...Sales Relationships How would you define a sales relationship? Sales relationships are about building long-term relationships with customers and the process does not happen overnight. Sales relationships can be built by reaching out to customers, offering rewards and incentives to come back to the company to purchase more products, and offering the type of customer service that customers love to receive. This paper will discuss sales relationships and compare and contrast the cost of customer retention verses customer acquisition. Business-to-Business Retention and Acquisition Business to business sales can be astronomical. An example of a business to business transaction is a small company selling a large amount of product to the Wal-Mart Corporation for Wal-Mart to market in all of the organizations stores. Wal-Mart strives in selling the merchandise for a low price but wanting to make a profit in bulk. The benefit about Wal-Mart is that the company can be very beneficial to other patent holders because of how fast Wal-Mart can sell an item once the item enters the company’s doors. Another company that should be explored is Sam’s Club (which is owned by Wal-Mart). Sam’s club on the other hand allows consumers to purchase in bulk for his or her small business. The point that needs to be brought up is that at least half of the profit that Sam’s Club brings in the doors is from small business accounts. Sam’s Club offers bulk refills to candy machines and the ability to...
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...Relationship Between Advertiser and Sales Representative Penny E. Webb Southern New Hampshire University Relationship Between Advertiser and Sales Representative Penny E. Webb Southern New Hampshire University Abstract This paper explores the relationship between and advertiser and their newspaper sales representative. Advertising is a major source of revenue for newspapers and the relationship between sales representative and advertiser is crucial. This paper takes the advertising revenue of one outside sales representative for a five (5) month period in 2013 and compares it to the same five (5) months in 2014. The comparison takes place after advertising accounts under three thousand dollars ($3k) are moved to an inside sales representative. The data was analyzed and the hypothesis that an advertiser spending under $3k increases their spend when moved to an inside sales representative, while the alternate hypothesis was rejected. Keywords: advertising revenue, outside sales representative. Relationship Between Advertiser and Sales Representative Introduction: The newspaper industry is facing a decline in advertising dollars, a major source of revenue and has to do more with less money. Almost half – 46% – of the world’s population visits newspaper websites, but newspaper comprise just 6% of total visits, 0.8% of page viewed and 1.1% of total time spent with digital platforms.(Marketing Charts staff, 2014) Newspaper advertising is down over fifty percent in the...
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...Sales Relationship Paper University of Phoenix – MKT 445 June 23rd , 2012 Customer retention and customer acquisition have become a crucial part of business. Severe competition has allowed for these two methods to be a relevant force within organizations for the sole purpose of survival. Customer retention is the process of maintaining a substantial amount of valued customers. On the other hand, customer acquisition is the process of attaining new customers. Similarities and differences are present in the retention and acquisition of customers. In business-to-business and business to customers, sales relationship approaches are used inversely during sale activities to secure retention. Comparison/Contrast The expense for customer retention and customer acquisition varies within each organization but have similarities with its implications. Some similarities include the purpose activities, strategies and direct relationship. • Purpose: The purpose of a business to devote efforts to customer retention and customer acquisition is to increase sales of a product or service. Businesses implement these two activities to secure a large base of customers. • Activities: The expenses accrued for performing customer retention and customer acquisition exists in business-to-business and business to customer. • Strategies: Cost of strategies used for retaining and acquiring the customer is also identical in terms of sales activities. • Direct relationship:...
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...Table of Contents Cover Page P.1 Table of Contents P.2 I. Introduction P.3 II. Background and Business nature of the company P.3 III. Brand and marketing mix strategies P.4 IV. Marketing initiatives in establishing, growing and retaining the client relationship P.8 V. Recommendations to enhance brand loyalty and repeated purchases from existing clients P.11 VI. References P.14 I. Introduction Recently, many organizations are improving marketing strategies to meet customers’ expectation in the keen competitive business environment. They are not only enhancing product and service qualities, but also strengthening staff training and implementing customer relationship management (CRM). Loyalty programmes have launched in various industries to retain customer loyalty as which is considered as an effective way of long-term profitability1. The rate of fixed broadband penetration in Hong Kong (HK) is the highest of all over the world. In 2013, there were 194 Internet Service Providers (ISPs) licensed providing services in HK2. With increased competitions, customer retention may improve revenues than customer attraction. In this article, we are going to study the marketing strategy of one of the fastest growing broadband service providers, the Hong Kong Broadband Network Limited. II. Background and Business nature of the company Hong Kong Broadband Network Limited (HKBN) owns and operates one of the largest fiber optic networks in HK providing the world’s fastest...
