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A sales strategy sets out in detail how you will get your product or service in front of people who need it.
What is a sales strategy? A sales strategy is to be based on your business and marketing plans. n It looks at how you will deliver objectives set out in your marketing plan.
n
Elements of a sales strategy are: Account targeting strategy Relationship strategy Selling strategy Sales channel strategy
Account
Salesperson
Sales Strategy
Buying Process
Buying Needs
Module 3: Organizational Strategies and the Sales Function
Selling
Strategy
Sales strategy
Territory analysis / Account targeting
strategy
Relationship strategy Sales channel strategy
Direct Marketing Channel Sales (thru intermediary) Multi-level Marketing Personal Selling
Selling Strategy
Marketing strategy defines target market and each customer in the target segment is different with different needs and different profit potential (may classify customers into high, medium, low sales & profit potentials) Account targeting strategy provides the foundation for all other elements of the sales strategy.
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TARGET ACCOUNTS
SALES STRATEGY
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Relationship strategy
As a sales organization moves from transactional to collaborative relationship, the time frame becomes longer, the focus changes from selling to creating value The products offered move from simple and standardized to more complex and customized. The movement from transactional to collaborative relationship requires a greater commitment between buyer and seller, because they will be working together much more closely The selling costs increases while serving accounts with higher level relationship The critical task is to balance the customers needs with the cost to serve the account.
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Long
Customized
Few
Partnership
Solutions Transaction
Low
Commitment
Module 3: Organizational Strategies and the Sales Function
High
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Selling Strategy
Is the planned selling approach for each relationship strategy. Five basic selling strategies (1) Stimulus response,
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Internet Distributors (Franchisees, Agents, Wholesalers & Retailers) Company sales-force Team Selling Telemarketing Trade Shows
Selection of a suitable channel depends on both the buyer and the seller, products / services, and markets
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