BLACKBOARD_SPM215 2012S_WK02_D01

BLACKBOARD_SPM215 2012S_WK02_D01 - Principles of Sales in...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Principles of Sales in Monday 1/23/2012 Sport WK02-D01 SPM215 Monday 1/23/2012 Review, Q&A Assignment Review Syllabus Assets of the Sales Professional (Review) Personal Selling: an Introduction Marketing Place: Sport Distribution Five Sales Strategies in sport B-C Sales The sales process: an introduction Review The role of Sales as part of Marketing 4Ps Promotion & Personal Selling Components of Personal Selling Sales Ecosystem Assets of the Sales Professional Contact Management Software What makes a good salesperson? Asking Questions - Q&A Marketing 4 Ps Product Price Place (Distribution) Promotion Promotion Promotion is all about companies communicating with customers. Advertising paid form of non-personal communication the message (what you want your communication to say) the medium (how you get your message across) Personal Selling 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 ultimately end with an attempt to "close the sale". Knowledge + Skill PRODUCT Knowledge "Team & Inventory" CUSTOMER Knowledge SALES Skills INDUSTRY Knowledge "Fundamental Motives" "Sports & Competition" Sales Ecosystem Customers Industry The Customers Customers The Customers Prospects Your Customers The Customer The Customers Competitors " A customer centric sales environment." Your Company (Sport Org) Sales Professional Your Competitors Suppliers Stakeholders Business Environment 2007-2011 Valor Consulting Group LLC Syllabus SPM 215 Questions ? Course Description & Objectives Textbook Grading Policy Exams Final Paper Opportunity Plan Class (group) Project Class Participation & Attendance Assignments Academic Integrity Special Needs Tutoring Contact Management Software Contact Management - CM Customer Relationship Management CRM Class Project Customer Contacts Final Exam ALL Class contacts Microsoft Outlook Outlook 2007, 2010 http://office.microsoft.com/en-us/outlook/ Other ...with approval Apple-Address Book Outlook 2010 features and benefits http:// office.microsoft.com/en-us/outlook/outlook-2010-features-and-benefits-HA101810016.a Outlook 2010 with Business Contact Manager http:// office.microsoft.com/en-us/outlook/outlook-2010-with-business-contact- http://www.youtube.com/watch?v=KRE5sMRoQSk SPM215 Assignment 01 Product-Line Product-Line http://www.dickssportinggoods.com/home/ind Rochester Red Wings - Line Card http ://rochester.redwings.milb.com/about/page.jsp?ymd=20081201&content_id Syracuse Chiefs Line Card http ://web.minorleaguebaseball.com/documents/2006/12/14/148766/9/Syracus pdf Product Line, Sales to... 10 Consumer 10 Business Products price range PRODUCT Knowledge Products price range "Team & Inventory" place or place or distribution channel distribution channel Assignment 01 Product-Line Due: Monday, 1/23/2012 (hand in, typed) For an AAA League Baseball team... http://web.minorleaguebaseball.com/milb/scoreboard/ Identify and list 20 unique products that could be sold; 10 available for sale to the general public 10 available for sale to a business entity Include with each product, a relative price range for that product. Include with each product the place or distribution channel for the sale of that product... (where is it sold and/or by who is it sold by) Be prepared to make an initial sales call on me, to sell me SPM215 What makes a good salesperson What makes a good salesperson Knowledge + Skill... Born or Made? Characteristics of a Successful Salesperson? Skills? What makes a good salesperson Characteristics of a Successful Salesperson Ability to listen Can see the big picture Adaptable Customer-centric point of view Understands value of product and/or service One of the most important skills of a salesperson..... Asking Questions Closed & Open-ended questions Q&A About...The Class About...The Instructor About...Sales In general About anything... What makes a good salesperson Characteristics of a Successful Salesperson (See Text e/8 pg. 18-19) Ability to listen Can see the big picture Adaptable Customer-centric point of view Understands value of product and/or service One of the most important skills of a salesperson..... Asking Questions "As a salesperson you are judged by the quality of the questions you ask." - PTR Emotional Intelligence "the subset of social intelligence that involves the ability to monitor one's own and others' feelings and emotions, to discriminate among them and to use this information to guide one's thinking and actions" (1990) Peter Salovey and John D. Mayer "Emotional Intelligence" ...an ability, skill or, a self-perceived ability to identify, assess, and control the emotions of oneself, of others, SPM215 Personal selling: an introduction Some Basic Selling Concepts Personal selling Value Selling Go-to-market Why Learn About Personal Selling? The principles of selling are useful to everyone, not just people with the title of salesperson. People in business use selling principles all the time. Developing mutually beneficial, long-term relationships is vital to all of us. Selling VALUE ! Personal selling is a person-to-person business activity in which a salesperson uncovers and satisfies the needs of a buyer to the mutual, long-term benefit of both parties. Selling Value Bottle of Water Diamond Value Proposition ...summarizes why a consumer should buy a product or use a service. This statement should convince a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. Companies use this statement to target customers who will benefit most from using the company's products... The ideal value proposition is concise and appeals to the customer's strongest decision-making drivers. The Role of Sales in Business "Go-to-market" strategies Lifetime customer value Multichannel strategy Sales-force intensive organizations Integrated marketing communications Importance of advertising "Go-to-market" Communication Methods What Salespeople do? Revenue generation Process of selling face-to-face, remotely Client relationship Problem solver, value maximizer Generate leads and follow up on prospects Information provider to their firm Administrative duties travel and training How Salespeople Spend Their Time SPM215 Marketing Place Sport Distribution Selling and Distribution Channels A distribution channel is a set of people and organizations responsible for the flow of products and services from the producer to the ultimate user. Sport Organization "Distribution Channel" Corporate client Ticket holder Fan Community Selling and Distribution Channels Business-to-Business channel (BtoB) Sport B to B Sport Organization Salesperson and or Business Consumer Marketing Firm Business-to-Business channels Selling and Distribution Channels Business to Consumer channel (BtoC) Sport B to C Sport Organization Sales Person Distribution Consumer Business-to-Consumer channels agent 1. (sales definition) A person acts as a representative of a firm or individual. (retailing definition) A business unit that negotiates purchases, sales, or both but does not take title to the goods in which it deals. (retailing definition) A person agent; one who represents the principal (who, in the case of retailing, is the store or merchant) and who acts under authority, whether in buying or in bringing the principal into business relations with third parties. (global marketing definition) A company or individual that represents a company in a particular market. Normally an agent does not take title to goods. 