McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. MEET TODAY’S SALES PROFESSIONAL Ms. Lindsey Smith – Molecular Imaging Products within the Medical Diagnostic Division of GE Healthcare • Skills & Qualifications necessary for success in sales careers • Integrity, Motivation, Trust and Relationship Building, and a Team Orientation • ? and refining - Product Knowledge, analytical and communication skills, and strategic thinking about opportunities to more fully satisfy each customer’s clinical, economic, and technical requirements • Customers – Physicians (radiologists, neurologist, cardiologists), medical technologist, nurses, health care provider CEOs, CFOs and others 17-2 MEET TODAY’S SALES PROFESSIONAL Her Philosophy 1. Creating Value thru every sales call & client ? 2. Serving her clients as a trusted ? 3. Emphasizing GE’s ? & innovation 4. Challenge as opportunities 17-3 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 17, YOU SHOULD BE ABLE TO: LO1 Discuss the nature and scope of personal selling and sales management in marketing. LO2 Identify the different types of personal selling. LO3 Explain the stages in the personal selling process. LO4 Describe the major functions of sales management. 17-4 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT Personal Selling Sales Management Selling Happens Almost Everywhere Cambridge Sales • “Everyone Lives by Selling Something” – sales personnel from manufacturing firms, real estate brokers, stockbrokers, sales clerks; attorney, accountants, bankers, company personnel recruiters 17-5 Personal Selling Personal selling is the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision. 17-6 Sales Management Sales management consists of planning the selling program and implementing and evaluating the personal selling effort of the firm. 17-7 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT PERSONAL SELLING IN MARKETING Salespeople: • 1) Link the Firm and Its Customers • 2) Are the Firm in Consumers’ Eyes • 3) Play a Large Role in the Marketing Program: Especially when? 17-8 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT CREATING CUSTOMER VALUE Salespeople & ? • Identify Creative Solutions to Customer Problems • Ease the Customer Buying Process • Make the After-the-Sale Follow-Up 17-9 Relationship Selling Relationship selling is the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time. 17-10 FIGURE 17-A Comparing order takers and order getters 17-11 LO2 THE MANY FORMS OF PERSONAL SELLING ORDER TAKING Order Taker • Outside Order Takers • Inside Order Takers Order Clerks Sales clerks Inbound Telemarketing 17-12 LO2 THE MANY FORMS OF PERSONAL SELLING ORDER GETTING Order Getter • Outside Order Getters • Inside Order Getters Outbound Telemarketing 17-13 FIGURE 17-1 How outside order-getting salespeople spend their time each week 17-14 FIGURE 17-2 Stages and objectives of the personal selling process 17-15 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 1. PROSPECTING Personal Selling Process 1. Prospecting Stage – the search for and qualification of potential customers. Types of prospect… ?: a potential sales contact (individual or organization) Prospect: a customer who wants or needs the product ? Prospect: An individual who wants the product, can afford to buy it and is the decision maker Cold Calling/ ?: open a directory pick name contact individual/buz 17-16 Personal Selling Process The personal selling process consists of sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up). 17-17 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 2. PREAPPROACH 2. Preapproach Stage – after identifying a qualified prospect, prep for sale begins with the preapproach: involves obtain further info on the prospect and deciding the best ? of approach; how the prospects prefers to be approached (what time? how?), ? in a product or service. 17-18 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 3. APPROACH 3. Approach Stage – initial meeting bet salesperson & prospect; First impression through conversation with a reference to common acquaintances, referral, or even the product or service itself (=? talk: domestic vs. international) • ? • Gestures – handshakes, bow, buiz card, Anything involving a person’s name demand respect 17-19 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 4. PRESENTATION Presentation Stage 17-20 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 4. PRESENTATION • 1. Stimulus-Response Presentation ? Selling • 2. Formula Selling Presentation ? Sales Presentation – treat everyone same • 3. Need-Satisfaction Presentation ? Selling Consultative Selling Adjusting the presentation to fit the selling situation Focuses on problem identification as an Expert on problem recognition & resolution 17-21 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 4. PRESENTATION (cont.) Handling Objections – excuses for not making a purchase decision • Acknowledge and Convert • Postpone • Agree and Neutralize • Acceptance • Denial • Ignore 17-22 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 5. CLOSE 5. Close Stage – obtaining a purchase commitment from the prospect • ? Close – ask about some aspect of the purchase (model color) • Urgency Close – last model, low interest • Assumptive Close – concerning delivery, warranty, or financing term • ? Close – ask for the order 17-23 LO3 THE PERSONAL SELLING PROCESS: BUILDING RELATIONSHIPS 6. FOLLOW-UP 6. Follow-up Stage – requires customer follow-up • ? • ? 