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  • General

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      Introduction :Sales and Retail Management Forum
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      Introduction:Sales and Retail ManagementManagement

      10 Keys to Selling Your Business for Profit and Satisfaction | Inc.com

      Objectives of the course

      For any company or organization to have success financially it must have a desirable product. This product must be of need for a large proportion of the general public. Advertising, using all available media outlets, should get the message across. But the most important link after the manufacturing and advertising is the sales and retail management including the salesperson/sales representative - The person who actually sells the product to the consumer. Without him, the financial/corporate world would come to a halt! Sales and Retail Management is a business discipline that focuses on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as net sales through the sale of goods and services and resulting profit drive most commercial businesses.

      The objective of this course is to provide marketing students with a good understanding and comprehension of the contemporary role of professional selling and the role of management in this respect. Hence, managing professional salespeople is not a traditional approach anymore.

      Learning Outcomes

      • Develop a plan for organizing, staffing, and training a sales force.
      • Know the distinction between the skills required for selling and sales management.
      • Identify the key factors in establishing and maintaining high morale in the sales force.
      • Develop an effective sales compensation plan.
      • Evaluate the performance of a salesperson.
      • Organize sales territories to maximize selling effectiveness.
      • Evaluate sales and sales management strategies in relation to current legal and ethical standards of practice.
      • Demonstrate a clear understanding of major marketing concepts in writing and orally using proper business communications techniques.
      • Demonstrate the ability to use online resources to research and prepare written and oral assignments.
      Book link:
      Selling and Sales Management
      https://drive.google.com/file/d/1QIFiWAaJMxUPT9xLUwDAzYgQxHkqq7kH/view?usp=sharing
      Retail Management Book

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      Announcements Forum
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      FIRST QUIZ
      Opened: Saturday, 27 August 2022, 10:30 PM
      Closed: Saturday, 27 August 2022, 10:59 PM
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      Dear Students,

      You are requested to attempt all the questions in the Quiz.

      Thank you.

      DTA

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      Quiz-2
      Opened: Sunday, 25 September 2022, 10:30 PM
      Closed: Sunday, 25 September 2022, 10:59 PM
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      Dear students

      You must answer all of the quiz questions. Time is allotted for 20 minutes.

      Thank you

      kind Regards

      DTA

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      Quiz 4
      Opened: Tuesday, 20 December 2022, 10:30 PM
      Closed: Tuesday, 20 December 2022, 11:35 PM
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      Dear students

      You must answer all of the quiz questions. Time is allotted for 60 minutes.

      Thank you

      kind Regards

      DTA


  • Development and Role of Selling in Marketing

    Perhaps no other areas of business activities give rise to as much discussion among and between those directly involved and those who are not involved as the activity known as selling. it is important to recognize that selling and sales management, although closely related, are not the same thing. In this chapter, the nature and role of selling will be examined. 

    Chapter Objectives:

    • Understand the implications of production, sales and marketing orientation
    • Appreciate why selling generally has a negative image
    • Know where selling fits into the marketing mix
    • Identify the responsibilities of sales management
    • Recognize the role of selling as a career 
    Key Concepts:

    • Break-even analysis
    • Business to Business (B2B)
    • Business to consumer(B2C)
    • Communications mix
    • Market skimming
    • Sales management
    • Selling
    Lesson plan: 

    • Lecture preview: 5 min Video will upload before every lecture 
    • Students will participate in discussions and forums before the lecture
    • Online conference lecture for 30 min
    • Short assessment to get learning feedback (Quiz/forum/QnA form

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      Development and Role of Selling in Marketing File
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      Objectives 

      After studying this chapter, you should be able to: 

