Lecture 9

Parveen Sharma

Marketing of
Financial
Products

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Contents
Sales Force Management

Salesmanship
Sales Force
Function of Sales Manager
Sales Representatives Types
Sales Force Designing & Sales Management
Designing the Sales Force
Sales Process: Relationship Approach
Ethical & Unethical Sales

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Salesmanship

The art of successfully persuading prospects or customers to buy

product or service from which they can derive suitable benefits thereby
increasing their satisfaction.
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Salesmanship
Individual with desirable sales trait.

Empathetic
Self
Motivated

Organized

Competitive

Sales
Person

Adaptive

Enthusiastic

Customer
Oriented
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Goal
Oriented

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Sales Force

Sales department is the maximum revenue generating department

for any organization.
Sales department establishes a link between the company and its
customers(its bread & butter).

Sales creates Win Win for both

organization & customers

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Function of Sales Manager

Higher sales at increased profit

Greater satisfaction for customers

Managing other sales members(Team Management)
Ensuring profitability level of distributors & traders
Execution of organization vision
Forecasting, Budgeting and Planning sales operations

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Sales Representatives Types

Deliverer
Order taker
Missionary
Technician
Demand creator
Solution vendor

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McMurry Distinction of Sales Positions

Deliverer: Major task is to deliver the product/service

Order taker: Act predominantly as inside & outside order taker
Missionary: Major task is to build goodwill or to educate actual or
potential customer
Technician: High level of technical/product knowledge
Demand creator: More creative while selling tangible/intangible
products/services
Solution vendor: Expertise in solving customer problems with the
existing product/service basket

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Personal Selling

Prospecting

Pre-approach

Approach

Closing &
Follow up

Need
Identification

Gaining
Commitment

Handling
Objection

Presentation

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Sales Force Designing & Sales Management

Designing
Sales
Force

Sales
Force
Objective

Design the
Sales
Organization

Sales
Force
Strategy

Developing
Sales
Force

Sales
Force
Structure

Directing
Sales
Force

Sales
Force
Size

Sales
Force
Compensation
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Develop a
Sales
Strategy

Sales
Management
Activities

Determine
Effectiveness
&
Performance

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Designing the Sales Force

Steps in Process
Objectives & Strategy
Structure
Sales force size

Compensation

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Objectives

Sales volume and profitability

Prospecting
Communicating
Servicing
Information gathering
Product Allocations
Customer satisfaction

Strategy
Account manager
Acting ways: selling in person,
group, conference, seminar

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Designing the Sales Force

Steps in Process
Types of sales force structures:

Objectives & Strategy

Structure
Sales force size

Territorial: clear definition of

responsibilities
Product: structuring along product
lines
Market: structuring along industry
or customer lines
Complex: diverse product lines to
many customers

Compensation
Key accounts

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Designing the Sales Force

Steps in Process

Workload approach:
Group customers by volume

Objectives & Strategy

Structure
Sales force size

Establish call frequencies

Calculate total yearly sales call

workload
Calculate average number of
calls/year

Compensation

Calculate number of sales

representatives

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Designing the Sales Force

Steps in Process
Objectives and strategy

Structure
Sales force size
Compensation

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Four components of
compensation:

Fixed amount
Variable amount
Expense allowances
Benefits

Compensation plans
Straight salary
Straight commission
Combination

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Developing Sales Force

Recruiting and Selecting

Training: Initial and Continual

Directing the Sales Force

Motivation
Supervision
Leadership

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Sales Process: Relationship Approach

RoE = Return on Equity

Bad RoE & Sales

Force Perception

But

Return on Experience

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Sales Process: Relationship Approach

Salesperson Attributes:
Customer-oriented
Honest
Dependable
Competent
Likeable

Initiating Customer
Relationships:

Prospecting
Precall Planning
Approaching customer

Developing Customer
Relationships:

Sales Presentation
Delivery
Gaining Customer
Commitment

Enhancing
Customer
Relationships

Selling Strategy:

Sales Territory
Each Customer
Each Sales Call

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Ethical & Legal Issues in Personal Selling

Strict codes of ethics for sales people.

Sales managers must take responsibility for the proper behavior of

their salespeople, and they must lead by example.

Salespeople should be honest in their dealings with customers and be

informed of relevant laws governing their business situation.

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Unethical Sales Behaviors

Exaggerating features and benefits

Lies about availability & competition

Sells something people dont need

Giving false answers to questions
Falsifying product testimonials
Passing blame for their own mistakes

Pose as market researcher while calling

Misrepresent warranties & guarantees
Make nonbinding oral promises
Bending company rules

Selling dangerous or hazardous products

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? ueries
Contact me @ +91-9050050288
or
Email to parveen_72@yahoo.in

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Thank
You
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