Training Manual - MKTG3503 ( Grade 7) PDF

Preview

Summary

Training Manual. Grade of 7. DO NOT COPY. Only use a a guide to complete what you need to do. ...

Description

IK’SPRESHON. Sales Training Manual

Student Number: Course: MKTG3503

This sales training manual belongs to:

Confidentiality Agreement The following sales training manual has been created for and by IK’SPRESHON. It is required that this document stay confidential to IK’SPESHON. employee eyes only. Misuse of this document will result in consequences implemented by management. Signing this document illustrates you understand and accept these terms.

Signed: ______________________

Date: _______________

Sales Training Manual

Version 2.5 IK’SPRESHON. Sales Training Manual Version 2.5

Training Manual Company Overview IK’SPRESHON. is the onomatopoeia for the term expression, which defines our company as expressing innovation with contemporary style. IK’SPRESHON. pride ourselves on crafting the latest trend styles by shaping our brand from the very best materials from around the globe. Each year we launch a new product line, inspired from the materials used from various cultures. From this, we craft a specialised number of products that provide the highest of quality. What separates IK’SPRESHON. is the way we manufacture and specialise our designs. Our product style changes year to year and our unique process allows us to create furniture that is always in trend. Our finishing and production method guarantees the highest level of quality, all while offering a valued product for consumers. Today, IK’SPRESHON. furniture is sold in over 50 independent retail chains within 11 countries. With countless awards won, IK’SPRESHON. endeavor to grow and express our product as the premium furniture trend brand.

Our Vision Our vision is to create furniture that is an expression of contemporary trend styles for a mass market. This motivates us to constantly create new product portfolios and increase demand for IK’SPRESHON.. Coupled with our strategic manufacturing process, we strive to offer a highquality merchandise that is admired by our customers.

Our History The story of IK’SPRESHON. began in the Netherlands, Amsterdam, in 1986. At the time, our founder Finn Bakker was working as an architect for a small firm. Always having an eye for interior design, Finn was fed up with the lack of styles that expressed the trends at the time. He had the vision to combine the latest style trends with modern furniture manufacturing, crafting an affordable product at high quality. In 1987 IK’SPRESHON. launched with Finn’s first product line of arm chairs and side tables. Since then many milestones have been achieved, and we’re excited for the future. 1987

2018 200

2004

2016 Expands to Australia

IK’SPRESHON. Sales Training Manual Version 2.5

2009 Expands to Japan

Expands to North America

Manufacturing reallocates for mass production

Amsterdam Business Award in Product Design

2001 European Product Design Award

1994

Expands to Spain, Italy, France, UK and Germany

Founded

1989

Company Structure President

Accounts Department

Marketing Director

European Division

President: Noah Bakker [email protected] Final verdict on all major decisions within the business. Positioning IK’SPRESHON. for a sustainable growth trajectory and achieving business milestones.

Merchandise Director

General Manager

Sales Director

Australia Pacific Division

Merchandise Director: Ruben Smit [email protected] Responsible for product development and creative design. Design new concepts, trend research, source materials and laisse with manufactures. Reporting to the President and laisse with General Manager.

North America Division

General Manager: Lucas Dijk [email protected] Responsible for operations and sales distribution. Reviews marketing strategies, implements sales targets and generates business for the President.

Sales Director: Dane Van Den Berg

Marketing Director: Sophie Bakker

[email protected] Responsible for sales and client relations within IK’SPRESHON. and managing sales divisions. Reviews and accepts proposals, pricing and contracts. Reports to General Manager.

[email protected] Responsible for development and implementation of brand strategy. Developing marketing strategies for all IK’SPRESHON. divisions. Responsible for instore design and support materials. Reporting to the President and laisse with General Manager.

Australasia Division: Business Development Manager: John Hopkins – [email protected] •

Reporting to the Sales Director; responsible for selling IK’SPRESHON. within the Australia Pacific division. The BDM role prospects leads, generates new clientele and is accountable for sales KPI’s.

