MODULE - 5.ppsx

Empowering
African Entrepreneurs
THE TEF BUSINESS MANAGEMENT

TRAINING PROGRAMME
MODULE 5
IMPLEMENTING MARKETING PLAN AND IMPROVING SALES

OUTCOMES
1 www.tonyelumelufoundation.org
Empowering
01 Sales Methodology and Framework
02 Marketing Methodology and Framework

CONTENTS
TABLE OF
03 Leveraging Technology in Sales and Marketing Outcome
04 Implementing Marketing Strategy and Plan
05 Effective Customer Retention Skills
06 Pricing Strategy
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OVERVIEW OBJECTIVES
This Module covers the entire conceptual and operational framework of

At the end of the training, participants will be able to;
marketing and sales. It expounds the importance and functionality of
marketing and sales in the overall gamut of business management; operations,  Understand sales management and its concepts.
growth and profitability.
 Identify the qualities a Salesperson should have.
Imperatives of marketing and sales are the functionalities and relational
 Understand the concept of marketing and the various marketing mix.
nature; the ability to bring about a change in business conception,
 Learn how to leverage technology to improve sales and marketing outcomes.
establishment and operations; vision, mission, values, operations,
 Identify customer retention skills and various pricing strategy available to
management and consequently, return on investments.
MSMEs.
Thus, every business practitioner or entrepreneur should be adequately
equipped and adept to learn the seemingly complex but integrated terms,
theories and practices of successful marketing and sales management.
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1.0 SALES METHODOLOGY AND FRAMEWORK
SALES MANAGEMENT AND ITS QUALITY CUSTOMER SERVICE

CONCEPT MODEL
Sales management is the process of developing a sales force, coordinating sales
The focus of a good customer service model is to increase customer
operations, and implementing sales techniques that allow a business to
satisfaction while decreasing or minimizing customer conflict. Successful
consistently hit, and even surpass, its sales targets.
The primary focus of a sales manager is to maximize profit for the company while businesses worldwide ensure the implementation of business models that
delivering the best possible value to customers. focus on an atmosphere of service.
These customer service models include strategies for getting customer
feedback, retaining angry or unsatisfied customers and continually updating

The sales person is the driver of the sales management process and activities. policies and services to meet customers' needs.
Along with his team, he generates and increases sales by ensuring customers
constantly buy enough of the company’s products/services.
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A good customer service model built on professionalism would include:

 Competence
 Reliability
 Credibility
 Responsiveness
 Courtesy
 Accessibility
 Understanding
 Communication
 Client Information System
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2.0 MARKETING METHODOLOGY AND

FRAMEWORK
MARKETING VERSUS
SALES
Marketing consists of all those activities that are associated

with product planning, pricing, promoting and distributing the
product or service.
Selling focuses on the seller needs whereas marketing
concentrates on the needs of the buyer.
Selling is the marketing process and act of stimulating,

achieving and sustaining buying, while marketing is the
management process of meeting and satisfying the customer
needs.
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MARKETING MIX
Place
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its Promotion
Price
brand or product in the market. They are the 4’Ps ; The Product, The Price, The Place, and The
Promotion.
7 P’s
An Importance of the marketing mix is that it is a tool for creating the right marketing strategy
Marketing Mix
Process
and its implementation; through evolving effective tactics; based on assessment of the roles of
People
the 5’s in the overall marketing approach.
Product Physical
MARKETING MANAGEMENT: POTENTIAL FOR BUSINESS evidence
GROWTH
Marketing management is a process which drives the marketing system of a

company and smoothens the process of exchange of ownership of goods and
services from seller to the buyer. Marketing management aims at efficient
operation of marketing activities.
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3.0 LEVERAGING TECHNOLOGY IN SALES

OUTCOME
EVOLUTIONS…REVOLUTIONS: OUR DIGITAL WORLD DIGITAL MEDIA: ROLE OF TECHNOLOGY IN SALES
Our study defines Evolution in an organization as prolonged periods of growth The digital world and digital media affect everyone and businesses; causing
where no major upheaval occurs. Revolution on the other hand, are those a true paradigm shift, turning consumers into the engaged citizens of the new
periods of substantial turmoil in an organization’s life. digital democracy.
Evolution is slow and irreversible while Revolution is fast and reversible. Digital Media is digitized content that can be transmitted over the internet or
The nature of management's solution to each revolutionary period determines computer networks. This can include text, audio, video, and graphics.
whether a company will move forward into its next stage of evolutionary Examples are news from a TV network, newspaper, magazine, etc. Most
growth. digital media are based on translating analog data into digital data.
For organizations, the choice of revolutionary or evolutionary change is

generally thrust upon them by powerful internal or external factors.
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BENEFITS OF TECHNOLOGY
 Technology Improves the sales communications process