      1. Understand the implications of production, sales and marketing orientation 

      2. Appreciate why selling generally has a negative image 

      3. Know where selling fits into the marketing mix 

      4. Identify the responsibilities of sales management 

      5. Recognize the role of selling as a career

      15 Sep The 7 step selling process
      • The 7 steps. The 7 step selling process comprises: ...
      • Step 1: Prospecting and qualifying. ...
      • Step 2: Preparation/pre-approach. ...
      • Step 3: Approach. ...
      • Step 4: Presentation. ...
      • Step 5: Handling objections. ...
      • Step 6: Closing the sale. ...
      • Step 7: Follow up.
      What are the 4 types of selling?
      4 Types of Selling
      • Transaction Selling. Transaction selling works well with simple, commodity products. ...
      • Relationship Selling. Relationship selling usually involves simple or moderately complex products. ...
      • Solution Selling. Solution selling, as the name implies, solves a customer's business problem. ...
      • Partnership Selling.
      Steps to selling
      • Find customers. Research your potential customer base. ...
      • Plan your approach. ...
      • Make initial contact. ...
      • Confirm specific customer needs. ...
      • Select the appropriate product or service. ...
      • Make the sales presentation. ...
      • Handle objections. ...
      • Close the sale.
      • How do you sell effectively?
      • 10 Surprisingly Effective Sales Techniques, Backed by Research
        1. Sell to Your Buyer's Situation (Not Their Disposition) ...
        2. Disrupt Your Prospect's Status Quo. ...
        3. Introduce Unconsidered Needs. ...
        4. Tell Customer Stories with Contrast. ...
        5. Avoid the Parity Trap in Sales Conversations. ...
        6. Make Your Customer the Hero.

      Types of Sales
      • Inside Sales.
      • Outside Sales.
      • B2B Sales.
      • B2C Sales.
      • Business Development Sales.
      • Agency Sales.
      • Consultative Sales.
      • eCommerce Sales.

      Market Penetration


      13 Minutes Of B2B Marketing Strategies



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      Development and Role of Selling in Marketing File
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      Case 1 on HungryNaki Assignment
      Due: Tuesday, 16 August 2022, 12:15 PM
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      Dear Students,

      Please read the case carefully before the next class; we'll talk about it then. You must complete the answers within the time given.



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      Development and Role of Selling in Marketing Forum
      Due: Saturday, 13 August 2022, 11:59 PM
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      Sale strategist Jill Konrath once noted that “Sales is an outcome, not a goal. It’s a function of doing numerous things right”. Do you agree with this and Why? Only 3-5 sentences. Bonus mark will be given if you are right to answer. (NOT COMPULSORY BUT IT'S A GOOD CHANCE)🙂🙂🙂

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      Case Study 2 Assignment
      Opened: Thursday, 25 August 2022, 12:00 AM
      Due: Tuesday, 30 August 2022, 11:59 PM
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      Benarasi Saree: The Rise of the Fallen

      Background

      Benarasi sarees originated in Benaras, a northern city of India, and were predominantly popular during the Mughal regime in the 16th century. The weavers produced Benarasi sarees from Uttar Pradesh of India in the 1940s. Benarasi sarees, through cultural borrowing, became immensely popular in then East Pakistan (now Bangladesh) around the 1960s. With the advent of various printing techniques, including tie-and-dye, brush paint, block print, batik, and hand embroidery Benarasi emerged as a new fabric style.  They become more popular due to their cost-effectiveness and variety. In the early 1980s, the Nakshi Katha saree-developed using traditional quilting stitches first on silk and later on cotton fabric- became more prevalent among fashion connoisseurs. Georgettes. Chiffons, lace, and satin took over the market in the 1990s as they were thought to be chicer and wearable.

      Let's read more inside........attached

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      Benarasi Saree: The Rise of the Fallen Forum
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      Dear Students,

      If you have any questions about the Benarasi Saree, You can leave this here.

      But you can't ask me any direct questions to me.

      Thanks

      DTA

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      CASE 3: Chorki: Spinning Happiness Assignment
      Due: Tuesday, 13 September 2022, 11:59 PM
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      1.0 The Birth of Chorki
      The emergence of the Over-the-top (OTT) platforms greatly facilitates the up-to-date trends in global
      cultural exchange during the era of digitalization. But while the foreign tech giants operate their
      businesses in an oligopolistic manner to the extent of exercising tax-evasive behavior against the taxation
      system of Bangladesh, the upright, reputable status they hold is stained with the image of law-violators.......


