Chapter 14 introduces the sales presentation – “a salesperson’s effort to make a sale or address a customer’s problem.” This article, “ The Greatest Sales Deck I’ve Ever Seen ” (LinkedIn, September 14, 2016) describes a sales presentation that fits our textbook’s selling formula approach which “starts with a prepared presentation…and leads the customer through some logical steps to a final close.” The “sales deck” is the set of slides the salesperson uses with a prospect. Evaluate the “Greatest Sales Deck” – suggest three keys to its success. Consider what you have learned in chapters 13 and 14. Consider promotion objectives and the sales presentation part of [Continue Reading …]
This article from Harvard Business Review “ Great Salespeople Are Born, but Great Sales Forces Are Made ,” (May 20, 2016) describes the importance of 1) strategy, 2) organization, 3) talent, 4) execution, 5) support, and 6) improvement and adaptation in building a great sales force. Chapter 14’s coverage of strategy decisions discusses similar concepts to those mentioned in this article. Explain how each of the six concepts in the article relate to concepts from chapter 14.
As regular readers of Learn the 4 Ps know, we are big advocates of students (or any job seeker for that matter) writing their own personal marketing plan. Marketing students should be particularly adept at developing a job plan. Click here for all our posts on this topic. It is getting to a point where it is hard for me to find good new tips. This article at Fast Company “ 7 Tips for Job Seekers That Hiring Managers Secretly Want You to Know ” (November 11, 2014) offers some insights I had not seen before. Go ahead and develop your plan — and good luck with that job search.
Personal selling has an important place in the marketing mix. While costly, salespeople can look a customer right in the eye and adapt their message and advice depending on how customers respond to questions. Personal selling is usually a key element in the B2B promotion blend. The high cost of personal selling and customers’ growing comfort with the Internet are changing the nature of personal selling. The number of outside salespeople continues to grow, but much more slowly. On the other hand, the number of people engaging in inside sales (on the phone or interacting online) is growing rapidly. Inside [Continue Reading …]
The financial services industry may have identified a new and underserved target market — women. More than a quarter of all the world’s millionaires are women — and that number is growing. In the U.S., women control$8 trillion in assets with that number expected to grow to $20 trillion by 2020. This Wall Street Journal article “ Clients from Venus, ” (April 30, 2012 – non-subscribers may need to click here ) explains how women investors have different needs than men. How could a financial services firm adapt its marketing mix to better meet the needs of women? Think about the firm’s website, its advertising, and its products. Think [Continue Reading …]
Everyone sells something — whether we are clinching a deal, getting a job, winning an argument, or seeking a spouse. After author Philip Delves Broughton got to Harvard Business School he wondered why sales wasn’t part of the curriculum. The former journalist decided to teach himself — by interviewing master salespeople and writing a book about it. I just listened to an interview with Broughton on NPR (Weekend Edition Saturday, April 28, 2012) about his new book “ The Art of the Sale: Learning From the Masters About the Business of Life .” From a rug seller in Morocco, to an insurance saleswoman in Japan, to a contractor in Baltimore, Broughton learns what makes for great salespeople and shares what he learns. I suggest you [Continue Reading …]
In “ A Dinner with Drug Reps ” (November 1, 2011) Dan Ariely describes a dinner with some former pharmaceutical and medical device salespeople. After plying them with a few drinks, he and a colleague elicited some pretty interesting stories of personal selling to medical doctors. To be successful in the industry do you need to: Go to a dance class with a physician? Bring elaborate meals to doctor’s offices? Sell medical devices in the operating room? Hire doctors to speak about the pharmaceutical firm’s drugs at medical conferences? Switch on and off various accents, personalities, etc.? What do you think? Are each of these [Continue Reading …]
When I graduated as a marketing undergraduate almost 30 years ago, pharmaceutical sales was one of my job targets. I liked the idea of consultative selling of technical products. I ended up in technical sales at Eastman Kodak. Back then pharmaceutical sales was growing — and so was the sales force. Not anymore. Today many pharmaceutical firms are looking for technology solutions to replace their sales force — including iPad apps and other digital tools. Get up to speed on this trend by reading “ Drug Makers Replace Reps with Digital Tools ” (Wall Street Journal, May 10, 2011, non-subscribers click here ). For those of you preparing your personal [Continue Reading …]