SCBMA2_ Week 4 2025

Eduvos Overview

• Institution: Eduvos

• Program: Biopharmaceutical Sales & Marketing

• Course Code: SCBMA2

Important Notices

• Disclaimer: Content on myLMS may differ from lecturer-led sessions. Students must consult material on myLMS, prescribed textbooks, and designated resources prior to assessments.

Flipped Classroom Approach

• Preparation: Students will revise recommended concepts in myLMS before lecturer-led sessions.

• Self-Study: Engage with myLMS content; complete practice activities; prepare questions for the lecturer.

• Active Learning: In-class sessions focus on engagement, debates, and technical practice rather than traditional lectures.

• Higher-Order Thinking: Activities designed to encourage deeper engagement with material.

Market Characteristics

• Sizable Market: Significant potential for growth.

• Growing Opportunity: Market is expanding without overwhelming competition.

• Prominence: Ability to stand out in the market.

• Accessibility: Resources must align with firm’s mission and objectives.

Sales Relationships Overview

• Topics covered in upcoming sessions:

  • Types of Sales Relationships

  • Evolution of Selling Strategies

  • Evolution of Partnering

  • Business Buying Behavior

  • Business Ethics

Types of Sales Relationships

Transactional Relationships

• Focus on price and convenience.

• Minimal engagement with customers:

  • No assessments or problem-solving.

  • Usage of e-commerce has decreased popularity of this method.

Personal / Functional Relationships

• Investment in customer retention through:

  • Objective decision-making.

  • Major promotional methods.

  • Spending measured as a percentage of sales.

Affiliative Relationships

• Trends emerged in the late 1960s to 1970s.

• Emphasizes:

  • Needs identification via effective communication.

  • Salespersons acting as consultants.

  • Solutions defined through understanding customer problems.

• Features:

  • Two-way communication to identify needs.

  • Emphasis on service throughout the sales process.

Strategic Relationships

• Trends of the 1980s highlighted:

  • Increased global competition.

  • Diverse product lines.

  • More decision-makers involved in purchasing decisions.

Types of Selling

• Need-Based Selling: Aligns offerings with identified needs.

• Needs-Satisfaction Selling: Focuses on fulfilling customer wants.

• Consultative Selling: Engages through dialogue to discern specific needs.

• Strategic-Partner Selling: Forms long-term relationships based on mutual benefits.

Strategic Planning in Sales

• Importance of connecting firm resources to market opportunities, influenced by marketplace complexities.

• Necessity for pre-sale strategy formulation.

Adaptive Selling

• Key for effective problem-solving.

• Alter sales behavior during interactions to improve customer communication.

Partnering in Sales

• Long-term strategies aimed at solving customer problems.

• Evolutions noted in partnerships from the 1990s to 2000s to enhance flexibility in offerings.

Value-Added Selling

• Series of enhancements during the sales process to provide a superior customer experience.

• Identifying specific examples of value-added selling is essential.

Understanding Buying Behavior

• Influencing Factors:

  • Environmental, marketing, situational, personal, and psychological factors.

  • Family and cultural dynamics impacting purchasing decisions.

Ethics in Selling

• Importance of moral principles guiding business conduct.

• Ethical guidelines are shaped by individual values, company policies, and societal norms.

  • Common ethical dilemmas in selling practices include short-term gain temptations.

Factors Influencing Ethics

• Role models: Top management and sales managers influence ethical standards.

• Building trust is critical for establishing relationships across sales methods.

Global Economy Influences

• Cultural Issues: Understanding diverse cultural backgrounds mitigates communication barriers.

• Legal Issues: Awareness of bribery and corruption is crucial in various regions.

Character and Integrity in Sales

• No uniform code of ethics exists, yet maintaining personal standards is vital.

• Building relationships should prioritize honesty and integrity.

Final Review

• Discussion Forum: Engage in discussions around emotional intelligence and ethical practices.

• Next Steps: Prepare for week 5 by reviewing lessons and completing pre-class activities.