      LET'S SOLVE THIS.

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      The Case: Jute Industry in Bangladesh: Revival of the Golden Days of Golden Fiber Assignment
      Opened: Saturday, 24 September 2022, 12:00 AM
      Due: Friday, 30 September 2022, 11:59 PM
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      Case 4 Jute Industry in Bangladesh: Revival of the Golden Days of Golden Fiber Forum
      Due: Monday, 26 September 2022, 11:59 PM
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      Dear Students,

      If you have any questions related to the case above, please feel free to ask me here.

      Thank you.

      Kind regards,

      DTA

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      HungryNaki Answers File
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      Dear Students,

      Please find the attached ( possible answers) for youu.

      Thanks 

      DTA

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      Benarasi saree industry of Bangladesh File
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      Dear Students,

      Please find the  answers from Rakib who got the highest marks.

      Thanks

      DTA

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      CHORKI File
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      Dear  Students,

      Please find the possible answers for the case above.

      Thanks

      DTA

  • Module Two: Consumer and Organizational Buyer Behavior

    Objectives 

    After studying this chapter, you should be able to: 

    1. Understand the different motivations of consumer and organisational buyers 

    2. Formulate strategies for approaching consumer and organisational buyers 

    3. Recognise the importance of relationship management

    CBP

    OBP

    This module provides a detailed examination of consumer and organizational buyer behavior. In particular, their differences are considered in terms of how each purchasing situation calls for an entirely different sales approach. 

    Learning objectives: CHAPTER 03

    • Understand the differences between consumer and organizational buying
    • Understand consumer buyer behavior
    • Evaluate factors that affecting the consumer decision-making process
    • Be aware of Organizational buying behavior
    • Know the factors affecting organizational buyer behavior
    • Formulate strategies for approaching consumer and organizational buyers
    • Recognize the importance of relationship management

    Lesson Plan: 

    • 5 min quick video preview
    • Live class through video conferencing 30 min
    • Practice exercise (Read before class)
    • Forum Discussion and answer submission through the Google form

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      Consumer and Organizational Buyer Behavior File
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      Consumers buy many goods to use to satisfy personal or family needs. Organizational buyers buy limited goods to use to conduct business. Consumer buying behavior is affected by age, occupation, income level, education, gender etc.

      Consumer/Organisational behaviour is a concept that relates to why people buy one product and not another and why they patronise the activities of some business services and neglect the other

      (ix) Consumer buying behaviour is on an emotional/impulse basis while organizational buying behaviour is on a rational basis. (x) Consumers buy a variety of goods to meet their personal needs while organizations buy limited goods for business use.

      The 4 Types of Buying Behaviour
      • Extended Decision-Making.
      • Limited Decision-Making.
      • Habitual Buying Behavior.
      • Variety-Seeking Buying Behavior.
      Organizations define and enforce rules for making buying decisions with purchasing policies, processes, and systems designed to ensure the right people have oversight and final approval of these decisions. Typically, more levels of consideration, review, and approval are required for more expensive purchases.


      5.0 MB · Uploaded 9/08/22, 11:25

  • Sales responsibilities and preparation

    Objectives 
    After studying this chapter, you should be able to: 
    1. Itemize sales responsibilities 
    2. Evaluate sources of sales prospects 
    3. Understand the meaning and importance of the sales cycle 
    4. Take a systematic approach to keeping customer records 
    5. Understand the importance of self-management in selling 
    6. Assess what preparation is needed prior to selling 
    7. Understand the issues in cold canvassing 
    8. Understand the art of negotiation 
    9. Plan individual sales interviews

