Sales an Salesmanship

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XAVIER INSTITUTE OF SOCIAL SERVICE

A REPORT ON SALES AND SALESMANSHIP

PRODUCT:

PANASONIC LCD/LED

SUBMITTED BY

ABHIJEET JOHN

MARKETING II

ROLL NO.11

2011-13


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S NO. Particulars

1 Introduction

2 Company Profile

3 Product Description

4 Objectives of the study

5 Forming the Sales Strategy

6 Sales Theories applied

7 Key Learning8 Personal Selling experience

9 Conclusion


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Introduction

The project report is based on the marketing an personal selling of

LCD/LED television sets manufactured by Panasonic in Ranchi. The

project has been aimed at giving an insight to contemporary trend in the

personal selling approach specially LCDS, LEDS and PLASMAS. It

also talks about the problems faced while having this approach and the

reasons as well as the solutions to find a better prospect in the next

customer. The project has a list of observations and recommendations

from the point of the seller. Considering the rapid growth rate in urban

as well as rural market, the intensive growth strategy with product

development strategy has been suggested. The project has its certain

limitations yet will be an effective and significant tool while decision

analysis.

The concept of personal selling is an essential part of academic, for

marketing personnel, because it provides the student with an opportunity

of knowing, learning and perceiving the various aspects of marketing

environment as this is an inherent aspect.


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Company Profile

Panasonic Corporation, formerly known as Matsushita Electric

Industrial Company Limited, is a Japanese multinational consumer

electronics corporation headquartered in Kadoma, Osaka, Japan. Its

main business is in manufacturing electronics. Since the company was

founded in 1918, it has grown to become one of the largest Japanese

electronics producers along with Sony, Toshiba and Canon. It

operated factories in Japan.

Panasonic began producing television sets for the U.S.

market under the Panasonic brand name, and expanded the use of the

brand to Europe in 1979. With the announcement that Pioneer would

exit the production of its Kuro plasma HDTV displays, Panasonic

purchased many of the patents and has incorporated these technologies

into its latest VIERA plasma displays. Panasonic remains the only

HDTV manufacturer to concentrate solely on plasmas for its large (40-

inch or higher) HDTVs, while many rivals have moved onto LCD and

LED technologies.

Panasonic is ranked 9th place out of 15 in Greenpeace Guide to

Greener Electronics (company shares 9th place with its competitorSony) which rates electronics companies on policies and practices to

reduce their impact on the climate, produce greener products, and make

their operations more sustainable.


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Panasonic is ranked 65th on the Fortune 500 list of the

largest global corporations, ranked 4th on the Fortune 500 Index of

Electronics and Electrical Equipment and is on Forbes World Super

50 list.

Over 110 exclusive Brand Shops pan-India and over 700 service

centers to provide one-stop solutions. Panasonic currently has 22 branch

offices in India. In Ranchi close to 45 dealers deal in Panasonic

products. I approached Kamalia Sales that is now known as DIGI

WORLD with this project. The consumers I targeted were basically

school, colleges, coaching centers and religious institutions located in

and around Ranchi.


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Product Description

The current market offerings of Panasonic in the LCD/LED segment

include the range of the VIERA series. From serving the segment of the

market through the C series and the high end consumers with the V

series Panasonic tries to establish and capture a larger market share.

Panasonic is already a leader in the plasma display segment.

All the Panasonic television models from the 2008 VIERA feature UF

(Tough Under Force) glass panel that covers the front glass of the

plasma TV screen providing protection against impacts (up to 4 joules).

Moreover they sport feature over 900 moving line picture resolutions,

dynamic contrast of 1,000,000:1; and an extended panel life of up to

100,000 hours.

The latest VIERA TV range sports four key features including

outstanding picture quality, exceptional ease of operation, enhancedsound effects and environment friendly plasma display panels with an

improved panel life of up to 100,000-hours.

They incorporate IPS Alpha technology with 178 wide viewing angle,

contrast ratio of 10,000:1, energy-saving backlight and VIERA link for

simple networking.

I used these plus points in order to market Panasonic products in the

target market. The schools and colleges were not using any LCD/LEDs


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but in the future they might just have to resort to become a bigger player

in the market and brand their institutions.

The technology that Panasonic provides comes at one of the most costcutting and cheapest rates. The bran being lesser known and the current

strategy is that of market penetration.


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Objectives of the study

To learn the practical aspect of salesmanship. To understand Sales Management and personal selling better. Design an effective sales plan To generate a healthy feedback from customers and earn profit

through sales

To meet the sales target To endorse the brand name of Panasonic even if the sale does not

click.


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Forming the Sales Strategy

Key Features of the productPanasonic sports features over 900 moving line picture resolutions Dynamic contrast of 1,000,000:1 An Extended panel life of up to 100,000 hours.Outstanding picture qualityExceptional ease of operationEnhanced sound effectsEnvironment friendly plasma display panels with an improved

panel life of up to 100,000-hours

IPS Alpha technology with 178 wide viewing angleEnergy-saving backlight and VIERA link for simple networking.


