marketing management ii presentation - unitedworld school of business

7/28/2019 Marketing Management II Presentation - Unitedworld School of Business

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Pricing and Promotions, IMC,Personnel selling, and salesmanagement, theories ofselling, sales force automation


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A price is not merely a

function of costs andmargins...it is an

expression of value.


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Product Features

Channel decisions

Promotion


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Develop marketing strategy.

Make market-mix decisions. Estimate the demand curve.

Calculate cost.

Understand environmental factors. Set pricing objectives.

Determine pricing.


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Personal selling Mass selling

Advertising

Publicity

Sales promotion.


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Personal selling- Is direct communicationbetween seller and buyer.

Mass selling- Is non-personal selling. Advertising- Is a form of mass-selling. Publicity- Is an information that concerns a

person, group, event, or product and that isdisseminated through various media toattract public notice.

Sales promotion- Is one of the seven aspectsof the promotional mix.


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According to American Marketing Association IMC or

Integrated Marketing Communication is A planning

process designed to assure that all brand contacts

received by a customer or prospect for a product,

service, or organization are relevant to that person

and consistent over time.


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Five major shifts in the worlds of advertising, marketing and

media have caused an increased interest in (and need for) IMC.

These include:

Shift From... To

Traditional Advertising Digital/Interactive Media

Mass Media Specialized Media

Low Agency Accountability High Agency Accountability

Traditional Compensation Performance-Based Compensation

Limited Internet Access Widespread Internet Availability


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Personal selling is the most widely used means by

which organizations communicate with theircustomers.

It involves oral conversations, either by telephone or

face-to-face, between salespersons and prospective

customers.


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Person-to-person conversation.

Between prospective buyer and the seller. So, it

involves in developing relationships between thebuyer and seller.

Direct human contacts.

Matching products to needs.

Results in discovering and communicating customerneeds and thus able to understand and solve buyers

problem.


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Initial contact.

Establish rapport - Use of verbal and non verbal

communication.

Make a good impression.

Problem solver for prospective buyers - Tell the product story.

Collect information.

Use of appropriate sales aids (computers, videos, brochures,

etc).

Know when to close after narrowing the alternatives.


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Sales Management is the marketing managementactivity dealing with planning, organizing, directing,

and controlling the personal selling effort. This

includes recruiting, training, supervision, motivation,

evaluation, and compensation of sales personnel.


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Planning Setting sales objectives.

Organizing

1. Organizing sales activities.

2. Recruiting and selection.

Directing1. Training and development.2. Motivation & compensation.

Control Evaluating and controlling.


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Kick-backs, bribes and

gifts. Price discrimination.

Cheating on expense

accounts.

Misrepresentation.


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AIDAS

Right set of circumstances

Buying Formula

Behavioral Equation


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A-Securing attention.

I-Gaining Interest.

D-Kindling desire.

A-Inducing Action.

S-Building Satisfaction.


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Theory can be summarized as Every thingwas right.

This theory is also known as Situation-responsetheory.

A sales person needs to be well skilled to

handle the set of circumstances.


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The name buying formula has beengiven by the late E.K. Strong.

It is a step-by-step explanation of thebuyers needs.

Reduced to its simplest form, the mentalprocesses involved in a purchase are

need solution purchase


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Need(or problem) solution purchase

satisfaction


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need product and/or service and tradename purchasesatisfaction/dissatisfaction


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adequacy pleasantfeelings

need product and/or service and trade

name purchase

satisfaction/dissatisfaction


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Using a stimulus response model andincorporating findings from behavioralresearch, J.A. Howard explains buyingbehavior in terms of the purchasingdecision process, viewed as phases of thelearning process.

Four essential elements of the learningprocess included in the stimulus-responsemodel are:

1. DRIVES:a) INNATE DRIVESb) LEARNED DRIVES


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2. CUES:

a) PRODUCT CUESb) INFORMATIONAL CUES

3. RESPONSE

4. REINFORCEMENT


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Sales Force Automation is an important customerrelationship management function that enhancesthe operations of the sales team. It focus on

cultivating customer relationships and Improvingcustomer satisfaction.


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Sales Process Customized to the companys specific sales policies

and procedures, known as sales process management Include a sequence of sales activities that can guide

reps through each discrete step in the sales process

Sales process tools are not sophisticated


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Offer calendars to assist in planning of keycustomer events

Automates both individual and organizational to-do list

Provides valuable post factor analysis of a salescycle; which allows the team to examine theduration and procedures involved in critical tasks

Sales process and activity management are only

as good as their ability to be tailored to intervalssales methods


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Sales managers oversee tens or hundreds of salesteams and cannot stay abreast of every active salesinitiative

Sales management tools can enable them tomanage this large task

Offering data and reporting options to provideon-demand access to sales activities

Teams can be linked to headquarters specialists Sales managers can track territory assignments

and monitor pipelines and leads for individualterritories

Limits on territories


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Subset of sales force automation that deals with

organizing and managing data across and withina companys client and prospect organization

Software can contain various modules formaintaining local client databases, displayingupdated organization charts, and allowingsalespeople to maintain notes on specific clientsor prospects Can answer specific questions quickly

Enable salespeople to communicate their schedules to theorganization at large

Real value of CM is in its capability to track wherecustomers are and who they are in terms of theirinfluence with sales management functions


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Also known as opportunity management andpipeline management

Aims to provide foolproof sales strategies so no sales task,document, or communication falls through the cracks

Sales people follow a defined approach to turningopportunities into deals

Tools: can provide qualified leads through

marketing campaigns or lead referrals can also track other prospect attributes These capabilities can result in answers to

questions that previously demanded

guesswork


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Tools: Allow a salesperson to input client and prospect

information into an easy-to-use tool CRM products have evolved to leverage this

information by providing product-specific

configuration support to companies who must buildproducts for their customers

Often use graphical sales process (Figure 4-2) Page82

Order stage is reached, the tool can calculate a

product configuration and price quote automatically Can then provide forms that facilitate electronic

communication of the information to other areas ofthe company


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The more information the better

Surplus of information

To effectively use this information salespeople needeasy access to it

Intranets are a solution

KM are systems that can locate and store thisinformation and provide users with a singleapplication.

Geographical boundaries are now non-existent


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907/A Uvarshad,GandhinagarHighway,Ahmedabad 382422.

Ahmedabad Kolkata

Infinity Benchmark,10th Floor, Plot G1,Block EP & GP,Sector V, Salt-Lake,Kolkata 700091.

Mumbai

Goldline BusinessCentre Linkway Estate,Next to Chincholi FireBrigade, Malad (West),Mumbai 400 064.


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THANK YOU

marketing management ii presentation - unitedworld school of business

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