Student Name: Destinee T.

Berry

Company/Brand Represented: Patek Philippe

1. Prospect Information:
A. Company Name: Mayors
Type of Business: Retail Jewelry Store
Job Title: Sr. CEO
Key Decision Maker’s Name: Xazier Ueip (decider)

B. Other Influences:

Name/Job Title Departments Role in Purchase Decision

Jr. Executive Leadership Board gatekeepers
Negotiation Head Finance Department purchasers
Executive Sales Prospect Committee initiators
Representative

2. Customer Value Proposition:

Patek Philippe has high end watches that can raise Mayors sales by 5% within 12 months,
due to our loyal-global customer base.

3. Sales Call Objectives:

1. Build Rapport:
Introduction:
Good afternoon, thanks for taking time to mees with us today. Let me start with a few questions.
Response- Excellent.
Question- How long have you been in business?
Response- We started off with Jan Bell in 1983. It was founded in Fort Lauderdale Florida, by
Alan H. Lipton, and Isacc Arguetty. Jan Bell acquired Mayors in 1998. Mayors was founded in
1910 by Samuel Mayor Getz. So, we have been in the jewelry business for a long time. How
have you seen your business grown over the years?
Response- We have too. We are glad that you like history. We started in 1839.
2. Learn Wants and Needs:
Question- I understand you have a long successful history. What are some ways in which you
want your company to improve?
Response- We want to expand our customer base, increase sales, and retain customers.
3. Follow-Up:

Question- Are you interested in finding out how we can meet these needs?
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

Response- Certainly!

4. Linking Buying Motives, Benefits, Support Information, & Reinforcement Method:

Buying Specific Support Reinforcement

Motives Benefits Information Methods
1. We can 1. We can 1. Historical data 1. This line graph
increase your increase sales shows that shows the
sales by by 5% within companies increase in
increasing 12 months. who add our foot traffic
foot-traffic. 2. We can watches within the time
2. We can increase your increase foot- span of 12
increase your annual traffic by 5% months.
brand value to earnings by 4x within the 2. This double
customers who your previous timespan of a bar graph
like quality earnings. year. shows
watches. 3. We have 2. Historical data companies
3. We offer specialty shows that who added our
features and craftsman, and vendors who watches
benefits repair man added our annual
customers who guarantee watches to reporting’s
don’t typically life-time their collection before and
get from a quality for saw a 4x after they
regular watch. your watch. return rate on added our
annual watches.
earnings. 3. Her is a pie-
3. The average graph
person needs comparing the
repairs after 15 lifespans of the
years of watches our
natural wear competitors
and tear. sell.

5. Customer Analysis:
A. What is the financial position of the company you are selling to?
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

According to Dun&Bradstreet, their annual revenue as of 2019 was 1.51 billion USD.
Yahoo finance reported that they are worth up to 10 billion dollars. This company is in
good financial standings.

B. What are the strengths of the company you are selling to?
I looked up a SWOT analysis from mba sKool.com and here is this companies strengths and
weaknesses. I highlighted some of these points in my ADAPT pertaining to their locations,
reputation, and brand presence.
Strengths:

 Established in 1851, the Patek Philippe brand is associated with history, tradition and
values
 Due to its history, Patek Philippe has developed a reputation of being a trusted and
reputed brand that makes high precision traditional watches
 The brand has several patents registered under its name since 1851
 The brand is extremely popular with the watch collectors worldwide. The brand recall is
high, and the brand positioning is clear
 Strong brand presence and legacy of Patek Philippe luxury watches
 More than 2000 people are employed with the luxury watch maker
 Patek Philippe brand has also been associated with the royal families in Europe

C. What are the weaknesses of the company you are selling to?

Weaknesses:
 There are only a few Patek Philippe Salons worldwide. This can be a major drawback for
the brand
 The brand has limited presence across the developing economies where there has been
high growth in luxury product purchases
What I think based on research
 They have a strong brand, with loyal customers
 They have a long history
 Their products are very peculiar, and can be used as timeless gifts
Weaknesses:
 They have limited locations
 They should be offered at more suppliers, to reach more customers. This can help them
with the expansion.

6. Current Suppliers (Your Three Closest Competitors Currently Supplying the

Buyer’s Company):
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

Competitor Strengths Weakness

Breguet Since 1999 Breguet has
registered over 100 patents in
watch technology
TAG Heuer Innovation in digital watches
can help TAG explore more
Cartier Has exclusive outlets in
premium hotels and resorts
across the world
The positioning of the Breguet
brand and its association with
history and culture can cause
limitations in terms of
varieties of design
Intense competition from
luxury watches
Its competitors are
predominantly watch brands
that only sell watches. Cartier
is not just a watch maker.