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Competitors and their due advantages

Samsung- Has a better picture quality that comes at a costLG- Widespread networkSony- Brand Image says it all.Philips- Extensive market share in tier 2 cities.OnidaPrice wise a competitionSansui and SharpSimilar Technology at a cheaper cost.

Methodology

Prospecting

Pre approach

Approach

Presenting and demonstrating

Discussing and empowering the potential customer

Closing

Follow up (optional in this case)


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Discussing and empowering the potential customer

After giving the presentation the prospect might resist buying or

might have some objections. These objections are obstacles to

sales.

Thus an effective sales person is the one who can address these

objections effectively and convince the prospect to buy. It is on

his discretion that he might or might not release the product.

Closing Sales

Process of converting Prospects into Customers. It results in sale

or no sale. Most of the consumers said they needed more time as

the investment was as big as the decision.


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Sales Theories applied

Some Important theories which I used in this Project were:

MAD Theory

The MAD theory i.e. Monetary, Authority and Desire for target

worthwhile prospects.

Since my product was a big investment my main focus was on

Desire only those people who actually had desire were

showing interest after showcasing of Products In the showroom.

Customers had the desire to purchase the product only after I

gave them a futuristic view.

Since it was a product with a high value the customers could not

make the purchase decision themselves and were dependent on

their peers.

AIDA Theory

Full form Attention, Interest, Desire and Action.

This is a very effective way of selling. How I used AIDA

Attention: I grabbed the attention of my prospects by the very

look of the product

Interest: Then created interest by showcasing my product and

telling them that how it would be provide convenience to them.


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Desire: As interest is developed desire follows but to strengthen

it I stated giving them the advantages and varied usage.

Action: Without much delay I started closing sales to persons

who had the desire.


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Key Learnings

A few of my key learnings from this project are

Buying decision of buyers depend upon various parametersranging from Physical appearance, Utility, Price, Durability etc.

If the product is good, available at convenience then customerscome automatically

Customers are looking for customization Friends have an influence over the buying decision of customers. If Customer gets an evidence of good performance he forms a

positive impression about the product.

Presentation and demonstration are very important to closing salesas they help in convincing the customer (creating desire)

Do not spending too much time trying to sell who was not likely topurchase.

Varieties were available which attracted my customers the most.


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Personal selling Experience

Name ofthe client

Age Occupation Mode offixing

meeting

Synopsis ofinterview with

client

Observationon

customers

response

Keylearning of

the

interaction

Educational Institutions

Xavier

Institute of

Social

Service

45 Assistant

Director

Approach

ed him

directly

and

availed afuture

date as per

convenien

ce.

Told him

about my

product and

discussed, in

detail, theusage in

future.

Customer

showed a

positive

approach but

said that hewould need

to consult

his

administratio

n before any

decision.

Ensure that

you clearly

explain its

use and

benefits.

Xavier

College

40 Administrat

or

Had to

call him

up and pre

fix an

appointme

nt.

Had to recall

an unhappy

incident to

convince him

and only then

did he finally

agreed to buy.

It can be

difficult

approaching

and

convincing

big players

but one

needs to

strike whenthe rod is

hot.

If you can

connect

with the

buyer

needs, sales

will be a

cakewalk.


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St. Xavier

School ,

Doranda

52 Principal Had to

call him

up and pre

fix anappointme

nt.

Had already

been

approached

by the dealersand hence My

job was

limited to

closing the

deal

Customer

liked the

product and

purchasedbut for

personal

usage and

not

commercial

as targeted.

If the

product is

good,

available atconvenienc

e then

customers

come

automatical

ly

IMS

Coaching

35 Sub unit

head ,

Ranchi

Circle

Approach

ed directly

to fix an

appointme

nt.

The meeting

was for a very

short period

of time and

the buyer had

a negative

approach.

He was

reluctant as

the decision

process is

centralised.

You can

always find

reasons to

convince a

buyer.

St. MarysCathedral

50 Parish

Priest

Approach

ed him

directly

The buyer

was confused

of the usage

and if it will

be

worthwhile.

I had to

show him

the usage

outside and

make the

product looklike a

medium to

reach the

masses in a

better way.

A sales

personnel

needs to

balance

ethics and

ambitions.


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Joy Lakra 40 Senior

Manager

Axis Bank

Directly

approache

d the

buyer

There was no

formal

interview.

Product was

sold

informally.

Customer

liked the

product and

purchased it

If the

product is

good,

available at

convenienc

e then

customers

come

automatical

ly

Helen

Michael

57 Manager

State bank

of India

Directly

approache

d the

buyer

Product was

sold

informally as

much of the

wok had beendone earlier.

Customer

liked the

product and

purchased it

Make the

customers

believe in

your

product.


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Conclusion

During the whole process of selling, I gained a lot of exposure and

knowledge in the field of marketing and I realized that practical

exposure is much more important than theoretical knowledge. The first

time, I interacted with the customers and analyzed that convincing the

customers and fulfilling their needs and wants is not an easy task. I am

happy that I succeeded in doing so. I am glad that I got an opportunity to

sell my product to face the real market.

Sales an Salesmanship

Documents

Transcript of Sales an Salesmanship