...SALES AND MARKETING SERVICES MANAGEMENT NOTES FOR 1ST WEEK Francisco T. Africa PROMOTIONAL TOOLS: The promotional tools available to any firm are typically classified into: 1. Personal selling – direct communication with an audience through paid personnel of an organization or its agents in such a way that the audience perceives the communicator’s organization as being the source of the message; 2. Advertising - is a non-personal form of communication intended to persuade an audience (viewers, readers or listeners) to purchase or take some action upon products, ideals, or services. 3. Sales promotion - Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability 4. Publicity - At its core, publicity is the simple act of making a suggestion to a journalist that leads to the inclusion of a company or product in a story Personal selling is differentiated from the other promotional tools in two ways: 1. Personal selling is personal communication, whereas advertising and sales promotions are non-personal. 2. In personal selling, the audience perceives the message as being delivered by the organization, whereas in publicity, even when it is in the form of personal communication, the audience typically perceives the media, not the organization, as being the source of the message. SALES MANAGEMENT PROCESS: Sales management is simply...
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...Sales and Marketing: Riordan has a system to track historical sales. In the past, most sales data was recorded using paper and pencil. In the last few years, the firm has managed the information electronically. Information available includes the following: * Dates including order, delivery, and payment dates by order. * Unit and dollar volume of each product including plastic bottles, fans, heart valves, medical stents, and custom plastic parts rolled up to be examined by product group and customer. * Sales by customer to include price paid, cost, margin, and discount given. The firm is attempting to consolidate customer information to deliver better value to the customer. The firm has historical records in many disparate databases, as well as in paper files and microfiche. Below is a listing of information the firm has available to consolidate into a CRM system. Marketing should consist of strategies that you can measure your reach and work to persuade your prospects that you are the company for them. It's the message that prepares the prospect for the sale. It could consist of advertising, public relations, social media, relationship marketing, brand marketing, viral marketing, and direct mail. The sales process consists of interpersonal interaction. It is often done by a one-on-one meeting, cold calls, and networking. It's anything that engages you with the prospect or customer on a personal level rather than at a distance. Most the time the prospect or...
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...Mwenda Kirera. A study of the behavioral characteristics of the best sales people was published a few years ago by Dave Kahle a renown sales management trainer and One of the not-so-surprising conclusions was this: The best sales people “listen more constructively” than their more average counterparts. I just came across some research that confirmed what many of us in the profession of educating salespeople have known for years: That purchasers would be “much more likely” to buy from a salesperson if that salesperson would just “listen” to the customer. The survey found that some of the worst offenders were experienced salespeople. Listening is one of the four fundamental competencies of a professional salesperson, and yet, the profession is, in general, so poor at it that most customers remark on our inability to do it well. a look at vacancy ad in dailies you will see more and more companies put emphasis on other sales competencies and leaving out listening. A good talker with outgoing personality fitted very well in the conventional description of a sales person. Many sales people in most companies today are oriented to talk and talk to customer until the customer/ prospects drops dead or buys! Moreover, salespeople today are so much driven by targets and with a lot of whipping from the sales managers to hit the quotas that listening to customers has become secondly. Why is listening such a powerful sales competency? 1. Customers ‘pain’ can only be identified by digging...
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...es and Marketing basics Marketing Basics http://www.du.ac.in/fileadmin/DU/Academics/course_material/EP_16.pdf 16.0 Introduction 16.1 Objectives 16.2 What is ‘Marketing’? 16.2.1 The Marketing Concept 16.2.2 Marketing versus Selling 16.2.3 Importance of Marketing in Small Business 16.2.4 Marketing of Services 16.3 Marketing Research 16.4 Market Segmentation 16.5 Marketing Mix 16.6 Other Marketing Strategies 16.6.1 Sub-Contracting Exchanges 16.6.2 Tender Marketing 16.6.3 Consortia Marketing 16.6.4 Government Stores Purchase Programme 16.7 Product Life Cycle: Concept and Significance 16.7.1 Stages in Product life cycle 16.8 Marketing Problems of Small-Scale Units Introduction The objective of all business enterprises is to satisfy the needs and wants of the society. Marketing is, therefore, a basic function of all business firms. When a salesperson sells washing machines, a doctor treats a patient or a Government asks people to take their children for getting polio drops, each is marketing something to the targets. Traditionally, small firm owners did not give as much importance to marketing as to other functions such as accountancy, production and selling. Training programmes, enterprise development and the current thrust for competitiveness have now given high priority to promoting marketing awareness among small business owners, and marketing is now assuming its rightful place along with other business functions. Since early 1990s...
