Sales & Customer Relationship Management Discussion Subject: Sales & Customer relationship management Hi, I want you to write a discussion post in which f

Sales & Customer Relationship Management Discussion Subject: Sales & Customer relationship management

Hi, I want you to write a discussion post in which first you have to reflect on the readings of the 5th chapter (Sales Knowledge: Customers, Products, Technologies) of the textbook.

“Reflect on the assigned readings for the week (5th chapter). Identify what you thought was the most important concepts, methods, terms, and/or any other thing that you felt was worthy of your understanding”.

For this I will give the instructions on how to access the online-textbook from Mc-Graw Hill website. & also, I will be attaching a Power point presentation of 5th chapter from my professor.

Read through the textbook and glance through the power point & then write a reflection of what you thought was most important concepts, methods from the chapter.

Next part of the question:

Also, provide a response to the following question:

“A salesperson must have a good understanding of the competition, customers, and everything connected with the company. Why, however, should a salesperson take time to be up-to-date on facts about the economy and the industry?”

First part of the question is about writing a reflection of chapter 5 and second part of the question is to respond to the above-mentioned question in quotations.

Make sure to answer the question in relation to the text-book chapter concepts and methods.

Both the questions combined word count should be minimum of 500 words. It means for this discussion post word count is 500 words.

Ok now, the instructions for accessing the textbook from Mc-Graw Hill website:

Go to: https://www.mheducation.com/

Hit Sign in – on the top right corner of the website.

Then, pop-up list comes up: in this list select—My bookshelf

Then, enter login details: email —> abhirampatlolla45@gmail.com Password: Sales001*

In the next screen, you will see the option to Access the e-book.

When you hit that button, textbook will open in a new tab. For easy navigation in textbook screen on the top left corner you will see the table of contents. In which you can see list of different concepts of the chapter.

So, That’s it! Those are the instructions for writing the assignment.