 It supports effective presentation (launch) of products and services
 It improves processes of finding qualified prospects and, turning
them into customers and improves relationships with customers
 By using technology to save time and energy, employees can focus
more intently on providing customers with an excellent experience.
 Technology is also used to getting more productive work done; to
finish projects, save money, and ultimately increase sales.
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4.0 LEVERAGING TECHNOLOGY IN MARKETING

OUTCOMES
CONCEPT OF LEVERAGING TECHNOLOGY: LEVERAGE MARKETING?
The world has become a global, technology driven village and technology has
Businesses need to leverage technology to establish a long-term competitive
undeniably become an integral part of our daily lives.
advantage and promote growth.
A 2015 Mail Online report indicated that the typical person spends an average of
Leveraging Technology refers to the use of technology to make significant eight hours and 41 minutes a day on electronic media devices; more than an average
changes in a business. Investments on Technology pay off in an exponential night’s sleep.
return on business success, growth and profitability. By leveraging technology, an organization will not only enact change today but also
Also, marketing leverage is the ability to control and generate large profit prepare for innovations in the years ahead.
increases from low-cost or no-cost marketing methods. With the creation of Imperatives for leveraging technology for business growth include; knowing your
Facebook in February of 2004 and Twitter in March of 2006, marketing has business goals for the year ahead, seeking strategic alignment with your IT partner,
continued to leverage on these technological tools to enhance performance dedicating the time to seek innovation, encouraging a culture of change and ideas and
and increase bottom-line. tracking the progress and staying open to new ideas and strategies.
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5.0 IMPLEMENT MARKETING STRATEGY AND

PLAN STEPS TO IMPLEMENTING A MARKETING
MANAGEMENT INFORMATION PLAN
SERVICES
MIS is short for management information system or management information
services. Implement plan & measure results
Management information system, or MIS, broadly refers to a computer-based

system that provides managers with the tools to organize, evaluate and efficiently
Analyse your company and competition
manage departments within an organization.
 Process control Human resource

Build Campaign with topic Clusters
 Sales and marketing;
 Inventory control;
 Office automation Develop Buyer Persons
 Enterprise resource planning
 Accounting and finance

Set SMART Marketing Goals
 Management reporting
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6.0 INNOVATING AND PIVOTING
INNOVATING & CREATIVITY: THE MAD THE M A D CONCEPT: MAKING A

CONCEPT DIFFERENCE
Creativity has been identified as the most important business skill. Our study Creativity and innovation often lead to differentiation. By paying attention to
defines creativity as the generation of ideas in the attempt to solve a problem what consumers really want, companies can attract new customers and create a
or produce something new. distinctive brand.
Innovating means to introduce something new; i.e., for the first time, or to
Making a difference (M A D) or product differentiation is based on developing
make changes in anything established. Innovation is the implementation phase
and promoting the “new, improved” or unique features and benefits of a product.
of Creativity.
M A D Benefits: Innovating and Creativity; sets you apart in the market; creates a
There are three different kinds of innovation; used to differentiate your
competitive advantage and creates incremental revenue opportunities.
product from the competition. These are; Leader/CEO-led Innovation, Product
Research shows that people are willing to pay for innovation, sometimes as much
Team-led Innovation and CFO-led Innovation.
as 40% more, depending on your product category.
Creativity and innovation are important for business because they bring about;
catalyst for change; higher degree of efficiency; increased productivity; better
quality; more competition and greater Reward.
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TIPS TO SUCCESSFUL PIVOTING
Pivoting should only be considered when absolutely necessary; when all other options have been exhausted. Our study highlights conditions whereby a company
would require to pivot. These include:
 Your company is always playing catch-up

 There’s too much competition
 Your company has hit a plateau
 One thing gets the most traction
 Limited response from your marketplace
 Your perspective has hanged
 Knowing when it’s time to persevere and when it’s time to quit
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7.0 EFFECTIVE CUSTOMER RETENTION

SKILLS
THE CUSTOMER: UNDERSTANDING THE CUSTOMER 5 STAGES OF CUSTOMER LOYALTY
The customer (or buyer) is defines as a person or organization with a want or  Stage 1) Reach: Reach out and make first contact with a potential client.
need and is willing to give money or some other personal resource to address  Stage 2) Acquisition: Prospect’s attention received and first official
this need. A customer is a person or company that receives, consumes or buys communication made.
a product or service and can choose between different goods and suppliers.  Stage 3) Conversion: Making the sale by deploying all sales training.
Customers need to be understood and so is their needs and expectations.  Stage 4) Retention: Implementing steps to keep the client by standing out
Marketing and sales exist to help organizations understand, reach out, and from most others in the marketplace.
deliver value to their customers. For this reason, the customer is considered
 Stage 5) Advocacy: Client becomes collector or reviews, facilitator
the cornerstone of business enterprise…The Customer Is King!
referral or brand ambassador
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7 WAYS TO KEEP YOUR CUSTOMERS ENGAGED AND

