES THE VALUE FOR THE PRODUCT.(PRICE) ONE DETERMINES THE PEOPLE WHO HAVE THE NEED OF THE ABOVE PRODUCT/SERVICES AND THEN CREATING A TRANSACTION FOR EXCHANGING THE PRODUCT FOR A VALUE AND THUS CREATING A SATISFACTION TO THE BUYERS NEEDS/WANTS.
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THE
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MARKETING
ORIENTATIONS OF THE FIRMS
1.
2. 3. 4.
PRODUCT ORIENTATION
SALES ORIENTATION PRODUCTION ORIENTATION MARKETING ORIENTATION:- CUSTOMER ORIENTATION - ORGANISATIONAL ORIENTATION - MUTUALLY BENEFICIAL EXCHANGE
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SALES
SALES IS A PROCESS BY WHICH: ONE IDENTIFIES THE PEOPLE WHO HAVE A NEED. (PROSPECTING) ONE DETERMINES THE NEEDS OF THE PEOPLE. ONE DETERMINES A WAY OF FINDING A SOLUTION TO THE PROSPECTS PROBLEMS.(PROPOSE). ONE DETERMINES THE WAY OF COMMUNICATING YOUR PRODUCT AS A SOLUTION.(RECOMMENDING) ONE DETERMINES THE VALUE FOR THE PRODUCT FOR THE PROSPECT.(ADVOCATING YOUR PRODUCT) ONE DETERMINES/SELLS BENEFITS OF THE PRODUCT TO THE PROSPECT.(SELLING BENEFITS) AND THEN CREATING A TRANSACTION FOR EXCHANGING THE PRODUCT FOR A VALUE.(CLOSING THE SALE) AND THUS CREATING A SATISFACTION TO THE BUYERS NEEDS/WANTS. A SALE IS THE PINNACLE OF ACTIVITY INVOLVED IN SELLING PRODUCTS OR SERVICES IN RETURN FOR MONEY OR OTHER COMPENSATION. IT IS AN ACT OF COMPLETION OF COMMERCIAL ACTIVITY.
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MARKETING-SALES LINKAGES
MARKETING AND SALES ARE DIFFERENT BUT THEY HAVE THE SAME GOAL. MARKETING IMPROVES THE SELLING ENVIRONMENT AND PLAYS A VERY IMPORTANT ROLE IN SALES. MARKETING IS EVERYTHING YOU DO TO REACH AND PERSUADE PROSPECTS. SALES PROCESS IS EVERYTHING THAT YOU DO TO CLOSE THE SALE AND GET A SIGNED AGREEMENT OR CONTRACT. STRATEGICALLY COMBING BOTH EFFORTS YOU WILL EXPERIENCE A SUCCESSFUL AMOUNT OF BUSINESS GROWTH.
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1.
TWO GREATEST TRUTHS ABOUT SELLING:ALL THINGS BEING EQUAL, BUYERS PREFER TO BUY FROM SALESPEOPLE THEY KNOW, LIKE AND RESPECT. ALL THINGS NOT BEING EQUAL, BUYERS STILL PREFER TO BUY FROM SALESPEOPLE WHOM THEY KNOW, LIKE AND RESPECT.
2.
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SELLING
SELLING IS A PROCESS OF PERSUASION TO GET A PROSPECTS TO TAKE ACTION. SELLING IS FINDING A NEED AND FILLING THAT NEED.
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SELLING
NEW RULES TO SELLING:
ABILITY TO LISTEN. ABILITY TO EMPATHIZE. HAVE A STRONG DESIRE TO LEARN AND BE COACHABLE. A POSITIVE ATTITUDE CARE BUT NOT THAT MUCH
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PROCESS OF SELLING
PROCESS OF SELLING
OBTAINING DEMAND
PROSPECTING
STORAGE
AVAILABILTY
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SALESMANSHIP
SALESMANSHIP IS THE PRACTICE OF INVESTIGATING & SATISFYING CUSTOMER NEEDS THROUGH A PROCESS THAT IS EFFICIENT, FAIR, SINCERE, MUTUALLY BENEFICIAL, AND ARRIVED AT LONG-TERM PRODUCTIVE RELATIONSHIP. SALESMANSHIP IS THE ART OF SUCCESSFULLY PURSUADING PROSPECTS OR CUSTOMERS TO BUY PRODUCTS OR SERVICES FROM WHICH THEY CAN DERIVE SUITABLE BENEFITS, THEREBY INCREASING THEIR TOTAL SATISFACTION (I.J. SAPIRO). SALESMANSHIP IS SELLER-INTIATED EFFORT THAT PROVIDES PROSPECTIVE BUYERS WITH INFORMATION AND OTHER BENEFITS, MOTIVATING OR PURSUADING THEM TO DECIDE IN FAVOUR OF SELLERS PRODUCT OR SERVICE. SALESMANSHIP IS A PERSONAL ACTION OR EFFORT ON THE PART OF AN INDIVIDUAL WHICH IS INTENDED TO BRING ABOUT THE SALE OF THE GOODS. MORE BROADLY SPEAKING, SALESMANSHIP IS THE ART OF SELLING SOMETHING TO SOMEBODY.
