CH 3 Flashcards
What is a sales strategy?
A sales strategy consists of a plan that positions a company’s brand or product to gain a competitive advantage. Sales representatives need to know how their products or services can solve customers' problems. A successful sales strategy conveys this so that the sales force spends time targeting the correct customers at the right time.
components of sales strategy. State and explain
Product placement and promotion create brand awareness by using the various marketing
channels available today.
Customer testimonials
readily available for prospects to read or watch lend authority to a small business and the
products and services it offers.
Function of sales strategy
Regardless of whether a business uses a direct or indirect sales strategy, or a combination of the
two, sales managers need to work with sales people on techniques. New customer acquisition
and customer retention require two approaches. A sales strategy lays out the steps and methods
necessary for customers in different stages. Potential customers need communication that
introduces the brand and product or service in ways that show how it can solve his or her
problems. Current customers require more personal communication about new features or
benefits to keep them engaged. Promotions and referral discounts work to motivate current
customers to spend their money and to spread the word to others.
What should be considered before making asales strategy
What is a promotion startegy
What are the different approaches to promotes ones products a company can use?
Name and explain in detail on the basis of target , promotions , measurability and examples
Whats advertising. Its rules, The things you have to do to develop effective advertising
and the commonly used media to advertise
Personal selling
Sales promotion and the typical sales promo activities
consumer promotions
Point of purchase display material
In-store demonstrations, samplings and celebrity appearances
Competitions, coupons, sweepstakes and games
On-pack offers, multi-packs and bonuses
Loyalty reward programme
Business promotions
Seminars and workshops Conference presentations Trade show displays Telemarketing and direct mail campaigns Newsletters Event sponsorship Capability documents
Trade promotions
Reward incentives linked to purchases or sales Reseller staff incentives Competitions Corporate entertainment Bonus stock
Sales force promotions
Commissions
Competitions
What is public relaiotns
It is the deliberate, planned and sustained effort to establish and maintain mutual
understanding between an organisation (or individual) and its (or their) public.
Put more simply, public relations is about building good relations with the stakeholders
(public) of the business by obtaining favourable publicity, building a good corporate image and
handling or heading off unfavourable rumours, stories and events.
By building good relationships with the stakeholders, particularly customers, we can generate
positive word of mouth and referrals from satisfied customers.
Who is a stakeholder
Stakeholders are the various groups in a society which can influence or pressure your business
decision making and have an impact on its marketing performance. These groups include:
Clients/customers Staff
Shareholders Strategic partners
Media Government
Local community Financial institution
What are the main public relation tools
News creation and distribution (media releases)
Special events such as news conferences, grand openings and product launches
Speeches and presentations
Educational programs
Annual reports, brochures, newsletters, magazines and Audio–visual presentations
Community activities and sponsorships
objectives of advertising
Make business and product name familiar to the public
Create goodwill and build a favourable image
Educate and inform the public
Offer specific products or services
Attract customers to find out more about your product or servic