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...reviewing the two interviews. The way the candidates describe their experience shows off that they have , even if in different views, a role perception about the job. Furthermore, opposite motivations and aptitude to the work are remarked through their expectancies and behavioral strategies. They present skill levels depending on their carrier’s path . I think organizational (defining only the area) and the environmental factors relating to the job are missing. 2. In my opinion, Dag Wicklo (DW) has a better perception of the work is going to do because of his previous experience in this field as employee and his love for selling and speak with people. Katharine Bryant (KB) knows the specific technical language but she never work as sales in this particular field and maybe she doesn’t know or remember what does it means to work as employee instead of being an owner. For J.P. Reynolds I think a good variable for perception could be the accuracy in the way candidates see the job with all the pro and cons, so being experienced in this particular field matters. Within motivations I can see again a remarkable will to make money from DW and but I could not for KB. She doesn’t feel stimulate to gain money and this could affect her performance as well. The company’s point of view on motivations has to be in line with maximization of the opportunities. DW seems more willing to try to exploit his balance with the company’s revenues while KB has a lack on this particular topic. J.P...
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...The Relationship Between Gasoline Sales and Vehicles Miles of Travel Rufat Rahmanov Quantitative Research Methods (EC 315) Professor Kathleen Vinlove October 7, 2008 Park University Purpose Statement and Model I have chosen this particular model for research paper because I am a business major. At the present time world economy faces the situation of the high petroleum prices. Thus, the understanding of what factors and how they affect on the increase or decrease of the sales of the gasoline is considered to be very relevant. The dependent variable “Annual prime supplier sales volumes of regular gasoline per capita” is determined by the following independent variables “Annual vehicle miles of travel per capita”, “Personal income per capita” and “Retail price of regular gasoline”. The model is: Yi=β0+ β1X1i+ β2X2i+β3X3i+ ei Definition of Variables and Data Description Y: As it was already stated, my dependent variable is annual prime supplier sales volumes of regular gasoline per capita. Prime supplier is a firm that produces, imports, or transports selected petroleum products across State boundaries and local marketing areas, and sells the product to local distributors, local retailers, or end users. Regular Gasoline is gasoline having an antiknock index (average of the research octane rating and the motor octane number) greater than or equal to 85 and less than 88. Per capita sales data was obtained by dividing the total sales of regular gasoline by total...
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... listening and empathy skills on the relationship of the customers with the employees. Companies love long-‐term relationships because they translate into returning and repeat customers. Research has shown that it is generally more profitable to service a return customer than to attract and serve a new one (Aggarwal et al, 2005). Furthermore, the effective management of employee-‐ customer relationships has been linked to strategic marketing advantage (Turnbull and Wilson, 1989) and long-‐term profitability (Reicheld, 1994). The employee-‐customer relationships are equally valued by customers (Berry and Parasurman, 1991) and motivate them to make purchases. Because of the importance of the customer-‐employee relationships it is important to examine the factors that influence the perceived quality of this relationship. This relationship quality has a direct affect on the...