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SALESMANSHIP
SALESMANSHIP IS GETTING GOODS FROM WHERE IT IS MADE TO WHERE IT IS NEEDED.THE TYPES OF SALESMANSHIP ARE : ROUTINE SALESMANSHIP : MERE ORDER TAKERS CREATIVE SALESMANHIP:EDUCATE THE UNWILLING CUSTOMER. TWO COMMON TERMS USED TO DESCRIBE SALESMAN ARE: 1.FARMERS: CREATES SALES DEMAND BY ACTIVITIES THAT DIRECTLY INFLUENCE AND ALTER THE BUYING PROCESS 2.HUNTERS: FOCUS IS ON BRINGING DEALS AND CLOSING DEALS. A GOOD SALESMAN SHOULD BE ABLE TO : UNDERSTAND THE NEEDS OR PROBLEMS OF CUSTOMERS. COMMUNICATE THE VALUE OF YOUR PRODUCT OR SERVICES TO YOUR PROSPECTS POWERFULLY.
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PERSONAL SELLING
THE HOLISTIC BUSINESS SYSTEM REQUIRED TO EFFECTIVELY DEVELOP, MANAGE, ENABLE, AND EXECUTE A MUTUALLY BENEFICIAL, INTERPERSONAL EXCHANGE OF GOODS AND /OR SERVICES FOR EQUITABLE VALUE.(AMERICAN SOCEITY FOR TRAINING AND DEVELOPMENT-ASTD). PERSONAL SELLING IS ORAL COMMUNICATION WITH POTENTIAL BUYERS OF A PRODUCT WITH THE INTENTION OF MAKING A SALE. THE PERSONAL SELLING MAY FOCUS INITIALLY ON DEVELOPING A RELATIONSHIP WITH THE POTENTIAL BUYER, BUT WILL ALWAYS UTLIMATELY END WITH AN ATTEMPT TO CLOSE THE SALE. PERSONAL SELLING IS A FACE-TO-FACE ACTIVITY: CUSTOMERS THEREFORE OBTAIN A RELATIVELY HIGH DEGREE OF PEROSNAL ATTENTION.
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2.
3. 4. 5. 6. 7.
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2.
3. 4. 5. 6. 7.
4.
5. 6.
PERSUASIVE COMMUNICATORS.
ALWAYS STRIVE FOR SELF-IMPROVEMENT. HAVE POSITIVE SELF ESTEEM. A GREAT SALES EXECUTIVE IS SOMEONE WHO HAS A WORKING KNOWLEDGE OF THEIR COMPANYS OPERATIONS, PRODUCTS AND SERVICES, POSSESSES THE ABILITY TO COLLECT USEFUL BUSINESS SALES INTELLIGENCE ABOUT THEIR ACCOUNTS AND TRANSLATE THE INFORMATION INTO ADDITIONAL SALES.
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BUYER-SELLER DYADS
SOCIOLOGISTS USE THE TERM DYAD TO DESCRIBE A SITUATION IN WHICH TWO PEOPLE INTERACT. TRUST FORMS BETWEEN PEOPLE, INDIVIDUALS. BUT COMMITMENT FORMS BETWEEN FIRMS. THE RELATIONSHIP BETWEEN BUYERS-SELLERS NEED TO BECOME STRATEGIC AND PROCESS OF RELATIONSHIP DEVELOPMENT NEEDS TO BE ACCELERATED FOR FIRMS TO ACHIEVE THEIR GOALS. A COLLABORATIVE OR COOPERATIVE STRATEGY BETWEEN BUYERSELLER HELPS BOTHS PARTIES ACHIEVE LOWER COSTS AND BETTER PROFIT MARGINS.