Account Manager: Harry Loopier – [email protected] •

Reporting to the Sales Director; responsible for maintaining client relationships, receiving new orders, in-store activations, client product training and warranty & returns issues for the Australasia division.

IK’SPRESHON. Sales Training Manual Version 2.5

Our Product Current Product Line – Australia 2018 Below illustrates a list of our 2018 product line and what features and benefits they offer. Wholesale and recommended retail pricing for the Australian market is attached. The product catalogue attached in appendix is to be used in presentations. Features

3-Seater Lounge - Various leather colour options - Hand Stitched Leather - Slimline armrest and backrest The Element - Bamboo Frame 2-Seater Sofa - Fine Napper Leather Best Seller in - Stylish bamboo Europe base - Adjustable Kyoto headrest Chair & Ottoman - Moulded polyurethane Best Seller in memory foam Europe - Valcona Leather Revive

Benefits

Wholesale Recommended Price Retail Price

- Long term durability - High quality finish - Leather is cool during summer and comfortable during winter seasons - Leather colour is fade resistant - Lightweight for movability - Ergonomically Designed - Trendy expression

$1850.00

- Supreme comfort - Optimal spinal support - Home environment conscious

$805.00

Office Chair 1 - Air Suspension - Tilt Capability - Arm Rest - Lightweight Seikō

- Executive expression - Sit comfortable for hours without movement

$455.00

Office Chair 2 - Arch Support - Balanced weight - V34 grade Wākā memory foam Dining Chair 1 - Unique Design - Wooden range - Spill resistant Sekkei Dining Chair 2 - Milano Leather - Varnished walnut finish Yunīku - Strong frame Outdoor Bench - Weatherproof - Sustainable The Benchi Bamboo

- Responsive for movement - Pigmented leather, effortless clean for spills - Strong architectural gesture - Perfect Outdoor use - Luxurious expression - Resilient to cracking, peeling or tearing - Ease to maintain. - Sustainable product expression - generous seating size

$310.00

60% Margin

$1110.00

$1999.00

80% Margin

$1399.00

70% Margin $799.00

70% Margin $499.00

60% Margin $134.00

$249.00

80% Margin $165.00

$299.00

80% Margin $310.00

Various products throughout the line share the same features and benefits. See product catalogue for full insights. IK’SPRESHON. Sales Training Manual Version 2.5

$2999.00

$599.00

90% Margin

Product Advantages

Our supply of materials consists from suppliers who specialise in their field of production, ensuring the highest of quality.

Our unique year-to-year product line ensures IK’SPRESHON. offers styles that are always in trend. Our designs fit openly to any interior environment.

The use of Bamboo in our 2018 product line offers an eco-sustainable product advantage over the competition.

Our leather is sourced from the same supplier for Bentley and Lamborghini.

Enthusing retail demand for our new product line at the end of each year.

Our Bamboo is sourced from Japan, treated and then moulded into design.

Negotiations When following the sales process, negotiations can be discussed as a final closure technique. If a retailer is happy with the proposed pricing, there is no need to enter negotiations. IK’SPRESHON. do offer discounted rates for bulk quantity purchases or large retail chains. Refer to the Sales Director for discounted pricing.

Warranty Policy 10-year conditional warranty • • •

10 years on steel structure, springs and molded foam cushions 5 years on wood frames and parts 2 years on leather and fabric covers, and plastic parts

Return Policy IK’SPRESHON. provide a full replacement for defected products at no charge to the supplier. This does not include damaged products caused by external factors.

Defect Policy Potential defects to note for the current product line: • Constant high humidity can cause harm to the bamboo used in interior products (does not include outdoor bench). Consumers must understand this is not under warranty. • Valcona leather is prone to tear on Ottoman. It is recommended shoes are not worn when using product. IK’SPRESHON. Sales Training Manual Version 2.5

Value Proposition When selling to retailers, you are not only selling our product, however our brand. Retailers need to know how they are going to value from selling IK’SPRESHON. and what we bring to them as a brand. Use these focus points throughout the presentation.

