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Industrial marketing

Industrial marketing

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Published by Gautam DOnga

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Published by: Gautam DOnga on Feb 04, 2011
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Prepared by: Jalpa Chauhan Gautam Donga Rohan Mistry Vaishali

Gaining Customer is the process of

prospecting for new business relationships, assessing the mutual fit between prospective customer requirements and supplier offerings and priorities, making the initial sale and fulfilling the initial order to the customer s complete satisfaction

Gaining Customer

Prospecting Customer 
Gaining Leads  Handling Inquiries  Qualifying Prospects


Prospecting for New Business Relationship 
There are three type of potential

Leads are names of the possible client. Inquiries are the customer initiated business contact with the supplier firm. Prospects are the leads and inquiries that the supplier firm has qualified as having significant sales and profit potential.

The Product Market Growth Matrix 

Market Penetration is the primary goal,

manager seek to increase the firm s share of business for existing offering among current, former, and new customers within presently served market.  Product development is objective, managers attempt to cross-sell a new product/services to the current customer. 

Market development is the intent, they

pursue new business for the firm s present offerings in previously untapped market segment.  Diversification is the goal, business market managers enlarge the supplier firm s customer base, seeking new customers in unexpected markets for the new offerings.

Integrated Marketing Communication 
IMC entails four closely coordinated activities:  Set sequential communications objectives
Based on the Response Hierarchy Models 

Develop a complementary and cost effective

mix of promotional tool
When seeking the new customers, managers are likely to begin with lower-cost and lower-impact promotions to generate inquiries and progress to higher-cost and impact promotions targeted toward their best prospects. 

Create value proposition and communicate it

through all promotions 
Impalement selected promotional tool

Encourage and process inquiries 
Direct Response Advertisement  Trade shows and exhibitions  Prospecting plus for processing inquiries

Foster strong brands 
Brands play two critical roles in business

markets  Reduce risk and time related cost.  A short hand descriptor

Qualifying leads and inquiries as prospects 
Experts urge supplier to ask all prospective

clients at least five question:
1. Is the potential customer currently using a 2. 3. 4. 5.

similar product? Is the firm considering purchasing the offering? When does the firm plan to execute the transaction? Is the individual contacted is the ultimate decision maker? Has funding been approved for the acquisition?

Getting the sales force to follow up with prospects 
For this sales force have to deliver
‚ Training ‚ Council meets ‚ Important when sell new product or penetrate new market

‚ Link compensation packages to new account development ‚ Sales or turnover to new accounts

‚ Role playing

Sales support
‚ Market research ‚ Technical information ‚ Improve communication media


The first step in building a long term business

relationship  Consultants Rackham and De Vincentis distinguish between three sales approaches:
Transactional selling Consultative selling Enterprise selling 

Transactional selling
Focuses on gaining the order for a product/service as quickly as possible. 

Consultative selling
Sales representative become a long-term, trusted and value-adding resource for a customer firm by gaining an in-depth understanding of its operation. 

Enterprise selling
In it the offering is a partnership and not just products and services.

Getting Started for Simple Sales 
In Simple sale, the customer firm requires an

offering of low importance and minimal risk such as a generic item.  Customer fully understand the basic attributes and applications of the offering they require.  Straight rebuy or modified rebuy.

Initial Dialogue for complex selling 
In complex selling customer seek an offering

significance and associated risk such as a bottleneck or critical item.  Customer will require detailed explanations about the performance of the product.  Require longer period of time to decide what to purchase.  Identify gatekeeper and schedule initial meeting with that person.

Learning each other s Requirement 
In a simple sale, the prospect and the

salesperson often are able to articulate the potential customer s requirements after a short period of interaction. 
In a complex sale, neither the prospect nor

the sales representative may Fully comprehend customer requirements. 

Three learning stages for sales person in

Plan the call Open the call Investigate Requirements and preferences

Plan the call 
In it the representative briefly identifies key

objectives to accomplish during the call, selects topics to discuss, formulates a presentation, and considers selling tactics.  In a simple sale the salesperson may be able to get an order during the first meeting.  In a complex sale the salesperson may use the first call to learn about the prospect s business philosophy, mission and goals and purchasing orientation.

Open the Call 
This stage is to establish trust.  There are five types of trust-builder that sales

person can use:
Candor speaking openly and honestly. Dependability fulfilling promises i.e. getting answers to a prospect s technical question or delivering sample on time. Competency problem solving skill, command over relevant product. Customer orientation learning more about customer requirements, Likability by being courteous and polite

Investigate Requirements and Preferences

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