HOTE 13 F2W

Assignment 1

The 10 Step Sales Process

Due Date: July 20^th , 2022, by 11:59PM

Assignment Value: 20% of the term goal

Grade Received: Will be graded out of 100 points

Learning Objectives

After the successful completion of this assignment the student will be able to:

• Define and describe each of the 10 steps in the sales process
• Explain why prospecting can be considered the life blood of selling
• Define and explain the importance of the planning stage in sales
• Develop an approach strategy that will make a good first impression and the importance of using a strategic approach
• Explain the importance of effective needs analysis
• Define the purpose and essential steps of the sales presentation
• How to overcome a prospects objection
• Define the 12 keys to a successful close

Purpose:

You will be acting as Sales Manager for a domestically located company (Canadian Company) In todays world, companies that want to grow larger in terms of sales/revenue/profit need to expand internationally. During this assignment students will focus on developing knowledge and focus on understanding the importance of each of the steps within the sales process. This assignment will help to understand the sales steps from the initial stages through the closing of the sale. This assignment will focus on understanding our products, our company, our USP, the features, advantages and benefits of one of your companys products and the selling process as detailed within our course learning outcomes.

Companies

The company you will be researching for this assignment will be determined by the last digit of your student ID. The corresponding number below will be your topic for this assignment.

1. Saje Natural Wellness
2. Herschel Supply Co.
3. The Good Fat Co. Ltd
4. Lululemon Athletica
5. Sorel
6. Davids Tea
7. Roots Canada
8. Naked and Famous Denim
9. Aritzia

1. BITE Beauty

Before writing your report, you will need to do the following:

1. Research your assigned company and the products that it currently sells
2. Identify one product from your company that you will focus on for this assignment
3. Research and determine which Retailer the company should look to develop a relationship with.

ASSIGNMENT:

Part 1

Introduction/Company Description/Company Product(s) (20 marks approx. 500 Words)

Research all aspects of your company. Create a one-page brief detailing the following:

• Industry your company history, accomplishments, and current performance.

• Identify the industry it operates in as well as its direct competitors

• Analyze your companies offering and identify one product you will focus on for this report

Fab Approach to Sales (20 marks approx.. 500 Words)

• Analyze and complete a FAB approach detailing the product that you have determined has the potential to see growth in the market
• A diagram, graphic can be used to illustrate the FAB approach a paragraph for each should suffice
• Detail the Features, the Advantages, and the Benefits of the product

Target Market (20 marks approx. 500 Words)

• Describe your target market(s) for the product(s) that you have identified.
• Determine the likely channels of distribution for the target market
• Define the approach to marketing your company has taken

Part 2

10 Steps of the Sales Process (40 marks approx. 1000 Words)

For each step, please provide a minimum of 1 example

1. Prospecting

• Describe how you will find your customers.
• What your prospecting method will be.
• How you will connect with the prospect.

2. Pre-approach

• Describe the method you will take when preparing for your approach.
• Define and outline your strategy, plan, and end goal.

3. Approach

• Describe your sales approach techniques and method you will use to capture the attention of the prospect.
• How you will go about stimulating their interest.
• How you will transition into the sales presentation.

4. Presentation

• Define the strategy tools you will use in your sales presentation.
• Apply the FAB approach to assist the buyer in making an informed decision.
• Determine and discuss your selling proposition.

5. Trial Close

• Describe how you will transition to the trial close.
• Identify and explain 2 examples of how you would be able to gauge the prospects interest.

6. Determine the Objections

• Based on the product you have selected, identify 2 potential objections your customer may have
• How would you go about showing your understanding of these objections?

7. Meet Objections

• How would you go about overcoming these objections?

• Using a feature, advantage and benefit of your product, identify how you would go about overcoming each objection

8. Close

• Describe your final sales pitch.
• How would you go about closing the deal?
• Provide at least 1 example of the sales technique you would use to sell me on your product.

9. Follow Up

• Provide at least 1 example of the follow up technique you would use.
• Define how this might positively impact the customer.

You must send your completed report through dropbox on elearning SUBJECT LINE: HOTE 13 Sales . Please ensure you do include:

1. Your name
2. Student ID#
3. Section

All reports must include proper citing and references to the materials used in the report. This includes articles used as well as videos and images used. Failure to do so will mean a loss of marks for your submission.