...is defined as “the total expected sales of a given product or service for the entire industry in a specific market over a stated period of time” (Spiro & Stanton, 2008, p. 351). The tablet market potential in 2011 was around 116 million units. In 2012, the tablet market potential is expected to grow at the same rate if not more with the number of units totaling 140 million. The market potential for the iPad 2 also can be stated for men and women ages 16-55 years of age in multiple countries around the world. Sales Potential Market potential overviews the forecasted amount of units that will be sold for the industry and not the organization itself. If Apple wants to determine how the organization can capitalize on the 120 million units expected to sell in the tablet industry for 2012, the company must determine the sales potential for the iPad2. Sales potential refers to the “maximum share (or percentage) of market potential that an individual firm can reasonably expect to achieve” (Spiro & Stanton, 2008, p. 351). In the second half of 2011, the iPad 2 has accounted for 68.3% of the approximately 116 million units sold in the tablet market (Peckham, 2011). It is reasonable to agree that in the coming years Apple can expect to see between 55 to 60% market share in the tablet market. In 2012, Apple’s sales potential for the iPad 2 can be predicted to be 55% with the release of newer tablets from Amazon, Samsung, and Barnes & Noble. Sales Forecast In 2011 the iPad 2 has...
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...HBR.ORG Spotlight on Smarter sales The End of Solution Sales The old playbook no longer works. Star salespeople now seek to upend the customer’s current approach to doing business. by Brent Adamson, Matthew Dixon, and Nicholas Toman July–August 2012 reprinT R1207C Spotlight on Smarter sales Spotlight Artwork Chad Wys, Thrift Store Landscape With a Color Test, 2009, paint on found canvas and frame, 42" x 34" x 2" For article reprints call 800-988-0886 or 617-783-7500, or visit hbr.org Brent Adamson is a managing director, Matthew Dixon is an executive director, and Nicholas Toman is a research director at Corporate Executive Board. The End of Solution Sales The old playbook no longer works. Star salespeople now seek to upend the customer’s current approach to doing business. by Brent Adamson, Matthew Dixon, and Nicholas Toman July–August 2012 Harvard Business Review 3 Copyright © 2012 Harvard Business School Publishing Corporation. All rights reserved. T Spotlight on Smarter sales The hardest thing about B2B selling today is that customers don’t need you the way they used to. In recent decades sales reps have become adept at discovering customers’ needs and selling them “solutions”—generally, complex combinations of products and services. This worked because customers didn’t know how to solve their own problems, even though they often had a good understanding of what their problems were. But now, owing to increasingly...
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...Why you lost the sale/How to keep a customer In order for a salesperson to be a good one (and make sales), they must know the customers personality, partner with the customer, know what they want; anything that will make the customer feel special in their own way and not just a number in your sales line. In chapter one we discussed ABCS, Analyse needs, present product Benefits, gain Commitment, and Service. This method is used to build long term relationships. In the article it says how many salespersons confuse or put the blame on why they may have lost a sale, but they are wrong. Below I have listed a couple reasonings the article has given and information related from the book, compaired to real life examples from my perspective. • The customer was loyal to someone else, lack of engagement. In my opinion, you have to be better at what you do in order to win over the loyalty of a customer. Make your product/deals/benefits more appealing to the customer. For example, create a rewards program. American Express has an extremely high interest rate on their credit cards, but I prefer teir service because they get me what I need when I need it. If I lose a card I get a new one the next day, if I have my card stolen they do not charge me for the costs. On the other hand, other credit cards you have to wait 7-10 business days for your replacement card, you are responsible for stolen costs, but the interest rate is less than have of American Express. To me, their benefits are greater...