17-24 FIGURE 17-3 The sales management process involves sales plan formulation, implementation, and evaluation 17-25 LO4 THE SALES MANAGEMENT PROCESS SALES PLAN FORMULATION Sales Plan Setting Objectives • Output-Related • Input-Related • Behaviorally-Related 17-26 LO4 THE SALES MANAGEMENT PROCESS SALES PLAN FORMULATION Organizing the Salesforce • Structure of the Salesforce Customer Product Geography • Major (Key) Account Management 17-27 FIGURE 17-B1 Organizing the salesforce by geography 17-28 FIGURE 17-B2 Organizing the salesforce by customer 17-29 FIGURE 17-B3 Organizing the salesforce by product 17-30 MARKETING MATTERS LO4 Creating and Sustaining Customer Value Through Cross-Functional Team Selling 17-31 Major (Key) Account Management Major (key) account management is the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships. 17-32 LO4 THE SALES MANAGEMENT PROCESS SALES PLAN FORMULATION Account Management Policies • Whom to Contact • Info to Collect • Activities to Perform 17-33 Account Management Policies Account management policies specify whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out. 17-34 FIGURE 17-4 An account management policy grid grouping customers according to the level of opportunity and a firm’s competitive sales position 17-35 LO4 THE SALES MANAGEMENT PROCESS SALES PLAN IMPLEMENTATION Salesforce Recruitment and Selection • Job Analysis • Job Qualifications • Job Description Salesforce Training • On-the-Job • Other Methods 17-36 LO4 THE SALES MANAGEMENT PROCESS SALES PLAN IMPLEMENTATION Salesforce Motivation & Compensation • Straight Salary • Combination • Straight Commission • Nonmonetary 17-37 LO4 THE SALES MANAGEMENT PROCESS SALESFORCE EVALUATION Quantitative Assessments • Input-Related • Output-Related Sales Quota Behavioral Evaluation • Subjective Measures • Customer Satisfaction 17-38 USING MARKETING DASHBOARDS LO4 Tracking Salesperson Performance at Moore Chemical & Sanitation Supply, Inc. 17-39 THE SALES MANAGEMENT PROCESS LO4 SALESFORCE AUTOMATION AND CUSTOMER RELATIONSHIP MANAGEMENT Salesforce Automation (SFA) Salesforce Technology Salesforce Communication • Internet 17-40 VIDEO CASE 17 XEROX: BUILDING CUSTOMER RELATIONSHIPS THROUGH PERSONAL SELLING 17-41 ICA#14 XEROX 17-42 VIDEO CASE 17 XEROX 1. Why was Anne Mulcahy’s experience as a sales representative an important part of Xerox’s growth in recent years? Mulcahy had begun her career as a sales representative at Xerox. Her experience helped her understand the importance of delivering value to customers and the need for a shift to a ? . Her years as a sales representative also gave her credibility with the sales forces as changes were being made. 17-43 VIDEO CASE 17 XEROX 2. How did the sales approach change after Mulcahy became the CEO of Xerox? :CEO Mulcahy said “We had lost our way in terms of delivering value to customers” “? ” ?- and ?- Oriented 17-44 VIDEO CASE 17 XEROX 3. (a) How does Xerox create customer value though its personal selling process? 1. Identification 2. prepares for a presentation by familiarizing their needs 3. In-depth understanding of the clients’ needs to provide the best solution 4. Sales presentation reinforcing the benefits of the proposed solution 5. Sales 6. after sales, continue to meet and communicate 17-45 VIDEO CASE 17 XEROX 3. (b) How does Alison Capossela provide solutions for Xerox customers? : 50% - w/ customers, 25% - prep for proposals, 25% - follow up activities : ? collect and analyze info about competitors and their products (e.g.,self-kit) 17-46 VIDEO CASE 17 XEROX 4. Why is the Xerox training program so important to the company’s success? 8 weeks training at XU Interactive training sessions & distance learning Why important? 17-47 Order Taker An order taker processes routine orders or reorders for products that were already sold by the company. 17-48 Order Getter An order getter sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service. 17-49 Adaptive Selling Adaptive selling is a needsatisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information. 17-50 Consultative Selling Consultative selling is a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution. 17-51 Sales Plan A sales plan is a statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed. 17-52 Sales Quota A sales quota consists of specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period. 17-53 Salesforce Automation (SFA) Salesforce automation (SFA) is the use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient. 17-54