Most large successful companies lose the ability to enter small emerging markets because it brings additional risk to the corporation and might have stronger risk management policies. Other risks such as contractual risk, reputation risk, banking and currency risk, sustainability concerns are reasons why most companies fail to respond nimbly to changing market circumstances and challenges. Companies can address these issues by establishing proper risk management process, scenario development and contingency plans. In addition, large successful companies lose the ability to enter small emerging markets because they do not identify what they can and cannot do. They lose the capability to foresee changes, which disrupt any chances to continue to innovate and keep up with small emerging companies. Large successful companies need to always evaluate how effective they are using their resources, processes, and values. Once a company reaches the Large Company status, they lose focus and that’s not an acceptable practice in this changing technology and innovating world. Some companies fall so far behind technology and innovation where they end up going bankrupt and have to close. For example, one company may sell a product in a store and another company comes up with an ideal to sell the same product online. Customers will have the option of ordering the product online instead of driving to a store to get the same product. This a prime example of lack of continuing keeping up with technology and innovation can cause a company to hit growth trap and a result of having to close the business.…
The purpose of this experiment is to investigate the composition of a simulated pharmaceutical preparation Panacetin, a proposed type of pain-killer. Panacetin is typically made up of sucrose, aspirin, and acetaminophen, but the third component in this experiment is unknown. The unknown component is suspected to be a chemical relative of acetaminophen, either acetanilide or phenacetin. Using techniques such as extraction, evaporation, and filtration, the three components will be isolated based on their solubilities and acid-base properties. The percent composition of Panacetin will also be deduced based on the masses of the three dried components; this is done to verify the composition attained is consistent with those listed on the preparations label. As a result of this investigation, my teammates and I allowed the Panacetin to undergo gravity filtration and separation techniques in order to identify whether there are any discrepancies in the components of the Panacetin. Furthermore, recrystallization and purification methods were used to determine if the unknown substance were similar in properties to either of the suspected unknown substances by comparing factors such as melting points to the chemical properties of phenactin and acetanilide. The results were as expected, based on the molecular weights and ratios of each separated chemicals, as well as the boiling point of the unknown it was determined that these ranges were close enough to indicate that the label is reasonably accurate in its composition. To add on however the identity of the unknown component differed from what the label indicated. In the end, the percentage composition attained based on our observations and yield confirmed that indeed the chemical composition of Panacetin were as indicated on the preparations label. The identity of the unknown component however suggested that the preparation did not contain acetaminophen as indicated, but instead was consistent with the chemical properties…
“M3: Compare and contrast the personal selling skills and processes used in two different selling situations”…
Dr. Jone’s topic of discussion was about sales, marketing, and leadership challenges in the global marketplace. He also discussed the science of selling and how to become a revenue producer. Dr. Jones reviewed several steps to the sales process. The first step was about preparation. He stated that research is vital to identifying your prospect’s needs and wants by showing empathy towards customer concerns.…
Salesmen have the skills to persuade people when they are unconvinced about what they are hearing…
3) How does personal selling contribute to society, businesses, and customers? Strengthens relationships leading to increased sales and productivity…
Manning, Gerald L.and Reece, Barry, L. (2001): Selling Today: Creating Customer Value (8th ed), Prentice Hall, Upper Saddle River, NJ.…
Praise for Coaching Salespeople into Sales Champions ‘‘Winning in sales is no different than winning in life. As someone who has done a lot of personal and professional coaching over the years, I see tremendous value for anyone who reads this book. If the reader will embrace Keith’s philosophy around coaching, they can certainly expect to win in all areas of their life, while making a profound and measurable impact on their salespeople’s performance and attitude.’’ Dr. Denis Waitley Best-Selling Author of The Seeds of Greatness and The Psychology of Winning ‘‘There is no other single activity to boost sales that works better than sales coaching and this book is the best ever written on how to do it well.’’ Brian Tracy, Author of Getting Rich Your Own Way ‘‘Fluffless! Rosen continues to give practical, A to Z how-to advice. After you read it, simply do it!’’ Anthony Parinello, Author of Selling to VITO ‘‘Keith has done a tremendous job outlining the importance of coaching versus managing. Implementing Keith’s playbook will drive the development of high performance salespeople and superior results.’’ Kelly Carioti, Vice President of PepsiCo, Specialty and Self-Service Retail ‘‘There are very few good books published for sales managers and most of them are filled with biased ideology and abstract concepts. Keith Rosen’s book is refreshingly practical. It contains concrete steps on what to coach, how to coach and how to bring out people’s hidden talents without resentment, or frustration. This is the clearly the best book on sales coaching I’ve seen in a long time.’’ Gerhard Gschwandtner, Founder and Publisher of Selling Power ‘‘This is a book that will truly take entire sales organizations to the next level. Keith is spot on, and his approach to accountability in the coaching process is what so many salespeople and sales…
The role and goals of salespeople have changed dramatically over the last few years. Personal selling involves a two-way flow of communication, according to Bethel. In the past being a good salesperson was the difference of which salesman came home the latest. They showed up to your front door, product in hand, delivered the pitch and prayed that the customer purchased their product. Communication was typically done face to face and there was no follow up cost or return policy, so to speak. The salesperson in the past did not know the customer’s need or what the best interest of the customer is. The one advantage that I can think of is that a true salesman knows that at the heart of customer focus is the art of listening constructively - the best salespeople are masters at capturing information. They listen to the customers concerns and comments about the product they intend to sell and use all the information gathered to persuade the customer that their product is essential in their lives.…
Kahle, D. (February 2008). Are there best practices for salespeople? American Salesman 53, 2, February 2008, pp. 11–15…
The Salesmen are the kinds of people who have mastered the art of persuasion wherein they use verbal and non-verbal cues to say or to imply that little things can make as much of a differences as big things. We have to remember that for the salesmen, persuasion works often in ways that we do not appreciate.…
Traditional (not necessarily effective) steps of a sales call are: 1. 2. 3. 4. 5. Opening the call~Relate to the buyer (not necessarily effective in the large sale. Investigating needs Giving benefits Objection handling Closing techniques…
* Salesmen are people whose unusual charisma allows them to be extremely persuasive in inducing others’ buying decisions and behaviors. Salesmen are the third type of opinion leading influencer, people with the power of persuasion. They are naturally charismatic and contagious consumers – who often work…
• Firms should provide better assistance to newly accepted sales personnel that may not encounter shock in performing in the actual field. A number of trainings and screenings should be conducted in order for the firm to get the most suitable person for a job in sales therefore lessens people from quitting their jobs because of wrong expectations and knowledge about it.…
Sales forced played an important role in the company, since the company doesn’t use any magazine, newspaper, radio or other media advertising. Outdoor has 11 full time sales peoples in total, ranging from 23-67 years old, and each salesperson is required training to learn the product before they take over a territory. Each salesperson is responsible for their own territory, they can plan their own terms and amount of time they spend on the sales call. Chief Operating officer, Hudson McDonald, held semiannual sales meeting with all the salespeople to introduce new product and any changes in sales and company policies. On every Monday Mr. McDonald has a telephone conversation with each salesperson to learn changes in pricing, any special promotions, and delivery schedules. Mr. McDonald wastes a lot of his own and his sales staff’s time on telephone conversation every Monday. This could be better put to use with face to face interaction with the sales team and time spent overseeing the daily activities of the sales force.…