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...Riordan Manufacturing a system that keeps track of historical stales. This database contains information needed to compare sales from the past and use the results to determine the outcome of certain decisions that need to be made within the company. Included are dates of certain events, such as ordering, delivering and payments. The unit and dollar volume for all products manufactured at Riordan are documented in this database. Marketing research and plans from the past are currently kept in a file cabinet that is accessible to staff to use as reference and a learning tool. Employees can search the research that has been done on certain topics pertaining to the products. This saves time for the employees performing the tasks and helps the employee to forecast the possible results of certain issues. This also prevents mistakes from the past being made again, resulting in a variety of outcomes that could have been prevented if that past knowledge was present. The Sales database includes the 15-20 major customers of the company; this includes a government contract for fans. According to the intranet site, the company also has 12 minor customers that they service. With this system, each member of the sales department is responsible for maintaining their portion of the database. As it states in the intranet site, there is an inconsistency in the method of the record taking by the various employees. To obtain consistency, there needs to be one database, and one...
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...Effective Marketing Plan NONPROFIT TIPS FOR PROFIT TIPS Raising Money - Today's Times - Angel Investors The Tools - The Elevator Pitch - Investor Presentation - Business Plan - Financials Strategic Issues - Challenging Times - Competitive Barriers - Measuring Performance - Outsourcing - Strategic Alliances - Strategic Planning - Sustainable Growth Sales & Marketing - Better Branding - Developing E-newsletters - Online Feedback - Market Analysis - The Plan The Human Element - Hiring/Keeping Employees - Advisory Boards - Corporate Board Miscellaneous - Selling Your Business Unlike a business plan, a marketing plan focuses on the customer. It is your plan of action - what you will sell, to whom you will sell it, how often, at what price, and how you will get the product to the buyer. It also covers what you’ll say about your product or service, and where and when you’ll say it. Here’s a closer look at putting together a marketing plan that works. 1. Define Your Product’s Features, Benefits and Distribution: Describe what the product or service does, how it works, what features it offers and most importantly what problem it solves - people buy solutions. Describe the product’s physical characteristics such as size, weight and color. Define its benefits in emotional as well as functional terms. Know which features and benefits of your product or service will appeal to different market segments. Give information on pricing, including...
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...Differences between Marketing and Sales Marketing Sales • Marketing is more concerned with the needs of the buyer • Sales is more concerned with the needs of the seller • It is preoccupied with the idea of satisfying a customer's need with products along with associated processes of creating delivering and consumption • It is preoccupied with the seller's need to convert his product into cash • It has a broader range of activities to sell products/services and client relations, determining future needs and strategising on how to meet those needs • It makes the customer demand match the products offered by the selling party • Marketing follows a one to many approach • Sales follows a one to one approach • Marketing aims at building brand identity to become easily associated with needs fulfilment • Sales aims at satisfying needs through individual interaction and not concerned with building brand identity • Marketing follows pull strategy. • Sales follows push strategy • Its scope covers Market research; Advertising; Sales; Public relations; Customer service and satisfaction . • Its scope is concerned with product being created for a customer's need, persuading the customer to purchase the product to fulfill his/her needs • Marketing is the sum total of all activities that lead upto the generation of prospects • The sales team takes over once the marketing team is done with its job in the sense of converting those prospects into sales • Marketers don't experience...
