"Their focus has been to remove the flies from the soup after the customer complains; not to cook the soup without flies in the first place ... when it would be less expensive and time-consuming for the sales person to do it right the first time." James Cortada was one of IBM's management consultants on market driven quality. His book TQM for Sales and Marketing Management was the first attempt to explain the theory of TQM in a sales and marketing context. George Antoin Smith, Jr. in Naperville, IL, an Electrical Engineering graduate of Purdue University, had been a successful Field Sales Engineer and District Sales Manager of Hewlett Packard electronic components to OEMs.
sales processsales funnelpipeline
consumersconsumer marketend consumer
Recently in marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalised marketing, permission marketing, and mass customisation. Largely due to the rise of the Internet, consumers are shifting more and more towards becoming prosumer, consumers who are also producers (often of information and media on the social web), influence the products created (e.g. by customisation, crowdfunding or publishing their preferences), actively participate in the production process, or use interactive products.
Integrated marketing communications. Institute of Sales Promotion. Marketing. Marketing communications. Pricing. Promotion (marketing). Promotional mix. Promotional merchandise. Native advertising. Sales Promotion (magazine). Tobacco advertising.
Sales promotions are another way to advertise. Sales promotions are double purposed because they are used to gather information about what type of customers one draws in and where they are, and to jump start sales. Sales promotions include things like contests and games, sweepstakes, product giveaways, samples coupons, loyalty programs, and discounts. The ultimate goal of sales promotions is to stimulate potential customers to action. While advertising can be seen as necessary for economic growth, it is not without social costs.
PRpublic relationpublic affairs
Public relations people are growing increasingly concerned with their company's marketing practices, questioning whether they agree with the company's social responsibility. They seek more influence over marketing and more of a counseling and policy-making role. On the other hand, marketing people are increasingly interested in incorporating publicity as a tool within the realm marketing. According to Scott Cutlip, the social justification for public relations is the right for an organization to have a fair hearing of their point of view in the public forum, but to obtain such a hearing for their ideas requires a skilled advocate.
In marketing, promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion. Promotion is also one of the elements in the promotional mix or promotional plan. These are personal selling, advertising, sales promotion, direct marketing publicity and may also include event marketing, exhibitions and trade shows.
market pricepricesretail price
In economics, market price is the economic price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics. Market value and market price are equal only under conditions of market efficiency, equilibrium, and rational expectations. On restaurant menus, "market price" (often abbreviated to m.p. or mp) is written instead of a specific price, meaning "price of dish depends on market price of ingredients, and price is available upon request", and is particularly used for seafood, notably lobsters and oysters. Basic price is the price a seller gets after removing any taxes paid by a buyer and adding any subsidy the seller gets for selling.
So what are the meaningful differences between B2B and B2C marketing? A B2C sale is to a "Consumer" i.e. to a single person who pays for the transaction. A B2B sale is to a "Business" i.e. organization or firm. Given the complexity of organizational structure, B2B sales typically involve multiple decision makers. While the structure of a B2B sale involving an organization is understood, the psychology of a B2B sale, particularly from a marketing perspective, is not always devoid of human emotion. According to Bill Blaney (2012), a B2C and a B2B sale can be differentiated by the customer as either a "want" or a "need."
Principles of MarketingKotler P.Kotler, P.
Kotler started teaching marketing in 1962 at the Kellogg School of Management, Northwestern University. He believed marketing was an essential part of economics and saw demand as influenced not only by price but also by advertising, sales promotions, sales forces, direct mail, and various middlemen (agents, retailers, wholesalers, etc.) operating as sales and distribution channels. Philip Kotler holds that: "the organization's marketing task is to determine the needs, wants and interests of target markets and to achieve the desired results more effectively and efficiently than competitors, in a way that preserves or enhances the consumer's or society's well-being."
Target Communities Instead (Marketing). Forget Demographics. Target Communities Instead (Marketing).
press agentpress attachémedia attention
Viral marketing. Photo op. Publicity stunt.
cold callcold callscold-calling
While the TPS prevents unsolicited sales and marketing calls, it does not prevent "recorded/automated messages, silent calls, market research, overseas companies, debt collection, scam calls" according to the TPS website. In 2012, Richard Herman from Middlesex sent an invoice to a company for the time they had kept cold-calling him. He eventually took the company to the small claims court, leading to the company settling out of court. He had been phoned several times by the company despite being listed with the Telephone Preference Service. Australia has its own version of the "Do Not Call List" known as the Do Not Call Register.
door-to-door salesmandoor to doortravelling salesman
Door-to-door is a canvassing technique that is generally used for sales, marketing, advertising, or campaigning, in which the person or persons walk from the door of one house to the door of another, trying to sell or advertise a product or service to the general public or gather information. People who use this sales approach are often known as traveling salesmen, or by the archaic name drummer (someone who "drums up" business), and the technique is also sometimes called direct sales. A variant of this involves cold calling first, when another sales representative attempts to gain agreement that a salesperson should visit.
Telemarketing (sometimes known as inside sales, or telesales in the UK and Ireland) is a method of direct marketing in which a salesperson solicits prospective customers to buy products or services, either over the phone or through a subsequent face to face or Web conferencing appointment scheduled during the call. Telemarketing can also include recorded sales pitches programmed to be played over the phone via automatic dialing. Telemarketing is defined as contacting, qualifying, and canvassing prospective customers using telecommunications devices such as telephone, fax, and internet. It does not include direct mail marketing.