Quality Assurance

Value For Money

IK’SPRESHON. maintain a high level of attention to quality of all products when leaving the manufacturing process. Each item is looked over and tested. All materials selected for production undergo extensive research and testing.

Relationship

IK’SPRESHON. furniture offers a higher quality product compared to its price comparison competitors. This ensures ease of sale for retailers.

Brand Support Brand support is key for retailers. We offer consistent In-Store activations, Staff training and marketing material directed for consumers.

client satisfaction is a key asset for us. Our team is always available to contact. We ensure a quick and easy order process and swiftly reply to any enquiries.

Brand Value IK’SPRESHON. is a global furniture brand, known for high quality. Our branding acts as an asset for retailers when presenting our product to consumers.

IK’SPRESHON. Sales Training Manual Version 2.5

The Market Industry Insights Knowing the industry you are selling to is an important factor, it acts as a leaf of confidence when presenting. IK’SPRESHON. furniture appeals to the majority consumer buying market within Australia, the following insights can be good information to use.

Growth

Sales

Furniture retail industry is expected to grow consistently over the next 5 years. This is due to a rise in renovations and continual demand for new and replacement furniture.

Keys Factors

Sales of lounge and dining room furniture dominate the market, contributing to 48% of the industry value. IK’SPRESHON. Australia specialise in this furniture only.

Consumers 34% of the market purchasers are made up of weekly incomes ranging from $1,162 onwards. 26% of purchases are made up of weekly incomes earners from $856-$1162. IK’SPRESHON. furniture appeals to both market purchasers.

Durability, design and price remain the key factors for consumers when making the decision to purchase. Retailers will need to keep up-to-date with design trends, as trends in this segment have favoured replica designer furniture. IK’SPRESHON. furniture covers all key factors for consumer decision makers. Stylish trends, high quality top end for a medium price bracket.

Customer Insights IK’SPRESHON. targets two customer groups; large home-living retail chains and medium furniture retail chains. We focus on these two markets due to a higher sales volume potential. We don’t discourage attaining smaller independent stores or supplying our furniture to hotel chains and other commercial contractors. TIPS: • Some large retail chains, have monthly, quarterly or annual open vendor days, where prospective vendors can schedule appointments. • Be sure to ask about their policies and procedures for carrying new products. •

Refer to sales director for large home-living retail pricing proposals. IK’SPRESHON. Sales Training Manual Version 2.5

Large Home-Living Retail Chains • Stock a mass range of products via many warehouse size department stores. • Stock many brands, which encore high competition. • Identified through sales volume and establishment size. • Buying behavior - Purchases in bulk quantity. Can be volatile if units are not sold, however also can also be very loyal, profitable and valuable. • You are after the group buyer and decision maker. It is important to do enough research during prospecting and the qualifying process to find a referral, if you can. • Products that appeal to mass markets (quality and price) will motivate these buyers. • Brand support is a big factor for success, buyers favor brands who offer marketing support. The easier it is to sell, the more IK’SPRESHON. furniture will be sold.

18 large stores worldwide - Large loyal customer base – high volume sales - Valued retailer - Stylish on-trend offering

- 136 large stores - Mass customer base - Market leader - Established business - Vast range of products - caters for mass markets

- 66 retail stores in Australia - Caters for mass markets - Entry to high product range - Expanding establishment - Loyal returning customer base (low income into high)

Medium Furniture Retail Chains • Limited number of brands and products. City locations and medium store size. • Appeal to higher-income earners, firms specialise in higher quality and focus on products that will thrive profit. • Identified through establishment store numbers, product offerings and volume size. • Buying behavior - Initial small quantity orders. Success will increase orders and firms will become loyal. • Negative effects to the economy have impact. Potential to be infrequent customers. • Tracking the group purchaser is achieved during the prospect stage, medium retail chains will have a head office based in Australia. • Trendy designs and mid to high-quality products motivate these buyers.

