Each response post should consist of at least 100 words.
Point out what you perceived to be the strengths of the initial posting along with supporting rationale.
Identify specific opportunities for improvement with regard to the content in the initial posting. Furthermore, you should provide supporting rationale for your stated position, as well as concrete suggestions and guidance intended to strengthen the effectiveness of the content
Describe 3 selling strategies needed to achieve the desired customer relationship.
What would marketing do for the new division? What would its role be, and what would you consider success for marketing?
The extent to which marketing can help this new division and co-operate this new market environment with sales can be quite extensive, depending on Mike and Marc’s specific business strategies.
For one, an effective marketing campaign can drastically increase recognition of Reagan Technologies’ new product line and would subsequently generate some viable leads for their sales division.
Various marketing mediums such as advertising, collateral, and promotional campaigns, could position this company as a thought leader in the industry thus increasing interest and furthering lead generation (Tanner & Raymond, 2019).
Lastly, effective marketing could improve conversion ratios and strengthen market feedback mechanisms, creating a competitive advantage for the company.
Success for this particular marketing campaign could take a quantitative approach and utilise conversion trend analysis, in order to track effectiveness in lead generation. Data tracking of engagement rates and click-through rates can also be formatted for quantitative analysis.
Qualitatively, the marketing department can track the safety records of the various companies who utilise their scaffolding over time and determine the effectiveness of their safety information/material. All else equal, increases in any one of these would be a success in my book.
What type of sales position would they need, and what are several sales strategies they might implement?
I think this company, in particular, would benefit from an affiliative-selling relationship due to the symbiotic inherencies this new product line produces. Additionally, most of these companies work through contractual agreements with other companies and warrant needs based on consistency, reliability, and safety.
If they can formulate a position as thought leaders, this would build an effective network for future sales. Since the products being offered are fairly standard and the needs of the costumers don’t vary much, perhaps a script-based selling strategy would be the best fit (Tanner & Raymond, 2019).
This can provide sales representatives with a professional description and is cost-efficient. They can tailor their strategy to include a more needs-satisfaction strategy, however, customer needs for scaffolding are pretty standard.
Tanner, J., & Raymond, M. (2019). Principles of Marketing (4th ed). N.p.: Flat World.
Marketing for the Reagan’s renting business would create value for the organisation since the Reagans were adapting their primary business so creating a messaging to assist other companies show there is a need to use their additional services, even if those companies do not use the Reagans for painting. The marketing would demonstrate the diversity in the company which could provide tools, counselling, and labour.
Marketing can facilitate new relationships in the industry. Companies prefer building relationships with customers who can buy more than once.
In order to earn the right for future business, companies have to ensure that the company satisfies the customer’s requirements and sometimes, that means building relationships across the company so that adaptations are correctly made to the offering.
Most business considering marketing successful if a profit is made, in my opinion if the Reagans can be successful building more partnerships and loyal customers, marketing in this case would be successful.
The Reagans could take on a couple of sales positions. They could take a functional position where the relationship is limited and ongoing that develop when a buyer continues to purchase a product from a seller out of habit, as long as her needs are met.
They could also take on a Affiliative position, a relationships between buyer and seller based on friendship and trust, generally occurring when a buyer relies on a salesperson for expertise.
This can be done when the Reagans assist in setting up and taking down scaffolding. But ultimately the Reagans would invest in a strategic partnership in which both the buyer and seller commit time and money to expanding the “pie” for both parties, based on trust and mutual commitment. The Reagans could also use multiple sales strategies.
They could use the Needs-Satisfaction strategy which is the process of asking questions to identify a buyer’s problems and needs and then tailoring a sales pitch to satisfy those needs. They could implement the consultative selling strategy where they provide their expertise in using their equipment safely.
But in my opinion the Reagans would implement the Strategic Partner strategy where both parties invest resources and share their expertise with each other to create solutions that jointly grow one another’s businesses.
Tanner, J. & Raymond, M.A. (2019). Principles of Marketing. Boston, MA: Flat World
View the Ted Talk Video, How to Sell Without Selling your Soul (Links to an external site.) and provide a few brief comments with respect to its relevancy to this unit’s marketing concepts