NEW DIPLOMATS COLLEGE

The Ethiopian TVET-System

Marketing and Sales Management Level III

Learning guide

MODULE TITLE: MAINTAIN BUSINESS

RELATIONSHIP

MODULE CODE: LSA MSM3 06 1221

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. LO: 1 Maintain close contact with business customers

Contact personnel are individuals designated to handle communication

and interaction with external parties, such as customers, clients, suppliers, or the general
public. These individuals play a crucial role in representing the organization and ensuring
effective communication and relationship management.

Roles of Contact Personnel

Customer Service Representatives: - These individuals are responsible for addressing
customer inquiries, resolving issues, and providing information about products or services.
Sales Representatives: - Sales personnel are tasked with promoting and selling products or
services to potential customers.
Public Relations Officers: - PR officers manage the public image of the organization, handle
media inquiries, and develop communication strategies.
Human Resources Representatives: - HR personnel interact with current and potential
employees, handling recruitment, on boarding, and employee relations.
Technical Support Staff: In technology-focused organizations, technical support personnel
assist customers with troubleshooting and resolving technical issues.
Administrative Assistants: They often serve as the first point of contact for an organization,
managing incoming calls, scheduling appointments, and handling administrative tasks.
B. Importance of Contact Personnel
Customer Satisfaction: Contact personnel directly impact customer satisfaction through
their interactions with clients and customers.
Brand Image: They contribute to shaping the brand image by delivering consistent
messaging and positive experiences to external parties.
Relationship Management: Contact personnel play a key role in building and maintaining
relationships with stakeholders, including customers, suppliers, and partners.
Crisis Management: During challenging situations or crises, contact personnel are often at
the forefront of managing communication to mitigate negative impacts.
Market Insights: Through their interactions with external parties, contact personnel can
gather valuable insights into market trends and customer preferences.

C. Training and Development

Organizations invest in training programs to equip contact personnel with the necessary skills
and knowledge to excel in their roles. Training may cover areas such as effective
communication, conflict resolution, product knowledge, customer service techniques, and
technology usage.
D. Technology and Contact Personnel
Advancements in technology have transformed the way contact personnel operate. Customer
relationship management (CRM) systems, live chat support software, social media
management tools, and automated response systems have become integral to enhancing the
efficiency and effectiveness of contact personnel.

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E. Challenges faced by Contact Personnel
Handling Difficult Customers: Dealing with irate or demanding customers requires patience
and de-escalation skills.
Workload Management: Balancing multiple inquiries or tasks simultaneously can be
demanding for contact personnel.
Adapting to Change: With evolving technologies and communication channels, contact
personnel must adapt to new methods of interaction.
Maintaining Consistency: Ensuring consistent messaging and service quality across
different contact personnel can be a challenge for organizations.

Supply chain efficiency

A supply chain is an entire system of producing and delivering a product or service, from the
very beginning stage of sourcing the raw materials to the final delivery of the product or
service to end-users.
Supply chain efficiency is defined as the internal standard of performance of an organization,
while supply chain effectiveness is the external standard of performance.
Supply chain efficiency refers to the ability of an organization to manage its supply chain
operations in a way that maximizes customer value while minimizing costs, time, and resources.

Supply Management
Supply chain management refers to the coordination and oversight of various activities
involved in the production, distribution, and delivery of goods or services from their source to
the end consumer. This entails everything from sourcing the raw components for a product to
delivering the final result directly to the consumer.

Supply chain managers have two key responsibilities:

1. Ensure that customers can obtain products.
2. Ensure that the manufacturer can obtain the materials they need to create the product.

components of supply chain management

1. Planning:- To meet customer demands, supply chain managers have to plan ahead.
2. Sourcing:- Selecting suppliers who will provide the goods, raw materials, or services that
create the product is a critical component of the supply chain.
3. Making:- Supply chain managers also need to help coordinate all the steps involved in
creating the product itself.
4. Delivering:- Ensuring the products reach the customers is achieved through logistics and
it„s fundamental to supply chain success.
5. Returning:- Supply chain managers also need to develop a network that supports
returning products.
Product Management
Product management is an organizational function that focuses on the product and its customers
throughout the product lifecycle, from development to positioning and price.
Maintaining business customer contact

