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Sales Management Assignment
Sales Management Assignment
Sales Management Assignment
Q.2 Take any product/service of your own choice & explain the Personal Selling process.
Answer 2. Persuading a customer to purchase a specific product or gadget is another name
for the practise of personal selling. It is also regarded as one of the priciest and most
successful marketing strategies ever used. It works well because the seller and the customer
are able to engage face-to-face, allowing the seller to adjust their promotional strategies as
needed.
Let’s consider the example of health insurance as a product for personal selling;
Finding the prospects- Determine which prospective clients would profit from having
health insurance. This could apply to people, families, or companies looking for all-
inclusive health insurance. To create leads, use a variety of strategies, such as
internet marketing, collaborations with healthcare providers, and involvement in
neighbourhood health events. Find out about the healthcare requirements, family
size, and current medical issues of potential clients. This data will assist in
customising the offered health insurance plans.
Approaching the leads- Before that, it is also important to examine competitors in
the health insurance sector, emphasising the special attributes, advantages, and
coverage of the insurance products on offer. This would give a substantial amount of
background for approaching the target leads. Make a strong first impression on
prospective clients by highlighting the value of health insurance and the all-inclusive
nature of the plans.
The Pitch- A Tailored Presentation; modify the presentation according to the
customer-researched data. Stress how their particular healthcare needs are met by
the health insurance programmes. Give a thorough explanation of the health
insurance plans' coverage, outlining what is covered for hospital stays, outpatient
treatment, prescription medications, and preventative care. Outline several policy
alternatives, including family, group, and individual plans, and describe the flexibility
and customization offered to satisfy a range of client demands.
Addressing queries- Be prepared to respond to any objections or worries the client
may have, including those about price, network coverage, or pre-existing medical
conditions. To foster trust, give clear and honest facts. Highlight the benefits of the
health insurance plans by contrasting them with other available options and
highlighting features such affordable premiums, extensive coverage, and network
accessibility.
Converting the lead- To entice the customer to decide to buy, provide a trial period
or extra perks. Emphasise any time-only offers, rebates, or extras that are available.
This would create a subconscious sense of hurry into the customer’s minds to make
the decision at the earliest. When guiding a customer towards a purchase decision,
use language that assumes certain things.
Aftermarket support- Help clients activate and understand their health insurance
policy. Give instructions on how to submit claims and obtain healthcare treatments.
Inquire about the client's experience with the health insurance procedure, making
sure they are satisfied and quickly resolving any issues. Continue to communicate
with clients by giving them information on new coverage options, healthcare advice,
and policy benefits updates. To encourage health and wellbeing, provide
policyholders unique events or wellness programmes. This fosters long-term
partnerships and increases client loyalty.
In this way, the personal selling process can help gain the business effectively.
Q.3 Read the case & answer the questions based on the case: Krishna Kumar, the marketing
manager of MM Marketing Company was thinking how to go about designing sales
territories, assigning salespeople to the territories and setting sales quotas, particularly as
the product was new. The new product, called Swishflow fan was a unique kind of a table
fan with attractive air-conditioner like looks. Considering the initial production capacity of
1,00,000 numbers in the first year, Krishna Kumar decided to market the product in and
around Mumbai, where the marketing and sales office was located. The target consumers
were household as well as commercial organizations, who could use this product as table-
fan and wall-mounted fan. Krishna Kumar thought that the territory design should include
geographical areas with high market potential for achieving the sales budget of 1,00,000
numbers in the first year and a growth of 25 % per year for subsequent four years. He
calculated a sales force size of seven numbers, and decided to launch the product initially in
major metros and cities in Maharashtra and Gujarat. Krishna Kumar was of the view that
sales quotas should consider sales volume, selling expense, and also number of sales calls
per day, in order to have a proper control on salespeople. He wondered how to design sales
territories, what criteria should he consider while assigning salespersons to territories, and
how to design the sales quotas considering the factors mentioned above.
Questions:
a) If you were Krishna Kumar, how would you design the sales territory?
Answer 3 a. If I were Krishna Kumar, I would use a methodical and planned technique to
create the Swishflow fan's sales areas. These are the actions and standards that I would
think about while designing the sales territory;
Market research- Analyse the market potential in and around Mumbai in-
depth, taking into account variables like competition presence, consumer
demographics, and population density. Determine which major regions have
the greatest potential for the Swishflow fan market based on the target
consumer profiles.
Setting targets- Set specific goals for sales, such as selling one million copies
in the first year and growing at a pace of twenty-five percent annually for the
next four. Set aside funds and territory in an efficient manner to meet these
sales goals.
Division based on geographical aspects- Segment the intended market into
reasonable and controllable geographic areas. Take into account elements
like the concentration of potential clients, accessibility, and distance from the
marketing and sales office. As recommended by Krishna Kumar, start the
product's initial distribution in major Maharashtra and Gujarati cities and
metropolises. These areas frequently feature denser populations and more
active businesses.
Size of the sales force- Determine the right size of sales staff by taking into
account the intricacy of the sales process and the sales targets. As Krishna
Kumar recommended a seven-person sales force, strategically distribute
resources to serve high-potential regions. Each salesman should be given a
certain territory depending on how the workload and market potential are
distributed fairly. When creating each sales region, take into account
elements like the quantity of possible clients, the area's size, and the
possibility for expansion.
Effective strategies- Divide up regions according to customer types, making a
distinction between residential and business establishments. Tailor your sales
tactics to each market niche to get the best results. Make sure every
salesperson is given a region that maximises sales possibilities and minimises
travel time for maximum efficiency. In strategically chosen territories, take
into account the possibility of cross-selling between the household and
commercial divisions.
Evaluation and adaptability- Plan areas with future expansion in mind. Think
about how territories can be enlarged or modified to meet the projected
four-year annual growth of 25%. Establish a mechanism for routinely
assessing sales territory. Changes in consumer behaviour, market conditions,
or the effectiveness of certain salespeople can all be taken into account when
making adjustments.
Following the above strategies to design the sales territories, Swishflow’s market
can flourish by garnering incredible sales with the effective sales team and help
achieve the set targets.
b) Suggest a suitable selling strategy for the new launch
Answer 3 b. While launching a new product, you draw in both corporate and consumer
purchasers and spread awareness of your brand and company. Your product launch
should be educational and interesting, but achieving these objectives is not always
simple. There are a number of things you can do as you prepare to launch your new
product to ensure its success. For the new Swishflow fan introduction, a complete and
focused approach to maximise product visibility, raise awareness, and boost sales is a
good selling strategy. In order to effectively introduce the Swishflow fan and create a
robust market presence, a multifaceted marketing approach is required. The following
essential components should be included in this strategy: