Sales mgt. by Mandeep Kaur (29.02)

8/2/2019 Sales mgt. by Mandeep Kaur (29.02)

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Sales Management

Mandeep KaurUniv. Roll No. 100492244800

Ludhiana College of Engineering & Technology

Submitted to:

Mr. Prateek KaliaAssociate Professor (Department of Business Administration)


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Sales ManagementSales Management

Sales management can be defined as The planning,

direction and control of the personnel selling function in

an organization, which includes

1. Recruiting

2. Selecting

3. Equipping

4. Assigning

5. Routing

6. Supervising7. Paying

8. Motivating

These tasks apply for personal sales force.

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ObjectivesObjectives

The fundamental objectives of sales mgt. are :

Generating the sales volume.

Contribution towards the profits of the organization.

Ensuring continued growth in business.How sales mgt directly affects the profits of anOrganization can be judged from the following equation:

(Sales) ( Cost of sales) = (Gross margin)

(Gross margin) (Expenses)=(Net profit)

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Selling ProcessSelling Process

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1. Prospecting &

Qualifying

Identifying & screening for

Qualified Potential

Customers.

2. Pre - approachLearning as much as possible

about a prospecting

customer before making a

sales call.

3. ApproachKnowing how to meet the

buyer to get the relationship off

to a good start.


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4. PresentationTelling the product Story

to the buyer , and showing

the product benefits

5. Handling

Objections

Seeking out, clarifying &

overcoming customer

objections to buying.

6. Closing Asking the customer for Order.

7. Follow up

Following up after the sale

to ensure customer

satisfaction and repeat

businessMandeep Kaur


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Creative Selling processCreative Selling process

1. Identify and Qualifying

Prospecting :-

Prospecting :- Identifying

likely new customer.

Qualifying :- Evaluating a

prospects potential.


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Methods of Prospecting

References

Cold Calling

Center of influence method

PersonalObservation method Direct mail or telephone method

Companys record

Newspaper

Retailers


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Learn about the industry. Competitors analysis.Knowledge about the prospect.

2. Pre- Approaching the Prospect


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Sources of Information

Newspapers

Companys Record

Customers

Special InvestigationFellow Salesman

Retailers

Directories

Other Sources


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3. Approaching the Prospect

Contact

Rapport

Only one chance to make first impression


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Methods to Approach

Personal call without introduction

Personal call with introduction

Sending the business card

Writing for an appointment

Appointment over telephone

Use of sales proposal letter

Sending the Company Brochure


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4. Sales presentation

Persuasive communication

Attention

Interest

Desire

Tell the products story Create need.


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Essential features of a Presentation

Arousing Interest

Promptness in presentation

Clarity in presentation

Showing proper quantity & quality Demonstration & dramatization

Appealing to the senses

Suggests Test

Handling the Goods


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5. Handling Objections

-Questions

-Reservations

Understand Concern

Counterarguments

Acknowledge concern

Clues the process


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Objection

It is the expression of disapproval of the action taken by

the salesman .They are the feelings of disapproval &

usually raised by the prospects

Procedure for handling Objection

Listen attentively

Anticipating objection

Admitting valid objection Preventing objection


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Some Common Objection

Price

Offer substitute

Justify the price

Offer discount

Offer installment payment

Price factor can be avoided

Payment objection

Service Objections

Time to buy


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Methods of Handling Objection

Superior feature method

Yes..but method

Reverse English method

Indirect denial method

Comparison method

Another angle method

Testimonial method

Question or why method


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6. Closing the Sale

Closing signals

Trial close

Ask for the sale

Closing

Closing is the process of helping people makes a

beneficial decision. It may be positive or negative aswell


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Reason for Unsuccessful Closing

Wrong Attitude

Inadequate presentation

Wrong interpretation

Interruption

A trial close


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Methods of Closing a Sale

Affirmative close

Erecting barriers

Narrowing the choice

Offering inducements

Assumption close

Pros n Cons method

Summarization of Sales points

Implying that a sale is made


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7. Follow up

Commitments met

-Shipment

-Performance

Reinforce / Strengthen relationshipSatisfied customers rebuy & recommend


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Sales mgt. by Mandeep Kaur (29.02)

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