PPT - Marketing and Sales
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Marketing and Sales PowerPoint Transcript
- Marketing and Sales - by eNotesMBA The Best References for MBA
- Marketing - Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over.
Marketing is all about creating a pull, sales is all about push.
Marketing is all about managing the four P’s –
- The 4 P's - Product, Price, Place, Promotion, and 4 C's - Customer Solution, Customer Cost, Convenience, Communication
- Difference between Marketing and Sales 1.trying to get the company produce what the customer wants
2.Marketing is much wider & dynamic than sales
3.Marketing revolves around needs & interest of buyer
4.Marketing is outside-in perspective
5.Marketing creates PULL
6.Marketing involves a set of activities
7.Marketing is a process 1.trying to get the customer to want what the company produces
2.Sales is a narrow concept
3.Sales revolves around needs & interest of seller
4.Selling is an inside-out perspective
5.Selling is a PUSH
6.Sales is a part of marketing process Sales is the result of marketing
- You cannot do without either process, Business growth is possible by strategically combining both efforts
- Types of Selling 1. The Instant Buddy
Salespeople who use this approach are warm and friendly, asking questions and showing interest in their prospects.
They try to connect on an emotional level with a prospective customer.
- Types of Selling 2. The Guru
They are more logical and less emotional.
They position themselves as problem-solvers, able to answer any question and tackle any issue that the prospect lays before them.
The guru approach requires plenty of work learning the relevant information and keeping up with changes in your industry.
- Types of Selling 3. The Consultant
This approach combines the 'guru' and 'buddy' approaches.
It requires a great deal of time and effort on a salesperson's part.
You must be both knowledgeable and able to make an emotional connection with your prospects. } If you can manage both of these feats, your sales will take off like a rocket.
- Types of Selling 4. The Networker
The dedicated networker maintains a web of friends, co-workers, salespeople from other companies, customers and former customers, and anyone else he meets.
A strong enough network will create an ongoing flow of warm leads that can provide most or even all of the salesperson's needs.
- Types of Selling 5. The Hard Seller
Hard selling involves getting someone to buy a product even though he doesn't want or need it.
No ethical salesperson should use a hard sell approach.
The result is customer who never buy again and, sooner or later, a bad reputation for the company as a whole.
Stick with one or more of the first four approaches – they are all both effective and ethical.
- Buyer Expectations
- Buyer Expectations 1. Customers Expect Solid Information.
Providing your customers with tangible information lets them know that you value them and respect their ability to make sound decisions.
When they feel that they're respected, they're more open and willing to do more business with your company.
2. Customers Expect Options.
Customers don't want to be told that there's only one way or one solution. They'll respond positively when they're given options.
Options are essential because they create dialogue and discussion. Open dialogue can lead to more sales.
- Buyer Expectations 3. Customers Expect Single Source Service.
Customers don't want to be transferred to every unit of your business to have their problems solved. This means taking ownership of your customers requests, problem, etc., and ensuring that their needs are met to their satisfaction.
4. Customers Expect Superior Communication.
If you tell them that you will call them back at a certain time, make sure that you do.
Your responsiveness will create a bond of trust, and a
communication comfort level.
- Buyer Expectations 5. Customers Expect Consulting.
You must take the time to ask pertinent questions .
This will demonstrate your ability and knowledge as well as your intent to spend the necessary time with them to meet their specific needs.
6. Customers Expect A Seamless Relationship.
The best businesses are those that believe in going the extra
mile for their customers. Building a relationship with your customers built on mutual trust and respect takes time and effort, but remember retention is the best method of building profit.
- Meeting these expectations will cement your relationships, increase customer satisfaction, and retain them in business.
- Automobile Repair
- Automobile Insurance
- Customer Loyalty V/s Satisfaction