Fluent Essays

Presentation Strategy Assess presentation methodologies. Determine methods to strengthen a presentation. Create a presentation strategy that includes contingencies to overcome objections. Sales Negotiation Strategy Examine formal negotiation strategies and tactics designed to gain purchase commitment. Create a sales negotiation strategy for win-win negotiations that leave all parties satisfied. add 2 pages Formatting Your paper must be in APA seventh edition format for all submissions. Each draft must include the topics listed below. Please use the following file naming convention for your upload: MKTG425 Draft # Last Name (e.g., MKTG425 Draft 2 Smith). Your final draft should be a maximum of 10 pages in length not including title page, table of contents, references page, or any appendices. Therefore, each drafts length may vary, but in general, should not exceed two pages. This is a short paper format that will require you to be concise with your writing. For Drafts 1–3, submit only those sections designated in the Outlines section above. For the Final Draft, however, please incorporate Drafts 1–3 at the beginning of the paper so your final submission is one cohesive paper including all sections listed below. Title Page Table of Contents Sales Organization Structure Code of Ethics Communications Policy Lead Generation Plan Sales Call Policy Presentation Strategy Sales Negotiation Strategy Relationship Management Plan Internal Communications Policy References Running head: WEEK 2: DRAFT1 1 WEEK 2: DRAFT1 8 Course Project Miguel Canales DeVry University Week 2: Draft 1, Sales Plan Working as a sales manager of the Shining Company is a great opportunity of transformation. Shining firm is a new business in the Jewelry industry and lacks a sales plan that makes it difficult for the company to thrive in the competitive market. The company lacks a structure and plan about the sales making it difficult to reach to the customers in order to generate the revenue for growth and expansion. Sales Organization Structure The sales organization structure will be a proactive thinking of how the organization would be structured in order to have the best sales team handling well designed tasks to achieve success. I would adopt the product sales force structure for the sales team since this is what it would work for our industry. The jewelry industry is made up of different brand and quality of products but the products are similar. The choice of the organization structure would make sure that the sales team are specialized in the one jewelry industry and understand the needs of the customers. There is need to segment the customers based on the socio-economic status that makes it possible to achieve the required sales (CSS, 2021). In addition, there was a challenge in understanding the right customers for the product and this is solved by offering the sales team with the required research resources that would help in searching for more data about the customers and be able to link the products to the potential customers. The industry will be segmented based on the income and financial status of the customers since the Jewelry products have different value and worth and they should be directed to the right customers. The segmentation would be done in a legal and ethical manner and not to showcase the issue of discrimination by choosing their different location where all products are sold but knowing in the mind the financial status of the customers (Schultz, 2021). Market segmentation based on the needs and the willingness to pay a certain amount is a ethical way to reach to the customers and avoid the issues of deception, manipulation and threats that would damage the company reputation Code of Ethics Business ethics is about doing what is right in business operation like offering the legitimate and original jewelry and avoid giving customers fake or counterfeit products (Schultz, 2021). In a personal perspective, business ethics is more about telling the customer the truth about the products in terms of quality and pricing for them to choose what is best for them without manipulation. All stakeholders especially the suppliers are required to provide quality jewelry that is original and any counterfeit product would result to the termination of business relationship and terminating the contract. A supplier that offers counterfeit products would be subjected to law and the company would ensure that their licensure is revoked. All stakeholders have to adhere to the quality standards placed by Shining Company to supply the jewelry products or even reselling our products. Communication Policy The sales team under my leadership would be trained and undergo coaching sessions in order to understand the best practices and research techniques that are necessary to analyze the buyer’s behavior within the target market and industry to focus on meeting their needs. The sales team would develop a communication strategy and that is to use the Shining Company website and also develop social media platforms that would help get the feedback of the buyer about our products and use the data in the process of meeting the customer needs resulting to higher sales. The appropriate B2B communication channel is through the email marketing and also the use of the social media is also effective to achieve success. The B2C channels of communication are achieve through the social media platforms and stream media platform to reach to more customers in order to increase sales (Rėklaitis & Pilelienė, 2019). The chosen types of communications are applicable today especially during the Covid-19 pandemic that reduced interactions. Week 4: Draft 2 Lead Generation Plan Looking at the organization being discussed in this case that being the Shining Company which functions in the jewelry industry, the importance of having a lead generation plan will help the company prosper and at the same time ensure that it identifies and qualify its prospects in the jewelry industry. A lead qualification