I attached last weeks assignment.
Select a complex continuous process from your personal life or work. The process can be the same as in Week 1 assignment.
Complete the following:
- Use Microsoft® Excel® to calculate the defined process metrics including variation and process capability.
- Use Microsoft® Excel® and PowerPoint® to develop and display a control chart for the process.
Evaluate the control chart and process metrics using Statistical Process Control (SPC) methods.
Evaluate whether the process could benefit from the use of Six Sigma tools.
Develop a 525-word executive summary in which you describe your Statistical Process Control project and include the control chart with SPC.
Format your assignment according to APA guidelines.
Marketing is always a journey; and being that, it has a mapping and distinctive route to follow. Just like any other process, promotion of goods and services requires a technique which includes the following: prospecting, preparation and need analysis, approach, product or service presentation, handling objections, closing and a follow up.
Fig 1-flowcharting technique structure
Fig 2-Flowcharting improvement process technique structure
Presentation of product or service
Handle objections and questions after a successful presentation
Prospecting (identifying a potential target market)
Approach and make inquiries
Close the deal and do a follow up after
Carrying a need analysis
According to fig 2 above, there is a likelihood of a higher performance in sales due to inclusion of accurate and effective techniques that are focused on the customer. Inclusion of a need-based strategy and collaboration with the prospects. Some of the techniques were not employed in fig 1and thus the improved process stands a chance of higher performance.
Introduction: Executive Summary
The first step in a sales process is the identification of a potential client or a target market. Prospecting aims to convert a potential customer to be a buyer and a current customer. For a long time, salespersons have been on this journey and have not been more effective. Some techniques have been in existence and they prove to be useful. For instance, asking for referrals after a sale to a satisfied customer might spread the word around about your amazing service or product (Levashov, S., Yakymchuk, M., Korchagin, I., &Bozhezha, D. 2019). Companies have also been cold emailing where they engage with new prospects.
Marketers often have to prepare for any kind of questions, inquiries or problems arising related to the product or service offered. Need analysis is one of the major preparations that a marketer has to carry out. This is in co-relation to the environment, target population uses of the need, determination of the desired outcome if there is a need for training and the skill set and evaluation of a cost-benefit analysis (Chu, X., Zhang, J., Dixit, U. S., & Gu, P. 2019, August). Marketers have to prepare for engagement with the prospects.
Approaching a prospect is what follows after long preparation. I have a preference for asking a provocative question and then turning off my enthusiasm to let the prospect speak his or her mind. They always end up talking for long and in the conversation; I realize their biggest frustrations. This makes it easier for me to attend to their needs. The whole conversation would have made my first impression worthwhile and there will be trust between us. Most prospects do buy services and goods because of the trust and respect they have for the sales agent.
A potential buyer would want to be motivated to buy product or service and there is where a good presentation count. It is the point where one now communicates the needs of the prospect and address them. In the previous conversation, an agent become familiar with the buyer and with the knowledge knows which product suits them (Muñoz, Y., López-Gallego, F., Arias-Salazar, A., & Serna-Rodríguez, M. 2019). Physical demonstrations will be of use in this stage and show faith in your product or service.
Objections and questions are bound to come after a successful presentation. Questions posted by a prospect are actively listened to; if there is a need for educating the buyer more like in the case of insurance sales, you go ahead. Make sure you clearly understand what is being asked, answer appropriately and pose a follow-up question. When it comes to handling objections, it is done professionally (Inks, S. A., Borders, A. L., Lester, D., &Loe, T. W. 2019).
Closing the deal is the most important session of the whole sales process. During this period, one should be mindful of what is said and be as genuine as possible. This is the time to identify the decision-maker (Ziglar, Z., & Harrington, K.2019). Creating a sense of urgency can help close the sale fast and everyone leaves happy and contented. The process does not end until you do a follow up after the prospects have consumed the product or have used the services. Constructive feedback is given at this stage and referrals might come thereafter.
Chu, X., Zhang, J., Dixit, U. S., & Gu, P. (2019, August). A Precise Identification and Matching Method for Customer Needs Based on Sales Data. In International Conference on Mechanical Design (pp. 102-112). Springer, Singapore.
Inks, S. A., Borders, A. L., Lester, D., &Loe, T. W. (2019). Are Women’s Sales Skills Better Than Men’s?
Levashov, S., Yakymchuk, M., Korchagin, I., &Bozhezha, D. (2019, June). Mobile and Direct-Prospecting Methods Application for Sites Selection and Directions of Horizontal and Inclined Wells. In 81st EAGE Conference and Exhibition 2019.
Muñoz, Y., López-Gallego, F., Arias-Salazar, A., & Serna-Rodríguez, M. (2019). Selling of Products: The Use of Single-Electrode Wireless EEG in Consumer Behavior. International Journal of Psychological Research, 12(1), 57-65.
Ziglar, Z., & Harrington, K. (2019). Secrets of closing the sale. Revell.
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