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...Dialogue 5 Introduction Assignment #1 plan is to select a company mentioning the following: • Common customer objections •Appropriate methods to handle these objections with script scenarios to the dialogue. Qnet is Neutrino's protocol for distributed networking. Using Qnet, you can build a transparent distributed-processing platform that is fast and scalable. This is accomplished by extending the Neutrino message passing architecture over a network. This creates a group of tightly integrated Neutrino nodes (systems) or CPUs — a Neutrino native network. Qnet is a network that sales several products the internet and growth of tree network from one customer to another. The following assignment reflects sales man (Person X) from Qnet team that sales the idea of joining Qnet team to a customer (Person Y) by selling one of Qnet products. Case 1 Dialogue False objection After the sales man (person X) demonstrate the presentation to the customer (Person Y). Person X asked person y if there is any inquires. Following is the discussion between two parties. Person Y: I have some quires, which I need to discuss before I make my decision Person X: ok, let us discuss it Person Y: Products are very expensive in relative to other market similar products. Person X: let’s have a comparison between Qnet product and other relevant market product. Let’s discuss the vacation packages. Person Y: why specially the vacation packages, Person X: other products includes in its...
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...the customer. This type of product would be the purchase of a car, house, life insurance. 2. While you do not have to be a psychologist or understand exactly how the buyer's mind works, you do need to uncover the buyer's motives. a) What techniques can be used to uncover the buyer's motives? It’s called the FAB selling technique which stands for (1) the product feature, the physical characteristic (2) the product advantage, the performance of the product (3) the product benefit, the results of the product, the ability to satisfy the customer. b) The prospect's intention to buy can be influenced by several things. What information does the salesperson need to obtain concerning the prospect's buying intentions before developing a sales presentation? The method is called L-O-C-A-T-E (1) Listen to the customer when they drop hints (2) Observe the customer, meaning their appearance, body language. (3) Combine information obtained from the customer, this is done through varies question presented to the customer. (4) Ask questions, this is done to find out the customer’s needs...
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...Sales and distribution Management Unit-1 Sales Management and Salesmanship : Introduction, scope and importance, personal selling: concept and scope, process of personal selling, types and qualities of salesman. Definition The American Marketing Association has given a current day definition of sales Management as: “ The planning, direction and control of personnel selling, including recruiting, selecting, equipping, assigning, routing, supervising, paying and motivating as these tasks apply to the personnel sales force.” Sales management is the management of the sales force and personal selling efforts to achieve desired sales objectives Objectives of sales management : • Qualitative Objectives (long term ) : 1. 2. 3. 4. 5. 6. 7. To do the entire selling job. To service existing accounts (customers) To search and maintain customer cooperation. To assist the dealer in selling the product line. To provide technical advice wherever necessary. To assist in training of middleman’s sales personnel. To provide advice and assist the middleman. Nature of Sales Management • Its integration with marketing management HeadMarketing rtis ManagerPromotion Manager – Market Research Manager – Sales Manager – Market Logistics Manager – Customer Service • Relationship Selling Transactional Relationship Selling Value – added Collaborative / Relationship / Partnering Selling Relationship Selling / / Varying Sales Responsibilities / Jobs Sales Position...
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... Review questions and application exercises on p. 134 and 135 Ch. 7 Product-selling Strategies that Add Value Article: Harte Hanks; Create and Nurture B2B demand with social media, 2010 Article: Ricci, L.R., ― What changed our sales cycle and Why?‖, 2005. Review questions and application exercises on p. 154 and 155, case on p. 155 Ch. 8 The Buying process and buyer behaviour. Article belonging to CH 8: How you slice it; smarter segmentation for your sales force. Describe positioning as a product-selling strategy Explain the cluster of satisfactions concept Discuss product-positioning options Explain how to sell your product with a price strategy Explain how to sell your product with a valueadded strategy Positioning involves: • Those decisions and activities intended to create and maintain a certain concept of the firm‘s product in the customer‘s mind Differentiation refers to: • Your ability to separate yourself and your product from that of your competitors • It is the key to building and maintaining a competitive advantage The set of benefits and values the company promises to deliver to customers to satisfy their needs A well-informed customer will usually choose the product that offers the most value • • • Applies to both new and existing products May be necessary to reposition products several times Salespeople have an important and expanding role in differentiating products • ...