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...Erik Benjamin Student ID 5255640 MGT 240 Marketing and Sales Assignment 1: Market Research 1. Let’s say you have developed a new, all natural granola style cereal. You want to see the reaction of a range of people to the product, so you decide to set up focus groups to sample the cereal. In one to two pages, describe how you would carry out a focus group review of the cereal. a. How many people would be included in the focus group? A focus group is used to gain feedback and opinions from potential customers. My focus group will consist of a small group no less than six and no more than twelve participants to conduct a taste testing of the natural granola style cereal. By selecting less than six participants could lead to limited conversation and reactions to the product. Selecting twelve participants for the focus group will have more diversity within the group. Also, by selecting twelve participants account for any participants who decide not to show for the focus group. By having a small focus group, it minimizes the chance of losing important thoughts, ideas and reactions to the cereal of the participants. b. How would they be selected? There are many of methods to select participants for sampling. Participants shouldn’t be randomly selected in this focus group because the group should consist of participants that will provide the best information for the sampling of the cereal. Selecting the participants will be based on the purpose of the focus group...
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...Riordan Manufacturing Sales and Marketing Your name University Class Date Riordan Manufacturing Riordan is one of the manufacturing companies that produce plastics that has been used in sports and medical industries. Sales and marketing systems of Riordan depends on today’s standards of integrated information management. Riordan is computerizing its sales and marketing systems to handle their customers efficiently. It is also working on attempting to consolidate customer information to provide good value to the customers. They use microfiche and paper files to keep their database and records. Sales and Marketing reviews “Riordan focus is to consolidate their customer information therefore sales department has started to transfer their old data to CRM system. Its historical data can be tracked electronically, which includes dates including order, delivery, and payment dates by order” (Riordan, 2006). Riordan produce Unit and dollar volume of each product including plastic bottles, fans, heart valves, medical stents and custom plastic parts. It has 15-20 main customers and 12 minor customers. Each department uses their own tools and systems to handle their sales and customer information. Some sales team use pen and pencil while other use software like ACT. To understand customer needs, the firm is focusing on new integrated customer management system. Riordan do not have any specific system to track...
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...Question 1: -When sales are disappointing, Marketing blames the sales force for its poor execution of an otherwise brilliant rollout plan. -The sales team, in turn, claims that Marketing sets prices too high and uses too much of the budget, which instead should go toward hiring more salespeople or paying the sales reps higher commissions. -Sales departments tend to believe that marketers are out of touch with what’s really going on with customers. -Marketing believes the sales force is myopic—too focused on individual customer experiences, insufficiently aware of the larger market, and blind to the future. undervalues the other’s contributions. -they were out of sync. -Sales cycles are shorter, market-entry costs go down, and the cost of sales is lower. -EX: IBM – Channel Enablement: Sales and Marketing operated independent of one another: +Salespeople worried only about fulfilling product demand, not creating it. +Marketers failed to link advertising dollars spent to actual sales made. * So Sales obviously couldn’t see the value of marketing efforts. +Marketing’s new product announcements often came at a time when Sales was not prepared to capitalize on them. * Because poor coordinated. Summarize based on Research: -The marketing function takes different forms in different companies at different product life-cycle stages. -The strains between Sales and Marketing fall into two main categories: economic and cultural (HOW?) -It’s not difficult...
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...he consumption and production of marketed food are spatially separated. Production is primarily in rural areas while consumption is in urban areas. Agricultural marketing is the process that overcomes this separation, allowing produce to be moved from an area of surplus to one of need. Food reaches the consumer by a complex network, involving production, assembly, sorting, packing, reassembly, distribution and retail stages. In developing countries the linkage between the producer and the retailer is still usually provided by assembly and wholesale markets, where wholesale marketing takes place using a variety of transaction methods. Recent years have seen an expansion of wholesale marketing in E. European and former CIS countries. On the other hand, the growth of supermarkets in many regions has seen the development of direct marketing and a reduced role for wholesale systems. Contents 1 Transaction methods 2 Wholesaling trends 3 Types of wholesale market 4 Representative bodies 5 References 6 Further reading Transaction methods Wholesaling facilitates the economic function of buying and selling (usually termed as "price formation") by allowing the forces of supply and demand to converge to establish a single price for a commodity. The wholesaler may also perform storage and warehousing functions, as well as allowing economies of scale to be obtained in the transportation of produce from farm to market. The people involved in wholesaling...