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Maintaining business customer contact is crucial for building strong relationships and ensuring
customer loyalty.
Here are some tips for effectively maintaining contact with your business customers:
1. Regular communication: Keep in touch with your business customers on a regular basis.
This can be through phone calls, emails, or face-to-face meetings. Regular communication
shows that you value their business and helps you stay top of mind.
2. Personalize interactions: Tailor your communication to each individual business
customer. Use their name, reference previous conversations or transactions, and show
genuine interest in their needs and challenges.
3. Provide valuable information: Share relevant and useful information with your business
Customers.
4. Offer exceptional customer service: Be responsive and attentive to your business
customers' needs. Address any issues or concerns promptly and go above and beyond to
exceed their expectations. Exceptional customer service builds trust and loyalty.
5. Seek feedback: Regularly ask for feedback from your business customers. This can be
through surveys, feedback forms, or one-on-one conversations.
6. Stay updated on their business: Keep track of your business customers' news and
updates. Follow them on social media, read their newsletters, or attend their events if
possible. Staying updated on their business shows that you are invested in their success.
7. Offer exclusive promotions or discounts: Show appreciation to your business customers
by offering exclusive promotions or discounts. This can be a way to reward their loyalty and
encourage repeat business.
8. Maintain a customer relationship management (CRM) system: Use a CRM system to
keep track of all interactions with your business customers. This allows you to have a
centralized database of customer information and ensures that no communication or follow up
falls through the cracks.
Client Relationship Management
Customer relationship management (CRM) is the combination of practices, strategies and
technologies that companies use to manage and analyze customer interactions and data
throughout the customer lifecycle. The goal is to improve customer service relationships and
assist in customer retention and drive sales growth.
Component of CRM
 Contact Management
 Sales Force Automation
 Marketing Automation
 Customer Service and Support
 Analytics and Reporting
key elements of CRM:
Technology: Applications and infrastructure.
Strategy: Business goals and objectives.
Processes: Procedures and business rules.
People: Organizational structure, skills, and incentives.
UNIT TWO: BUSINESS CUSTOMER NEEDS

Methods of business customer needs

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Understanding and meeting the needs of business customers is crucial for the success of any
company. There are several methods that businesses can use to identify and address the needs
of their customers.

Market Research: Conducting market research is a fundamental method for understanding

business customer needs.
Customer Feedback: Actively seeking and listening to customer feedback is essential for
understanding their needs.
Data Analytics: Leveraging data analytics tools and techniques can provide valuable insights
into customer behavior, purchasing patterns, and preferences.
Personalized Communication: Tailoring communication and marketing efforts based on
customer segmentation and personalization can help in understanding the diverse needs of
business customers.
Continuous Improvement: Embracing a culture of continuous improvement is essential for
staying attuned to evolving customer needs.
Importance of Customer Needs
Businesses are taking strides to understand customer needs and meet them as early as
possible to align with internal teams.

1. Provide faster solutions

2. Improve your products & services
3. Reduce the number of support tickets

Types of Customer Needs

Businesses ought to understand customer needs as it is vital to match the competitive market
place. customer needs can be classified under two verticals.

1. Product needs
Product requirements are associated with and around the product. The main attributes
of product needs can be:
 Price
 Features
 Effectiveness
2. Service Needs
Service needs refer to the emotional needs of the customers. The key attributes of good service
can be:
 Empathy
 Clarity
 Information

PROMOTION ACTIVITIES
Promotion activities refer to the various marketing strategies and tactics used by companies

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to communicate with their target audience, increase brand awareness, and ultimately drive
sales.
Promotion activities are essential components of a comprehensive marketing strategy. By
utilizing a mix of advertising, public relations, sales promotions, direct marketing, and
personal selling, businesses can effectively engage with their target audience, build brand
awareness, and drive sales.

Effectively promotional activities:

1. Set clear goals: Before analyzing promotion activities, it's important to set clear goals.
2. Track key metrics: Identify key metrics that will help you evaluate the effectiveness of
your promotion activities.
3. Compare results: Compare the results of different promotion activities to identify trends
and patterns.
4. Collect feedback: Gather feedback from your business customers about their experience
with your promotions.

5. Analyze ROI: Calculate the return on investment (ROI) for each promotion activity.
6. Adapt and optimize: Use the insights gained from analyzing promotion activities to adapt
and optimize your future campaigns.
7. Monitor competition: Keep an eye on what your competitors are doing in terms of
promotion activities.

TRADING TERMS
Trading terms refer to the various jargon, phrases, and concepts used in the financial markets
and trading activities. They encompass a wide range of concepts, from basic terminology like
“bid” and “ask” to more complex ideas such as “short selling‖” and
“derivatives.” Understanding these terms is crucial for anyone involved in trading or
investing in financial markets

Common Trading Terms

Bid and Ask: The bid price is the highest price a buyer is willing to pay for a security, while
the ask price is the lowest price a seller is willing to accept. The difference between the bid
and ask prices is known as the spread.
Long and Short Positions : Going long refers to buying a security with the expectation that
its value will increase, while going short involves selling a security with the anticipation that
its value will decrease.
Leverage: This refers to using borrowed funds to amplify potential returns from an
investment. It can magnify both gains and losses.
Volatility: Volatility measures the degree of variation of a trading price series over time.
Higher volatility implies greater risk.
Margin: Margin refers to the amount of money required by a broker from an investor to
purchase securities. It allows investors to buy more securities than they could with just their
own capital.
Derivatives: Derivatives are financial contracts whose value is derived from an underlying

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asset or group of assets. Examples include options, futures, and swaps.
Market Order and Limit Order: A market order is an instruction from an investor to buy or
sell a security at the best available price in the current market conditions, while a limit order
specifies a price at which an investor is willing to buy or sell a security.
Stop-Loss Order: This is an order placed with a broker to buy or sell once the stock reaches
a certain price. It is designed to limit an investor„s loss on a position in a security.
Dividends: Dividends are payments made by a corporation to its shareholders, usually as a
distribution of profits.

