MODULE-1

In the first the module we got to learn about fundamentals of sales and personal
selling. In this module we learned about nature, role and importance of sales
management.
The nature of sales management is goal oriented that means it has a defined
purpose and is meant to achieve certain aims or objectives. It is a continuous
process which implies that sales management takes place on a regular basis,
and the process is never-ending. It is a systematic process that means It is a
method of managing the company's sales function in which each problem has a
defined and proven answer. It is a relationship selling that means selling is a
process that effectively market the items or services, the salespeople make an
attempt to create a strong client connection. It is a marketing management
integration that includes all the marketing management activities include sales
management. It is a pervasive function that means It is a globally applicable
notion that has been used and tested by all types of businesses.
Role of sales management:
In the first module we also got to learn about the roles of sales management
which are
 To set target
 Manage the sales process
 Improve efficiency
 Identify excellence

Importance of sales management:

As we know that sales is one of the most important activity which cannot be
ignored. Any company's survival is almost impossible without revenue.
Regardless of the difficulties, the sales department is the soul of every
company. 
Sales management as per value chain:
In this module we also learned about the importance of sales management as per
the value chain where we learned that a value chain is a concept that describes
the whole chain of a company's actions in the development of a product or
service, from receiving raw materials to delivering it to customers, and
everything in between. Five primary activities incoming operations,
operations, outward logistics, marketing and sales, and service and four
supportive activities procurement and buying, human resource management,
technical development, and firm infrastructure make up the value chain
framework.
Busting some sales related myths:
Now days there are so may myths related to sales like Sales is not for girls,
Sales requires Door-to-door sales calls, Sales is all about cold Calling, It is a
high pressure target driven job, Sales is only a field job, Selling can be
unethical, Selling is for those who have gift of Gab. All of these questions were
answered during the SMBD curtain raiser session. In this session, Mr. Milind
Sarwate, Mr. Anjanesh Chaubey, and Mr. Anand Mall dispel all questions about
numerous sales fallacies. And he inspired us all to dispel all of these unfounded
myths, because without sales, no company can survive. As MBA students, it is
our responsibility to dispel all of these unfounded myths, as well as to motivate
and educate others about the role of sales in the real world and how it aids large
corporations in continuing their operations.

Personal selling:

In session 2 we learned about the personal selling. So, personal selling is a

customised sales strategy that involves a sales professional interacting with
potential consumers in person in order to influence their purchase decision.

We also learned about the various objectives of personal selling like:

 To increase the sales volume of the company's various items
 To guarantee that the entire sales volume has a correct mix of items
 To obtaining new accounts and ensuring that the company grows
 It aids in the selection of dealers as well as the extension of the
distribution channel.
 To ensure channel members' cooperation in stocking and selling the
company's products.
 To educate customers about the company's services and their benefits to
raise brand and product awareness.
 Providing Pre-sale and post-sale services are.
 Dealers and customers training.

Types of personal selling:

1. Industrial selling: Industrial selling is basically termed as B2B selling

but in a traditional business model it is characterized as the
manufacturing sector selling these are grouped into four categories on the
basis of consumer based. First category is selling to reseller, the second
 is selling to business users, the third is institutional selling and the
fourth is selling to government.

2. Retail Selling: The retail selling category is the second type of selling.
All operations directly linked to the sales of products and services to the
final customer for personal or commercial use are referred to as retail
selling. Retail selling is affected at the level of detail of a deal or even
wholesaler for carries out retailing function for large buyers

3. Service selling: Service is defined as actions that give clients with

benefits. While service, such as protected areas, is fairly different, there
are four distinct features that separate product from service. Service are
intangible in nature and cannot be touched, tasted, heard, or felt. 

Emerging Trends in the domain of Personal Selling

Our SMBD instructor, Dr. V.V. Ratan sir, also introduced us to some of the
latest developments in the field of personal selling in the second session.

• Globalization- Global competition is becoming more intense. Domestic

businesses that had never considered international competition are now
discovering them in their own backyard. This is a challenge that sales
managers and salespeople must accept; they must increase their own
selling efforts not just in their home nations, but also in other countries.

• Technological Advancements- Consumers and marketing companies

have substantially enhanced their capacities thanks to the digital
revolution and management information systems. Consumers can now
access information about items, compare them to other brands, and place
orders instantaneously through the internet, resulting in a significant rise
in sales.

• CRM- Relationship marketing strives to establish long-term satisfactory

relationships with important customers, distributors, and suppliers in
order to gain and maintain their loyalty and business. CRM software
solutions help businesses to give great real-time service by concentrating
on satisfying the particular needs of each valued client.

• Sales Force Automation- The demographics of the sales force are

changing and growing more diverse. Women are increasingly pursuing
occupations in sales management and selling, for example.
 • Team Selling/Selling Centers- In recent years, most businesses have
adopted the technique of team selling. When a corporation wishes to
create a long-term mutually beneficial connection with significant clients
with strong sales and profit potential, a team selling technique is utilised.

• Multi-Channel Management- When a company employs two or more

marketing channels to target one or more consumer categories, it is called
a multi-channel marketing system.

Module 2
In this module we got to learn about the business development where we got to
know that business development is a collection of actions and processes
designed to generate and implement sustainable and lucrative development
prospects inside businesses.

Importance of business development:

If we go in detail then business development is the thread that connects all of a

company's operations or divisions, assisting sales, revenues, product offers,
talent, customer service, and brand recognition, It establishes vital connections.
It's a crucial approach for increasing income and cutting expenditures, It has the
potential to boost the company's overall image, It might pave the way for
growth into other markets.

Steps of business development:

• Research and Ecosystem Mapping
• Identify growth opportunities
• Raise visibility and awareness
• Identify potential partners
• Craft and deliver a pitch
• Negotiate Terms
• Implement the partnership
• Nurture and sustain the partnership
Difference between sales and business development:
Sales:
 Sales can be described as that part of marketing
 It encompasses direct interaction with the prospective customers
 Sales are all about the transaction between two parties
 Sales are oriented towards customers, as its primary aim is to generate
revenue.
 Function of sales is selling products.
 Sales attempt to distribute goods and services, to the ultimate consumer.
 Sales are related to short term sales

Business development:
 It refers to the act of following the strategic opportunities for the firm, by
entering into partnerships with another company
 Business development focuses on the strategic partners, as they offer
products to various market segments.
 Business development talks about the strategic relationship between two
entities.
 Business development, sells solutions to the people.
 Business development aims at business expansion.
 Business development is associated with long term sales.