Sales Techniques Review

SALES TECHNIQUES

Market Analysis

• Purpose of Market Analysis: It is essential for understanding the business environment, predicting evolutions, and assessing risks associated with the market.

• Types of Intelligence:

  • Commercial Intelligence: Focuses on market understanding, trends, and customer motivations.

  • Competitive Intelligence: Analyzes direct competitors to assess their strategies and market positioning.

  • Macroeconomic Intelligence: Considers broader economic factors affecting the market.

Components of Marketing Approach

• Customer-Centric Focus: The process revolves around understanding customer demand and behaviors.

• Current Supply Analysis: Involves evaluating direct and indirect competition and the macroeconomic environment through the PESTEL tool:

  • Political, Economic, Sociocultural, Technological, Environmental, Legal factors.

Commercial Intelligence

• Purpose: Helps track market trends and customer expectations; monitors behavioral changes to foresee market evolutions.

• Tools for Intelligence Gathering:

  • Databases: INSEE for demographics and statistical data.

  • Press and Networks: Utilizing specialized media, networking with professionals like lawyers and accountants.

• Example: Analyzing Lingerie Market through demographic statistics (e.g., average ages of women wearing bras).

Competitive Intelligence

• Objective: Evaluating competition to gain insights into their strengths, weaknesses, strategies, and product offerings.

• Tools:

  • Analysis of competitors' online presence and financial records.

  • Field surveys to gather data on price, satisfaction, and sales methodologies.

• Example: Gathering data on the Lingerie market, such as trends and statistics leading to market evolution.

Macroeconomic Environment

• Importance: Monitoring the macroeconomic conditions can significantly influence business success or failure.

• PESTEL Analysis:

  • Political: Political stability, monetary policies, regulations.

  • Economic: Trends in income, GDP, unemployment, purchasing power.

  • Sociocultural: Social trends, education, demographics.

  • Technological: Innovations, R&D, tech infrastructure.

  • Environmental: Climate change, environmental regulations.

  • Legal: Labor laws, market regulations.

• Example: Understanding the 'no bra' trend due to COVID-19 implications on the market.

SWOT Analysis

• Definition: A strategic tool for assessing a business's internal strengths and weaknesses and external opportunities and threats.

• Strengths: Internal assets like an established brand, technological expertise.

• Weaknesses: Internal challenges like limited capital and high turnover rates.

• Opportunities: External possibilities for growth, such as market gaps and changing consumer behavior.

• Threats: External challenges, including competitive pressures or supply chain issues.

Trade Area Analysis

• Definition: The geographical area surrounding a business that can reasonably capture customers.

• Types of Trade Areas:

  • Primary: Direct competition area with high customer attraction.

  • Secondary: Areas drawn by specific service or product attributes.

  • Tertiary: Areas where customers may visit occasionally during transit.

• Isochrone Trade Area: Calculated based on travel times.

• Isometric Trade Area: Calculated using distance.

Virtual Trade Area

• Scope: E-commerce platforms can extend the reach to a global catchment area but require strategic monitoring of various factors to remain effective.