Summary: Sales & Procurement

Study material generic cover image
  • This + 400k other summaries
  • A unique study and practice tool
  • Never study anything twice again
  • Get the grades you hope for
  • 100% sure, 100% understanding
Use this summary
Remember faster, study better. Scientifically proven.
Trustpilot Logo

Read the summary and the most important questions on Sales & Procurement

  • 1 Sales

  • 1.1 Sales introduction

    This is a preview. There are 11 more flashcards available for chapter 1.1
    Show more cards here

  • What 3 major observations can be seen for sales organisations?

    - The market shift
    - The sales environment changes
    - A shift in decision-making
  • Which 3 factors cause the market to shift?

    - We went from a product orientation to a market orientation where we focus more on the customers needs than sales needs.
    -  There is a big pressure on the mid-market segment from two directions ( Range Rover -> Opel <- Fiat 500)
    - Increasing segmentation to survive competition, marketing mix has to be adopted to each segment. There are a lot of different needs and they all need to be answered.
  • What causes the environmental changes in the sales environment?

    - Technological revolution
    - Changes in Management
    - Changes in the behaviour of customers
  • What are the managerial influences that make the sales environment change?

    - Implementation of direct marketing techniques
    - Approved collaboration between marketing and sales
    - Enhance sales skills (integration of porter value chain)
  • What behavioural influences make the sales environment change?

    - the customers expectation is increasing
    - Customers tend to avoid negotiations -> They want to avoid contact, prefer to buy online
    - Growing power of big customers -> big groups of people gathering to negotiate the price of a product or service
    -Globalisation & glocalistion (think global,act local)
  • Why is the importance of R&D growing?

    People always have new needs, preferences,.. There needs to be a higher speed of development. That's why we need a shorter PLC to fulffil these needs as fast as possible.

    But before launching a product it is important to first conduct research to see what customers exactly want.
  • What does VUCA originally stand for?

    - Volatility: The rate of change that is speeding up, everything is going up and down way faster than before.

    - Uncertainty: Unpredictable world, we don't know what to expect anymore.

    - Complexity:   Everything is so complicated that we don't understand several things anymore, we need explainations.

    - Ambiguity: Lack of clarity leads to misinterpretation.
  • What are the solutions to this VUCA customers are asking?

    - Vision
    - Understanding
    - Clarity
    - Agility
  • Why and how do salesmen need to adapt?

    Because customers are informed buyers nowadays, their behaviour has become unpredictable. Salesmen need to know their products more than before in order to satisfy customers.

    Data of customers needs to ba analysed in order to understand them better. And also use this in the sale process.
  • How to apply lead generation in your company?

    1. First you have to analyse your market potential and look for high potential customers.

    2.  You try to create awareness and interest in your product, try to make them believe that they really need the product.

    3. They need to make a decision if they want to buy it or not.

    4. Make them take action and buy the product

To read further, please click:

Read the full summary
This summary +380.000 other summaries A unique study tool A rehearsal system for this summary Studycoaching with videos
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
Discover Study Smart