strategic marketing (Subject) / SM (Lesson)

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• The evolution of the seven steps of selling 1rospecting 1+   Prospecting , 2)Pre-approach 3) Approach 4) Presentation 5) Overcoming objections 6) Close 7) Follow-up
• Prospecting Def: Prospecting is the method by which salespeople search for new customers and potential customers. One obvious reason for prospecting is to expand the customer base TF: Telemarketing, internet selling, organisational prospecting, social media ESP: Customer retention and deletion
• 2) Pre-approach TF Laptop account data, support staff ESP 2) Database and knowledge managment
• 3) Approach TF: Build a foundation ESP: 3) Nurtering the relationship ( relationship selling)
• 4) Presentation TF: Powerpoint/multimedia, Listening, teamselling, Multiple calls, value-added buying centers ESP : 4) Marketing the product
• 5) Overcoming objections TF: Predetermining needs ESP: 5) Problem solving
• 6) Close TF: Indentifying mutual goals ESP: 6) Adding vlue/satisfying needs
• 7) Follow-up TF: Increased effectiveness of communication throgh technology ESP : 7) Customer relationship maintenance
• Personal selling is a process of... Developing relationships Discovering needs Matching products with needs Communicating benefits
• The Marketing Concept is principle that holds that achieving organizational goals depends on : •Knowing the needs and wants of target markets •Delivering the desired product }Paths to sales and profits are: •Customer focus •Value
• Personal selling has evolved because: Products and services are more sophisticated and complex   Competition has greatly increased   Customer demand for quality, value, and service has risen sharply
• Develop a Relationship Strategy...  Adopt a win-win philosophy  Project a professional image  Maintain high ethical standards
• Develop a Product Strategy for sales:    Become a product expert  Sell benefits, not features  Configure value-added solutions    
• Crucial parts for Developing a Presentation Strategy    Prepare objectives  Develop a presentation plan  Provide outstanding service  
• How to Develop a Customer Strategy    Understand the buying process  Understand buyer behavior  Develop prospect base  
• Value Creation Value-added selling = creative improvements that enhance customer experience  The information economy rewards salespeople who add value at each step When customer is not aware of value added by salespeople, the focus may shift to price
• Customer Value Model -4 steps- Part1 : Understand customers value needs Part2. Creating the Value proposition Part3: Communicating the value proposition Part4: Delivering the value proposition
• Selling Through Channels Business-to-Business Channels Outside salespeople interact with potential customers on a face-to-face basis Inside salespeople communicate with customers, identify new prospects, and carry out other sales 
• Manufacturer Selling 4 Kinds of salesperson are... Field salesperson Gains new customers  Increases sales for existing customers Detail salesperson Assists clients with marketing, collects data Not compensated on amount sold Sales engineer Knows technical details Must identify, analyze, and solve customer problems Inside salesperson Takes orders Supports field staff
• Relationship and Strategy facts and course of action     Relationships add value Partnering—the highest-quality selling relationship Relationship strategies -focus on four key groups Tailoring the relationship strategy    
• 3 traits helping customers to feel comportable... Honesty Accountability Sincere concern for customer welfare
• Partnering : definition and 2 important fact     Partnering—strategically developed, high-quality, long-term relationship focusing on solving customers’ buying problems It emphasizes building a relationship Selling must be viewed as a process, not an event    
• Three Keys to a Partnering Relationship     Relationship is built on shared values Both commit to same vision Salesperson moves from selling to supporting    
• Adapting the Relationship Strategy 3 kinds of selling... Transactional selling Buyers aware of needs, focus on price Relationship strategy secondary Consultative selling Salesperson listens, defines problem, solves Impact of the relationship is important Strategic alliance selling Build relationship with several people
• Effect of Etiquette on Relationships How to behave: Avoid temptation to start on first name basis Avoid offensive comments or jokes Recognize the importance of punctuality When dining, avoid discussing business before meals are ordered, unless customer initiates When leaving voice-mail messages, leave a clear, concise message Avoid cell-phone contempt
• Use the CARE model to add value Customize Appreciate Respond Execute
• Artifacts Application What are artifacts, and what can you learn from them? The self-selected objects that surround a person are called artifacts  What can you learn from: Pictures in an office? Objects on a person’s desk? The type of car customers own?
• Adaptive Selling is... “Adaptive selling can be defined as altering sales behaviors in order to improve communication with the customer.”