7. Three Closest Competitors (Of Buying Company):

Competitor Strengths Weakness

Sterling Jewelers Custom design, and
reasonable prices for lower
class citizens
Tapestry Exclusive handbags
Tiffany Have a strong history, because
they produced ceremonial
swords. They also made many
artistic products for the white
house.
Doesn’t have as long a history
as the other jewelers.
Does not create just jewelry,
and fairly new compared to
competitors
Hasn’t been able to have its
brand presence felt in the
emerging economies

8. Beginning the Sales Dialogue:

A. Introduction/thanks:
Hello, my name is Destinee Berry. I am a sales representative of Patek, and I want to
firsts start by thanking you for giving us a few moments of your time today. I understand
that you all are parents, and-or vital executives who have other things to tend to. I would
like to start our presentation. Is that okay?
Response- Yes.
B. Patek Philippe has high end watches that can raise Mayors sales by 5% within 12
months, due to our loyal-global customer base.
C. Agenda & Agenda Agreement: I plan to discuss how I can do this by briefly
describing our buying motives and explaining the way we can meet your current
needs.

D. ADA

Phase 1
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

Increase Sales
i. Assessment:
Question- Why do customers come to your store?
Expected Buyer Answer- They like luxury products that they find to be of quality, that are
exclusive.
ii. Discovery:
Question- How are your stores doing in those limited locations?
Expected Buyer Answer- We do okay, we could be doing better.
Question- Why do you want to expand?
Expected Buyer- To try to increase sales.

iii. Activation:
Question- I understand that economic downturn in those locations can impact your revenue, how
do you plan to fix that? Tell me the impact of that.
Expected Buyer Answer- We lose revenue, and potential clients. We plan to fix that by
increasing our locations.
iv. Projection:
Question- If your store had a specialty product like Patek, what would the impact be.
Expected Buyer Answer- An increase in revenue, customers, and financial security.
v. Transition to Presentation:
Question- If we told you that including our watches to your line would increase your range of
locations would you agree to distribute our products? I believe that by including our watches
then our product line will increase your sales, would you like me to how we could make that
happen?
Expected Buyer Answer- Yes, we would be interested.
E. ADAPT

Phase 2
Improve Customer-Base
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

i. Assessment:
Question- How do customers find out about your store when it is in limited locations?
Expected Buyer Answer- They find out through word-of-mouth, and marketing.
ii. Discovery:
Question- Since your store has limited clients due to its locations, how do you plan to expand
your customer base?
Expected Buyer Answer- We plan to expand by getting more locations to increase revenue and
attract more customers.
iii. Activation:
Question- If something tragic happens, and your customers start to decrease in those regions,
how will you maintain a customer base?
Expected Buyer Answer- It would decrease the number of customers wanting to buy. We would
maintain by having a specialty product for people who may still be interested in getting a watch.
This specialty product could bring them something of value during a hard time and remind them
of what they still have.
iv. Projection:
Question- If you included a product that would expand your customer base to more regions
around the world how, would that impact your customer base?
Expected Buyer Answer- We would have more sales, and resources to expand our sales. For
example, more money for marketing, and training our sales representatives.
v. Transition to Presentation:

Question- So you want to have a loyal customer base that has the potential to bring you global
recognition.
Expected Buyer Answer- Yes, we do.

9. Anticipated Questions and Objections (at least three questions and/or objections)
with Planned Responses:
1. What are the features and benefits that make your product exclusive?
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

Response- Our watches are handcrafted. We have a museum created just for our brand.
We offer chiming watches, the grandmaster chime, and minute repeaters. Patek will
replace, service, repair, and restore watches by highly trained professionals.
2. What do you do to ensure no one steals our merchandise?
Response- We have cameras, and security. We keep the watches in cases that can only be
opened with codes and keys. We only have a limited amount of watches in our stores at
once.
3. How many watches do you expect to sell per month in your locations?
Response- At least five.

10. Earn Prospect Commitment:

We know that our watches can help you increase sales and grow your customer base. We offer
brand quality and features that give us a highly competitive edge. We are the best watch
craftsman in the world with our handmade watches. What do you think about adding our watches
to your collection?
Response- We need time to think things through.

11. Building Value through Follow-up Action:

Response- That is okay with us. In the meantime, we will send handwritten letters, and
documents explaining what we discussed today. We will also, send more information about our
brand. If you want to discuss more details or learn more about our brand, we can meet within the
next two-to-three weeks. Thanks for listening to our presentation.
Student Name: Destinee T. Berry

Company/Brand Represented: Patek Philippe

Websites I used (order in which they were used)

https://www.company-histories.com/Mayors-Jewelers-Inc-Company-History.html

https://www.patek.com/en/company/history#1839-1877

https://www.dnb.com/business-directory/company-
profiles.patek_philippe_sa_geneve.40c30c7c29043549d1c75de4f231b57c.html

https://finance.yahoo.com/news/patek-philippe-going-sale-173130853.html

https://www.mbaskool.com/brandguide/lifestyle-and-retail/3450-patek-philippe.html

https://www.mbaskool.com/brandguide/lifestyle-and-retail/2814-breguet.html

https://www.mbaskool.com/brandguide/lifestyle-and-retail/2668-tag-heuer.html

https://www.mbaskool.com/brandguide/lifestyle-and-retail/2662-cartier.html

https://www.shopsterlingjewelers.com/

https://www.brighton.com/collections/1619/1/tapestry.html

https://www.mbaskool.com/brandguide/lifestyle-and-retail/3403-tiffany-and-co.html