SATISFIED:
According to Kiss metrics, it’s nearly 7 times less expensive to retain an existing customer than to gain a new one. Good customer retention practice converts your
customers into brand ambassadors – if they like you, they’ll refer others to you (for free!).
 Stay in touch and encourage their interaction: Anticipate their future challenges, suggest new solutions, and offer promotions, rewards programs, product
updates and other interesting and relevant content.
 Make the most of social media: Take advantage of social media to show how your brand is listening and cares about your customers.
 Get personal: Recognize loyal customers by name and make your business a friendly and accommodating partner in your customers’ eyes.
 Problem solve: When customers have problems, ensure they can speak in person or by phone with a real, sympathetic, well-informed, motivated person;
ideally a problem solver.
 Take responsibility: Strive for and tie your brand to a good reputation. When problems arise, admit to your mistakes and apologize if necessary.
 Keep good time: Don’t take too long to respond to customer dilemmas. A survey of consumers revealed that 24 hours or less is widely considered an
acceptable email response time.
 Bow out gracefully: If losing a customer is unavoidable, always end the relationship on a good note.
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8.0 PRICING STRATEGY

PRICING STRATEGIES IN
MARKETING
Imperative to getting the product off the shelf is that the customer pays a price
in exchange for the product. The organisation devises a way or strategy of Various pricing strategies:
finding a competitive price for its product or a service.
 Penetration Pricing or Pricing to Gain Market Share

Pricing is a result of several calculations, research work, risk taking ability and  Economy pricing or No Frill Low Price
understanding of the market and the consumers.
 Use of Psychological Pricing Strategies
Pricing strategy is focused on generating and increasing the revenue for an
 Pricing Strategies of Product Line
organization, which ultimately determines the business profit.
 Pricing Optional Products
A company’s management considerations in pricing a product or service are
 Pricing of Captive Products
influenced by; the segment of the product; the ability of a consumer to pay for
 Pricing for promotions
the products; the conditions of the market; the action of the competitor; the
 Pricing as Per Geographic Locations
cost of production or manufacturing and the margin or the profit margins.
 Value Pricing a Product
 Pricing of Premium Products
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RESOURCES
STAGE MODULE TOPIC
INTERMEDIATE MODULE 4 IMPLEMENTING MARKETING PLAN AND IMPROVING SALES OUTCOME

COURSES
RESOURCES FOR MODULE 4
Ex. 1 As the Managing Director of a manufacturing company, you have been given a target of $25million volume for year 2020 explain the
marketing strategies would you adopt to achieve this target and even exceed the target.

Ex. 2 Your company is a manufacturer of men’s shoes and you have just created a Facebook page to promote your new product lines. What will
be your message to the audience and how would you track responses and convert them into sales?

Ex. 3 As a Chief Marketing Officer of your organisation and in the face of declining consumer patronage and sales, what pricing strategy can you
adopt to improve sales?

Further Reading www.amazon.com (Pivot to the Future: Discovering Value and Creating Growth)
Link www.insivia.com (7 Successful Marketing Strategies for Technology, Software)
blog.breezyhillmarketing.com, (How to Increase Sales with Digital Marketing)
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CASE STUDY 1
CATERPILLAR, INC
For the last century, Caterpillar has worked to establish its global dominance of the construction equipment industry. Thirty years ago, after six decades of uninterrupted
growth in sales and market dominance, CAT had a close brush with death. The company had been doing battle in the marketplace with its traditional American competitors-
International Harvester and several others. And, as usual, Caterpillar was winning.

Suddenly, without much warning, new offshore competitors entered the fray-most importantly, Komatsu, a Japanese maker of construction equipment. The entire market was
disrupted, and Komatsu specifically had set out a global challenge to encircle Caterpillar and overcome her in all market areas. For over 60 years, Caterpillar had built a
premium, dominant product offering in its business sector. As Komatsu made its entry, Caterpillar soon began to lose grounds in her sales volume and share of the market.

