Wk4 Motivation and Training

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Retail ManagementRetail Management

Week 4: Motivation, Personal

Selling, Leadership, Training

and Compensation


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Benefits of motivationBenefits of motivation

Work harder

Work smarter

Increased creativity

Higher self-esteem

More relaxedIncreased use of win-win negotiations

Enhanced relationships


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Motivational theories-Motivational theories-

MaslowsMaslows HHierarchy ofierarchy ofNNeedseeds


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Hertzbergs dual factor theory distinguished factors which

can cause dissatisfaction but cannot motivate (hygiene

factors) and factors which can cause positive motivation.

Hygiene factors includes the following:

physical working conditions;

security;

salary and interpersonal relationships.

Hertzberg


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Hertzberg


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1. Expectancy. This refers to a persons perceived

relationship between effort and performance, i.e. to theextent to which a person believes that increased effort

will lead to higher performance.

2.Instrumentality. This reflects the persons perception ofthe relationship between performance and reward; for

example, it reflects the extent to which a person believes

that higher performance will lead to promotion.

3. Valence. This represents the value placed upon aparticular reward by a person. For some individuals,

promotion may be highly valued; for others, it may have

little value.

Vrooms expectancy theory


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Vrooms expectancy theory


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Feelings of inequity (unfairness) can arise when anindividuals effort or performance on the job exceeds

the rewards they receive. For a salesperson inequity

can be felt in the following areas:

Monetary rewards

Workload

Promotion

Degree of recognition Supervisory behaviour

Targets

Tasks.

Adamss inequity theory


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Motivating factors for salespeopleMotivating factors for salespeople


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Motivation in practiceMotivation in practice

Performance is a function of ability and motivation.

Ability depends on education, experience and

training.Motivation can be improved quickly;

Financial incentives

Setting sales targets or quotasMeetings between managers and salespeople

Promotion

Sales contests


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Retail mRetail motivation in practiceotivation in practice

Low-Cost Perks

Discounts on Merchandise

Company Parties

Event Tickets to events

Free Food

Time Off for Charity

Break-room Entertainment

Random Acts of Kindness

http://retail.about.com


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Prospecting

Database and knowledge management Self management

Handling complaints Providing service

Relationship management.

Secondary Functions


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Sales Process PersonalSales Process Personal

SellingSelling

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The Opening

Need and problem identification

Presentation and demonstration

Dealing with Objections

Negotiations

Closing the Sale

Follow Up


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The OpeningThe Opening

What factors are likely to beimportant?

Punctuality

Attire

Body Language

Opening Remarks17


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Need and ProblemNeed and Problem

IdentificationIdentificationUnderstand the customers requirements

Needs AnalysisQuestion Types

Avoid Product Presentation!

Summarise

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TYPES OF QUESTIONSTYPES OF QUESTIONS

Open questions

Closed questions

Specific questions

Probing questions

Hypothetical questionsReflective questions

Leading questions.19


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Question FunnellingQuestion Funnelling

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Dealing with ObjectionsDealing with Objections

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Dealing with

Objections

Listen and do

not interrupt

The straightdenial

Forestall the

objections

Hidden

Objections

Question the

objection

Agree andcounter


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NegotiationNegotiation

Start high but be realistic

Concession for concession

Behavioural skills

Beware of buyers techniques

Shotgun

The future looks bright

Noahs Ark

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The level of buyers purchase intentions

throughout a sales presentation

Close the Sale


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Close the SaleClose the Sale

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Dealing with

Objections

Ask for the

orderThe

concessionclose

The

objection

close

Action

agreement

The

alternative

close

Summarise

and ask


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Follow-upFollow-up

Delivery

InstallationTraining

Reassurances

Referrals?

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Leaders have a strong, defined sense of purpose.

Leaders are affective communicators.

Leaders are persistent and hard working.

Leaders are self-aware.

Leaders are learners.

Leaders love their work.

Leaders inspire others.

Leaders establish human relationships.

Leaders are risk takers. Leaders are keen to help others attain their goals.

Leaders have the ability to motivate and inspire salespeople

to grow and learn.Futrell, C.F.(2000) Sales Management, Dryden Press, Orlando, FL.

Leadership


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Definition of a LeaderDefinition of a Leader

A person who has commanding authority or influence.http://www.merriam-webster.com

A person who influences a group of people towards theachievement of a goal.

http://www.vtaide.com/gleanings/leader.htm

A person who has control or direction of an institution, business,

etc., or of a part or division of it.

Definition of a ManagerDefinition of a Manager

http://dictionary.reference.com/browse/manager

The act of getting people together to accomplish desired goals and

objectives using available resources efficiently and effectively.

Management comprises planning, organizing, staffing, leading or

directing, and controlling an organization.

http://wikipedia.org


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Retail Management and LeadershipRetail Management and Leadership

1. Understand that there is no such thing as a natural-born

leader- trainings required.2. Explain to your retail managers that being a leader is

different from being a manager.

3. Teach your leaders how to communicate messages to

their employees, customers and contacts.

4. Communicate with your retail managers how they can

possess other leadership skills such as enthusiasm,

confidence, courage, pride, adaptability and sincerity.5. Motivate your employees to be better leaders by

rewarding them for their success.

6. Continue to develop leaders.http://www.ehow.com/how_2156404_teach-leadership-retail-managers.html


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Components of a training programme


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CompensationCompensation

Types of compensation Plan

Creatures of Habit

Satisfiers

Trade-off-ers

Goal-orientated

Money-orientated


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Wk4 Motivation and Training

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