Showing posts from 2017

Does the Product Value Lie Inside your Product? | Value Selling

It is assumed that the value perception of a product lies in the product features, workmanship etc. which is proved otherwise in this example.
Recently I was conducting training programs for the Pan-India Sales Team of  Bharat Fritz Werner (BFW). The topic was Effective Value Selling of Capital Equipments. BFW is a renowned manufacturer of Machining Centres, Special Purpose Machines, Turning Cenres, Lathes etc. Murali, one of the Sales Engineers who is an expert in lathes for the last 15 years; narrated an interesting example. While working for Batliboi, his previous company, he used to approach a company called Priyanka Enterprises in Coimbatore. Mr. Ulaganathan who used to make automobile components had upgraded from a normal lathe to a CNC lathe so as to cope with the increased volumes. A sales engineer from a CNC Turninng Company convinced him to go for one. By his misfortune, the  new machine failed to deliver as per his expectations and Ulaganathan was repenting for having inve…

Games Customers Play to Extract Maximum Discount

Who is the Managing Director?

Suresh, narrated this interesting episode when he was the Sales-cum-Service engineer working for a  Special Purpose Machine (SPM) manufacturing company in Bangalore. There was an important proposal submitted to a client in Delhi. The vendor from Bangalore did not have any market presence in North India and consequently no sales setup. The customer called the vendor for price negotiations. Suresh was sent to Delhi to close the order.

He landed at the factory and enquired for the concerned Purchase Officer at the reception. It was around 9.30 AM. He was asked to wait in the conference room. Ten minutes later, a man in his early fifties dropped in the cabin.
After exchanging pleasantries, he said, "Tell me, what is the best discount you can offer?"
Suresh: "Sir, the best I can offer is 5%."
Man: " Ok, I will talk to my MD and come back to you. He is a busy man. You may have to wait."
After 2 hours, at around 11 AM, the same man …

The Flip Side of Google Search

Rahul, a fresh engineering graduate, was trying his hands at rubik’s cube. He said,” after doing google search and watching youtube videos, I have been able to crack the code. The world’s fastest player can solve the puzzle in barely a minute. I have studied his instruction set 15 times and I am able to crack the code in approximately 4 minutes.” What happens when you a solve a puzzle without applying your mind; relying on google search or a guide in the first go?

In this process of solving a puzzle, I was wondering whether the goal is more important than the journey or the end is more crucial than the means? What happens when we are obsessed with the goal (scoring marks, getting a job, expecting a promotion) without giving due importance to the means ( thinking, creative problem solving, putting the right efforts in getting results etc) Students may score marks without a deeper understanding of the subject. Managers may get short-term results by taking short cuts (quite relevant for …

The Application of Buddha’s Four Noble Truths in daily life.

The Buddha teaches us that if we perform one task at a time with complete awareness,  it could lead us from confusion to enlightenment,  writes RAJAN PARULEKAR       1. Truth of suffering  2. Truth of the origin of suffering  3. Truth of the goal  4. Truth of the path to the goal The first sermon the Buddha delivered after his enlightenment was on the Four Noble Truths.  Quite often it is felt that the Buddha was pessimistic, and that he was against the good things in life when he uttered the first noble truth — life is dukkha — suffering. It is not so. Suffering can be interpreted in terms of day-to-day anxieties and irritations. When we are all by ourselves,  the thought that something is missing, and the feeling that we are not our ideal self, and all the current problems start troubling us.  Actually,  we don’t think.  These thoughts surface by default, without our choice. These random thoughts include the pain of earning a living,  keeping near and dear ones happy,  job uncertai…

Why market pulse is more critical than a superior product design?

In the early 90s Airbus and Boeing, the two major players in commercial aircrafts decided to come together to manufacture Very Large Commercial Transport (VLCT). Later on both the competitors parted ways as their business strategy could not synergize. Ultimately in 1994 Airbus decided to go solo on this venture and the project was codenamed A3XX. And thus the first flight of A380, the largest commercial aircraft happened in 2007 which is a double-deck, wide body 4-engine aircraft with 6000 square feet of usable space, 40% more space than its nearest rival product Boeing B747-8. A380 could accommodate 500 seats in 3-class capacity (Economy, Business and First Class) or 850 in an all-economy class.

