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Personal Selling of Industrial Products Anand G Khanna.

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1 Personal Selling of Industrial Products Anand G Khanna

2 SALES & MARKETING Purpose of organization is only one i.e to create / identify and satisfy the customers. We exist only for customers. The rest is process. Two functions generate revenue – Sales and Innovation. All other are costs. Business purpose is to meet the requirements of customer and delivery of satisfaction. The delight to the customer should be the ultimate endeavor of the organization.

3 SALES & MARKETING Goals are attained by being result oriented and not merely activity oriented. Non directed activity keeps busy but do not give results. Effectiveness is doing the right things and Efficiency is doing things rightly. The former is essential as a Marketing activity and latter is selling activity. Marketing is preoccupying with the future and Sales and Selling is with current scenario.

4 SALES & MARKETING The dimension of Marketing tasks are : New product, Market Analysis, Competitor Analysis, Technical Up gradation, Brand Management, New Opportunities, Promotion Concept, Sales Support, Training and Development, CRM, Interacting with CFTS (Cross functional team support) and Customer Financing. The dimension of Selling tasks are : Marketing Intelligence, Customer Contact, Pre tendering and selling activity, Selling and Negotiations, Sales Management, Order Management, Offer Follow Up, Relationship Management, Order execution and Payment realization, After sales service and Complaint management.

5 SALES & MARKETING The broad task of Sales Person are : Prospecting - searching for prospects or leads, Targeting - deciding how to allocate their time among prospects and customers, Communicating benefits to derive edge for the product and services, Selling - approaching, presenting, answering and closing the sales, Servicing - providing various services to the customers – consulting in problems, rendering technical assistance, Information gathering – conducting market research and doing intelligence work., Allocating, deciding which customer would get what during shortages.. The traits of a successful Sales Person are : Risk taking, powerful sense of mission, problem solving bent, care for customer, careful planning, habitual wooer, compulsive need to win, high level of energy, abundance of self confidence, chronic hunger for money, state of mind that regard each objection, resistance or obstacle as a challenge.

6 SALES & MARKETING Your Journey begins Business Cards How does a person, business, or organization adequately describe themselves in a 3.5 x 2 inch space? One of the first things you must have done on joining is get a card printed Brochure Describing a Place or Organization (Informs, Educates, Persuades)

7 PERCEPTIONS ABOUT SELLING “Sales people are born and not made.” “Sales people must be good talkers.” “Selling is a matter of knowing the right techniques or tricks.” “A good salesperson can sell ice to an Eskimo.” “People generally do not want to buy.”

8 TRAITS OF “WINNING SALES PEOPLE” Desire to succeed Continually seek self-improvement Accept responsibility Have mental toughness

9 SELLING PROCESS PRE-TRANSACTIONAL PHASE (Prospecting, Qualifying, Precall Planning) TRANSACTIONAL PHASE (Approach, Needs Discovery, Presentation, Handling Objections, Closing) POST-TRANSACTIONAL PHASE (Service and Follow-up)

10 The Sales Process Prospecting/ Qualifying Preapproach / Planning Presentation Handling Objections Closing the Sale Approach Follow up Identifying Needs

11 Lead GenerationTriggered by a sales call, by a customer’s response to direct mail, or by a request for information through a Web site, an initial contact with a prospect is made. Lead QualificationPotential customer is screened: the prospect’s need for the product or service, buying interest, funding, and timeframe for making the purchase. Bid and ProposalPreparation of bid and proposal to meet customer’s requirements (a complex task for large technical projects) Negotiations and Sales Closure The negotiation of prices, terms, and conditions, followed by agreement on a binding contract. FulfillmentFor standardized product or service, delivery of offering to customer. Configuration, customization, and installation for more complex sales. Customer Care and SupportPost-sale problem resolution, customer guidance, and ongoing contact to ensure customer retention, loyalty, and growth. SOURCE: Adapted from Lawrence G. Friedman, Go To Market Strategy: Advanced Techniques and Tools for Selling More Products, To More Customer, More Profitably (Boston: Butterworth-Heinemann, 2002), pp Typical Sales Cycle: Tasks Performed Throughout the Sales Process

12 SELLING PROCESS Prospecting – External Sources Direct Inquiries Referrals Directories Cold Canvassing – Internal Sources Order lists List of organizations / persons who approached thr company for as a Channel partner List of persons who attended meetings (Influencers )

13 SELLING PROCESS Qualifying – Qualified Customers have a need, have the authority to buy, and can afford to buy

14 SELLING PROCESS Precall Planning – What do I want to accomplish? – What do I know about the prospect? – Where can I find information? – What am I going to say?

15 SELLING PROCESS Precall Planning--”What do I want to accomplish?” – determine information on historical inventory levels. – determine who is involved in the purchasing decision. – arrange for a follow-up meeting – agreement to a order / or trial-run purchase

16 SELLING PROCESS Precall Planning--”What do I know about the prospect?” – Size of business/products sold/markets served – Key personnel – Buying routines/purchasing process – Present supplier(s)/volumes purchased – Future plans

17 SELLING PROCESS Precall Planning--”Where can I find information?” – Ask prospect directly – Observe business facilities – Ask other company salespeople – Ask current customers – Ask competitors

18 SELLING PROCESS Precall Planning--”What am I going to say?” – The Sales Mix Model Presentation Pace Presentation Scope Two-way Communication

19 SELLING PROCESS The Approach – Securing Appointments – Establishing Rapport

20 SELLING PROCESS “Why is the approach important?” – It can help capture the buyer’s attention – It can help to establish a harmonious atmosphere – It serves as a good transition to the presentation – It can help in need determination

21 PERSONAL SELLING PROCESS The Approach – Types of Approaches Introductory Approach Product Approach Consumer Benefit Approach

22 PERSONAL SELLING PROCESS The Presentation – Focus on Benefits, not just Features – Keep it Simple – Talk the Prospect’s Language – Stress on the Application – Get the Prospect Emotionally Involved – Seek Credibility

23 23 Handling customer objections Start with your highest expectations Avoid conceding first BE sure the customer understands the VALUE of a concession Make concessions in small amounts Admit mistakes and make corrections willingly BE prepared to withdraw a concession Avoid ‘split the difference’ strategy Do not advertise willingness to concede Suggested by SMITH

24 Selling skills 24 Selling Skills Listening Skills (Questioning Skills) Conflict management and resolution skills Negotiation and bargaining skills Problem solving skills Effective communication skills

25 25 Communication process Managing body language: Personal Appearance Posture Gestures Facial Expressions Eye Contact Space Distancing

26 26 Process of listening Attendance Interpretation Evaluations Remembrance Response Action

27 27 Levels of listening Feedback Paraphrasing Emphatic listening Clarifications Active Listening Barriers to Listening !

28 28 Negotiation skills Situation and timing for negotiations Formulation for a bargaining strategy The theory and strategy of principle negotiations -separate the people from the problem -focus on interests, not on positions -invent options for mutual gains -insist on objective criteria

29 29 Problem solving skills Habit I: be proactive Habit 2: begin with an end in mind Habit 3: put first things first Habit 4: think win–win Habit 5: seek first to understand, then to be understood Habit 6: synergize Habit 7: renewal

30 30 Define the problem Generate alternative solutions Decide the solution Implement the solution Evaluate the solution Problem solving process

31 Six Cylinders of Selling External Factors of a Company Economy Industry Product Market Internal Determinants for a Company Selling Skills Attitude

32 Contact Prof. Anand G Khanna Marketing Management Area Chairman (MDP & Consulting) Institute of Management Technology Raj Nagar, Ghaziabad ( UP ) Tel : Mob :


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