Reference no: EM131227512

Application Exercise

1. Search the internet for two competing electronic industrial supply catalogs or direct mail company. Assume one of the businesses is your employer. After studying the catalogs, make a comparative analysis of your company's competitive advantages

2. Erin fell in love with the Scion tC coupe and decided to visit a Scion dealer. After a test drive she was ready to place her order for the car. The salesperson, however, frustrated Erin by immediately recommending expensive options to add to the basic car such as sporting wheel and tire packages, ground effects trim, performance exhaust, satellite radio. The price suddenly jumped from $15,950 to $19,000 , way more than she wanted to spend. Erin returned home without placing the order. Assume the role of the sales trainer and suggest ways that the salesperson can improve his ability to position his product so it meets the customers needs.

3. Research value-added information on the Ritz-Carlton chain by going to www.ritzcarlton.com . Choose a location and click "Meetings", click "Quick Facts" and review the information presented. Identify at least five features you consider to be value-added features. Examine the room rates by clicking "Accommodations". Indicate the rates for single and double occupancy rooms.

4. Contact a local financial services representative specializing in stocks and bonds. Ask what percentage of clients rely on the information given to make decisions on their investments. Ask if the customers believe that advice on custom investment programs adds value to their decision making. Find out whether financial products are getting more or less complex and what effect this will have providing value-added service in the future.

5. Prior to networking it's a good idea to prepare an "elevator" presentation. This is a 30 second pitch that summarizes what you want people to know about you. You might think of yourself as a "product" to be sold to an employer who has a job opening. Make your presentation upbeat and brief. Who are you? What are you currently doing? What type of work are you looking for?

6. You are a sales rep for Xerox Corp. Assuming Xerox has just designed a new, less expensive, and better quality copying machine, make a list of 15 prospective businesses you'd plan to contact. Identify the sources you would use to develop your prospect list.

7. You are in the process of interviewing for a sales position with CIGNA Insurance Co. In addition to completing the application and aptitude test, one of the managers requests that you develop a list of prospects with whom you are acquainted. He informs you that the list includes prospects you will be working with during the first few weeks of employment. Prepare a list of 10 acquaintances you have that would qualify as prospects.

8. Sales automation software is most commonly used in the prospecting phase of selling. New products provide additional features and benefits to sales people. Visit www.salesforce.com and review the latest additions to Salesforce such as Radiant6 and Data.com. View the videos and write a short paragraph on the features and benefits.