• Facts about Communication-Style Bias Most frequently occurring form of bias Not commonly understood A state of mind that is difficult to explain Develops when we have contact with another whose communication style is different from our own
• Communication-Style Principles 1. Individual Differences 2. Communication Style as a Way of Thinking and Behaving 1. Individual differences exist and are important Each person displays individual array of verbal and nonverbal characteristics 2. A preferred way of using one’s abilities Ability is how well you can do something Style is how you like to  do it
• Communication-Style Principles ndividual Styles : facts   Most people display one of several behavioral clusters We can often “label” a person’s preferred communication style Based on hereditary and environmental factors Our “style” tends to remain rather constant through life The ability to “flex” can be enhanced      
• Communication-Style Principles 5. Get in Sync with Styles of Others Communication style differences can be source of friction Develop an ability to adapt to another person’s style
• Improving Relationship Skills 3 goals First goal: understand your own preferred communication style Second goal: develop greater understanding and appreciation for different styles Third goal: manage selling relationships  by adapting style (style-flexing)
• Emotive Style Traits Appears quite active Takes social initiative Encourages        informality Expresses          emotional opinions
• The four style traits: Directive Style Traits     Appears quite busy May give the impression of not listening Displays rather seriousattitude Likes to maintain control    
• Reflective Style Traits Controls emotional expression Displays preference for order Tends to express measured opinions Seems difficult to get to know 
• 1 .Selling to Emotives , 2. Selling to Directives 1. Be enthusiastic Don’t be too stiff or formal Take time to establish goodwill/relationships Maintain eye contact Be good listener 2. Keep as businesslike as possible Be efficient, time disciplined, organized Identify their goals Ask questions and note responses
• 1. Selling to Reflectives 2. Selling to Supportives 1. Use thoughtful, well-organized approach Present information in deliberate manner Provide documentation Never pressure for quick decisions 2. Take time to build the relationship Listen carefully to their opinions and feelings Provide assurances for their views Have patience, give them time to comprehend 
• Making ethical decisions... facts about ethical decision making and implications for character       They help translate your values into appropriate and effective behaviors  No one uniform code of ethics for all salespeople, but manybusinesses, professional associations, and certification agencies have established written codes Character and integrity strongly influence relationships in personal selling Character is based on your internal values and the resulting judgments Ethical decisions you make reflect your character strength      
• Purpose of / impact of / sharing of : Company policies and practices...     Company policies and practices can have a major impact on conduct Developing ethical policy statements forces company to take a stand Policies should include distributor relations,customer service, pricing, product development, etc.    
• Additional Policy Areas Sharing confidential information Reciprocity Bribery Gift giving Entertainment Business defamation Use of the Internet
• Exercising care with CRM data... CRM software allows storage of transaction data and personal info Record facts, not opinions or conclusions CRM data is ―mobile‖ and other people may see or use it Do not store anything you do not want the customer to see
• becoming a product expert Product development and quality improvement processes  Performance data and specifications Maintenance and service contracts Price and delivery Most clients are interested in product performance and specifications Salespeople must be prepared to answererformance-related questions Data often critical when customer compares various products
• Maintenance and service contracts Provide service-related information in proposal and/or at the time of sale Understand customer‘s service and maintenance requirements Customized service agreements add value
• Sales persons skills in Price and delivery     Clients expect salespeople to be well-versed in price and delivery policies  Giving salespeople price and delivery decision power yields strong position Price objections often common barrier to closing the sale    
• Quantifying the soIution Process of determining if proposal adds value Conduct a cost-benefit analysis using costs and anticipated savings  Calculate a return on investment •Key decision makers respond favorably to ROI
• Know your company! Why?     Salespeople sell their company as much or more than they sell a product Organizational culture is a collection of beliefs, behaviors, and work patterns common to a firm‘s employees Many prospects use  a firm‘s past performance  as index for current  products/services    
• 1.Know your competition 2. Your attitude towars your competition Acquiring knowledge of the competition is an important step  Knowing strengths and weaknesses of competing products allows you to emphasize your benefits Prospects do raise questions about competition—be prepared to answer 2. Avoid referring to the competition during sales presentations Never discuss the competition unless you have your facts straight Never criticize the competition  Be prepared to add value
• Be an industry expert Salespeople need to become an expert in the industry they represent Need to move beyond product specialist to business analyst  Knowledge of industry must be both current and detailed
• List and describe the four major employment settings for sales personnel.  Selling for a retailer - Retailers sell to the final consumer, so final consumer goods such as vehicles, apparel, appliances, furniture, and personal computers fit this category. Selling for a wholesaler - Wholesalers employ over a million salespeople in the United States. Responsibilities of wholesale salespeople might include determining and granting credit, maintaining inventories, and helping with promotional activities. Selling for a manufacturer - These are highly technical sales. The category includes sales engineers, "detail" salespeople, field sales representatives, and inside salespeople. Selling a service - This includes hotel and convention center services, financial services, advertising sales, business services, real estate, and insurance.

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