Final Pointers

Marketing Concepts

·         Rocket Singh

·         Sales and Marketing concept

 

1.      Is selling more important?

Dyad

·         Interaction with buyer and sellers dyad.

2.      Is DYAD with IT is changing?

Evolution of Selling

3.      Presale is the verdict?

Selling Process

4.      After sales gives the output of sales? But entire process is critical

Sales Forecasting

5.      Academic versus Practice?

·         Method is important

Sales Organization

·         Your mentor in industry

·         Please find a good boss

Sales force Recruitment

6.      Linkedin.com is important?

·         Process of recruitment

Sales Territory

·         Geographical way of Territory is redundant

Sales Quota

7.      AQ & RQ is important?

·         Quota as benchmark

Sales force Compensation

8.      Fixed salary better or salary + incentive?

Sales Training

9.      Bond as well as to minimize attritions key?

Managing Challenges

10.  Conflict management channels? bottlenecks

sales quota

dear participants,

last class we had a discussion on quota and how quota is decided
we had spoken about
1) volume quota
2) budget quota
3)combination quota

and sales territory forecast and potential also plays an important role in deciding the sales quota as well as sales budget also helps in deciding the quota which helps in deciding the compensation plan for the end user .

the mantra of assigned quota and realistic quota is also very important for the sales person .

the holistic approach of sales guy in understanding the quota is critical and helpful



Keep Blogging

Ankush

After sales service is also very important

I started my career in an automobile industry, it was a Joint venture of MAN,german based company and FORCE motors ltd. and it was a new plant in Pithampur(M.P) and was at initial stage. I joined there as a G.E.T and allotted Engine Assembly and Testing department and it was mere 50 engines had been tested when I have joined.

I will share some of my experiences regarding sales of our HCV trucks, the engine was of high power and the trucks our company use to manufacture are of 16,24 and 49 tonner and it was sold in domestic as well as in abroad mainly in south-africa. We had monthly target of 270 engines and pull system was followed. So as it was initial stage there was lot of quality related problems such as low power, high smoke, overheating and many of them and I was the only G.E.T in engine department so I have to deal with the customer complaints from the field and have to discuss the issue with my manager.

As many of our customers use these trucks for mining and construction operations. I like to share one of my experience with a customer who had 10 of such trucks of our company and he had got in one of our vehicles problem of engine overheating. He was a valued cutomer of ours and had also he had our competitior’s trucks such as Tata novus and Mercedes benz. My manager discusses such problems in morning meeting and it was and serious issue and customer was very furious and asked us to immediately change the engine. But I it will incur lot of expense as one engine cost is around 2 lacs. So we have decided to send one good diploma engineer from our team at field to trace the problem and it was not figured out and than we have to brought the engine to our company and after some testing it was finally send again to the customer.

The point I got from it that Pre sale testing of product is must, Customer is king and also that not only sales matters but after sales service matters most in automobile industry. The product must be of good quality and would have competitive edge for generating sales and also maintaining it.

Sales Quota

Why sales Quota is given . General perception

What happen when u establish a goal and belive in it .....? U will start work towards it .
What happens when you achive it ? you feel good about yourself . It will fill you with a satisfying
feeling of confidence and self worth

On the otherhand if u dont have any goal, you may get lazy ,and not care for it , it is practicle situation which is happining in our daily life .Realistic goal can be effictive motivators

A sales quota is a GOAL; it is a target u expect yours sales staff to meet.
It must be a target they expect to meet as well
One of the Survey says that on an average only 65% of the salesperson reach the sales quota
General things to be taken into consideration while formaliting sales quota for your team in future
1 Dont Make the time period longer then a months . shoter the period better to achive .
2 A quota , to be effictive, must be achievable. Other wise dont use them
3 To stimulate all urs sales staff , report every ones progress during the months in percentage for all to see
4 Dont use quota system as a weapon to threaten poor performers . It will not solve the problem,

sales territory

we had a discussion in sales territory on last day to have a understanding of quota which help the sales guy to know their own work place and deciding on the compensation plan.
the pointers are
1) geographical location
2)product
3) assigning resources to them
4) but geographical location is replaced by information technology
some area where GL still matter pharma ,fmcg,print etc.. at the end of the day as per increasing in the technological aspect there will be decrease in tangible territory


c ya
Ankush

Customer attraction

I started my career as a Management Trainee in Taj Palace Hotel, New Delhi where I was privileged to be deputed on the V.I.P floor, thus getting first experience in catering needs of high profile guests. Dealing with V.I.P’s was a challenging job because they had to be dealt with utmost care.Because first impression is the last impression.

After my stint at Taj, I joined Barclay's Bank where I worked in their Business loan asset division. It was a corporate sales.Here I was assigned to lead a team of 6 salesmen whom I had to guide in achieving our targets. Here I made good use of my skills in handling customers that I had gathered from my experience in hospitality industry while working for Taj. Where sales pitch plays a major role.Being persistent in my efforts in convincing the client to buy our product/service helped me immensely in converting a lead into final sale.Where pre sales preparation was very important.I also succeeded in cross selling other products like credit cards, loan against property clubbing them with business loans that I primarily dealt with. All of this helped in advancing my career in Barclay's. See you in class!!!!