Final Sales Final Project Instructions You can gain a large amount of information by going into the business world and interviewing salespeople and sales-related employees. This paper outlines your Final Sales Project requirements. First, you will need to set up interviews to acquire the information needed to prepare a report. This project focuses on selling practices in an industry where you may have a career interest. The interviews that you have with industry salespeople provide excellent applications of sales skills taught in the text. For example, you have to make a good telephone contact to get an interview. You have to apply your relationship strategy when you make a business contact during the first part of the interview. You need to ask good questions to get the needed information. Of course, you should follow up with a thank you letter expressing appreciation for the time and information shared. Instructions: 1. A specific company that utilizes salespeople and sales management concepts must be selected. This company will be the focus of this research study. Companies should fit into one of the following categories: retail, wholesale, industrial, or service. The company must have a sales force of at least five salespeople. Read through this set of instructions and then reflect to see if your selected company is a good fit for the project. 2. Please view the example of another student’s work (under modules-important information) so you can have appropriate project expectations. 3. Appointments should be secured with the sales manager and one-to-two sales representatives from the company. 4. Due date: Week 14/15; Saturday, May 11, 2019 5. The title page must list the following information: a. Title of the project, including the company’s name b. Student’s name c. Name of college d. Course name and number 6. Each section of the paper must be separated with a sheet of paper that identifies that the section number and title. 7. The project should contain the following basic sections: a. Preface (why you chose this area of sales, this particular company, and include your major findings in the project). b. Table of contents c. Sections 1 through V. The detailed information you provide should answer all the questions listed for each section. d. Bibliography of interviews and other references 8. Some suggested data-gathering devices for this project might consist of a. Personal interviews with salespeople and sales executives b. Researching trade journals and professional articles c. Reading references and reserve books in the library d. Personal letters requesting information e. Personal observation of selling and sales management 9. This final project will be evaluated for content and mechanics. Content refers to how well your work “answers” the questions. Mechanics refer to organization, formatting, neatness, spelling, grammar, and punctuation. The project must be typed and double-spaced. The entire sales project (all five sections) must be completed and turned in by the end of week 14. Project sections left blank, or noted as not applicable, will have points deducted. 10. The five sections of the strategic selling term project are as follows: Section I – Importance of Selling to the Company Compare the relationship of selling to the other functions of the company. What are the functions of advertising, trade shows, and public relations as they relate to the company’s selling strategies? Describe the product or service and the company. What are the main competitive (selling) advantages the company has over its competition (i.e., price and value-added new technology [relate to Chapters 6 & 7])? What is the general approach to selling – high pressure, consultative, or low key? Describe in detail. How much of the marketing budget is spent on selling versus advertising? How long is the sales cycle? How many calls does it take to close a sale? (Describe each call.) Section II. Description of the Sales Force How many salespeople does the company have? What is the rate of turnover? Describe in detail the type of salespeople the company seeks when filling positions (relate to the material in Chapters 3 and 4). Where do they seek applicants? How do they select people they think will be the most successful? What do they think of testing salespeople? How important is experience? What other items on a resume would be important in making the selection? How important are appearance, attitude, social skills, verbal skills, etc.? Do they ever use “team selling? Who are the members of the sales team? Section III. Training Program for Salespeople Describe in detail the training program for their salespeople. How much emphasis is placed on product training, sales training, sales automation, motivation, company policy training, and customer behavior training? Do they use in-house training (by company people) and/or consultant training? Where and when do they hold training meetings? How much does it cost to train a person? Do they use audiovisual tools, tapes, role-playing classroom presentation, videotape, etc.? How many steps are in the process that they recommend their salespeople use in planning a sales call? What are the steps? Do they train people in relationship skills? Is motivation important to their salespeople? Why? How do they provide motivational training or incentives? Are there support specialists (technicians, computer service personnel, sales managers, etc.) that help in strategically planning sales proposals and presentation strategies for closing key accounts? Do they or are they planning to use electronic catalogs to prepare proposals and presentations? Do they provide salespeople or are they planning to provide them with laptop computers? Section IV – Customer Profiles How are the prospects located? Does the company set up booths at trade shows to attract leads? How are sales territories determined? How much time does the salesperson spend traveling versus time in front of the prospect? How much time is spent away from home at night, on weekends, etc.? Do salespeople travel by car or air? What percent? How many calls does the salesperson make in a day or a week? Have territories ever been reorganized or will they be in the future? Why? How are sales potentials/forecasts determined for each territory? What are buying motives of a typical buyer? What is the biological sketch (detailed) of the typical buyer? Is a computerized contact (prospect) management system used? What kind? Are prospect cards kept? Are there different classes of prospects? Are presentations made to groups? How many in a group? What is the basis for classifying? What are the major buying decisions the customer must make before actually buying? Section V – Performance Standards and Compensation What kinds of performance standards does the company have for salespeople and sales managers? How often are performance standards evaluated? How are quotas set? How often are they revised? Have they been revised recently or will they need to be in the future? Why? How do quotas differ for beginners compared to experienced people? How often are salespeople and sales managers formally evaluated? By whom? What changes have occurred or will occur in the future. Why? How is an evaluation conducted? Describe in detail the compensation package for salespeople and/or sales managers. What is the average (ballpark) annual compensation amount for salespeople and/or sales managers? Beginners versus 10 years of experience? What percent of salary does incentive pay usually amount to? How does compensation relate to performance standards and evaluation? What are the pay periods? When is bonus or commission paid? Do bonuses and commissions provide motivation? How much and why?
