Company and Product Selection Criteria Choosing an appropriate company and product/service is the first important step toward the completion of this project. Your selection must meet the following criteria: 1. Select a product or service that you have some personal interest in and perhaps some prior knowledge of. It could be related to a career or a recreational interest. 2. Take advantage of the opportunity to explore an industry or company that provides future career opportunities for you. 3. When selecting the company, major consideration should be given to accessibility and availability of vital information about the product, the industry and the competitors. 4. You must select a product/service currently sold in Canada by a larger well-established company. Note: To secure the company’s cooperation, please ensure confidentiality of all data received. 5. It must be a “business-to-business” selling situation (i.e. Kraft Foods selling to Loblaws). Retail or direct-to-consumer selling is not acceptable (i.e. cars, insurance, cell phones, You will use the information obtained in the interview to complete your written report and develop a sales presentation (role-play) for a “business-to-business” customer/prospect such as a retailer, wholesaler, industrial buyer or a not-for-profit organization. 6. Both the selling and the buying company must have offices in the GTA to facilitate your access to company contacts and research. 7. The following types of products and companies are unacceptable for this project: • vehicle manufacturers and dealerships • cell phone manufacturers and service providers • financial, investment and insurance services • beer, liquor and tobacco suppliers The format must be followed and numbered exactly as shown below. Start each section on a new page. DOUBLE SPACE all work. The report should be between 15-20 pages in length excluding appendices. If you’re not sure of the requirement for any section please ask for clarification. 1. (10%) Introduction (maximum 2 pages) and includes: a) overview of the industry in Canada b) overview of company c) vision, mission, goals of company 2. (20%) Company Background: includes: a) Approximate annual company sales in Canada b) Name the company’s major channels of distribution and name the major current customers in each channel. Use table format. c) Who do their customers sell to? (Describe the final consumers as a target market re: demographics and psychographics.) Use examples to illustrate this section. d) Describe the background and responsibilities of the salesperson you interviewed. Provide a job desсrіption. e) Describe the company’s sales recruitment and training practices, as well as, the compensation structure for sales people (base salary, bonus, commission, car, expenses, benefits etc.). 3. (10%) Major Competitors for your Main Product: a) Identify your main product. If your chosen company has a broad line of products, select one specific major product for the balance of your report and role-play (i.e. Kodak digital camera – modelD7500). b) Name the top five direct competitors. Which competing products/services do they sell? Describe the top competing product in detail. c) Current market share of all direct competitors. Use graphics. d) Identify any indirect competitors and explain the impact on your business if applicable. 4. (30%) Your Main Product a) A desсrіption of your product/service in detail. Provide pictures in your appendix. b) Its current positioning in the marketplace relative to competition. (refer to your Marketing text to review the definition). Use positioning map. c) Identify the specific pricing strategy used for this product and compare the price point with each of the top five competitors. Use table format. d) Table of five most important ″FABs″ for this one product/service. Do not use same benefit more than once. (See Selling text for examples) e) Now compare this table of ″FABs″ with either the market leader or the major competitor. Use table format. Identify if your company’s product has any major competitive advantages or distinguishing features. f) Four promotional strategies* (see text) used to sell to the BUSINESS buyers, incl: selling, advertising, sales promotions & public relations. How is each used by your company? g) Describe the “selling tools” or methods that are typically used by the salesperson to present the product to potential customers. (You should use these in your role-play.) 5. (10%) Buying Factors and Typical Objections a) What are the most important factors that business customers consider when they are buying this product from your company or its competitors? b) Identify the top three typical challenges or objections for this product based on your salesperson’s experience. c) Explain how he/she typically deals with the above objections. Be specific. d) What kind of preplanning does your salesperson typically do to prepare for a meeting with a new prospect?
