SELLING AND SALES MANAGEMENT

ASSIGNMENT# 01

TAIMOOR RAFIQUE

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SECTION: A
Question # 01

(A)

1) Growth strategy for Travel industry:

Market Penetration

I would suggest market penetration growth strategy. Growth through market penetration does not
involve moving into new markets or creating new products; it's an attempt to increase market
share using your current products or services. Carry out this strategy by lowering the price of a
product or service, or by increasing marketing efforts to lure customers away from competitors.
So in this particular case travel industry should low their ticket prices, in this case their
customers will be enough to cover up their growth ratio. And they should follow the SOP’S
under the rules by government to ensure their customers safety.

2) Growth strategy for Financial products:

Product Development

In this scenario I would suggest product development. Product development means creating new
products to serve the same market. For example, a company that produces ice cream for
institutional buyers expands its line to include gelato and sorbet. The company can sell these new
products to existing customers and grow its business without tapping new markets. So here
financial product/services should introduce their new services for the sake of their financial
growth terms towards their customers and clients.

(B)

1) Selling approach for Travelling industry:

Affiliative selling approach

An affiliative selling relationship exists when the buyer needs specific expertise from the seller.
This is a stronger relationship that is built on trust as the buyer needs to make the best purchasing
decision possible and feels the seller will provide the information necessary for an educated
decision. Due to pandemic situation travelling industry should understand the circumstances of
an individual customer, that what he or she need from their industry. They all need is friendly
behavior from travelling industry. This friendly environment helps travelling industry to grow
their business in this pandemic situation.

2) Selling approach for Financial product:

Transactional selling approach

Transactional selling focuses on one time sales, with the ultimate goal of making the maximum
amount of sales from the maximum amount of customers. Think retail, ecommerce, and even
automotive or real estate. This model is made possible because the customers themselves are
often the ones with the buying and decision-making power meaning sales cycles are short. And
since price is such an important factor sales and marketing teams often leverage discounts and
promotions to increase sales volume. When a transactional sale is done, so is the relationship
between the customer and the business.

(C)

1) SMART goals for Travel industry (PIA) & Banking industry (UBL):

Specific

Be as clear and specific as possible with what PIA & UBL want to achieve. The more narrow
their goal, the more they’ll understand the steps necessary to achieve it. Their specific goal must
be to assure that their customers are happy with their services under the corona virus situation.
Online facilities would be the better option to relax their customers, that their customers contact
online through online service sitting in houses.

Measurable

What evidence will prove that they making progress toward their goal? For example, if your goal
is to earn a position managing a development team for a startup tech company, you might
measure progress by the number of management positions you’ve applied for and the number of
interviews you’ve completed. Setting milestones along the way will give you the opportunity to
reevaluate and course correct as needed. Under the pandemic situation they should check and
balance their organization by checking their department workings. They (PIA & UBL) should set
the target and their organization reputation after some time.
Achievable

Have you set an achievable goal? Setting goals you can reasonably accomplish within a certain
timeframe will help keep you motivated and focused. Using the above example of earning a job
managing a development team, you should know the credentials, experience and skills necessary
to earn a leadership position. Before you begin working toward a goal, decide whether it’s
something you can achieve now or whether there are additional preliminary steps you should
take to become better prepared. PIA & UBL should set their short term goals and then they
should try to achieve them.

Relevant

When setting goals for yourself, consider whether or not they are relevant. Each of your goals
should align with your values and larger, long-term goals. If a goal doesn’t contribute toward
your broader objectives, you might rethink it. Ask yourself why the goal is important to you,
how achieving it will help you and how it will contribute toward your long term goals. PIA &
UBL should make such type of goals which are relevant towards their industry and in between
their clients. So in that particular case they would achieve more industry stability. For instance in
this pandemic situation they would have to make such type of facilities which are relevant to
pandemic and may helpful for customers.

Time

An end-date can help provide motivation and help you prioritize. For example, if your goal is to
earn a promotion to a more senior position, you might give yourself six months. If you haven’t
achieved your goal in that timeframe, take time to consider why. Your timeframe might have
been unrealistic, you might have run into unexpected roadblocks or your goal might have been
unachievable. To attain success PIA & UBL should follow their success strategy which is made
by their own strategy makers and wait for a while, after some time their efforts will be their
achievement by consuming time.
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