- 21 stores in Australia - Mid to high-end furniture - Popular specialty store - Design and trend focus

- 5 stores in Australia - Brand Focused - Entry into high end furniture - Unique designs

IK’SPRESHON. Sales Training Manual Version 2.5

- 8 Stores in Australia - City Locations - Specialise in modern highquality designer furniture

The Competition Matrix Strengths Jar Furniture - Modern and practical furniture pieces - Entry level mid-price range. High purchase rate and large lower end sales volume

Tessa - Trendy and unique designs - High quality build - Australian owned and made

IMG Norway - #1 competitor for

quality. - Warranty policy and product guarantee - Strong in-store activation materials Denai - Perceived value for money competitor due to styling. - Modern designs - Specialise in Leather

Weaknesses - Low quality product - No brand value - Styles are limited to environment spaces - 2-year warranty - High price for similar product quality - Low sales volume - More traditional designs - Price range is in the high end of the market - Lack long-term build quality - Furniture sizes are impractical and heavy - Slightly more expensive

IK’SPRESHON. Differences IK’SPRESHON. furniture source higher quality materials to manufacture a product that offers supreme comfort. Our brand has a reputation for style and quality, exemplifying a brand consumers desire. Due to our unique manufacturing process, IK’SPRESHON. provide high end quality for an affordable price. Price for quality our competitors don’t offer. We guarantee this with a 10-year limited warranty. IK’SPRESHON. furniture maintains a mid-price range. Our constant instore marketing and activations reassure how high quality our furniture is, and the extent we source our materials. Perception doesn’t create loyal consumers. We never compromise quality for our designs. Style, comfort and affordability are all equal key factors to which we guarantee IK’SPRESHON. on providing.

Sales Material Proposal Template (See Appendix) Once you have held a meeting, you are required to send a proposal to the potential client. Modify the template to each client, save as a PDF, and send via email. Pricing remains constant, unless a deal is worked out via the Sales Director. Negotiations are only discussed on feedback after the proposal is sent. Following this method will maintain a high conversion ratio and limit discussion of negotiation until after a verbal commitment. See appendix for proposal template and email proposal template.

Product Catalogue (See Appendix) Our product catalogue illustrates the various products available for retail from IK’SPRESHON. It is essential to supply a qualified lead the most updated catalogue when presenting. This allows the opportunity to browse IK’SPRESHON. and have something tangible. New Clients will receive bulk catalogues for consumers on first order.

Business Cards (See Appendix) Business cards are a direct form of communication between potential clients and IK’SPRESHON. When representing the company, it’s essential to supply your business card at all times.

IK’SPRESHON. Sales Training Manual Version 2.5

Selling Strategies Sales Process

Prospecting

Objective: Determine new potential clients. - Create a profile for each suspect. Who they are, where their stores are located, what brands they currently sell, price of their products, are there any contacts for a referral, who is the group buyer. - Tools & Tips: LinkedIn to find group buyer. Call a store, ask product consumer questions. - Categories in similarities and prioritise in order to a tailored sales dialogue. Objective: Tailor sales dialogue to prospect - Know who you’re going to contact, what questions they may ask and how IK’SPRESHON will benefit their company. - By this step, you have identified that the prospect is a potential client. It is crucial you’re able to answer any questions confidently and identify how we will be of value.

Approach Objective: Qualify & commit a presentation meeting with Group Buyer - The Gate-keeper: You’ll be cold calling. You may have to call more than 5 times to get a hold of the group buyer. Stay polite and be persistent. (See appendix) - Initial Contact: Introduce yourself. Explain who we are and the reason for you call. - Qualify: Open ended questions - What needs are important? (See appendix) - Need-Pay: “What if I told you retailing our furniture could tick all your boxes and value as

Contact & Qualify

a huge asset to (company name). I can show you how over a 20-minute presentation.” - Introduction Email: Once you have a commitment for a meeting. Send a short email about us and attach product catalogue. Send an emailed meeting request afterwards. Objective: Desired Interest & commitment from lead. - Re-qualify needs with lead: “You mentioned over the phone factors important to you are” - Tailored PowerPoint slides: About us. Industry insights. Our products. Our quality. Brands they stock. RRP on our furniture. How we differ. Value proposition. How we benefit them...