Account-based marketing. Advertising management. Consumer behaviour. Marketing. Sales management. Arabber. Bazaari. Costermonger. Hawker (trade). Huckster. Merchant. Peddler. Street vendor. Dale Carnegie - author and lecturer; proponent of salesmanship, public speaking and self-improvement. E. St. Elmo Lewis - salesmen for NCR and developer of the AIDA model of selling. Thomas J. Watson -salesman at NCR and CEO of IBM; often described as the "greatest American salesman". Walter Dill Scott - psychologist and author; wrote a number of books on the psychology of selling in the early twentieth century.
Enterprise technology sales such as CRM or POS solutions. Private data networks such as MPLS. Commercial insurance sales. Real Estate development. Large fleet vehicle sales. Mining equipment sales (e.g. Caterpillar tractors and large tunnel boring machines). Scientific Solution Sales (Data analysis and management). Government acquisition such as for military hardware and services. Building management systems. Security systems. AIDA. Contract of sale. Industrial marketing. List of marketing topics. Marketing. Promotion. Tendering.
Contract of sale. Customer value maximization. List of marketing topics. Marketing. Permission marketing. Predictive analytics. Promotion. Sales. Selling technique. Up-selling. Value added selling.
Sales force effectiveness
The benchmark study also identified 5 distinctive groups of people existing in every organization: Note: No sales force effectiveness methodologies have been independently audited by the Marketing Accountability Standards Board (MASB) according to MMAP (Marketing Metric Audit Protocol). 1) Sales / Contacts with Clients (Calls) . 2) Sales / Potential Accounts . 3) Sales / Active Accounts . 4) Sales / Buying Power . True believers - Has great adherence towards the sales process and believes its enabling powers. Compliants - Follows the sales process but do not believe it as enabling.
Contract of sale. Cross-selling. Downloadable content. Freemium. List of marketing topics. Marketing. Permission marketing. Promotion. Sales. Selling technique. Value added selling. Hoovers. (n.d.). How to Cross-Sell & Up-Sell | Proven Sales Techniques | Hoovers. Retrieved from http://www.hoovers.com/lc/sales-marketing-education/how-to-cross-sell-up-sell.html. Kearney, J. (2016, February 2). Social Spot WiFi | Turn Your Free Wifi Into a Social Marketing Machine. Retrieved from http://www.socialspotwifi.com/. Lazazzera, R. (2015, March 4). How to Increase Revenues With Upselling and Cross-selling.
Sales consultants who focus on all levels of sales and marketing for the improvement of sales ROI and moving share from competition. Strategy consultants (also known as management consultants) working on the development of and improvement to organizational strategy alongside senior management in many industries. The International Council of Management Consulting Institutes (ICMCI) was founded in 1987 and has around 50 member institutes covering the globe.
Demand-driven supply network
It enables marketing to be brought centre stage in four important ways First, it translates the language of marketing and sales into the language of the boardroom. Finance and profits are the preferred language of the modern executive suite. Marketing and sales strategies have to be justified in terms of their ability to increase the financial value of the business. It provides a bridge between marketing and the other functions. Second, it strengthens demand chain accountability. In Marketing Departments awareness, preference and satisfaction are often tracked as alternative objectives to shareholder value.
sales managersales performance managementsales
If other divisions’ compensation plan depends on final results, it is needed to present results of sales department's work to other departments. Finally, sales reports are required for investors, partners and government, so the sales management system should have advanced reporting capabilities to satisfy the needs of different stakeholders. 1) Title of job. 2) Organizational relationship. 3) Types of products and services sold. 4) Types of customers called on. 5) Duties and responsibilities related to the job. 6) Job demands. Economy. Good (economics). Marketing. Merchandise. Personal selling. Promotional mix. Sales. Sales operations. Sales force management.
net salesgross salessales
In bookkeeping, accounting, and finance, Net sales are operating revenues earned by a company for selling its products or rendering its services. Also referred to as revenue, they are reported directly on the income statement as Sales or Net sales. In financial ratios that use income statement sales values, "sales" refers to net sales, not gross sales. Sales are the unique transactions that occur in professional selling or during marketing initiatives. Revenue is earned when goods are delivered or services are rendered.
In such circumstances, trade at market prices between locations can benefit both locations. Retail trade consists of the sale of goods or merchandise from a very fixed location (such as a department store, boutique or kiosk), online or by mail, in small or individual lots for direct consumption or use by the purchaser. Wholesale trade is defined as traffic in goods that are sold as merchandise to retailers, or to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services. Historically, openness to free trade substantially increased from 1815 to the outbreak of World War I.
In marketing, the marketing expense-to-sales ratio plays an important part in expense analysis because it is used to align marketing spend with industry norms. Marketing expense-to-sales ratio helps the company drive its marketing spend productivity. Marketing expense-to-sales analysis is also included with the sales analysis, market share analysis, financial analysis and market-based scorecard analysis as one of the five analysis tools marketers used to control and drive spending productivity. The marketing expense-to-sales ratio allows companies to track actual spending that is relative to the accepted budget and relative to sales goals as stated in the marketing plan.