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BUYER-SELLER DYADS
STAGES IN RELATIONSHIP DEVELOPMENT PARTNER SELECTION SETTING CREATING DEFINING RELATIONSHIP RELATIONSHIP PURPOSE BOUNDARIES VALUE RELATIONSHIP MAINTENANCE
VARIABLE
REPUTATION PERFORMANCE SATISFACTION TRUST SOCIAL BONDS COMPARISON OF LEVEL OF ALTERNATIVES MUTUAL GOALS POWER/DEPENDENCE TECHNOLOGY NONRETRIEVABLE INVESTMENTS ADAPTATIONS STRUCTURAL BONDS COOPERATION COMMITMENT
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SALESPERSON
CUSTOMER
PERSONAL CHARACTERISTICS
PERSONAL CHARACTERISTICS
PERSONAL AFFILIATION
ADJUSTMENTS
CHOICE OF STRATEGY
CHOICE OF STRATEGY
NEGOTIATION
ADAPT EXCHANGE
ADAPT
STOP
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BUYER-SELLER DYADS
STAGE OF RELATIONSHIP DEVELOPMENT STAGE-I PRE-RELATIONSHIP STAGE ACTIVITIES - SEARCH FOR POTENTIAL PARTNERS FROM OUTSIDE AND INSIDE SOURCES -EVALUATE & SELECT POTENTIAL PARTNERS BASED ON SOCIAL & ECONOMIC ASPECTS. -FINDING MORE INFORMATION AND CROSSCHECKING PARTNERS COMPETENCY. -MATCHING NEEDS & CAPABILITIES. - MAKE INITIAL CONTRACT -ESTABLISH RAPPORT WITH PARTNERS -TESTING FOR COMPATIBILITY OF PARTNERS -TESTING FOR COMPATIBILITY OF PARTNERS -DETERMINING & DEFINING MUTUAL GOALS. - JOINT PLANNING OF ACTIVITIES,RESPONSIBILITIES & RELATIONSHIPS. -DEVELOP PERSONAL RELATIONSHIP & TRUST. -DIRECT INVOLVEMENT THROUGH REGULAR CONTACT AND SOCIALISATION -LITTLE COMMITMENT TOWARDS TRIAL TRADING ACTIVITIES -ADAPTATION AND ADJUSTMENTS THROUGH AGREEMENT, NEGOTIATION & SELF-CONTROL.
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BUYER-SELLER DYADS
STAGE OF RELATIONSHIP DEVELOPMENT STAGE-IV LONG-TERM STAGE ACTIVITIES - INCREASED COMMITMENT & RECOGNITION OF MUTUAL BENEFITS THROUGH INSTITUTIONALISED CONFLICT RESOLUTION PROCESS. -DEVELOPMENT OF INTER-ORGANISATIONAL & MEMBER ADAPTATIONS. -ONGOING TRADING ACTIVITIES. - LONG TERM REWARDS BASED ON MUTUAL BEHAVIOUR & TRUST. - TERMINATION BASED ON EXTENT OF MUTUAL INTEREST & COST BENEFIT ANALYSIS OF CONTINUING IN THE RELATIONSHIP.
ADAPTED FROM ANDERSON & NAURUS; DWYER, SCHURR & OH; FORD; GRUNDLACH, ACHROL & MENTZER; HAKASNSSON;MORGAN & HUNT; WILSON.
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PERSONAL SELLING
DIRECT FACE-TO-FACE COMMUNICATION BETWEEN SELLERS AND POTENTIAL BUYERS. EMPHASIS ON LONG-TERM RELATIONSHIP BUILDING. HIGHLY INTERACTIVE TOOL OF PROMOTION. BEST SUITED FOR COMPLEX NATURE OF PRODUCTS AND SERVICES. MAKES USE OF SALESMANSHIP TECHNIQUES. MEANS OF MOTIVATING OR PERSUADING YOUR PROSPECT TO BUY. FORMS OF PERSONAL SELLING : ORDER TAKER ORDER GETTER SALES SUPPORT PERSONNEL.
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PERSONAL SELLING
OBJECTIVES OF PERSONAL SELLING : BUILDING PRODUCT AWARENESS CREATING INTEREST PROVIDING INFORMATION STIMULATING DEMAND REINFORCING THE BRAND
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SALES FORCE
MAIN ROLES OF A SALES FORCE:PROSPECTING COMMUNICATING SELLING SERVICING INFORMATION GATHERING ALLOCATING TASKS PERFORMED BY THE SALESFORCE IN THE PROCESS OF SELLING:SALES DEVELOPMENT SALES MAINTENANCE
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SALES FORCE
THE OBJECTIVES OF SALES FORCE ARE: QUALITATIVE OBJECTIVES : RELATE TO METHOD OF SALES FORCE OPERATIONS. QUANTITATIVE OBJECTIVES : MEASURABLE ACTIONS BY THE SALES FORCE SALES FORCE STRATEGIES : STRATEGIES FOR GAINING MARKET ACCESS ACCOUNT RELATIONSHIP STRATEGIES.
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A KEY TO SUCCESS
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Attention
Interest
Conviction
Desire
Action
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Define Problem
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Selling Foundations
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Behave Ethically
Understand Buyer Behavior Possess Excellent Communication Skills
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FOLLOWING UP CLOSING THE SALE HANDLING OBJECTIONS MAKING THE SALES PRESENTATION APPROACHING THE PROSPECT
Pre-approach (Qualifying)
Finding and analyzing information about prospects Evaluating a prospects potential IIPM, BHUBANESWAR
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Overcoming Objections
IF HE HADNT TOLD ME WHAT HIS OBJECTION WAS, I NEVER WOULD HAVE BEEN ABLE TO HELP!
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