MRK430 Sales Plan Report #2 (1)

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Seneca College *

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430

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Business

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Apr 3, 2024

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MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2 THE SALES CALL Step 1 – The Approach  This “conversation” will be a continuation from the previous dialogue you had with the buyer when you booked the sales call appointment. When you spoke on the phone, you “piqued their interest”. Now you are actually meeting them to have the sales conversation.  Write this section in a dialogue format:  Person name: Anisha Chopda  Product being sold: Insurance  Selling Company name: Manulife  Buyer: TD Bank  Salesperson: “Hello, My name is Anisha Chopda and I’m working as a sales representative at Manulife Financial Corporation.”  Prospect: “Hi Ms. Anisha, I’m Rose”  Salesperson: “Thanks for giving us for your precious time. I heard a lot about of your company  and I’m very grateful to make business with your company and we have a great opportunity that will be very helpful for you.”  Prospect: “Oh, thank you very much for your compliment and yes actually, we are looking for Insurance for our employees.”  Salesperson: “Yeah, that is why I’m here with a great deal with you to solve your problem, we will help you.”  Prospect: “Yes, Of Course Step 2 – Needs Assessment This critical step in the sales process is a conversation with a prospect where you uncover and/or confirm specific needs that the buyer has and would like to solve. List three potential needs (problems or opportunities) for your product that, based on your research, the buying company may have. 1) Manulife insurance policies are customizable and flexible. They allow individuals to meet their needs and budget. 2) Provides onsite wellness services that include massages, reflexology, heart health assessment, blood pressure monitoring, eye check, and cancer awareness seminar 3) They provide a fully paid defined benefit pension plan for every eligible employee on salary up to the Canada pension plan's maximum pensionable earnings. Explain why each of these is potentially important to the customer. 1) It is a highly recommended company for financial services to businesses and people 2) This bank also has a very high brand reputation when it comes to the quality and durability of its products and services. 3) Once this company works with another business or even works for their customers, they build a good relationship with them and the customers keep wanting to work with

MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2 this company Using SPIN present a list of the questions you will be asking the buyer to both uncover needs and make them important enough to take action. List three SITUATION Questions: 1) Could you tell me more about your current employee insurance policy? 2) What is your current approach to employee health and wellness initiatives? 3) Which retirement plans do you now provide to your staff members? List three PROBLEM Questions 1) Have you encountered any coverage or flexibility issues with your present insurance policies? 2) Are there any particular health problems or worries that you would like to address with your staff members? 3) How satisfied are you with the retirement benefits you currently offer, and have there been any concerns raised by employees? List Three IMPLICATION Questions: 1) What potential effects do you think providing more flexible insurance policies might have on your rates of employee retention and satisfaction? 2) What possible repercussions do you envision if you don't handle wellness and health programs among your employees? 3) How, in your opinion, might providing a defined benefit pension plan improve your company's standing and appeal to prospective workers?

MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2 List three NEED-PAYOFF Questions: 1) How do you see customised insurance plans helping your business save money or improve employee satisfaction? 2) What benefits do you hope your employees would experience as a result of having onsite wellness services? 3) How, in your opinion, might providing a full pension plan affect the productivity and long- term loyalty of employees? How will you demonstrate active listening during the sales call? 1. Truly listen to the prospect. 2. Don’t interrupt in the when prospect is speaking. 3. Feedback the content and feeling of the prospect’s words. 4. Confirm you heard the prospect correctly. 5. Ask a relevant follow-up question to further clarify your understanding of their situation. Step 3 – Presenting Solutions You have completed the needs assessment now it is time to make the sale. What is your product/service recommendation and how will it meet the explicit needs expressed by your buyer? Describe and explain. In light of our conversation, I advise getting a comprehensive insurance plan from Manulife. This package includes wellness services for your staff, future-focused pension plans, and insurance products that may be tailored to meet your needs. It takes care of everything you stated, offering your business the finest value and ensuring that your staff are well-cared for. Note: The sales demonstration should transition from the needs assessment stage and provide an opportunity to present and prove the effectiveness of the solution The Sales Demonstration - Prove Benefits using Sales Tools Note: You do not need to hand in your Sales Tools with this assignment. They will be used in your Sales Video Benefit Statement #1 Sales tool that will prove Benefit #1 Manulife's adaptable insurance plans make sure your business has the protection it requires while staying within your means. A table that contrasts the affordability and flexibility of Manulife insurance plans with those of rival companies. Benefit Statement #2 Sales tool that will prove Benefit #2 Your staff will benefit testimonials or case studies from businesses using

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MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2 from enhanced health and wellbeing as a result of our on-site wellness programmes, which will increase output and decrease absenteeism Manulife's wellness offerings and witnessing improvements in worker productivity and well-being. Benefit Statement #3 Sales tool that will prove Benefit #3 Manulife's defined benefit pension plan gives your staff members financial stability in retirement, which helps draw and keep top talent while boosting morale and loyalty. An illustration of the security and long-term financial gains offered by the pension plan, like a sample pension payout schedule or retirement savings calculator.

MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2 Step 4 – Addressing Concerns – Overcoming Objections 1. Negotiation Worksheet Complete the table below for (3) Customer Concerns. The first must be a price objection Customer objection Type of objection Dialogue 1. Need to remain inside the budget. Price As you know, our product is best and it is the good deal for your company. Moreover, our product never let you down while working. 2. Already satisfied with present supplier Source Now give us a try to satisfy your needs. 1. Need not bother with that during this year Time It can strengthen TD's position, improve productivity, and enhance long-term financial security for its employees STEP 5 – Closing the Sale 1. Closing Worksheet Complete the table below for three (3) Closing Methods. Closing Clue (Prospect) Closing Technique/Meth od Closing Statement Ask for order 1. Satisfied with all benefits. Benefits “These have all features and benefits; in future you will be happy for this deal.” 2. Won’t go beyond the financial limit Concession “Don’t worry; we will give you a special concession.” 3. Seems excited Close to buy “So, can we final this deal?” STEP 6 – Departure & Expanding Customer Relations Discuss how you will work to add value and enhance mutual opportunities  Delivery plans: Establish precise delivery schedules to guarantee the insurance policies, wellness programmes, and pension plans are implemented smoothly. Resolve any issues as soon as possible.

MKM430 - PROFESSIONAL SELLING SALES PLAN – REPORT #2  Training: Provide TD's HR staff thorough training so they can maximise utilisation and properly explain benefits to workers.  Provide Quality Customer Service: Remain committed to providing excellent customer service by promptly answering questions, resolving issues, and providing TD with regular updates on the status of the plan.  Customer expectations: Control client expectations by communicating clearly, establishing reasonable deadlines, and taking proactive measures to resolve any possible problems.  Develop a service strategy: Create a service plan with proactive communication, individualised assistance, and feedback-driven continuous improvement as top priorities.  Customer service dimensions: To surpass expectations and foster trust with TD, make use of customer service dimensions including responsiveness, empathy, reliability, assurance, and tangibles.

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MRK430 Sales Plan Report #2 (1)

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