Please enable JavaScript.

Coggle requires JavaScript to display documents.

B006, Expansion, Keeping customers - Coggle Diagram

- - - - Advertising
      - Public
        relations
      - Personal
        selling
        
        Sales
        Management
        
        Planning
        
        Motivating, Compensating
        
        Designing, territories
        
        Budgeting
        
        Evaluation of performance
        
        Recruitment, selection, training
      - Sales
        promotion
- - - - Not necessarily. customer do not have a need for the product you are selling
      - Hidden:
        
        They need to be uncover and addressed before sales can occur
        
        Prospect are not straightforward in revealing their objection
        
        Direct questions can be asked
      - Product
        
        Objections related to product/ service
        
        Product characteristics are less than ideal for the prospect
        
        Product characteristics are not superior to the product currently in use
        
        Product characteristics are not competitive
      - Source
        
        Objections related to the company/ reputation of company or the sales person themselves
        
        Can reflect loyalty to a present supplier or salesperson
      - Stalling
        
        To avoid and delay the sale of the product.
- - - - Asking Price: Initial price set by the seller
      - Initial Offer: The first number that the buyer will quote to the seller
      - Target Point: The point at which a negotiator would like to conclude negotiations – his/her optimal goal
      - Resistance Point or
        Walkaway Price: The negotiator’s bottom line or the smallest amount he/she will settle for
      - Bargaining Range: The range where actual bargaining takes place, as anything outside these points will be summarily rejected by one of the two negotiators
      - Concessions: The action of conceding or granting something
- - - - Quantitative Forecast
        
        Moving Average
        
        exponential smoothing
        
        Naive Approach
      - Qualitative Forecast
        
        Jury of executive opinion
        
        salesforce composite
        
        Survey of buyer intention
- - - - Prospecting -> Plan Sales Call -> Meet Prospect-> Presentation -> Overcome Objection -> Make Sales
- - - - Salesperson should be a change agent
      - Enhance personal relationships
      - Develop internal champions in customer firms
      - Monitor competitors
      - Avoid complacency!