Good Luck!! Chapter 5
Sales Knowledge: Customers,
Products, Technologies
©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
Learning Objectives
5-1: Explain why it is so important to be
knowledgeable.
5-2: Discuss the major body of knowledge needed for
increased sales success.
5-3: Illustrate how to use this knowledge during the
sales presentation.
5-4: Explain the main technologies used by
salespeople.
5-2
©McGraw-Hill Education
The Core Principles: Knowledge
Be an expert on everything associated with your
product(s)
Remember, customers rely on you to truthfully
provide knowledge
Use wisdom when applying knowledge
Realize that people do not care how much you
know until they know how much you care
5-3
©McGraw-Hill Education
Sources of Sales Knowledge
Sales training
Experience
5-4
©McGraw-Hill Education
Knowledge Builds Relationships
Four reasons why
salesperson knowledge is
important:
• Increase the salesperson’s
self-confidence
• Build the buyer’s confidence
in the salesperson
• Build relationships through
truly caring about the needs
of others
• Meet buyer’s expectations
5-5
©McGraw-Hill Education
©Monty Rakusen/Image Source
As A Salesperson You Are a Knowledge Broker 1
Salespeople must possess a range of knowledge
• Not just focused in selling, but in providing solutions
Categories of Salesperson Knowledge
Customer
Company
Product
Channels of
Distribution
Competition
Industry
Environment Product
Utilization
Pricing Policies
Marketing Your
Product/Resell
5-6
©McGraw-Hill Education
As A Salesperson You Are a Knowledge Broker 2
Key areas of knowledge
include:
•
•
•
•
Know your customer
Know your company
Know your product
Know your channels of
distribution
• Know your pricing policies
• Know your competition, industry
and environment
• Know how to help your
customers (resell your product or
utilize it)
5-7
©McGraw-Hill Education
©gooddluz/Shutterstock
Know Your Customer
Salespeople are expected to understand their
customers’ needs, their business models, and
business goals
Key information that top salespeople understand:
• Their customer’s business and industry
• Their customer’s organization
• Key dynamics and trends that can impact their
customer
5-8
©McGraw-Hill Education
Questions Salespeople May Ask Themselves
To Learn More About Their Customers 1
What
Who
When and How
What are the key needs
of your buyer?
Who has a role in the
purchasing process?
What is their respective
role on the process?
What are your
customer’s personal
objectives or goals?
Who is the buyer (i.e.
purchases the product)
versus who is the user of
the product? Are they
the same individual(s)?
What influence do they
have on the decision?
How might the buyer
prioritize their needs?
Which need(s) is
absolutely essential to
meet? Which need(s)
might not be required to
be met exactly?
When does your
customer make decisions
(i.e. seasonal, specific
buying times, during
certain life transitions,
anytime, etc.)?
5-9
©McGraw-Hill Education
Questions Salespeople May Ask Themselves
To Learn More About Their Customers 2
What
Who
When and How
What are your
customer’s roles and
responsibilities?
Who makes the final
decision for the
purchase?
How does each impact
their buying decision?
What is the buying
process? What are the
stages in the buying
process? Who plays a
role in each stage?
How often does your
customer expect you to
contact them or provide
them with progress
updates?
Who currently serves
their needs (i.e.
competitors)?
When might key
dynamics in your
customer’s industry
impact your customer’s
firm? Which of these
trends offer
opportunities and
challenges?
5-10
©McGraw-Hill Education
Questions Salespeople May Ask Themselves
To Learn More About Their Customers 3
What
Who
When and How
What is your customer’s
perception of your firm
and its products or
services?
Who might be able to
provide you with a referral
or recommendation that
the customer would
perceive as credible?
Who does the customer
seek for guidance
(formally or informally)?
How would the customer
pay for your solution (i.e.
financing terms, cash,
terms, etc.)?
If a purchase is made,
who will be your key daily
contact(s)?
When are the key
deadlines for meeting
with your customer or
providing them with
proposals?
What policies and
procedures do
salespeople have to
follow in order to sell to
the customer?
What specific
information is required in
order for the buyer to
make a decision?
How long does the
buying process last
(hours, days, months,
years)?
5-11
©McGraw-Hill Education
Know Your Company
General Company Information
Top salespeople know:
• History of your company and its product lines
• Company growth and accomplishment
• Policies and procedures
• Production facilities
• Distribution systems, pricing practices, promotional
activities
• Service facilities
5-12
©McGraw-Hill Education
Know Your Product
Be expert on your company’s
products and services
Product and/or service knowledge:
aligns customer needs with a viable
solution
Product knowledge may include:
•
Performance data
•
Physical size and characteristics
•
How the product operates
•
Specific features, advantages, and
benefits of the product
•
How well the product is selling in the
marketplace
5-13
©McGraw-Hill Education
©Uber Images/Shutterstock
Know Your Channels of Distribution
Understand how your product and service reaches its
final end-user
Know as much about each channel member as possible
• Likes and dislikes of each channel member’s customers
• Product lines and the assortment each one carries
