E-commerce Self Study 2

Q2.01: Compare the fundamental sales process as it has been shown here to your daily life and
the “traditional” sales process. What is difference? What is new? What is missing?
In comparing the fundamental sales process to both my daily life and the traditional sales
process, we can identify several differences, new elements, and potential missing components.
Let's break down these aspects:
Fundamental Sales Process:
Understanding Customer Needs: In the fundamental sales process, the emphasis is on
understanding the customer's needs and problems before proposing a solution. This approach
prioritizes customer-centricity.
Daily Life:
Understanding Personal Needs: In daily life, we also deal with understanding and meeting
various needs and problems. However, this can be more personal in nature, such as addressing
family needs, self-improvement goals, or health-related concerns. The focus may not always be as
structured as in sales.
Traditional Sales Process:
Pitch and Presentation: In the traditional sales process, there is often a defined pitch or
presentation where the salesperson presents their product or service to the potential customer.
Now, let's look at what's different, new, and potentially missing:
Different:
The fundamental sales process differs from the traditional approach in that it emphasizes a
consultative and customer-centric approach, which is increasingly becoming the norm in sales.
New:
The new aspect in the fundamental sales process is the emphasis on building trust and
rapport with the customer. Building a strong relationship is a relatively newer concept in sales that
is now being recognized as crucial for long-term success.
Missing:
The traditional sales process often includes stages like objection handling, negotiation, and
closing the deal, which are not explicitly mentioned in the fundamental sales process. These
elements are still important in many sales scenarios and may be missing from the fundamental
approach.
Q2.02: How much should a business manager know about technical subjects? What is “need to
know”? What is “nice to know”?
The level of technical knowledge required for a business manager can vary depending on
the industry, the specific role, and the organization's goals. Generally, there is a distinction
between "need to know" and "nice to know" when it comes to technical subjects for business
managers:
Need to Know:
i. Understand the technical aspects relevant to the specific industry.
ii. Have a strong grasp of financial principles and budgeting.
iii. Stay updated on industry trends and competition.
iv. Ensure compliance with regulations.
v. Be familiar with core business operations.
Nice to Know:
i. Be aware of emerging technologies and trends.
ii. Understand data analysis and IT systems.
iii. Possess some knowledge of marketing and sales.
iv. Know the basics of legal and HR concepts.
v. Stay open to ongoing learning as the business landscape evolves.