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...Emerging sales and marketing challenges in the global hospitality industry Author: Rishi, Meghna; Gaur, Sanjaya S Abstract: Purpose - This paper attempts to identify the emerging themes that can shed light on the sales and marketing issues and challenges being faced by global hospitality organizations. Design/methodology/approach - The paper utilizes a multi-method approach for data collection. A thorough literature review, a focus group and personal interviews were conducted to explore the themes and construct a tentative thematic web. Publicly accessible secondary data in the form of customer reviews were drawn from world's leading web site - Tripadvisor.com. A total of 702 reviews of the customers of luxury hotels from the world's top two tourist destinations - France and USA - were analyzed, using thematic analysis. Customers' perspective is juxtaposed with industry's perspective to offer insights on the sales and marketing issues and challenges being faced by hospitality organizations globally. Findings - Marketing challenges, namely personalization/customization of services, service management, creating a strong parent brand, under-utilization of the social media and diverting tourists from heritage properties, are identified as some of the key emerging sales and marketing issues and challenges faced by the global hospitality industry. Practical implications - Analytically identified themes in this research paper provide valuable insights on issues and challenges...
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...conflicts between Sales and Marketing. Some might consider sales and marketing synonymous, one task split into two. However this could not be further from the truth. Sales are activities that lead to closing the deal and signing an agreement or contract. Marketing is the courses of action implemented to reach and persuade prospects. Different in culture and personality, marketing and sales are traditionally at odds but cannot successfully perform their assigned tasks without the other. To avert the negative impact that arises from this conflict vigilant observation and swift action is necessary. Only in this way can a company's management can control the situation between the divisions. Particularly for a consumer product company, as the average level of consumer savvy increases, the importance of the sales and marketing departments working in sync becomes even greater. The conflict between sales and marketing is essentially a consequence of the two groups viewing the world differently. This impedes communication and integration of the departments. One of the clearest ways to comprehend the different views is a thorough understanding of the culture conflict between sales and marketing. Each subdivision has its own agendas, priorities and opposing ways of performing its responsibilities. An example of this is the acceptable length of time it takes to see results. Salespeople see planning in terms of short term objectives to meet customer demands. Marketing personnel use long...
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...Impact of marketing strategy on sales performance Introduction There is no doubt that marketing is the only way used in providing the right products or services to the right customer in the right time. Any marketer can’t achieve any sales growth without setting and establishing proper marketing strategies, which enable the company to achieve the highest level of profitability and increase its sales performance more than the other competitors of the same industry. Recently, it has become the most essential managerial process in the organization where it determines the different demands of customers and tries to promote their products or services to the target customers and make them satisfied, so they will increase their sales margins, as well as the net profits after selling the service or the product. According to Page and Baines (2008) marketing is considered a strategy conducted by firms in order to improve both the market share and profitability ratio. Therefore, organizational marketing departments try to employ some of strategies to promote its products whether in the local or the international markets. However, these marketing strategies must be customized according to the geographical areas and the demographics of the target customers in order to attract customers and increase the sales performance of the company. Company Overview United Media Services Company has its own services in publishing and advertising monthly magazines and annual outlets during various occasions...
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...questions at the right times. We believe in protecting all confidential company information, as well as nonpublic information entrusted to us by employees, customers and other business partners. We will not disclose confidential and nonpublic information without a valid business purpose and proper authorization. We create, retain and dispose of our company records as part of our normal course of business in compliance with all policies and guidelines. All corporate records must be true, accurate and complete. Company data must be promptly and accurately entered in our books in accordance with accounting principles of GAAP. We will treat each transaction as if it was our own personal accounts. Marketing and Sales Manager Composition (teamwork activity) * Planning and managing sales and...
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