Risk Management Terms

Diversification: Diversification involves spreading investments across different assets to
reduce risk exposure.
Beta Coefficient: Beta measures the volatility or systematic risk of a security or portfolio
compared to the market as a whole.
Standard Deviation: Standard deviation measures the amount of variation or dispersion of a
set of values from their average.

Pricing policy and procedure

Pricing policy and procedure refer to the guidelines and processes that an organization
follows to set, adjust, and manage the prices of its products or services.

Components of Pricing Policy and Procedure

Setting Pricing Objectives: The first step in formulating a pricing policy is to establish clear
Objectives.
Market Analysis: Understanding the market dynamics, including customer preferences,
competitor pricing strategies, and overall industry trends, is essential for developing a robust
pricing policy.
Cost Analysis: Pricing decisions should be informed by a thorough analysis of the costs
involved in producing and delivering the products or services.

Pricing Strategies: Different pricing strategies such as cost-plus pricing, value-based pricing,
penetration pricing, skimming pricing, and competitive pricing need to be considered based
on the nature of the product or service and the market conditions.
Price Adjustment Procedures: Procedures for adjusting prices in response to changes in
costs, demand, or competitive activities should be clearly outlined.
Importance of Pricing Policy and Procedure
A well-defined pricing policy and procedure offer several benefits to an organization:

 Revenue Optimization
 Competitive Advantage
 Customer Satisfaction
 Profitability
 Operational Efficiency

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Objectives for pricing policies
As with many businesses, you may have objectives other than simply making money in the
short-term.
 Profit
 Firm survival
 Limiting competition
 Gaining market share
 Accessibility
 Consumer satisfaction
UNIT THREE: BUSINESS CUSTOMER OUTCOMES AND
RELATIONSHIPS

Customers and consumers

Customers and consumers are essential components of any business. They are the individuals
or entities that purchase goods or services from a company.

The terms “customers” and “consumers”are often used interchangeably, but they represent
different roles in the business context.
A customer is someone who purchases goods or services from a business. They are directly
involved in the transaction and may or may not be the end user of the product. On the other hand,
a consumer is the individual who ultimately uses the product or service.
Understanding Customer Behavior
Studying customer behavior is crucial for businesses to tailor their products and services to
meet consumer needs effectively.
Consumer Rights and Protection
Consumers have rights that protect them in their transactions with businesses. These rights
include the right to safety, the right to be informed, the right to choose, and the right to be
heard.
QUALITY ASSURANCE
Quality assurance (QA) is defined as “the maintenance of a desired level of quality in a
service or product, especially by means of attention to every stage of the process of delivery
or production.” Here are some ways to do this:
 Conduct regular quality audits: Regularly review and assess the quality of products or
services being offered by the business.
 Implement quality control measures: Put in place measures to ensure that products or
services meet predetermined quality standards.
 Train employees on quality assurance procedures: Provide training to employees on
quality assurance procedures and ensure that they understand and adhere to these procedures.
 Monitor compliance with regulations: Stay updated on relevant regulations and ensure
that the business is compliant with them.
Qualify and quantify business customer needs
Understanding and meeting the needs of business customers is essential for the success of any
organization.
 Qualifying Business Customer Needs

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Qualifying business customer needs involves identifying and understanding the specific
requirements and preferences of the target market. This process typically involves market
research, customer surveys, and feedback analysis.

 Quantifying Business Customer Needs

Quantifying business customer needs involves assigning numerical values to the identified
requirements and preferences.

Methods for Qualifying and Quantifying Business Customer Needs

 Market Research
 Customer Surveys
 Data Analysis
 Feedback Analysis
 Predictive Analytics

Standards of quality customer relation

Customer relations are a critical aspect of any business, as they directly impact customer
satisfaction, loyalty, and ultimately, the success of the organization. To maintain high
standards of quality customer relations, businesses must prioritize several key elements.

 Effective Communication
 Personalized Service
 Professionalism and Courtesy
 Timely Issue Resolution
 Consistent Service Quality
 Feedback Mechanisms
 Empowerment of Employees

Customer needs and expectations

Customers have certain expectations when they engage with a company, and it is important
for businesses to understand and meet these expectations to maintain customer satisfaction
and loyalty. Here are some of the key customer needs and expectations:

 Quality Products and Services

 Timely Delivery and Response
 Personalized Experience
 Clear Communication
 Transparency and Honesty

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Effective feedback
Effective feedback is a crucial aspect of personal and professional development. It plays a
significant role in improving performance, enhancing communication, and fostering a positive
learning environment.
Characteristics of Effective Feedback
 Specificity
 Timeliness:
 Constructive Nature
 Clarity:
 Relevance
 Respectful Tone
 Actionable
The Importance of Effective Feedback
Workplace: In a professional setting, constructive feedback can enhance employee
performance, contribute to skill development, and improve overall productivity.
Education: In educational environments, effective feedback is crucial for student learning
and growth. It helps students understand their strengths and areas needing improvement.
Personal Development: In personal development contexts, such as mentorship or coaching
relationships, effective feedback supports individuals in achieving their goals and aspirations.

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