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...with respect to the clients however; it will also require company resources that include the money and time of the consultant. This is a major reason why ENSR always tries to make their business around geographies. Furthermore, organizing around service lines would help the company in efficiently utilizing the company’s resources with respect to desired level of expertise. Moreover, organizing around industries and clients will be helpful in securing clients more efficiently but with a greater level of expense. Moreover, the key accounts program will also help the company in securing relationships with potential and existing customers of ENSR. 2) How could the BDO solution look like in detail? Who would do what? How would the new organization chart look like? Which problems would be solved, which not? Business Development officers are the ones who are engaged in developing relationships with current and potential clients of the company. The business development officer solution was initially implemented in the 90s era as a part of company’s long-term strategy to boost the growth. As of now, the company needs to have at least 20 to 25 business development officers who would then help ENSR to grow their business. The business development officers will not be like the consultants in ENRS who were paid a salary despite the fact that they are working or not. The primary job of business development officers would be...
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...a retail chain of footwear apparel sales. Each of the five store locations has an independent system. They have hired a consultant to design a database to keep track of their sales, customers, employees and location information to be used at all locations. The database will be distributed for the advantages of availability, system response and the ease of adding new store locations in the future (Scalibility). ("DDMS," 2012) The conceptual design of the database consists of six tables, including Customer, SalesPerson, Sales, Order, Inventory and Location. (see Figure 1) The design allows for salespersons to be associated with any one location and there is one common product inventory for all the stores so that items can be shared if necessary. In addition, there is a Price table that can hold alternate sales prices for items at select times. The database table is a simple design with only the necessary items for tracking customers, sales, inventory and location sales. The relationships are binary, like salesperson is located only at one location at a time, and ternary, in the case of Sales Person, Customer and Inventory, with a sale as the intersecting item. Gillenson, M., et al. (2008). The relationships are defined as follows: * Customer Table one to many binary relationship with Order Table * Order Table many to many ternary relationship with Inventory Table and Customer * Inventory Table one to one binary relationship with Price Table * Inventory Table...
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...Philosophy Personal Selling is a process of developing relationships; discovering needs; matching the appropriate products with these needs; and communicating benefits through informing, reminding, or persuading. The development of a personal selling philosophy for the information age involves three prescriptions: 1) Adopt marketing concept. 2) Value personal selling. 3) Assume the role of a problem solver or partner in helping customers make buying decisions. Personal Selling as an Extension of the Marketing Concept When a business firm moves from a product orientation to consumer orientation, we say that it has adopted the marketing concept. This concept springs from the belief that the firm should dedicate all of its policies, planning, and operation to the satisfaction of the customer. Promotion can be further subdivided into advertising, public relations, sales promotion, and personal selling. Personal selling is the major promotional method used in business. Evolution of Consultative Selling Consultative selling emphasizes need identification, which is achieved through effective communication between the salesperson and the customer. The salesperson establishes two-way communication by asking appropriate questions and listening carefully to the customer's responses. The salesperson assumes the role of consultant and offers well-considered recommendations. Transactional selling is a sales process that most effectively matches the needs of...
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...Introduction: This report will explain to the management of SPSL about the best promotional tool that they need to use to increase awareness and market share in Manchester based on the case study. Benefits of employing a sales force: The various types of promotional tools that are used by business organisations like SPSL are: advertising, public relations, trade event, direct marketing, sales promotion and personal selling. Advertising: Advertising is the process through which a company draws attention of the members of public about its products and services by communicating it to them through advertisements which are communicated through various sources of medium like TV, Radio, news paper and leaflets. The main disadvantage of advertising is it involves high costs (Bertrand et al, 2010). Public Relation: Public relation is the process through which a company communicates the positive messages about itself and its services through press releases and events that are conducted by the company. The main disadvantages of public relation are that designing and implementing a public relation campaign is a complex process and the success of the process is hard to measure (Karimi, 2013). Trade Events: Trade events are processes through which a company displays its products and services to the members of the public to create awareness through trade fairs to create awareness and increase its market share. The main disadvantage of conducting trade events for a company is that they...