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...Take a product or service then propose a sales organization structure for a local company which has a policy to sell their products across key urban markets – Kathmandu valley, Pokhara, Birgunj, and Biratnagar markets. Explain why your proposed organization structure fits the best. Sales Organization is a department of the organization which establish for the purpose of directing, coordinating and controlling the sales force to achieve the set of selling & distribution objectives. The structure of Sales organizations may vary according to the products or service being offered to the customers. I had chosen HH (Bajaj) which started its operation in 1998 and which is one of the leading corporate entities of Nepal. It is the authorized dealer of Bajaj Motorcycles of Nepal. Since Motorbikes are mostly popular in the urban parts of the country like Kathmandu, Pokhara, Birgunj, Biratnagar etc where they can sell products as well as provide adequate after sell service required by the customers which is very important for the motorbikes company. The Sales organization structure I would propose for this company is Line Sales Organization. It is the simplest form of organization structure where every superior has an authority to command his subordinate. In a line organization, top management has complete control, and the chain of command is clear and simple. Here the regional sales managers will be clear about his authority and responsibility. He will be given the well defined...
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...Todd’s Organic Garden Breads 1245 West Ocala Blvd Palm Beach, FL 32589 Mr. Richards Dean and Deluca 560 Broadway New Your, NY 10012 October 22, 2012 Dear Mr. Richards, Increase your selection of gourmet breads with a new healthy option! At Todd’s Organic Garden Breads, we sell a variety of healthy, whole- grain breads that would be a great addition to any menu or catalog. The company originated in Florida where I studied under a master baker for several years. My bread products have flourished in the southern states, and demand continues to rise everywhere they are sold. My products can currently be found at Wild Oats and other health food super-markets, and I am now trying to advance into gourmet specialty shops. This variety of bread would be a great addition to your bakery selection as it offers something new for your health-conscience customers. Our organic breads retail for 30% more than typical organic bread, and we have outsold the competition consistently for the past six years. After extensive research on your products and customer base, I am confident that my products are right for Dean and Deluca. I would like for you to start selling my bread in your gourmet shops, cafés, and catalogs. I have attached a detailed product description, several articles written about my company, and revenue reports from the last six years. If you agree that my bread will be a positive addition to your company, please call me at 756-895-1245 to discuss further...
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...Sales automation 1. Sales processes that are not aligned with the way customers want to buy. In many cases the process steps follow generic templates that were created by software engineers who have little experience about how to optimize a salesperson’s time. Action step: Ask 10 of your best customers to describe their best/worst experiences in dealing with your company. 2. Many sales technologies are designed so that salespeople spend more time in front of a computer than in front of a potential customer. We see salespeople spending less than 30% of their time seeing customers. Action step: In addition to next month’s sales quota, set a time quota and mandate that salespeople spend X amount of their time with customers or prospects. Customers should come first, everything else second. 3. Fewer salespeople are reaching their quota this year. CSO Insights research confirms that only 47.8% of all forecasted deals are closed. Action step: Improve your pipeline analytics. There are great solutions on the market that are waiting to be explored. 4. Sales managers are not sufficiently trained in coaching their salespeople, yet most sales leaders agree that of all their development initiatives, sales coaching will deliver the biggest payback. Action step: There are a number of highly effective sales-coaching programs on the market. Select one that fits. 5. Customers have radically changed their buying behaviors. Traditional sales-training programs rely...
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...addition to the assumptions introduced in chapter 7 for basic cost-volume-profit (CVP) analysis, one additional assumption must be specified: The sales mix is expected to remain steady. Sales mix refers to the relative proportions in which a company’s products are sold. For example, suppose a deli sells 2 sandwiches for every bag of chips sold for every 3 soft drinks sold. The sales mix in units for the deli is 2 to 1 to 3. The sales mix is expressed in standard form as 2 : 1 : 3. In other words, out of every 6 items sold, the company typically sells 2 sandwiches, 1 bag of chips, and 3 soft drinks. This group of 6 items is often known as a bundle. It is important to note that it may take multiple customers to sell all items in the bundle, however, on average, a company can rely on its product mix in the short run. Understanding a company's sales mix is helpful for budgeting, for managing a company's inventory levels, and for determining breakeven and target profit levels. Sales mix can be stated two different ways--in terms of units and in terms of sales dollars. To illustrate, suppose Jama Giants produces two products: cakes and pies. Sales mix in units differs from sales mix in revenue dollars because both the selling price of cakes and pies and the number of pies and cakes sold differ. The company has provided the following expected sales information for its products for the month of...