• When each member sees salespeople
• Distribution, promotion, and pricing policies
• What quantity of which product each channel member has
purchased in the past
5-14
©McGraw-Hill Education
Know Your Product’s Pricing & Discount Policies
Price
• Value or worth of a product that attracts the buyer to exchange money or
something of value for the product
Your firm may offer various types of discounts from normal prices
as enticements to purchase
Top salespeople understand their firm’s:
• Pricing structure
• Discount structure
• Credit policies
Goal: Provide business proposition that creates value for customer
5-15
©McGraw-Hill Education
Know Your Competition, Industry, and Economy
Understand competitors’ products, policies, and
practices
Top salespeople:
• Understand competitors’ products, policies, and
practices as well as their own
• Able to answer and differentiate between their own
product and the competition
5-16
©McGraw-Hill Education
Know How to Help Your Customer Resell
or Use Your Product
For some industries (consumer packaged goods)
salespeople assist their customers to resell their
product to the end-user
• Grocery stores, drug stores, mass merchandisers
May assist in creating an advertising, awareness,
marketing, promotional, or merchandising plan
• Allows salesperson to answer buyer’s question:
• “How will your firm create awareness of your product and
incent grocery consumers to visit my store and purchase
your product?”
5-17
©McGraw-Hill Education
Examples of Knowledge:
Assisting Your Customer To Resell Your Product
Advertising
Sales Promotion
Shelf Positioning
Premiums
5-18
©McGraw-Hill Education
Advertising Aids Salespeople
Main ingredients of a firm’s promotional effort
Types of Advertising Differ
• National advertising
• Retail advertising
• Cooperative, or co-op, advertising
• Trade advertising
• Industrial advertising
• Direct-mail advertising
• Internet advertising
5-19
©McGraw-Hill Education
Example of Promotional Plan To Assist Customer
Resell Product 1
1. Massive Sampling and Couponing:
• There will be blanketing of the top 300 markets with 4.4-oz samples plus
80¢-off coupons. Your market is included.
• There will be a 75 percent coverage of homes in the top 100 markets. Your
market is included.
2. Heavy Advertising:
• Nighttime network TV.
• Daytime network TV.
• Saturation spot TV.
3. Newspapers.
• The total network and spot advertising will reach 85 percent of all homes in
the United States five times each week based on a four-week average. This
means that in four weeks, Fresh Mouth will have attained 150 million home
impressions—130 million of these impressions will be women.
• There will be half-page, two-color inserts in local newspapers in 50 markets,
including yours. This is more than 20 million in circulation. Scheduled to tie
in with saturation sampling is a couponing program.
• $80 million will be spent on promotion to ensure consumer acceptance.
5-20
©McGraw-Hill Education
Example of Promotional Plan To Assist Customer
Resell Product 2
3. TV Advertising Theme (the salesperson would show pictures or drawings of
the advertisement):
• The commercial with POWER to sell!
• “POWER to kill mouth odor—POWER to kill germs—POWER to give FRESH
MOUTH.”
• The commercial shows a young man, about 20 years of age, walking up to a
young woman saying, “Hi, Susan!” They kiss and she says, “My, you have a
fresh mouth, Bill!” He looks at the camera with a smile and says, “It works!”
The announcer closes the commercial by saying, “FRESH MOUTH—it has the
POWER!”
4. Display Materials:
• Shelf display tag.
• Small floor stand for end-of-aisle display—holds 24 12-oz bottles.
5-21
©McGraw-Hill Education
Why Spend Money on Advertising?
Companies advertise because they hope to:
• Increase overall sales and sales of a specific product
• Give salespeople additional selling information for sales
presentations
• Develop leads for salespeople through mail-ins and ad response
• Increase cooperation from channel members through co-op
advertising and promotional campaigns
• Educate the customer about the company’s product
• Inform prospects that a product is on the market and where to
buy it
• Reduce cognitive dissonance over the purchase
• Create sales or pre-sell customers between sales calls
5-22
©McGraw-Hill Education
Sales Promotion Generates Sales 1
Sales promotion: Short-term incentives intended
to create sales
Sales promotion: Provide salesperson with
credibility to retailer or wholesaler
• How: Demonstrates selling firm will assist in creating
consumer demand.
5-23
©McGraw-Hill Education
Sales Promotion Generates Sales 2
Sales promotion (two forms):
• Consumer sales promotion (targeted to end user):
Incents immediate purchase
• Free samples, coupons, contests, and demonstrations to
consumers
• Trade sales promotion (targeted to channel member):
Encourages resellers to purchase and aggressively sell
a manufacturer’s products by offering incentives
• Sales contests, displays, special purchase prices, and free
merchandise (for example, buy 10 cases of a product and get
1 case free)
5-24
©McGraw-Hill Education
Sales Promotion Generates Sales 3
Popular promotional forms:
• Point-of-purchase (POP) displays: Include photographs,
banners, drawings, coupons, a giant-size product carton, aisle
dumps, counter displays, or floor stands
• Shelf positioning: Physical placement of the product within the
retailer’s store
• Shelf facings: number of individual products placed beside each other on
the shelf.