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...services and solutions, this will align with the industry’s direction toward the changes governing environmental safety. This solution based sales team will need to be able to understand the changing environmental laws, sanitation issues, and OSHA standards for the company’s we will service, and sell our products too. The sales manager and human resource department will develop a job analysis, and select seven positions for a sales team with a workforce planning for the future direction of the company. The selection method will include the advantages, and the disadvantages used in hiring these five employees. The sales manager will also include their knowledge, skills, abilities, and what role they will play on this team. Job Analysis The job analysis concentrates on the base of what the job is about, information on the contents of the job. A job description and data for recruitment, job evaluation, training and performance management (Armstrong, 1999). The job requirements will be the base qualifications on expected performance that aligns with the company’s objectives. This information will come from observations from experts in the field, and from the industry to understand the future growth of the company. InterClean and Enviro Tech sales staff has been trained differently in the expectations in their selling staff, one has pushed sales as the best indicator of doing their job efficiently, the other has looked at the retention of...
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...Ridnour defines sales culture as a growth orientated facet of the market orientation in which all employees are expected to contribute to the creation of value for customers by actively participating in the selling process. It can be seen in the Romano Pitesti case that both Tickford Flexible Products and Samuel Jones Ltd had very different sales cultures and operate in different markets, therefore have different customers. Ridnour goes on to state a marketing orientated organisation not only wants it keep its customers happy, it also wants to grow existing relationship and create new ones. It is evident that Tickford Flexible Products wants to grow and create new relationship as they want to merge with Samuel Jones Ltd, the managing director of Tickford Flexible Products says that “put our expertise in moulding technology alongside their distribution network, and it could be one of our main product lines”. The managing director sees the merger as an opportunity to create relationships and strengthen existing relationships. Ridnour proposes several variables which can indicate a strong or weak sales culture, these are; sales training, performance pay, selling activities customer service and commitment. At Samuel Jones Ltd employees were paid a commission on top of their salary, this promotes employees to work harder to be rewarded and a high sales culture. Although, at Tickford Flexible Products employees were not paid a commission just a salary, this promotes a low sales cultures....
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...Situational Leadership Suki Andrews, Sales Supervisor, Listo System Introducation Leadership style is a form of cross situational behavioral consistency. It refers to the manner in which a leader interacts with his/her subordinates. It is the ability to influence a group towards the achievement of goals. Leadership style is fixed, that it is, either relation oriented or task oriented. Situational influences thus constrain the leader who must adapt his or her style of leadership to the situation at hand. However, leaders must first identify their most important tasks or priorities. Leaders must consider the readiness level of their followers by analyzing the group’s ability and willingness. Depending on the level of these variables, leaders must adapt the most appropriate leadership style to fit the given situation. Analysis of Findings Suki Andrews supervises a unit of sales representative at Listo Systems, a graphic service agency. The performance of her sales officers have declined and daily tasks have also been neglected by them. Customers complained for not completing their invoice orders quickly enough. Suki sets meeting with her sales representative and listed a problems that were occurring. She reminds that their unresponsiveness and omissions could result in major financial hardship for the company through a loss of sales and customers and reviewed the schedule for daily tasks and invoice procedures. Due to the working performance of her sales officers she takes decision to...
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...drives profitable sales and increases customer satisfaction by providing complete tech solutions including products and services to small and medium sized businesses. Primary Responsibilities: Develop relationships with new and existing business customers leading to profitable sales Utilize expert knowledge to develop business solutions that meets customers current and ongoing business needs Work in a fast paced retail for business environment collaborating with customers, management and store associates Acquire Business Customers: Develop new business primarily through in person contacts, phone follow up and in-store presentations Partner with store management team on the development of key business customer accounts and relationships within the local business community including the Top Customer Program Engage in self-directed continuous improvement of sales and technical knowledge Develop Business Customers: Drive our best in class Easy Selling process to identify customer needs, develop value added solutions and increase Staples share of wallet with every customer Establish, build, and expand relationships with existing and potential business customers providing unique solutions that will best meet their needs Retain Business Customers: Manage the customer experience throughout the selling process (sales/service) Achieve assigned weekly and monthly sales activities and generation goals Manage customer relationships, building satisfaction...
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