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ASSIGNMENT # 1How will you open the sale? How will you approach the procurement manager of XYZ company and which mode of communication will you use to approach considering the scenario? How will you discover the actual need of XYZ company? (What questions will you ask from the customer?) How will you present your product/solution? Both oral presentation (mention type) and written presentation (mention some points that you will write in your written proposal). How will you handle the objections and how will you advocate to justify your solution? Consider LSCPA technique (especially keeping in mind the fact that your competitor are established brands in the market and you have launched a new product) How will you close the sales call? Which technique you will use to close the sale? Justify
Sales Management (MKT627)
Due Date: January 29, 2020
Total Marks: 20, Weightage: 5
Topic: Selling Process (Lesson 18 to 26)
Objective of Assignment:
The basic objective of the assignment is to make students familiar with the selling process.
After attempting the assignment students will be able to:
Comprehend as to what the selling process deals with and how to tackle situations in sales process (its stages and steps therein).
Sales process has a significant importance in any business. It helps achieve sales goals and targets and it circles around the overall activities of a sales person. As you know that sales process is divided into 3 main stages (Pre-Interaction Stage, Interaction Stage and Post Interaction Stage) and few very important steps within these stages, which need to be emphasized while making sales.
Regal Auto Mobiles has recently launched a new 796 cc car in Pakistan in a budget of one million rupees. The model is named Prince Pearl. Prince Pearl is expected to be a very good competitor of Suzuki Mehran as well as United Bravo. Standard features on Prince Pearl are power steering, air conditioner, rearview camera, infotainment system, fog lamps, alloy rims and keyless entry.Prince Pearl car price in Pakistanis around one million which is fairly competitive when compared with other vehicles of same category available in the local market. Being the sales manager, you have come to know via different sources that XYZ company working in Karachi requires 20 budget cars, for office use, with some good features along with effective AC. You have also come to know that the company‟s budget is around 1 million per vehicle. Analyzing the situation you company (Regal Auto Mobiles) has a good chance to sell some quick units.
You also know that your strong and direct competitor „Pak Suzuki Motors‟ has a very strong alternative in shape of Suzuki Mehran and with a price tag of under one million, it falls well within the budgeted range of the buyer, but it lacks good features. Other than Mehran, Suzuki also produces Suzuki Wagon R and Suzuki Cultus but in a relatively higher price range as compared to the budget of „XYZ Company‟ but still they are the options close to the budget of the company. United Bravo is also one of the strong competitor recently launched in the local market which is also in the budget range of the buyer. Therefore the competition is very tough; however, your company has a huge advantage as Prince Pearl offers many additional features as compared to the alternatives available in the market in the provided budget of „XYZ Company‟. Now that is a B2B sales scenario. You have to take the role of sales manager while considering yourself in the ‘Interaction Stage’ of the selling process. You know that it is an opportunity that can be grasped to boast the sales of your newly launched vehicle and make your mark in the market. Considering you have already qualified your customer, you know about who your competitors are and you also know that in a few days‟ time XYZ company is going to post an ad for the procurement of these vehicles. Hence, you have already taken yourself through the first stage (Pre-Interaction Stage) of the sales process and are moving into the second stage i.e. Interaction Stage.
Considering the scenario provided above, answer the following questions in context of the sales process, considering yourself as the sales manager of Prince Pearl (Regal Auto Mobiles). (Remember it is a B2B sales scenario and the competition is tough):
MKT627- Fall 2019- Assignment
Try to be practical in your approach. Put yourself into the shoes of a Sales Manager of your company to answer the questions.
Justify all your answers with logical arguments
Students are advised to study the whole text carefully.
Try not to include any irrelevant material in the solution
Try to come up with precise and original answers.
Due date is mandatory to be followed. 24 hours grace period is available after the due date, however it is highly recommended and advised to follow the due dates very strictly in order to avoid any inconvenience. Grace period is only for unavoidable and unforeseen circumstances.
Plagiarism is strictly prohibited as academic integrity is extremely important and an integral part of coursework. Virtual University of Pakistan has “Zero Tolerance Policy” as far as plagiarism is concerned. Plagiarism will result in failure in the course and strict action will be taken against the student in case plagiarism is detected in the assignments.
OTHER IMPORTANT INSTRUCTIONS: DEADLINE:
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Good Luck! Happy Learning!
MKT627- Fall 2019- Assignment