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SALES & MARKETING PRESENTATION. BASIC Hello! I am Enobong Ezekiel Enobong holds a Bachelor’s degree in English Language and an MBA with specialization in the field of Marketing/Management. She also holds other professional qualifications and is a beneficiary of the British Council Interaction Leadership Programme. Enobong has over 28years+ post NYSC work experience and has worked in various private sectors of the economy ranging from FINANCIAL POWER, FCMG, IT, AUTOMOBILE E-mail [email protected] “ ‘’If you are offered a seat on the rocket ship, don’t ask what seat! Just get on’’…Sheryl Sandberg. COURSE OUTLINE ▷Sales: The Sales Process The Sales Cycle ▷Marketing : Evolution of Marketing Importance of Marketing The Marketing Mix Functions of Marketing ▷Sales vs Marketing . Why are we here????? The Action Selling Process Action Selling shows the salesperson when to plan, when to establish rapport, when to present the company and the product and service capabilities, when to ask for commitment, how to confirm the sale and improve continually THE 5 BUYING DECISIONS PROFESSIONAL GROWTH TIME TO BUY PRICE PRODUCT THE COMPANY/BUSINESS SALESPERSON PLAN TO WIN 1 COMMITMENT OBJECTIVE 2 PEOPLE SKILLS 3 4 5 6 7 8 9 REPLY THE CALL CONFIRM THE SALE ASK FOR COMMITMENT SELL THE PRODUCT SELL THE BUSINESS AGREE ON NEED ASK THE BEST QUESTIONS THE 9 ACTS OF A SALE 6 INTRODUCTION Companies make the mistake of assuming that marketing is just ―one‖ thing, but marketing is everything that the consumer encounters when it comes to your business… from advertising, to what they hear, to the customer service that they receive, to the follow-up care that you provide. It‘s all marketing and creating the decision within the consumer whether or not to choose you initially from the onset or for repeat business. Marketing has come to mean many things. We observe that housewives, who return home after buying vegetables and provisions, state that they have just finished marketing activity. ▷Salesmen, who sell the products of their employers by booking orders from the different merchants also refer to their work as marketing. Thus, buying and booking of orders are both referred to as marketing. To understand the meaning of the terms Sales and Marketing, we would be considering a few definitions. SALES ▷Sales is referred to as the Selling Process. ▷It is the process where products finally flow to the customers who need them in exchange of money. ▷The selling concept is useful for the manufacturers with unutilized production capacity and for those marketers who are operating in a buyers market where the supply of a product exceeds its demand. Such manufacturers and marketers aim at selling what they can make, rather than making new things that can sell. ▷The sellers who try to sell their product by hook or crook through aggressive selling assume very high risks. The sellers will be in trouble and their future sales will be adversely affected. THE SALES PROCESS 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. ▷Managing Your Sales Cycle ▷Prospecting and Lead Generation ▷Setting Appointments ▷Qualifying Prospects and Making Presentations ▷Addressing Objections and Closing the Sale ▷Asking for Referrals THE SALES CYCLE No matter what you're selling, every sale follows roughly the same pattern. Prospect for Leads Ask for Referrals Set an Appointment Qualify the Prospect Close the Sale Address the Prospect's Objections Make Your Presentation It's a rare sale that doesn't include each of these steps in one form or another. In order to succeed in sales you need to master each one of these stages. If you're weak in one or more areas, you might survive as a salesperson but you won't thrive. MARKETING There are several definitions of the term ‗Marketing‘. Some of which are : ▷The American Marketing Association (AMA)has defined the marketing as ―the performance of business activities that directs the flow of goods and services from producer to consumer or user‖. ▷Marketing is the process of performing market research, selling products and/or services to customers and promoting them via advertising to further enhance sales. ▷Marketing is an integrated process through which companies build strong customer relationships and creates value for their customers and for themselves. ▷According to Philip Kotler, Marketing is defined as ―a human activity directed to satisfying process‖. MARKETING . CONTD ▷Marketing generates the strategy that underlies sales techniques, business communication, and business developments. ▷The features in these definitions are that marketing, is an exchange process. covers a variety of functions to be carried out in an integrated manner & is directed to satisfy the needs/desires/wants of the consumer. ▷Marketing originates with the recognition of a need on the part of a consumer and terminates with the satisfaction of that need by the delivery of a usable product at the right time, at the right place and at an acceptable price. ▷Your marketing will consists of the measures you use to reach and persuade your prospects that you are the company for them. It's the message that prepares the prospect for the sales. It consists of advertising, public relations, brand marketing, viral marketing, and direct mail. EVOLUTION OF MARKETING There are different