    SALES RESPONSIBILITIES
    • prospecting.
    • Knowledge and database management.
    • Self-administration.
    • Handling complaints.
    • Providing service.
    • Relationship management
    How to Sell Anything
    1. Make it about them.
    2. Do your research before reaching out.
    3. Build rapport first.
    4. Define your buyer.
    5. Contribute first, sell second.
    6. Ask questions, and listen.
    7. Be mindful of psychological quirks.
    8. Approach them on their level.
    The 15 best sales techniques for closing your sales
    • Tell a great story. ...
    • Put yourself in the buyer's shoes. ...
    • Magnify their pain. ...
    • Handle top objections immediately. ...
    • Contact a lead immediately. ...
    • Keep contacting them. ...
    • Avoid calling mid-day, but go for mid-week. ...
    • Show your unique value.
    How to Start a Career in Sales
    1. Figure out what type of career you want. With so many companies offering entry-level sales jobs, take the time to pick the industry that interests you. ...
    2. Build and utilize your network. ...
    3. Know what roles to look for. ...
    4. Do your research to learn about the industry. ...
    5. Be ready to adapt.

    sales cycle


    How To Sell A Product



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      Sales responsibilities and preparation File
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      Objectives 

      After studying this chapter, you should be able to: 

      1. Itemise sales responsibilities 

      2. Evaluate sources of sales prospects 

      3. Understand the meaning and importance of the sales cycle 

      4. Take a systematic approach to keeping customer records 

      5. Understand the importance of self-management in selling 

      6. Assess what preparation is needed prior to selling 

      7. Understand the issues in cold canvassing 

      8. Understand the art of negotiation 

      9. Plan individual sales interviews



  • Sales settings

    Sales goals are set objectives for your sales team. These goals center on a specific sales KPI and are often tied to overarching business goals. Typical sales goal examples include increasing revenue 25% year over year or boosting customer retention by 10% in 2020.

    The secret to setting sales goals
    1. Establish your target revenue. ...
    2. Set a target length of time to close a deal. ...
    3. Define your target closing rate. ...
    4. How to set sales goals with motivation. ...
    5. Track your progress. ...
    6. Reevaluate and adjust.
    Most sales forces use sales goals to focus attention on what's important and give salespeople direction about what to do. Goals energize people and encourage them to keep going. Very often, companies link sales force incentive pay to goal achievement.

    A sales strategy is a method used by B2B sales teams to achieve sales targets and direct selling activities. A sales strategy is an opportunity to work out who you are going to sell to and how you are going to do it and is crucial to revenue generation in any business.
    How to be a Good Salesperson
    1. Identify and stick to your buyer personas.
    2. Use a measurable, repeatable sales process.
    3. Know your product.
    4. Review your pipeline objectively.
    5. Find shortcuts and hacks.
    6. Practice active listening.
    7. Work hard.
    8. Follow up.


  • Sales forecasting and budgeting

    Objectives 

    After studying this chapter, you should be able to: 

    1. Recognise the position of sales forecasting in the marketing planning system 

    2. Understand qualitative forecasting techniques 

    3. Understand quantitative forecasting techniques 

    4. Appreciate how computer software is used in forecasting 

    5. Understand the part budgets play in the smooth running of an organisation 

    6. Comprehend how the sales budget is derived and its purpose

    What is a sales forecast?

     A sales forecast is an expression of expected sales revenue. A sales forecast estimates how much your company plans to sell within a certain time period (like quarter or year). The best sales forecasts do this with a high degree of accuracy.

    Creating and implementing a sound planning, budgeting and forecasting process helps organizations establish more accurate financial report and analytics — potentially leading to more accurate forecasting and ultimately revenue growth.

    Budget is a financial statement of expected revenues and expenses during the budgeted period prepared by management before the budgeted period starts. The forecast is the projection of financial trends and outcomes prepared on the basis of historical data.

    For example, you may know that your business typically grows at 15% year over year and that you closed $100k of new business this month last year. That would lead you to forecast $115,000 of revenue this month.

    The three kinds of sales forecasting techniques are AI-enabled, quantitative, and qualitative. A majority of businesses are still using quantitative and qualitative sales forecasting strategies to make predictions.

