Prospecting: Marketing and Environmental Scanning

Only available on StudyMode
  • Download(s) : 724
  • Published : February 21, 2011
Open Document
Text Preview
3.2) Ans the ff.
1.) What are the common sources used in prospecting?
2.) Is environmental scanning importantly related to prospecting? Explain fully. 3.) What are some of the basic questions for key account prospecting and discuss its important?

1.) What are the common sources used in prospecting?
Effective prospecting is a critical component of sustainable sales success. However, prospecting is not selling. You may be a well-trained and/or experienced salesperson. But your training may not have included prospecting. Or perhaps you never prospected at all. The output of prospecting is a list of qualified leads that may buy your product or service. Selling begins only after a lead is categorized as qualified. If you start selling too early, you run the risk of pigeonholing your products and services before you have the opportunity to understand your prospect's requirements. That generally leads to commoditization where price becomes the most important buying criteria. Leads and prospects could be generated using several sources. For example, advertising or flyers may include coupons or a toll-free number to generate leads. In general, prospects could be drawn from a variety of sources: 1. Current Customers, 2. Personal Contacts, 3. Referrals, 4. Telephone, 5. Computerized Databases, 6. Trade Publications, 7. Trade Shows.

2.) Is environmental scanning importantly related to prospecting? Explain fully. Prospecting MUST also include scanning of the Marketing Environment: Strengths, Weaknesses, Oppurtunities, and Threats (SWOT) Analysis. Prospecting has to consider also the changing marketing environment to gather information about social, economic, technological, competitive, and regulatory forces. Experimental scanning of the internal and external market is important because changes in the marketing environment are source of strengths, weaknesses, oppurnuties, and threats to be managed.

3.) What are some of the basic questions for key account prospecting and discuss its important? 1.) What is the size of the company? Its growth rate?
2.) What is its market share in the market segment or industry? 3.) What is the type of business? Sole ownership? Partnership? Corporation? Conglomerate? 4.) Is it a multinational company? An American firm? A British firm? A Chinese firm? etc. 5.) What is the buying process of the firm?

6.) Who are the people involved in the buying process? How many are involved? Who is the purchasing decision-maker?
8.) Is is a good corporate citizen? Does it engage in notable CSR programs?

3.3) Challenge yourself: Condominium reality and property development are boom now a days, can you please identify the possible prospects to cater in this kind of industry? justify your claims. Prepare a sales call approach and pre-approach plan for your possible prospect. Real estate marketing encompasses two major functions. Real estate agents and brokers market their business and they market the properties they've listed for their clients. Within these two areas there are a myriad of methods, media and budgeting considerations. We'll break down this huge subject into the basics and learn to market effectively in today's marketplace. It can be easier to think of the types of marketing pieces and methods you use and work backward to come up with these prospect types. However you do it, the sooner you properly categorize your prospect base the better. Here are some of the most popular types: • Buyer (or Local Buyer & Distant Buyer)

• Seller
• Investor
• Residential Buyer (Seller, Condo, Comcl, etc.)
Once you've categorized your prospects, pulling a list for very targeted marketing is easy. You can create more impact in your marketing if it's more closely focused on the interests of the prospect. You will also reduce the cost of sending marginal marketing to prospects with little interest..

******
2.)Once a target market has been established, environmental scanning is a tool that can help determine...
tracking img