stages in the development of marketing. STAGE OF SELF-SUFFICIENCY STAGE OF PRIMITIVE COMMUNISM BARTERING STAGE MONEY ECONOMY STAGE STAGE OF CAPITALISM MASS PRODUCTION STAGE AFFLUENT SOCIETY STAGE IMPORTANCE OF MARKETING The concept of Marketing simultaneously benefits the following; the organization that practices it, the consumer at whom it is aimed and the society at large. THE MARKETING MIX The term "Marketing Mix" became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included: product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as THE 4 P‘s OF MARKETING ELEMENTS OF THE MARKETING MIX ▷Product : The term "product" refers to tangible, physical products as well as services. Product decisions to be made include: Brand name, Functionality, Styling, Quality, Safety, Packaging, Repairs and Support, Warranty , Accessories and services ▷Price: Pricing decisions to be made include: Pricing strategy (skim, penetration, etc.), Suggested retail price, Volume discounts and wholesale pricing, Cash and early payment discounts, Seasonal pricing, Bundling, Price flexibility, Price discrimination ▷Place (Distribution): Distribution is about getting the products to the customer. Some examples of distribution decisions include: Distribution channels, Market coverage (inclusive, selective, or exclusive distribution), Specific channel members, Inventory management, Warehousing, Distribution centers, Order processing, Transportation, Reverse logistics ELEMENTS OF THE MARKETING MIX CONTD. Promotion: In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include: Promotional strategy (push, pull, etc.), Advertising , Personal selling & sales force, Sales promotions, Public relations & publicity, Marketing communications budget. In order to be a successful marketer, one has to identify consumer needs through marketing research, develop appropriate products, price them reasonably, make proper distribution (place) arrangements and promote them effectively. Then only will the products sell easily in the market. LIMITATIONS OF THE MARKETING MIX FRAMEWORK The marketing mix framework was particularly useful in the early days of the marketing concept when physical products represented a larger portion of the economy. Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's. Despite its limitations and perhaps because of its simplicity, the use of this framework remains strong and is being recognized globally. FUNCTIONS OF MARKETING Product Designing & Development Standardization and Grading SALES VS MARKETING ▷Very often these two terms are synonymously used but they are actually different in their meaning. The activities of marketing are often confused with sales, but it is important to realize that there is a difference. ▷Marketing is not Sales, and Sales is not Marketing. Marketing is about your message, about defining the value of what you offer and how you get the word out to your potential customers. Why should people buy from you and what‘s in it for them? Sales is how you actually engage your customers, generate leads and then make the transaction—how the cash comes in. Marketing Marketing Sales Marketing Research After-sales Services The difference between Selling and Marketing may be as follows : SALES VS MARKETING CONTD. Sales Marketing 1 Focuses on the needs of the seller Focuses on the needs of the purchaser 2 Refers to moving the products from the outlets Refers to obtaining the customers to move the goods 3 Gives supreme importance to the product Gives unique importance to the customer 4 Emphasizes on corporate objectives Emphasizes on customer satisfaction 5 Aims at short-term objectives Aims at long –term objectives 6 Aims at customer-oriented selling efforts Aims at market-oriented selling efforts 7 Aims at selling the goods which are produced through intensive promotion at a profit Forecasts the customer demand to undertake the production activity 8 Gives top priority to sales volume and maximization of profits Gives top priority to profitable volume of sales and market share at fair and reasonable prices 9 Selling activities are organized and directed by marketing department Marketing policies and strategies are directed by the top management Sales vs. Marketing contd. Marketing is everything that you do to reach and persuade prospects. Selling is everything that you do to close the sale and get a signed agreement or contract. Selling aims at profit through sales volume and the marketing aims at profit through servicing customer demand. ▷Marketing creates opportunities and Sales brings about outcomes. Marketing is finding out what we don't have and sales is the task of selling what we do. Marketing is the cost effective delivery of sales. ▷Selling is an important function of marketing and includes all the activities such as sales planning, sales forecast, sales research, advertising, personal selling, sales promotion etc. But, marketing is wide in its meaning and includes selling also. ▷Both are necessities to the success of a business. You cannot do without either process. By strategically combining both efforts you will experience a successful amount of business growth. However, by the same token if the efforts are unbalanced it can detour your growth. Remember the key to success in marketing and in sales is balance! Thanks! Any questions? You can find me at: [email protected]