    Multiplying the unit price by the estimated number of goods or services to be sold. Determining the cost of each good or service. Multiplying the cost of each good or service by the estimated number to be sold. Subtracting total cost from the total sales.


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      Sales forecasting and budgeting File
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      A sales budget is a financial plan that estimates a company's total revenue in a specific time period. It focuses on two things—the number of products sold and the price at which they are sold—to predict how the company will perform







  • Personal Selling Skills

    Description: Personal selling is a face-to-face selling technique by which a salesperson uses his or her interpersonal skills to persuade a customer in buying a particular product. The salesperson tries to highlight various features of the product to convince the customer that it will only add value.

    What Is Personal Selling? - Features, Types, & Examples | Feedough



    5 Effective Personal Selling Strategies
    • Present of Products and Services Benefits. ...
    • Address Customer Concerns. ...
    • Focus on Customer Satisfaction. ...
    • Tell a Story. ...
    • Follow Up. ...
    • Know Your Market. ...
    • Focus on the Right Leads. ...
    • Be Data-Informed.
    Elements of the Personal Selling Process
    • Prospecting and Evaluating. Seek names of prospects through sales records, referrals etc., also responses to advertisements. ...
    • Preapproach (Preparing) Review key decision makers esp. ...
    • Approaching the Customer. ...
    • Making the Presentation. ...
    • Closing. ...
    • Following Up.

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      Personal Selling Skills File
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      Objectives 

      After studying this chapter, you should be able to: 

      1. Distinguish the various phases of the selling process 

      2. Apply different questions to different selling situations 

      3. Understand what is involved in the presentation and the demonstration 

      4. Know how to deal with buyers’ objections 

      5. Understand and apply the art of negotiation 

      6. Close a sale



  • Direct marketing

    Direct marketing is a promotional method that involves presenting information about your company, product, or service to your target customer without the use of an advertising middleman.


    What Is Direct Marketing? Direct marketing consists of any marketing that relies on direct communication or distribution to individual consumers, rather than through a third party such as mass media. Mail, email, social media, and texting campaigns are among the delivery systems used.

    • Telemarketing. Telemarketing involves contacting clients over the phone to sell them a product or service. ...
    • Email marketing. ...
    • Text marketing. ...
    • Direct mail. ...
    • Kiosk marketing. ...
    • Direct selling. ...
    • Social media marketing. ...
    • Brochures.
    Direct marketing allows you to generate a specific response from targeted groups of customers. It's a particularly useful tool for small businesses because it allows you to: focus limited resources where they are most likely to produce results. measure the success of campaigns accurately by analysing responses.
    A direct marketing channel consists of just two parties—a producer and a consumer. By contrast, a channel that includes one or more intermediaries (wholesaler, distributor, or broker or agent) is an indirect channel. Firms often utilize multiple channels to reach more customers and increase their effectiveness.

    The intent of direct marketing is to get a targeted number of people to buy your product or service. Or, put another way, advertising speaks to people en masse, while direct marketing speaks to people as individuals.

    Direct marketing involves mail, email, brochures, catalogues, flyers, database marketing, newsletters, coupons, social media, and texting campaigns. Personal selling, on the other hand, involves salespeople using their skills and abilities to convince the customers to buy products.


  • An overview of Strategic Retail Management

    What is Retailing?

    Retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer—ranging from cars to apparel to meals at restaurants to movie tickets. Retailing is the last stage in the distribution process from supplier to consumer.


    The Retailer’s Role in the Sorting Process


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      An overview of Strategic Retail Management File
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      Chapter Objectives 

      1. To define retailing, consider it from various perspectives, demonstrate its impact, and note its special characteristics 

      2. To introduce the concept of strategic planning and apply it 

      3. To show why the retailing concept is the foundation of a successful business, with an emphasis on the total retail experience, customer service, and relationship retailing 

      4. To indicate the focus and format of the text

      5. To explain what value really means and highlight its pivotal role in retailers’ building and sustaining relationships 6. To describe how both customer relationships and channel relationships may be nurtured in today’s highly competitive marketplace 

      7. To examine the differences in relationship building between goods and service retailers


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      Assignment on the Case and presentation
      Opened: Saturday, 12 November 2022, 12:00 AM
      Due: Saturday, 19 November 2022, 5:59 PM
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      Dear Students,

      Please review the case and respond to the questions provided.

