Sales Management

Selling Process

Sales Management
Sales persons knowledge universe
Prod Knowledge Company Knowledge History Finance Management Size Policies Features Benefits Price Competitor Knowledge Industry structure Market Share Market behavior Other policies

SPs Knowldg Universe

Sales Management
Selling process Duties of SP vary in different selling situation Fundamental duty of SP is to provide product & service information to the customer SP works as a source of market intelligence Being close to customers, SP possess info about customer preference, switching behavior & demand pattern SP helps the organization in forecasting territorial redesign, collecting competitor info

Sales Management
Selling process Sales Person locates & identifies the prospects Makes sales presentation Closes a call Follow up with existing customers Measures success & customer satisfaction levels

90% of customer handling strategy 10% of sales presentation

Sales Management
Selling process
Pre sale preparation Prospecting

Pre approach Before Interview

Approach to the customer

Follow up Action for Repeat sale

Closing the sale

Objection handling

Sales presentation

Pre sale preparation: Adequate knowledge about product, market, competitors product, prices, customer segment & selling technique to be applied

Sales Management
ICICI bank model
Exit/follow up

Closing sale
Handling objection Demonstration Presentation Customer contact Prospecting

Account Opening
Sales presentation

Sales Executives Domos

Product presentation by Field Officer Calling by Field Officer for appointment

Through branch referrals & Field Officers activity

Customer Relationship Management

Formation and nurturing of long term relationship through paying individual attention Objective: Turning prospects into advocates Prevent defections Having large proportion of loyal advocates Long term business gains Customer if satisfied with the service will continue to patronize the same service provider

Customer Relationship Management

The Loyalty ladder
Advocate

Emphasis on developing &enhancing relationships

Supporter Client

Customer retention

Customer Emphasis on New customer

Customer acquisition

Prospect

Customer Relationship Module

Phase 3

Company Loyal KOLs

Phase 2 Product Loyal Phase 1

Prospects,New, Potent, initiators

Sales Management
Class Assignment : Eureka Forbes

How will you go about with the selling of the following products Industrial products: Solar heater panels Robot with a sensor FMCG product: Green tea dispersible tablets Pharma product: Medicated diapers Service product: ICICI pinnacle fund Automobile product: TATA Nano