Sales Management Assignment

Question 1 (10 marks)
Create a product or service that you plan to sell. It does not have to be a financial
product or service. Please provide a detailed description of your product/service
first. Then, conduct market research, by interviewing ten (10) people, using
five (5) questions, to ascertain what your target market will be for this
product/service. Look at the various variables in Table 4.2 of your study guide, and ask specific questions to determine which groups will be willing to buy your
product/service, and how much they will be willing to pay for it.
Question 2 (10 marks)
Draw up your sales strategy for your company for this product/service, in order
to produce and sell it. You will need to explain each step of developing a sales
strategy, and apply the steps from Figure 2.2 to your product/service.
Example
Step 1: Mission and objectives.
Explain what should be considered when addressing the mission, and how the
objectives help attain the mission. Here, you should develop your mission
statement and show practical application.
Question 3 (10 marks)
3.1 Evaluate how your product/service aligns with one (1) of the factors of a
changing marketplace, as discussed in Topic 1 of your study guide. (3)
3.2 Which trend in global sales practice, as discussed in your guide, will have
the biggest impact on the marketing of your product/service? Explain
why. (3)
3.3 Choose two (2) techniques from your study guide that you would use for
generating leads to sell your product/service. Explain why you feel that
these are the most appropriate methods to use for generating leads. (4)
Question 4 (20 marks)
4.1 Using ‘Porter’s five forces of competition’ model, analyse the competitive
position of your planned product/service, by explaining and applying
each force to your product/service. (10)
4.2 Choose five (5) factors from your study guide that differentiate your
product/service from those of your competitors. Discuss why these
factors are important to your product/service, and explain which
differentiation strategy you are going to follow. (10)
Example
One of the differentiation factors is ‘people’, in that employees of a company
contribute towards products and brands. For example, the design of a BMW X5
is accomplished through the in-depth knowledge of employees, which results in
all of the features of the car that customers so appreciate.
Question 5 (20 marks)
5.1 Draw up a segmentation table for your product/service. Choose four (4)
variables from each of the following headings: demographics,
psychographics, behavioural and geographics. Create a table using the
template and example below as a guideline. Then, fill in the applicable
information for your product/service. (16)
Example: BMW X5
Demographics Psychographics Behavioural Geographics
R1 million–
R1.5 million per
year income
Goes to weekend
house in the bush
at least twice a
month
Only buys BMWs Big cities all
across South
Africa
5.2 Describe any two (2) features of your product/service, and explain why
they would be beneficial to customers. (4)
Question 6 (10 marks)
Draw up a morning sales meeting agenda for the sales people who will be selling
your product/service. Ensure that five (5) of the critical characteristics of a sales
meeting, as found in your guide, are covered in the agenda.
Question 7 (10 marks)
As part of your sales management strategy, you will also need to deal with
conflict with various stakeholders. It is therefore important for you to know and
understand your own conflict style and how it affects your decision-making.
7.1 Complete the Thomas-Kilmann self-assessment test, by accessing the
following link: http://www.teaching2inspire.co.uk/teachingtips/Thomas%20Kilmann%
20Conflict%20Mode%20Instrument.pdf
Identify your personal conflict management style. Then, list two (2)
strengths and two (2) weaknesses of your conflict management
style. (5)
Note to student: you will need to research the strengths and weaknesses of
different conflict management styles. Remember to reference this research, or
you will not be awarded any marks for the question.
7.2 By referencing the strengths and weaknesses listed above, explain when
your personal conflict management style would be most appropriately
used in a conflict situation. (5)
Question 8 (10 marks)
In any selling situation, you will need to apply certain ethical principles. This
question prepares you for ethical considerations that you might encounter in the
selling of your product/service.
Explain any five (5) of the ‘Six pillars of character’ that were developed by the
Josephson Institute of Ethics. Provide a practical example of how you foresee
your application of each of the pillars in the marketing of your
product/service. (10)
Example
‘Trustworthiness’ means that you are a person of integrity who always keeps
their promises. The manufacturer of the BMW X5 must also keep their promises
in terms of the guarantee, as this ensures product loyalty and return business.
TOTAL MARKS: 100