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Topic : Accelerating sales in a slow economy
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BattleGround for Sales Professionals

 
Started by : Dharmena Prajapati, Sales/BD Manager, Wipro   12 04 2009 12:59:31 +0000
Industry : IT ProductsFunctional Area : Strategy Execution(Strategy & Execution)
Activity:  66 views;  last activity : 07 06 2010 20:18:09 +0000

The economy behaves in rise and slowdown market conditions, and with it so the sales revenues for the business across many industries. From the past behavior of the economy and lessons learned from the market, What precautions should be made in performing sales in a down economy? Share your views...

 
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1 2 3 4 5
1 Concept Selling
2 Be aware of the buying patterns
3 Strategy to sell in a new market
4 Focus on selective Customers.
5 Extend the customer relationship

Concept Selling

idea posted by Anirudh R Menon Manager - Global Software Sales

selling a concept based on which IT companies can consult and develop has worked out well especially in the matured markets

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Be aware of the buying patterns

idea posted by Dharmena Prajapati Sales/BD Manager, Wipro

In my view, for a sales we should be aware of how buying patterns change in the down market. The buyers change with the changing economic condition of the country. When the economy is weak people will decrease their buying habit and also their spendings. So as a salesperson one should be able to handle such buyers where buying decision is always fickle.

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Strategy to sell in a new market

idea posted by Mohit Aggarwal Sales/BD Manager, Oracle

When there is a weak market, we should extend our marketing location and get our reps to sell outside their “comfort zones.” this will be quite difficult unless a strategy or a training program in taken.

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Focus on selective Customers.

idea posted by Arup Chakraborty Managing Consultant

Due to the slow economy every one just has one Mantra for success and that is 'More for Less' and top it with a multi-Vendor/Supplier scenario as most preferred way of running business. In view of this every supplier should focus on Key Accounts, and provide products/services packaged according to the Customer's need with quality/services best in the segment. This not only ensures regular Business, but also provide an option to get the largest share in a multi-Vendor scenario.  

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Extend the customer relationship

idea posted by Ramdas Pawar Sales/BD Manager, Flex

I agree to the above idea. When there is change in customers habits, the sales must aim to get more out of the customer relationships we already have. This could be done through good customer handling and customer retention.

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