Mktg 425 assignment | Business & Finance homework help
Guidelines and Questions for Part 1 Due Week 4
Professional account managers (a.k.a. professional sales representatives) are often given accounts that have been previously managed by others. This occurs for reasons such as a colleague leaving the firm, promotion to a management position, territory realignments, and even a miss-match of communication styles between the buyer and the original sales representative. The first part of our project involves territory realignment for NewNet Systems, a Value-Added Reseller that provides B2B network products and services.
To begin, read the company details in Appendix 2 of your textbook. Following are the sections you should read carefully.
Introduction to Multiple Account Management Selling
Introduction to Your New Employer – NewNet Systems
Introduction to Your New Account Management Position
Introduction to Your NewNet Systems Account Reports (Contact Screenshots from the CRM Program)
After reviewing and understanding the scenario of your new position at NewNet Systems, go to Chapter 9 in your textbook. At the end of the chapter, you will find the details specific to this part of the Course Project. Read the Chapter 9 details, titled Developing and Qualifying the Account Database carefully.
Use the 20 new account CRM Contact Screenshots found in Appendix 2 to complete the metrics report (table) for your meeting with your manager Casey. The report should contain the following headings.
Anticipated Close Date
Stage of the Selling Process
Anticipated Dollar Amount
Likelihood to Close
Forecast Sales (Anticipated Dollar Amount X Likelihood to Close)
Using your metric report and the details in each case notes section, prepare a written report for Casey regarding your analysis of the accounts.
Which contact(s) do you think you should ignore for now? Justify this recommendation.
Select accounts that you feel you need to focus on immediately. Justify why you selected these accounts.
How many accounts do you have at each stage of the selling process? (i.e., how many at prospecting, rapport, needs discovery, presentation, closed, etc.) Based on the number of accounts in each stage, and the amount of time spent on each account, how would you assess the effectiveness and efficiency of the previous representative’s account flow management (a.k.a. pipeline management)?
Which account(s) appear to have some legal or ethical issues to consider further? Describe what these issues might be.
From an overall perspective, what was the previous sales representative’s primary sales approach? In what ways does the previous sales representative appear to have been very successful with the accounts? What ways do you think the previous sales representative could have improved upon the effectiveness or efficiency of her pipeline management?
Guidelines and Questions for Part 2 Due Week 7
After you have finished assessing the details in your newly obtained client list, also called your book of business, you met with your manager, Casey. In your meeting, you discussed your report, which was Part 1 of the project (turned in during Week 4). Casey provided you with some feedback and has now asked you to take the steps in the planning process to work with these clients to meet an established quota.
Casey notified all of the accounts by e-mail that you will be contacting them soon. She wants to meet with you at the end of the week to discuss the pre-approach to your new contacts and discuss your strategies for moving them through the pipeline. Using the metric report you created in Part 1, and Chapters 10 through 15, answer each of the following questions in a report form for your meeting with Casey. For questions where you need to justify your answer, Casey has asked you to use sources to support your reasoning. These sources are to be cited in APA format.
Reflect back to the communication style assessment you completed at the beginning of the course. Each of the four styles is represented within the 20 accounts you are expected to contact and maintain. Using the details in Chapter 5 regarding adapting and flexing your style, consider how you will need to adjust your approach and communication style/delivery. Select one contact from each of the four styles and discuss how you will need to flex and adapt your approach to match that of the client.
From the potential sales total and closing likelihood, what is a fair sales quota to be set for the coming quarter? Justify your answer.
Which accounts have completed the needs analysis and discovery stage? Which accounts have high potential for closing but have not had the needs analysis completed yet?
Which account(s) seem ready to buy, even without a comprehensive needs analysis or product presentation? What concerns or threats exist from the eagerness of these accounts?
Which account is in need of a presentation and has a number of locations? How will your approach and process differ for this firm versus that of other firms? Explain your answer.
How might the closing date, likelihood of closing and forecast sales affect your plans to negotiate customer pushback (concerns and objections)?
Some of your customers do not appear knowledgeable about networks. How does this affect the approach to the close? What closing techniques are best to consider when customers do not fully understand the solutions they are buying?
Finally, you need to complete a pre-planning process for one of the 18 prospects you will be contacting. You cannot use the two accounts that have already purchased. You are to select one of the prospects to use for this part of your report.
Why did you choose this particular contact?
What are your call objectives for this contact?
How will you flex your communication style for this contact?
Will you be meeting with the contact via phone, Skype, or in-person? Explain your answer.
What approach or opening is most appropriate to build rapport with this contact?
What stage of the selling cycle is this contact in; what do you need to do to move the contact to the next stage?
What important details do you need that are missing from the notes or contact file?
What visual aids will be most appropriate and effective with this contact in the presentation stage? Even if the presentation stage has already occurred, discuss which visual aids are most effective. Justify your answer.
From the available details, what benefits is this contact looking for?
What buyer concerns, or push-back, is this contact most likely to present to you when you meet? How might you overcome the concern?
What motivation does this contact have to buy from you?
What type of close is most appropriate and effective for this contact? Explain your answer.
From your pre-planning process report, what do you need from your manager to help you get the account through the sales cycle and secure a long-term relationship
paper of approximately 10- to 15-pages, 10- or 12-point font, double-spaced. The submitted assignment should include a cover page, table of contents, introduction, body, summary or conclusion, and works cited.