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...To me team sales approach is really important for any kind of business. It can show the business a different way and can make the business a success. In this case, Roger Owens hired the Royal Group as a sales team for the betterment or the development of his new project “Lake Oconee Plantation” . This sales team consisted of Dan cross (owner of the Royal Group) , Sara (Dan’s wife) ,Jim Thompson, and Kimberly Southworth. Each and every member of this team played an vital role in the success of Roger’s business. Dan and sara was in the field team who spent most of their times with their customers. Dan was mainly the deal maker. On the other side Kim and jim worked back in the office. jim worked in the creative sector including the development of the website, designs, and print production. And kim was basically the traffic controller or in other word she was in service sector. They worked in different four sectors to bring different angle in the business. I think, in other sales organizations, this idea can also work out. By focusing in these four sectors one business can easily improve their sales. Let’s take an example of our telecommunication companies. Their target is to establish their network within the whole country and for this reason they have to focus on their sales. Suppose , they have hired a new sales team and one effective member is working with the customers face to face , one is improving the website to let the customer know better about their product , another...
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...HOW TO IMPROVE SALES On the Sales Floor … 1. The customer’s first 10 seconds inside the store sets the tone for their entire shopping trip. What kind of first impression does your store give? Check it daily. 2. Hang a bulletin board near your Decompression Zone usually 5 to 10 feet inside the store stating the services and product categories and also information like refund available and guarantee on service and if there is a sales also mention it. 3. Place speed bumps – small tabletop displays of product just beyond your Decompression Zone. Make these displays irresistible and easy to shop: customers are far more likely to buy if they’re encouraged to pick up the product. 4. Check your store aisles; they should be a minimum 2 to 3 foot gap′. Can shoppers easily maneuver the aisles? Can two customers – comfortably pass one another in each aisle? 5. Set your end features to sell! End features are meant to display promotional items; not to house everyday, basic merchandise. You need to plan what will go on your end features, so assign each one a number, and make a list of product each end feature will house each month. 6. Studies show that customers will spend 25 percent more and up to 15 minutes longer in the store when they shop with a basket. Even if your store is tiny, you can still offer customers a shopping basket. 7. Implement a signing program. Signs serve a purpose – they act as silent sales people, helping customers until a real person is available to help...
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...model of customer intimacy and build long-term relationships based on trust and value to the customer. Implementing this vision brought problems to the Sales and Marketing department. They already replace Executive Vice president of Marketing and Sales because he did not support and failed delivering this vision to the employees and the new Executive Vice President of Marketing and Sales Jane Angelo only have 12 months to implement this new image and approach to the employees. Opportunities If Intersect Investment meets their vision is agoing to help their gain long term customer and get better communication between the departments of the organization. The image of the company would become more trust for customer and for the financial industry. They would become stronger competitors. Challenges. They only have 12 months. Employees not able to cooperate with the companies new vision. b. Define the problem. "Intersect Investments Upper Management don’t have a good communication trying to deliver the goals to the differences parts of the organization causing high turnovers rates, breakdown communications and employees unable to understand the goals that the company want to obtain. c. Describe the desired future state and goals against which to evaluate alternatives. Organizational Change in the sales department Brand New Image of customer intimacy Build long term relationships with customers. Gain Wall Streets trust Reduces turnover percent Adding...
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...SALES MANAGEMENT AND MARKETING FORECASTING Cold calling - contacting a lead for the first time Commission – a form of sales force compensation in which the amount paid is in direct proposition to the accomplishment of specific objectives. Company sales forecast - a prediction of unit or dollar sales for the given period in total or broken down by product, segment or other categories’ and based on the marketing strategy that will be put in place A Prospect - a potential buyer interested in the seller’s product Quotas are quantitative objectives used to direct sales force activity and evaluate performance. Sales territory – all the actual and potential customers often within a specific geographic area, for which the salesperson has responsibility Sales management is the management of Personal Selling function. Personal Selling is a person to person process by which the seller learns about the prospective buyers want and sees to satisfy them by offering suitable goods or services and making a sale. (Keokemoer 2005) Selling is convincing the prospect to convince him or her to buy a product or service. Buyers can buy without a salesman being presented but they tend to buy minimum quantities and to confine their orders to known lines. Importance of Salespeople in management A sales function covers such activities 1. The presentation, demonstration and sale of company goals, negotiation...
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