process is basically a process in which a company determines which potential customers are most likely to make an actual purchase. This is a very important process that is needed to be carried since it helps the teams especially in the personal selling and sales management to concentrate the resources that they do have on the prospects who are said to be in a position to buy jewelry from the firm (Jolson, 2017). Therefore in the process of qualifying leads, there certain simple yet very important steps that the Shining Company management should take with the aim of identifying its prospect customers and qualifying them. The first and very important thing that should be done in the creation of lead generating plan is to first identifying the target audience. This basically involves knowing who your customer is, one cannot identify an ideal customer if one does not know who that is. In this case it is important to first know where the customers who might buy the jewelry live, who they are, how much money they make etc. knowing and having this basic information will help in ensuring that the firm has the basic information needed for the next step. After gathering this information, it will help in ensuring that with regard to this, one picks their promotional methods wisely. In order for shinning company to generate leads, there will be the need of coming up with a promotional plan that will help in ensuring that the products being sold by the firm will get in front of the targeted audience (Jolson, 2017). In this case therefore, knowing the audience being ladies who are averagely paid, the best promotional method to use is the social Medias, pay per click (PPC) advertising or even an informational website. After identifying the promotional method the other thing to do is creating a sales funnel. This basically involves coming up with a plan of collecting the personal information of the prospects. To do this therefore Shinning Jewelry firm should come up with a landing page that will encourage the prospect jewelry buyers to share their contact information and this should be reinforces by giving out free gifts as incentives. In this case therefore there will be a need of having a customer relationship management (CRM) database that will play a role of following up the potential buyers in the process. After this has been achieved, it is important to leverage social media platforms with the purpose of connecting and engaging (Jolson, 2017). Social media will provide a platform for small businesses to come up with conversations with the prospective customers and this will end up even generating more leads. Shining firm should therefore come up with its twitter profile, Facebook page or even a YouTube channel that will help in accomplishing this objective of communicating constantly with its customers. Sales Call Policy The sale call strategy that shinning jewelry firm uses is a more of complicated one. However the fact that customers have been segmented according to their economic status helps in simplifying the sales call strategy. Therefore the first important thing to do in this case is to ensure that after the sales calls have started, sales marketers should not badmouth their competitors during the sales call. Ethical strategies should be used in sales call. Also shining firm should ensure that agendas are set and shinning firm through its management should always remain in control. The customer needs in this case are very simple and unique, the customer need that the jewelry products that the firm will be selling to be them should be legitimate and that also they should always be delivered in time if they are ordered (Macfarland, 2021). Also considering that the jewelry industry is competitive, the cost of the jewelry should match the economic status of the different customers as distributed and divided earlier. Each group should be sold the right jewelry that fits their economic status and they should not be overcharged. The sales call methodology used to outline the shining jewelry firm in this case is the SPIN selling methodology, in this case there are different things that the firm should do that will help in outlining its sales call approach. In this methodology situational questions should be made that would help in understanding the current situation of the firm in its daily activities. Problem questions should also be designed that will help in understanding the problem being faced by both the sales person and the customers and the motivation that they have in solving them. Implication questions are also device and these will help the sales people in the firm know the consequences if they fail to address the problems noticed and finally the shinning jewelry firm management should come up with need-pay off questions that would help the prospects think about how solving the problem would benefit them. Refferences CSS. (2021). Different Types of Sales Organizational Structures. Blog.thecenterforsalesstrategy.com. Retrieved from https://blog.thecenterforsalesstrategy.com/a-guide-to-effective-sales-organizational-structures. Jolson, M. A. (2017). Qualifying sales leads: The tight and loose approaches. Industrial Marketing Management, 17(3), 189-196. Retrieved from: https://ieeexplore.ieee.org/abstract/document/8170132/?casa_token=vLE_Es8DZRQAAAAA:uYd6bXC8jNKdTJMds7wgyfJj1bKaDQtBwtUv735La3R7ngCJSu8pAPNIBd6ev2UTwxpDL2QPRg Macfarland, H. G. (2021). B-To-B Sales Approaches. In International Business Development (pp. 177-195). Springer Gabler, Wiesbaden. Retrieved from: https://link.springer.com/chapter/10.1007/978-3-658-33221-1_10 Rėklaitis, K., & Pilelienė, L. (2019). Principle Differences between B2B and B2C Marketing Communication Processes. Management Of Organizations: Systematic Research, 81(1), 73-86. https://doi.org/10.1515/mosr-2019-0005 Schultz, M. (2021). 4 Key Components of Your Sales Organizations Structure. Rainsalestraining.com. Retrieved from https://www.rainsalestraining.com/blog/4-key-components-of-your-sales-organizations-structure.