      Your responses will be included in the presentation. Get ready.

      Thank you.

      DTA


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      Q & A on the Case study Forum
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      Dear Students,

      If you have any questions related to case, feel free to ask me.

      Thanks

      DTA

  • Targeting Customers and Gathering Information

    Chapter Objectives

    1. To discuss why it is important for a retailer to properly identify, understand, and appeal to its customers 

    2. To enumerate and describe a number of consumer demographics, lifestyle factors, and needs and desires—and to explain how these concepts can be applied to retailing 

    3. To examine consumer attitudes toward shopping and consumer shopping behavior, including the consumer decision process and its stages 

    4. To look at retailer actions based on targetmarket planning 

    5. To note some of the environmental factors that affect consumer shopping

    6. To discuss how information flows in a retail distribution channel 

    7. To show why retailers should avoid strategies based on inadequate information 

    8. To look at the retail information system, its components, and the recent advances in such systems 

    9. To describe the marketing research process

    How to identify my Target Market?


    An Introduction to Market Segmentation


    What is Customer Insight?


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      CH-3 Targeting Customers and Gathering Information File
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      Shaping the modern retail in Bangaldesh Assignment
      Opened: Friday, 25 November 2022, 12:00 AM
      Due: Wednesday, 30 November 2022, 11:59 PM
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      Dear Students,

      You are asked to read the link below and figure out what the problems are. What would you suggest Bangladesh do to deal with these problems? (Max. word 300words. NO COPIES FROM THE INTERNET)

      https://bbf.digital/shaping-modern-retail-in-bangladesh

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      Quiz 3
      Opened: Sunday, 27 November 2022, 10:30 PM
      Closed: Sunday, 27 November 2022, 11:15 PM
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      Dear students

      You must answer all of the quiz questions. Time is allotted for 40 minutes.

      Thank you

      kind Regards

      DTA


  • Situation Analysis

    Chapter Objectives 

    A situation analysis is a detailed examination of a company's market presence based on internal and external factors. It examines a business's current and potential customers and how they respond to the company's products and services.

    Five key components of the organization's specific business environment are examined. These are customers, competitors, suppliers, and government and legal issues—including regulations and advocacy or support groups.


    There are many ways to perform a situational analysis. The three most popular methods are the SWOT analysis, the 5 C's Analysis, and Porter's Five Forces. A useful situational analysis should be practical, easy to understand, provides equal attention to internal and external factors, and sets goals for your business.

    A SWOT analysis is a method under situation analysis that examines a company's strengths, weaknesses, opportunities and threats, both from a current and future perspective. Ultimately, the goal of a company is to continue building on strengths while reducing weaknesses.

    The situational factors involve five categories: physical surroundings, social surroundings, temporal perspective, task definition, and antecedent state.

    Examples of situational factors are your environment, work and school, and the people around you. The opposite is dispositional factors that are are individual characteristics that influence behavior and actions in a person like personality traits, temperament, and genetics.

    Retail Life Cycle


    Retail Management - Visual Merchandising


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      Situation Analysis File
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      Situation Analysis Assignment
      Opened: Wednesday, 7 December 2022, 12:00 AM
      Due: Saturday, 10 December 2022, 11:59 PM
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      Q. There are many ways to perform a situational analysis. The three most popular methods are the SWOT analysis, the 5 C's Analysis, and Porter's Five Forces. A useful situational analysis should be practical, easy to understand, provides equal attention to internal and external factors, and sets goals for your business. Explain this in the context of company perspective where you are working. Max.Words 250words. NO COPY FROM THE WEB

  • Topic 11

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  • Topic 15

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