The Komatsu brand offered a market-driven operations structure. It offered very low prices; compared to Caterpillar’s. It also offered product trial and usage as well as a
better level of durability and reliability than other competitive products.
To regain its brand leadership position, sales and profitability, the Caterpillar brand re-positioned as a products-driven company. It had the knowledge that their products
have more selling value than competitors’ offerings and thus, evolved a marketing plan based on a combination of products performance, reliability, resale value and ultimate
life/ durability.
Thus, Caterpillar survived the “Asian Flu” and regained its brand dominance by reexamining its business strategy and repositioning its product offerings in the marketplace.
 Identify the factors that contributed to Caterpillar’s initial loss of sales and market share.
 Briefly differentiate between a products-driven company and a market-driven company.
 Due to influx of competition, your company is experiencing dwindling sales of your major product, which of the two would you adopt to improve sales? How?
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CASE STUDY 2
THE NEW YORK TIMES

To meet up with the varied interests of her readers and match the vast changing demands of the business sector, the New York Times adopted Digital Technology to introduce
new features into its Newspaper brand.
The New York Times was experiencing losses in readership and sales due to a myriad of reasons. Along with the competition and cost, as well as the following factors which
were the reasons for the difficulties:
1. Coverage (Users are unhappy about something they read)
2. Life-changing event (moving).
3. Lack of usage.
4. Irrelevant content.
Adopting a new business approach, the overall goal was to build incentives amongst the sea of news APPS on its website, many of which are free. Secondly, is to lead to lasting
habits for readers of The New York Times app. Thirdly, is to help them retain their long-term loyalty. Instead of overhauling the existing NYT APP, a subtle and useful feature to
that landing page called Timely was added. This enables the user to receive notifications at opportune moments throughout a busy day: at breakfast, commute, before a meeting,
during a coffee break or right before bed.
These notifications will assist the user to open Timely and access articles. It will take only a short time to read. Most importantly, the articles are catered to each user based on
their interests and habits. By adapting; changing and developing the new APP designs The New York Times created the best reader experience. This has ensured the continuing
growth and profitability of the New York Times.
Which is applicable in the New York Times experience: Innovation or Pivoting? Briefly discuss.
Examine your company’s product or service. What new business approach and leveraging Technology can you recommend? List 5
Chose a particular product or service offered by your company. List your customers’ needs regarding the product or service. How well are those needs been met?
To read the extended lesson content ! Please click the link below:
Intermediate Module 4 - Implementing Marketing Plan
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Empowering

THE TEF BUSINESS MANAGEMENT

IMPLEMENTING MARKETING PLAN AND IMPROVING SALES

01 Sales Methodology and Framework

02 Marketing Methodology and Framework

03 Leveraging Technology in Sales and Marketing Outcome

04 Implementing Marketing Strategy and Plan

05 Effective Customer Retention Skills

This Module covers the entire conceptual and operational framework of

1.0 SALES METHODOLOGY AND FRAMEWORK

SALES MANAGEMENT AND ITS QUALITY CUSTOMER SERVICE

delivering the best possible value to customers. focus on an atmosphere of service.

These customer service models include strategies for getting customer

feedback, retaining angry or unsatisfied customers and continually updating

A good customer service model built on professionalism would include:

2.0 MARKETING METHODOLOGY AND

Marketing consists of all those activities that are associated

Selling is the marketing process and act of stimulating,

Marketing management is a process which drives the marketing system of a

3.0 LEVERAGING TECHNOLOGY IN SALES

EVOLUTIONS…REVOLUTIONS: OUR DIGITAL WORLD DIGITAL MEDIA: ROLE OF TECHNOLOGY IN SALES

For organizations, the choice of revolutionary or evolutionary change is

 Technology Improves the sales communications process

4.0 LEVERAGING TECHNOLOGY IN MARKETING

CONCEPT OF LEVERAGING TECHNOLOGY: LEVERAGE MARKETING?

changes in a business. Investments on Technology pay off in an exponential night’s sleep.

5.0 IMPLEMENT MARKETING STRATEGY AND

Management information system, or MIS, broadly refers to a computer-based

 Process control Human resource

 Office automation Develop Buyer Persons

 Enterprise resource planning

 Accounting and finance

6.0 INNOVATING AND PIVOTING

INNOVATING & CREATIVITY: THE MAD THE M A D CONCEPT: MAKING A

TIPS TO SUCCESSFUL PIVOTING

 Your company is always playing catch-up

7.0 EFFECTIVE CUSTOMER RETENTION

7 WAYS TO KEEP YOUR CUSTOMERS ENGAGED AND

8.0 PRICING STRATEGY

 Penetration Pricing or Pricing to Gain Market Share

INTERMEDIATE MODULE 4 IMPLEMENTING MARKETING PLAN AND IMPROVING SALES OUTCOME

THE NEW YORK TIMES

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