With several delays the project cost escalated from the initial 9 billion to 13 billion Euros.
Product Pricing and Positioning: The A380 had a seating capacity which was 5 times the Airbus A320 Neo but the price point was 4X . The List price of A 380 was $430 Million whereas A320 …

Enhance Profitability by Managing Outstanding Collections

Most of the salespeople feel that their job responsibility is limited to achieving the targeted order bookings.  In a desperate bid to sell, quite often they agree for ridiculous credit terms set by the customer.  However from an organizational perspective, a sales transaction is never complete unless the vendor has received the FULL  payment for the products/services he has supplied;  and which has been duly  credited to his account. Having the money in bank is more critical than having it on paper! The webinar will provide you a comprehensive tool kit in not only improving the cash-flow but also your profitability. For Whom : The program is useful for Executives and Managers from Sales & Finance who are in B2B/B2C, Industrial products, Financial Services, and from Verticals like: Engineering, Financial Services, Hospitality, IT, Insurance, Logistics, Pharma, Telecom etc. Main Themes :  Major Themes: Effect of late collections and its impact on Cash Flow and ProfitabilityWhat needs…

Stress Management & Work-Life Balance Training in India

Cigna Health Insurance recently carried out a survey based on 3021 respondents from metro and non-metros. It shows that 62% of employees are battling with stress with more women than men fighting with it. Stress is the silent killer of the 21st century. The 2 day program shows how to manage stress in a highly demanding work place as well as at home and a road‐map towards a healthy work-life balance. One day training program On Stress Management & Work-Life Balance Main Themes :  Major Topics: · Gen Y: How high aspirations in a short-time span leads to burnout and anxiety.Managing computer / social media related stress.The Stress Response Origin and the RelevanceMyths about Stress: How Elimination, Perfectionism lead to more stressImpact of Stress on Mind and BodyWhy Type A personalities create stress not only for themselves but also to othersStress Management Techniques: - Relaxation, Creative Visualization, Deep Breathing, Music TherapyDifference between pleasure and happinessWhen a…

Creative Way of Getting into a Competition Account

Ratan was working in Marriott Chennai and received the information that Vice President of OfficeTiger USA was put up in Hotel Park, his competitor. The VP was staying with his wife and 4-year old daughter and was to stay in that hotel for six months. Apart from him, there was a possibility of a number of his executives from US visiting India. How did Ratan managed to move the customer from The Park to the Marriott? One day Ratan brought a cute soft-toy for the kid and got it delivered through the front-desk. He also managed to get the birthday details of the kid. Ratan approached his management and asked whether it is alright to host a small party for the kid staying with her parents in a competitor’s hotel. After receiving the approval, he arranged the party and also invited some of his in-house guests in Marriott. What would happen to a mother if she receives a message that a birthday party has been organized for her daughter (with no strings attached) in another hotel? The family …

Best Sales & Marketing Book Which Can Help To Improve Your Sales

Contextual Selling – A New Sales Paradigm for the 21st Century, a Sales Book authored by Rajan Parulekar is written for sales professionals who are into sales of B2B, High-ValueIndustrial/Projects/IT/Services. It is also recommended for entrepreneurs from SMEs, start-ups who wish to develop a Winning Sales Strategy.

The Sales Book covers the entire value-selling process starting from Prospecting, Objection Handling, Negotiation, Key Account Management to Order Closing. Financial acumen essential in achieving the desired Top-Line ( Revenue) and Bottom-Line ( Profitability) makes the book practical . Written in a simple and easy-to-understand style, it is for those who feel their top-end products and services deserve a premium! What do buyers say about the book! The 313 pages Sales Book is available in print version (Company WebsiteAmazon and Flipkart) and e-book format ( Amazon). Read more for Contents…

Ground-rules for Implementing Key Account Management

The ground rules for implementing Key Account Management :
Needs a Different Mindset: Successful Companies who have implemented Key Account Management look at it as a Strategic way of doing business and not a sales activity. You need to have commitment to work with priority customers differently. For example Supply Chain management can be an integral part of Key Account ManagementCommitment from Top Management: It cannot happen at the Sales Manager’s level. The buy-in has to be at the CEO, CMO, VP-Sales level. The sr. people should sponsor at least 1-2 such accounts and interact/visit them regularly.Select the Right Person: Maturity is the most important attribute while selecting the Key Account Manager. It is not necessary that your top-performing salesman can become a good Key account Manager. He has to be more of a generalist with good understanding of finance, inventory, planning, influencing skills and the ability to see the big picture. A typical salesperson who is desperate to c…