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Chp 13

by: Amity brown

Chp 13 MKT 3400

Amity brown
GPA 3.5
Principles of Marketing
Kathryn A Nicewicz

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Principles of Marketing
Kathryn A Nicewicz
Class Notes
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This page Class Notes was uploaded by Amity brown on Wednesday November 18, 2015. The Class Notes belongs to MKT 3400 at Tennessee Tech University taught by Kathryn A Nicewicz in Fall 2015. Since its upload, it has received 8 views.


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Date Created: 11/18/15
Chapter 13 Notes Rest Stop Previewing the Concepts 0 Discussing the role of a company s salespeople in creating value for customers and building customer relationships 0 Identify and explain the six major sales force management steps 0 Discuss the personal selling process distinguishing between transactionoriented marketing and relationship marketing 0 Explain how sales promotion campaigns are developed and implemented 0 Its sales force has long been an American icon for selling at its very best 0 It understands that if its customers don t do well neither will the company 0 Its business development involves partnering with customers to jointly identify strategies that create shopper value and satisfaction and drive profitable sales at the store level Personal Selling 0 Personal presentations by a sales force to make sales and build customer relationships 0 Salesperson Represents a company to customers by performing one or more of the following activities 0 Prospecting and communicating 0 Selling and servicing O Gathering information and building relationships The Role of the Sales Force Serve as a critical link between a company and its customers Coordinate marketing and sales Sales Force Management Analyzing planning implementing and controlling sales force activities Steps of sales force management 0 Designing a sales force strategy and structure 0 Recruiting and selecting salespeople 0 Training salespeople Compensating salespeople Supervising salespeople 0 Evaluating salespeople Figure 131 Major Steps in Sales Force Management Types of Sales Force Structure Territorial Assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company s full line Product Salespeople specialize in selling only a portion of the company s products or lines Customer or market Salespeople specialize in selling only to certain customers or industries Sales Force Structure Sales Force Size May range from only a few to thousands Many companies use some form of workload approach to set sales force size Company first groups accounts into different classes according to size account status or other factors 0 Then determines the number of salespeople needed to call on each class of accounts Other Sales Force Strategy and Structure Issues Other Sales Force Strategy and Structure Issues Recruiting and Selecting Salespeople Training Salespeople Training programs teach salespeople About different types of customers and their needs buying motives and buying habits 0 How to sell effectively 0 Basics of the selling process 0 How to know and identify themselves with the company its products and the strategies of major competitors Compensating Salespeople Supervising Salespeople Goal 0 Help salespeople work smart by doing the right things in the right way Sales force management tools Call plan Shows which customers and prospects to call on and which activities to carry out 0 Timeandduty analysis Sales Force Automation System Computerized digitized sales force operations that let salespeople work more effectively anytime anywhere Motivating Salespeople Goal 0 Encourage salespeople to work hard and energetically toward sales force goals Management boost sales force morale by Organizational climate Sales quotas 0 Positive incentives Sales meetings Sales contests Evaluating Salespeople and Sales Force Performance Management gets information about its salespeople from Sales reports Call reports 0 Expense reports 0 Monitoring the sales and profit performance data in the salesperson s territory 0 Personal observation customer surveys and talks With other salespeople Evaluating Salespeople and Sales Force Performance Formal evaluation Forces management to develop and communicate clear standards for judging performance 0 Provides salespeople With constructive feedback and motivates them to perform well Company should measure its return on sales investment Selling Digitally Online Mobile and Social Media Tools Provide salespeople With powerful tools for 0 Identifying and learning about prospects Engaging customers Creating customer value Closing sales Nurturing customer relationships Help sales forces to be more efficient costeffective and productive Steps in the Selling Process Prospecting and qualifying Preapproach Approach Presentation and demonstration Handling objections Closing Followup Figure 133 Steps in the Selling Process Steps in the Selling Process Prospecting and qualifying Prospecting Identifying qualified potential customers 0 Qualifying Identifying good ones and screening out poor ones Preapproach Learning as much as possible about a prospective customer before making a sales call Steps in the Selling Process Approach Meeting the customer for the first time Presentation and demonstration Presentation Telling the value story to the buyer showing how the company s offer solves the customer s problems Handling objections Seeking out clarifying and overcoming any customer objections to buying Steps in the Selling Process Closing Asking the customer for an order Followup Following up after the sale to ensure customer satisfaction and repeat business Personal Selling and Managing Customer Relationships Most companies want their salespeople to practice value selling Value selling requires 0 Listening to customers Understanding their needs Carefully coordinating the whole company s efforts to create lasting relationships based on customer value Sales Promotion Shortterm incentives to encourage the purchase or sale of a product or a service Sales promotion targets 0 Final buyers Consumer promotions Retailers and wholesalers Trade promotions Business customers Business promotions 0 Members of the sales force Sales force promotions Targets of Sales Promotion Final buyers consumer promotions Retailers and wholesalers trade promotions Business customers business promotions Members of the sales force sales force promotions Factors Contributing to the Growth of Sales Promotion Product managers view promotion as an effective shortrun sales tool Competitors use sales promotion to differentiate their offers Advertising efficiency has declined Sales promotions help attract today s more thriftoriented consumers Sales Promotion Objectives Sales promotions 0 Are used together with other promotion mix tools 0 Help reinforce product s position and build longterm customer relationships Sales Promotion Objectives Consumer Promotion Tools Samples Offers of a trial amount of a product Coupons Certificates that save buyers money when they purchase specified products Cash refunds or rebates Price reduction occurs after purchase to the manufacturer which then refunds part of the purchase price Consumer Promotion Tools Consumer Promotion Tools Trade Promotion Tools Contests Premiums Displays DiscountsPriceoffOff invoiceOff list Allowances Free goods Push money Specialty advertising items Business Promotion Tools Include many of the same tools used for consumer or trade promotions Conventions and trade shows Help vendors find new sales leads contact customers introduce new products etc Sales contests Contest for salespeople or dealers to motivate them to increase their sales performance over a given period Developing the Sales Promotion Program Marketers must 0 Determine the size of the incentive Set conditions for participation 0 Determine how to promote and distribute the promotion program itself Set the length of promotion 0 Evaluate the promotion


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