• Premiums: Article of merchandise offered as an incentive to
take action; stirs interest; promote consumer sampling of a new
product, to introduce a new product, to encourage point-ofpurchase displays, and to boost sales of slow products.
5-25
©McGraw-Hill Education
Technology Aids The Salesperson
Technology provides a tool to increasing effectiveness, efficiency
and productivity of salesperson
• Provides more effective management of sales leads and better
follow-through on customer contacts
• Improves customer relations and more effective follow-ups
• Improves organization of selling time
• Provides more efficient account control and better time and
territory management
• Increases number and quality of sales calls
• Offers faster speed and improved accuracy in finishing and
sending reports; developing proposal
5-26
©McGraw-Hill Education
Technology Aids Personal Productivity 1
Software application aids salesperson
with customer relationship
management, information storage,
time management, presentation
development
Customer relationship management
(CRM): Helps companies manage
information about existing and
potential customers
Calendar Management: Assists with
time management, schedules
appointments, telephone calls, or todo lists on an electronic calendar
5-27
©McGraw-Hill Education
©suedhang/Image Source/Getty Images
Technology Aids Personal Productivity 2
Software application aids salesperson with customer
relationship management, information storage, time
management, presentation development
Sales force automation system: Provides reminders
and abilities to remind you about prospects, send
correspondence, schedule follow-ups
Computer-based presentations: Tools such as allows
creation of customized discussion of product
5-28
©McGraw-Hill Education
Software Applications & Selling
The top 10 applications include:
• Customer/prospect profile
• Lead tracking
• Call reports
• Sales forecasts
• Sales data analysis
• Sales presentation
• Time/territory management
• Order entry
• Travel and expense reports
• Checking inventory/shipping status
5-29
©McGraw-Hill Education
©Dougal Waters/Getty Images
Knowledge of Technology Enhances Sales and
Customer Service, cont…
Communications with Customers and Employer
• Word processing
• E-mail
Customer Order Processing and Service Support
• Salespeople’s mobile offices
5-30
©McGraw-Hill Education
Technology Etiquette
Netiquette – etiquette on the internet
• Use clear, descriptive and current subject headings
• Be clear & concise in your message
• Use dates, salutations, proper punctuation/spelling, and a
friendly closing
•
Read & edit a message in an e-mail “chain” before
forwarding or replying to all
• Ensure you include a signature (sig) file—your contact
information at the end
• Respond as quickly to an e-mail as you would a telephone
message
5-31
©McGraw-Hill Education
The Cloud & Sales 1
Online, cloud-based applications and technology
access
Examples:
• Google docs, Dropbox, or Office 365? These are all
In past:
• Firms needed to have software downloaded on their
computers, or firms managed their own servers.
Today:
• Firms contract with companies to leverage offsite technology
5-32
©McGraw-Hill Education
Key Technology Reminders 1
Cellphone:
• The person you are
with is the most
important person to
talk to
• Turn off your phone
during meetings, sales
calls, and presentations
• Don’t engage in cell
yell
5-33
©McGraw-Hill Education
©Dougal Waters/Getty Images
Key Technology Reminders 2
Voicemail:
• Leave a contact name and
the phone number of
someone who can help in
case a customer needs
immediate assistance
• Be courteous when leaving a
voice message
• Say your name and phone
number slowly at the
beginning and ending of the
message
5-34
©McGraw-Hill Education
©Uber Images/Shutterstock
Key Technology Reminders 3
Speakerphones and Conference Calls:
• People participating in a conference call should
identify themselves
• One person should act as meeting leader to people
talking over one another
5-35
©McGraw-Hill Education
The Cloud & Sales 2
Online, cloud-based applications and technology
access
Sales application:
• Enabled a more mobile, portable opportunity for
salespeople.
• Access to software anywhere
• Example:
• Access CRM technology, order processing, and
other important purchasing and background data
from tablet, smartphone, or other computing
device
5-36
©McGraw-Hill Education
How Can a Salesperson Use E-Sales, Digital Media
and Social Networking to increase Sales and
Customer Service?
E-Sales is a strategic process of such as discovering the
desires of customers, distributing, promoting, using
digital media and digital marketing
Digital Sales uses all digital media to develop
communication and exchanges with customers and
prospects
Social Networking to connect for getting acquainted,
keeping in touch, to build a work-related network
5-37
©McGraw-Hill Education
Can You Answer? 1
1. What are four important reasons for the
salesperson to have selling knowledge?
2. What is a major component of sales
knowledge?
3. What type of information should salespeople
possess to act as knowledge brokers?
5-38
©McGraw-Hill Education
Can You Answer? 2
4. What are five key technical details that are
included in product knowledge?
5. What does price refer to?
6. What does CRM stand for? How does CRM
technology help salespeople?
7. What are some do’s and don’ts when it comes
to e-mail communication?
5-39
©McGraw-Hill Education

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