Notes on Victaulic and Ferguson presentations

Notes on Victaulic and Ferguson presentations - Notes on...

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Unformatted text preview: Notes on Victaulic Presentation Victaulic is the world's leading developer and producer of mechanical pipe joining systems. We make pipe joining systems but what we sell is productivity. Who do we target? Owners/architects….distributors (like Ferguson)… We are a sales driven organization, with sales working with marketing to create value in the global marketplace Job opportunities: 600 jobs in sales versus 25 in marketing What does a salesperson do? Most of the time is spent on education and preparation, little time in direct presentation to customers Selling myths Friends buy from friends (No, they buy the based on criteria) People buy from people they like (No, but they might try to avoid buying from people they don’t like) You have to sell yourself (No, this comes off as being conceited) What do customers want from salespeople? Mutual respect and problem solving Critical Behaviors for Success in Selling 1. 2. 3. 4. Ask questions – both simple and directed LISTEN & UNDERSTAND (Paramount!) If you do not understand, ask for clarification – then LISTEN again Respond Appropriately, Accurately, Honestly 5 Levers of a strong business relationship Be likeable, the gateway to trust and building a relationship Connect, to eliminate barriers to customers sharing their challenges and problems Solve problems for your customers Build trust – follow through with what you say Create a positive emotional experience What does marketing do as part of the team? Create image/awareness of products, solutions (trade shows, sales literature, advertising, social media…) Market research, including: Assess market size, trends, opportunities Competitive intelligence Customer research (direct feedback from customers on current or future solutions) Sales support (e.g., lead generation from information on prospective customers, reviews of channel member performance) NOTES ON FERGUSON PRESENTATION Ferguson Enterprises, Inc. is the market leader in wholesale distribution of plumbing, HVAC, waterworks (example: they are Kohler’s largest customer, and serve as an important channel member for that vendor) They operate in the B2B market, selling primarily to businesses Everything they do revolves around relationships Ferguson performs many channel functions; for example: Kohler ships to only 9 distribution centers; Ferguson ships Kohler products to 1300 locations Kohler educates Ferguson’s salesforce about new products; Ferguson then educations end users Ferguson can solve customer problems with Kohler products faster and more effectively than Kohler can Sources of Channel conflict? 1. Pressure from Kohler for Ferguson not to develop its own, private label brands 2. Ferguson may invest in educating and developing demand for its vendors’ products only to have those customers buy more cheaply elsewhere Positioning: What do customers (e.g. a builder) get from Ferguson? Not low prices Easy access to a wide variety of products High level of expertise and service Good relationships with Ferguson associates Ferguson commitment to their customers’ success and willingness to problem solve Fast response (e.g. Ferguson Online gives customers ability to check stock, invoices, contracts ) Marketing yourself to employers • • • • • • • • Be open‐minded First impressions: Introduction/Handshake/Approach Do Your Research Resume (Contact Info, Concise, One Page) Practice (Mock Interviews, Introduction) Be Enthusiastic Network Everywhere Start EARLY! ...
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This note was uploaded on 02/29/2012 for the course MKGT 3104 taught by Professor Dr.klein during the Spring '12 term at Virginia Tech.

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