Medtronic Sales Strategy Analysis
MedTronic Assignment
1. How is the sales force at MedTronic structured?
The sales force at MedTronic is very involved with their clients. The sales people have to be heavily invested (emotionally as opposed to monetarily) in their product so they can offer the best service and be successful with sales. Each sales team member is given the chance to work on landing new clients and in doing so is expected to go above and beyond to support that relationship in any way possible. By building up the relationship over time there is more trust and willingness for business from the potential client’s perspective and from there deals can be discussed and hopefully closed.
2. Can you identify the selling process for MedTronic? Give an example of each step.
The steps in the selling process that MedTronic used that were identified in the video included five steps. The first, prospecting and qualification, deals with finding areas where business may be available and making sure it fits systematically with your product and services. Secondly is the pre-approach step, which involves researching potential barriers in hopes of being able to better serve the customer. Third is the approach step where the salesman begins forming relationships with potential clients (in this case the physician as well as the hospital board of directors) and proposes new options for them to consider. The fourth step is handling objections, and in the case of the video this was represented by the salesman being on call to demonstrate a level of commitment that could help win the business. The final step referenced is closing, which includes closing the deal and can take years as we saw in the MedTronic video.
3. Is MedTronic effective at building long-term customer relationships through its sales force? How?
MedTronic is effective at building long-term customer relationships just as any other company would be. In saying that I believe it is more dependent on the salesmen
1. How is the sales force at MedTronic structured?
The sales force at MedTronic is very involved with their clients. The sales people have to be heavily invested (emotionally as opposed to monetarily) in their product so they can offer the best service and be successful with sales. Each sales team member is given the chance to work on landing new clients and in doing so is expected to go above and beyond to support that relationship in any way possible. By building up the relationship over time there is more trust and willingness for business from the potential client’s perspective and from there deals can be discussed and hopefully closed.
2. Can you identify the selling process for MedTronic? Give an example of each step.
The steps in the selling process that MedTronic used that were identified in the video included five steps. The first, prospecting and qualification, deals with finding areas where business may be available and making sure it fits systematically with your product and services. Secondly is the pre-approach step, which involves researching potential barriers in hopes of being able to better serve the customer. Third is the approach step where the salesman begins forming relationships with potential clients (in this case the physician as well as the hospital board of directors) and proposes new options for them to consider. The fourth step is handling objections, and in the case of the video this was represented by the salesman being on call to demonstrate a level of commitment that could help win the business. The final step referenced is closing, which includes closing the deal and can take years as we saw in the MedTronic video.
3. Is MedTronic effective at building long-term customer relationships through its sales force? How?
MedTronic is effective at building long-term customer relationships just as any other company would be. In saying that I believe it is more dependent on the salesmen