Marketing Exam 4 Guest Speaker 2 questions Russ Klein Executive Vice President Chief Marketing Officer Arby s Klein has lead the development of a new growth strategy new menu vision and NPD process that kicked off just this past Sunday night with the national launch of their new Hot Turkey Roasters campaign Advertising no book Personal Selling Chapter 19 13 questions Channels from Carmen 7 questions Chapter 19 o Intro Have a deep understanding of client Selling a solution not a product o The scope and nature of personal selling IBM sell to meet business need not just to sell at product Personal selling the two way flow of communication between a buyer and seller that is designed to influence the buyer s purchase decision Salespeople reps account executives agents Personal selling as a career Reasons o Lifestyle flexible Evaluated on results o Variety of the job requires creativity o Lucrative career The value added by Personal Selling o Personal selling is worth much more than it costs Provides info and advice Saves Time and Simplifies Buying Let them facilitate but never take over Building Relationships Relationship selling commitment to maintaining the relationship over long period of time for mutual benefits Exhibit o Going virtual Telepresence video comm Less business travel o Personal Selling Process 1 Generate and Quality leads Leads list of potential customers network cold call o Telemarketing is Cold call always on phone Low success rate expensive Increased gov t regulation o Quality leads asses a lead s potential Find out whether they need and can afford it Never judge book by its cover treat everyone well Trade show major event to be exposed to suppliers 2 Preapproach and the Use of CRM Systems Occurs prior to the meeting the customer for the first time and extends the qualification of leads plans to meet them o CRM systems allow for data to research o Role playing simulation to practice 3 Sales Presentation and Overcoming Reservations The presentation o Quickly establish where customer stands Listening is just as important apply knowledge Similar to RFP process of B2B buying o Handle reservations Listen and respond 4 Closing the sale purchase o Soft selling Meaning obtaining a commitment from the customer to make a Not worried about landing a single transaction Suggest and nudge help them solve with info Goal is to keep them for life 5 Follow Up Prime opportunity to build relationship o 5 Dimensions Reliability Responsiveness Assurance guarantees Empathy Tangibles most subtle o Must be able to handle complaints Resolve quickly and listen Check in with customer right after service is performed Sales management planning direction and control of personal selling Recruiting selecting training motivating compensating and o Managing the sales force activities including evaluating Sales force structure Company sales force or manufacturer s representative o Sales force people who are employees Established for product lines Company has more control over them bc they are employees o Reps agents who are on contract Used for smaller firms Most agents have more than one contract More flexible to replace Salesperson duties o Order getting identify potential customers and engage Also follow up B2B new buy and modified new buy o Order Taking Process routine orders or reorders o Sales Support help with overall effort Ex Geek Squad o Combination Duties Ex A expert at Staples Selling teams combine sales specialists whose primary duties are order getting taking or sales support but work together to service important accounts Impossible as firm grows large Recruiting and Selecting Sales people Know what they will be doing and traits that will enable them to do well Traits o Personality people like them o Optimism help them be resilient o Resilience don t take no for an answer o Self motivation o Empathy Sales Training Techniques product knowledge tech time management company policy Online or on the job Motivating and Compensating Salespeople Financial rewards o Salary fixed o Commission of volume The most incentive for them to sell o Bonus o Sales contest short term incentive Non financial rewards o Good feeling to make sale o Getting recognized Evaluating using metrics o Only evaluated on what they can control o Managers should use multiple measures because it is complex Objective sales profits volume Subjective behavior o Ethical and Legal issues Sellers actions are more visible to everyone 1 Sales manager and sales force Laws for hiring and compensation discrimination 2 Sales force and corporate policy Between ethical sell and what company is asking to do 3 Sales person and the customer It is the right thing to do and means good business o Managers should lead by exam ample o Exhibit o Pharm bribes v time o Doctors prescribe drugs that are not their primary choice
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