let's talk sales
Post on 04-Jan-2016
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Lets talk Sales20/02/2014The exchange of a commodity for money.In general, a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or assets in exchange for money.A sale is the act of selling a product or service in return for money or other compensation
What is Sales?
Why a career in SalesNo One Except The Sales Person can decide HOW MUCH HE OR SHE WOULD EARN IN A YEAR
Essential Component of SaleBuyerProduct / ServicesSeller
Types Of Buyer/ CustomerBrand Customer Specs Customer Time Bound Customer Price Customer Not Sure Customer
Brand CustomerBuying decision is strongly influenced by the Brand.80% decided is already made.Focus Point is Brand.
Specification CustomerBuying decision is made on specsEducated on his needsKnows exactly what he needsFocus Point is SPECS
Time Bound CustomerIs late on his requirementNeeds Product/ Service to close issueFocus Point Is DELIVERY/JOB COMPLETION
Price CustomerHas all the time in the worldWilling to make compromisesNeeds to Buy the CheapestFocus Point PRICE ONLY
Not Sure CustomerIs not sure on Brand, Specs, Price, DeliveryIs still learning from all suppliers Needs a DealCan be influenced by all factors
Product / Services
Product / ServiceRefers to all of the features, advantages and benefits that your customers can enjoy from buying your goods or servicesIs the product / service right for the countryDoes it fit in the country of saleAre other Brands offering similar product
PlaceIs about getting the products to the customer, and includes where a product or service is made, sold or distributedIs the market saturatedIs there place available in the Brand Positioning Chart
PeoplePeople refer to the staff and salespeople who work for your business, including yourselfPeople also refer to the Customers that are buying your product and services
PriceWhen setting a price, the marketer must be aware of the customer perceived value for the product.Is your Product rightly priced and positioned.You should identify how much your customers are prepared to pay
PromotionMethods that are used to effectively communicate your product or servicePromotion comprises elements such as: advertising (meaning communication that is paid for such as radio, TV, Newspaper, cinema), public relations (press releases, events, trade fairs, sponsorship deals), Word-of-mouth (commonly those happy customers or employees eager to spread the word)
The first restaurant opened by McDonalds Company was in San Bernardino, California way back in 1948. At this moment, McDonalds is the worlds finest and leading food service company with more than $40 billion sales from 30, 000 outlets all over the world. However, this company didnt grow quickly because of fortune. McDonalds has reached where they are now due to hard work and effective marketing strategies.McDonalds introduced their newest strategic plan in 2008, which they called Plan to Win. The objective of this plan was not to be the biggest fast-food chain but to be the best fast-food chain in the world. To do this, McDonalds implemented what would be known as the 5 Ps
McDonalds offers such a large variety of products that it allows for almost all people to be satisfied. McDonalds includes specific aspects of its service and products like packaging, looks and desirability. This includes non-tangible and tangible features of the services and product.McDonalds has intentionally kept its product depth and width limited. McDonalds had studied the manners of the Indian clients and totally provided various menus as compare to its menu presented in world market.. India is just country wherein McDonalds offer vegetarian menu. As well as the cheese and sauce use are pure vegetarian.The company constantly improves its product and service in accordance to the fast changing desires and tastes of its consumers. One of the good examples is the launching of Chicken Maharaja Mac and the Chicken McNuggets.
Place has been considered the most important P of the 5 Ps over the years because without numerous locations throughout the world it would be impossible to reach the 52 million customers a day and would make it hard for McDonalds to be the world leader in the fast-food industry. Nearly 50% of the U.S. is less than three minutes away from their nearest McDonalds. This is a perfect example of why McDonalds is the leader in customer satisfaction.
What kinds of people want to drive long distances just to get some quality food at a great price? Not only is McDonalds a great place to take yourself or your kids for a deal, but it also allows for kids to enjoy a playground area at several locations around the world. By offering the attractions of swings, slides and ball-pits McDonalds is helping to promote exercise and nutrition in childrens diets
The place for the most part includes distribution outlet and channel of the business. It is very essential because the service or the product should be accessible to the consumers at the right time, right place and right quantity.
In United States almost 50% of McDonalds outlets are located three minutes away from each other. There are specific level of happiness and fun which McDonalds offers to its consumers. It offers value position that based on the requirement of the consumer.
The main objective of the Price strategy was to make it very affordable for a family to go out for breakfast, lunch or dinner and not break the bank in doing so. McDonalds achieved this by making happy meals for children that were of right portion, right price, along with the everyday value meals and dollar menu items.
McDonalds also runs many different specials for breakfast where they will make different breakfast sandwiches 2 for $3. By doing this it allows for parents to feed two children for the price of one. It also allows for more hungry people to make sure that they will be full after they have eaten two sandwiches
Business should also consider the possible reactions from its rivalry when it comes to pricing. Pricing strategy was developed in order to attract middle and lower class individual and the result can clearly be seen the customer base which McDonalds has at present.
McDonalds restaurant has specific value pricing as well as bundling strategy like combo meal, happy meal, family meal and happy price menu in order to improve total sales of the service and product.
Advertising through television, radio, and billboards are great ways that McDonalds promotes their products and service. Over the years McDonalds has used several slogans to leave an impression in peoples heads. Some of these include Its a good time for the Great Taste of McDonalds, Food, Folks, and Fun, We love to see you smile, and the most recent slogan, Im Lovin it. All of these slogans have been used over the years to promote McDonalds and by doing so people remember the name and have become accustomed to visiting nearby locations.
Another strategy that McDonalds used over the years was to promote their figure head, Ronald McDonald. Ronald is the made up character behind McDonalds corporation for the past 50 years. He was originally introduced in 1963 and resembles a clown character that is considered #2 only to Santa Claus for the most recognized name in childrens eyes. There has also been a television show called, The Wacky Adventures of Ronald McDonald, which have variously been released between 1998 and 2003. This show was great promotion for children and McDonalds because it only happened a very limited amount of times so kids were so excited when they actually got to experience it and it allowed for McDonalds to expand revenues
The endorsement activities implement by the Company aids communicate effectively with the potential consumers. Ad targeted to catch the interest of the people it reaches to massive number of customer at a time. Ad plays an important role for product promotion such TV advertisement, billboard and posters which also used by some ground breaking business including Apple Company
The main objective when talking about the People aspect is to discuss both customers and employees, because if the employees arent happy, they will be more likely to take out their anger on the customer. This would result in bad service and publicity.
McDonalds does a lot of internal as well as External Marketing. They have found that it is extremely important to show employees the proper respect and courtesy that they deserve and by allowing for them to give input about things they think should be improved or worked on is a great way of keeping everyone happy. If customers didnt feel a great sense of appreciation when they walk into a location they are much less likely to come back and be repeat customers. By doing research and taking surveys, McDonalds executives are finding out what people want and making sure that customers and employees are completely satisfied.
McDonalds has a target group of Families with children because it is considered a treat for the children and easy for the parents. It is considered more of an open, public atmosphere when compared to a fancier sit down restaurant. They offers playgrounds and toys for the children at many locations. McDonalds also targets people without a
McDonalds understands the significance of both consumers and employees. It understands the truth that happy workers can serve properly and led in happy customers.McDonalds restaurant constantly does Internal Marketing as this strategy becomes effective it will lead automatically to the success of external marketing.