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20 Cards in this Set

  • Front
  • Back

What does Marketing Include

Panning and Srategy
Successful manufacturing equipment sales are built around what?
1. Territorial Appraisal.
2. Customer Base.
3. Analysis and ranking of existing and potential customers.
4. Forecasting.
What is the ultimate goal of Marketing Plan?
To create a roadmap of success.
What are the main tasks of sales professionals?
1. Face-to-face selling
2. Waiting and traveling.
3. Telephone contact & selling
4. Service calls
5. Planning & administrative tasks.
What is a key goal of a territory marketing plan?
Analysis and planning
What does a territory marketing plan do?
1. Identifies an account territory.
2. Determines sales potential.
3. Prioritizes contacts based on potential
4. Schedules a calendar of sales calls in order to meet established goals.
Name the 5 key elements of a territory marketing plan?
1. Situation Analysis
2. Stated Results
3. Necessary Resources
4. Required Actions
5. Monitoring of Results.
Define Situation Analysis?
Defines where you have been and where you want to be in the next 12 months
What does the "gap" between where you have been and where you want to be in the next 12 months define?
The scope of the plan and establishes what the plan must achieve.
What questions does the Situation Analysis answer?
1. What defines the territory?
2. What sub markets or market segments exist within a territory?
3. What are the characteristics and needs of each identified market segment?
4. Who buys the types of products I sell?
5. What are the characteristics of these buyers?
6. What is the estimated potential of each market segment?
7. What are the strengths and weaknesses of my products, my company and me based on the identified market segments and potential?
8. What is the competitive situation? Who are they and what are their strengths and weaknesses?
9. Is the demand growing or declining in each market segment?
Define Stated Results.
The expected results and anticipated position at the end of the planning period.
What measurements are used to ensure the Stated Results are accurate?
1. Order performance.
2. Orders to quotes ratio.
3. Number of sales calls.
4. Number of new customers.
5. Increase in market share.
6. Market area coverage - salesman's customer count vs. orders.
7. Number of orders for a particular product.
8. Number of orders for a particular market (e.g. aerospace, mold & die).
9. Profitability of orders.
10. Customer retention (repeat customers)
11. Customer satisfaction ratings.
12. Lead follow-up goals.
Define Necessary Resources.
Identifies the people, materials, funding and other resources needed to implement the plan.
Name the resources used in Territory Management
1. Customer lead database.
2. Geographical market data.
3. Product information.
4. Competitive information.
5. Customer data.
6. Market research.
7. People resources.
8. Time resources.
9. Monetary resources (budget).
Define Required Actions.
Who will have to do what in order for the plan to be implemented. These are the actions required to close the gap between where you are now and where you need to be in order to meet your stated goals.
Give examples of required actions.
1. Market research to find new customers.
2. Rank new and existing markets and customers based on potential.
3. Make a sales call schedule based on potential.
4. Marketing efforts based on potential and individual market segment needs.
What should the sales call schedule consist of?
1. Sales call calendar and call zoning.
2. Live demonstrations.
3. Factory-assisted sales calls.
Name the different types of marketing efforts that can be used.
1. Direct mail
2. E-mail
3. Telemarketing
4. Newsletters
5. Seminars
6. Open houses
7. Trade shows
8. Web site
Define Monitoring of Results.
List the benchmarks or other measures of success.
What are two important things to remember when monitoring results?
1. Allow for changes to the plan if results are dissapointing.
2. Establish how and when you will measure these benchmarks.