Company Analysis
Mediquip S.A., a subsidiary of Technologie Universelle, is a manufacturer of CT scanners, X-Rays, ultrasonic, and nuclear diagnostic equipment. Their competitors consist of other European companies such as Sigma FNC, Eldora, Magna, and Piper. Even though Mediquip is a fairly new player in the medical equipment market compared to their competitors, they hold a global reputation for having advanced technology and proficient after sales service. Mediquip 's sales organization consisted of eight country sales subsidiaries, each headed by a managing director. Within each of these areas sales engineers reported to their regional sales managers, who are responsible for reporting to the regional managing director.
Product
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Thaldorf had trouble creating a sufficient relationship with most of the members of the buying center, and used the inappropriate methods for trying to make a sale, and not meeting the customer 's needs.
Alternatives
1. Perform a product demonstration by inviting prospected buyers for a tour of the facilities.
+ Customers become better acquainted and more knowledgeable about the product.
+ Easier for customers to evaluate and reach their final decisions.
+ Possibilities of selling product at desired selling price if the customers have the opportunity to experience the product.
- Time and cost consuming.
2. Better presentation method and explanation of the product.
+ Customers have better understanding of quality, benefits, and cost of the product by showing the value of the product.
+ Improve communication by engaging in discussions or question/answer session in order to build a concrete relationship.
- Time consuming
3. Prepare more appropriate sales personnel with proper selling strategy for the deal.
+ Effective selling - when more qualified sales personnel involved, better ideas and on how to approach prospects are expected.
- Training, labor and administrative cost.
4. Create customized cost/benefit analysis.
+ Better opportunity of acquiring a deal by asking a reasonable price.
+ Obtain value driven profit.
- Requires more time to prepare the formal proposal.
- Requires the buyer 's cooperation in
Allows for an improvement and concentration of sales-force efforts due to having more time focused on the retained dealers.
Customers want quality goods for low prices, they basically want to feel like they got more than their moneys worth
These transformative changes to the selling environment are ultimately forcing the salesperson to reengineer and rethink how they approach their business accounts. Failure in adapting to these changes can result in many adverse situations but ultimately revolves around ineffective team selling.
the psychological meaning of a product to customers. On the other hand, cost is related
3. Hiring a salesperson is more attractive than increasing support staff in regards to revenue generated.
This will help the company to deliver product and services that satisfy customers, hence increasing profitability.
The seller must make the desiring advantages into an existing merchandise with features and attributes that will supply the designed fulfillment of a greater quality than competitive products. But benefits and features are different. Features are the material or non material attributes given the product by its designer. Benefits are the successful dealing to the costumer problems of needs given by the product according to Boyd, Walker, Mullins & Larrénché in Marketing Management, 5th Edition (2005). “Standardization protects buyers, saves their time and energy on the selection of goods, provides for economies in buying, reduces fraud and mispresentation of goods and helps to educate buyers”. (Shirley I. Mendoza, 2003). “The essence of marketing is in developing products such as a new technologically advanced adhesive to meet buyers’ needs. A product is a good service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is receiving in exchange for money or some other unit of value, tangible attributes include physical characteristics such as color or sweetness, and intangible attributes includes becoming healthier. Hence, a product includes the breakfast cereal you eat, the accountant who fills
Offer a competitive price range that is below the current market price, while offering high marginal quality and customer service.
crucial part of the overall value proposition. Analyze and explain in detail the value that
The benefits the company will receive include sustainable profit growth, increase market penetration and improvement of your brand’s reputation.
Boosting the value of product and services: Higher benefits to the consumer product flexibility modularity and functionality. Focus on buyers needs by providing additional services such as upgrade or exchange (Stigson B 2000):
Every company needs to increase its sales efforts if it wants to continue to be business, this considered as a primary objective of a promotion for any business.
2)Companies get to be imaginative in finding new items to offer or produce and less costly approaches to achieve their objectives.
Sales are the lifeblood of a business, without sales there would be no business in the first place; therefore it is very important that if a business wants to succeed, it should have a sales promotion strategy in mind. The primary objective of a sales promotion is to improve a company's sales by predicting and modifying your target customer's purchasing behavior and patterns. Sales promotion is very important as it not only helps to boost sales but it also helps a business to draw new customers while at the same time retaining older ones. There are a variety of sales promotional strategies that a business can use to increase their sales, however it is important that we first understand what a sales promotion