2. 3. 4. Advertising & marketing services agencies Advertising Marketing services Independent companies providing assistance to firms in getting products to their target markets, they include marketing research agencies, advertising agencies, sales promotions specialists, marketing consultants, etc. Firm that (1) creates new promotional ideas, (2) designs print, radio, television, and internet advertisements, (3) books advertisement space and time, (4) plans and conducts advertising campaigns, (5) commissions research and surveys, and (6) provides other such services that help a client in entering and succeeding in a chosen market. In general, advertising agencies are not deemed agents of the advertisers, because they act as Marketing Companies on the Inc. Top Advertising & principals for the services 5000 http:// they buy on behalf of their www.inc.com/inc5000/list/2011/industry/advertising-marketing/x/company clients. Selling and Distribution Channels in Sport Channels Channel Sport s Agents Consumer Corporate client Ticket holder Fan Community Broker Manufacturer League Distributor Retail PR SPM215 Five Sales Strategies in sport B-C Sales Alternative sales Stratigies for Serving Customers Sport Five Sales Stratgies in B-C Sport Sales Over-theCounter Inside Selling channels Field Selling Telemarketing Online Selling Personal selling occurs through several types of communication Each sales channels has unique aspects which make it relevant for particular sales situations. Over-the-counter selling Over-theCounter Inside Selling Field Selling Telemarketing Online Selling Personal selling conducted in retail and some wholesale locations in which customers come to the seller' place of business Examples: ticket, retail, refreshment Field selling Over-theCounter Inside Selling Field Selling Telemarketing Online Selling Field Salespeople, sales presentations made at prospective customers' place of businesses on a face-to-face basis Examples: sponsorship, corporate events Telemarketing / Telesales Over-theCounter Inside Selling Field Selling Telemarketing Online Selling promotional presentation involving the use of the telephone on an outbound basis by salespeople or on an inbound basis by customers who initiate calls to obtain information and place orders Examples: group ticket, season ticket Inside selling Over-theCounter Inside Selling Field Selling Telemarketing Online Selling Inside Salespeople, performing the functions of field selling but avoiding travel-related expenses by relying on phone, mail, and electronic commerce to provide sales and product service for customers on a continuing basis, support for field-selling. Examples: sponsorship, corporate events, customer support Online Selling Over-theCounter Inside Selling Field Selling Telemarketing Online Selling Performing the sales function via the internet by allowing customers to access product information, check prices, and place their own orders without input from an actual salesperson. Examples: online ticket and retail sales "Click to Talk" SPM215 The sales process: an introduction Demonstration Handling Objections Closing Follow-up Presentation The Sales Process Approach Prospecting and Qualifying Prospecting and Qualifying Demonstration Handling Objections Closing Follow-up Presentation Prospecting: personal-selling function of identifying potential customers Qualifying: determining that a Approach Prospecting and Qualifying prospect has the needs, income, and purchase authority necessary for being a potential customer The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Approach: salesperson's initial contact with a prospective customer Approach Prospecting and Qualifying Precall Planning: use of information collected during the prospecting and qualifying stages of the sales process and during previous contacts with the prospect to tailor the approach and presentation to match the customer's needs The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Presentation: describing a Approach product's major features (and benefits ) and relating them to a customer's problems or needs Prospecting and Qualifying The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Demonstration: allows the Approach prospect to see and feel how things will be different after they've bought the product or service. Prospecting and Qualifying Tells a story, using the product as the visual hook. Draw the prospect in, and let the prospect guide the demonstration The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Objections: expressions of sales resistance by the prospect Price is the #1 objection, but it may Approach not be the real concern Objections are reasonable and Prospecting and Qualifying professional salespeople are prepared to handle them appropriately The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Closing: stages of personal selling where the salesperson asks the customer to make a purchase decision Approach Nearly 80% of salespeople fail to close when the buyer is ready Prospecting and Qualifying The Sales Process Demonstration Handling Objections Closing Follow-up Presentation Follow-up: postsales activities Approach that often determine whether an individual who has made a recent purchase will become a repeat customer Prospecting and Qualifying Follow-up helps build mutually beneficial longterm relationships Demonstration Handling Objections Closing Follow-up Presentation In Class Sales Calls Approach Prospecting and Qualifying The Sales Process In Class Project In Class Project Advertising & Marketing Health Identify and list 5 Industries that would be a candidate for consideration as our class project target account. Human Resources Business Products & Services Insurance Computer Hardware IT Services Construction Logistics & Transpo Consumer Products & Services Manufacturing Education Energy Engineering Media Real Estate Retail Security Environmental Services Software Telecommunication Financial Services Travel Food & Beverage ...
View Full Document

Ask a homework question - tutors are online