Marketing research report

Marketingresearch report

Salesand marketing is a combination of skill and knowledge which leads tothe success and growth of any business. Selling involvesinterpersonal interaction through phone calls, holding meetings andnetworking of produced goods to reach more customers throughintelligent salespeople and diligent sales managers (Morrison,2013).

Objectives

Todetermine the importance of business organizations making phone callsto salespeople and managers.

Tofind out the challenges which sales companies undergo when sellingtheir produced goods.

Findout the past and present experience of Tiffany sales estate managersand salespeople.

Historyof Tiffany sales estate

Tiffanyestate was founded in 1837 by Charles Tiffany and Young John. Theywere supported by their father with capital. It is located inBroadway which is opposite Manhattan Hall Park. They mainly soldstationery and new fancy jewelry costume which were in variety. Afterdoing their business close to a decade they later changed to cashpayment. This was contrary to their past in which customers wouldtake goods on credit. In 1841 they partnered with Ellis who led themto discontinue costume jewelry and then started selling the moststationery line and real jewelry (Morrison,2013).

Throughthe capital provided by their new partner Ellis, Young was able totravel to Paris for more investment. They are the ones who startedselling sterling silver in the United States. Tiffany’s pride grewwhen they won the world gold medal as the best producers of jewelryin 1878. Tiffany used to make high profits and gained high dividendsbetween 1919 to late 1920’s. The Company had perspectives which itwanted to achieve by expanding selectively its distribution channelsin those important markets in the world. To achieve this, they did itwithout any compromise. This was to enable them achieve maximumprofit and increase their product supply.

Virtuallyall the products sold by Tiffany were designed by their staff. Also,when they introduced sterling jewelry to the United States theirstaff members were responsible for designing them. It had a majorsetback in the year 1992 when their profit making dropped drasticallyby almost thirty-five percent. The Japanese who were their mainconsumers backtracked and cut their spending. Curbed spending alsoaffected the company during its recession period.

SalespersonReason to Visit the Retail

Thesalesperson needs to visit the retail as often as possible. This willenable the goods which had been manufactured with the intention ofsale to be transported to their required destination. These aremainly those people who are interested in selling of such items likeclothing, automobiles and furniture. They mostly work in stores welllit and clean. The time they mostly work is in the evening and earlymorning. Some work during weekends. The employed salespeople aresupposed to visit retail premises often and should work close withsales managers (Morrison,2013).

Theemployment of salespeople is intended to grow by almost seven percentin the next few years. When one aspires to become a salesperson,there is formal education one is needed to undergo. This educationaltraining usually takes a few days or can last for a few months.

MakingTelephone Calls

Advertisinggoods on notice boards are inexpensive but it has less impact on thepeople reached. When using telephone advertisement, the message isstandardized and communication flows in one way. This seems to beexpensive but the impact achieved through this method is high. Theflow of communication is tailored mainly to the individual customerand falls in both directions. This eliminates unnecessary expense andtime of travel. This is more direct than other media devices whichare more expensive and usually have less impact on the customer theyare targeting.

SellingProcess

Actualsales mainly consists five steps: opening relationship, prospectqualification, message presentation, sale closure and accountservicing.

Opening

Duringopening the decision is to find the right person to run theorganization. The initial approach helps in generating interest whichis enough to obtain necessary information for qualification. Theappointment of an enthusiastic and appropriate person will lead to agood end result.

Qualification

Thisis the process of determining which salesperson is worth enough to behanded the business organization. The chosen personnel should be ofhigh diligence to be able to run the business as a salesperson. Thesales people are usually appointed by sales managers.

Closing

Thisis involved with an agreement which is final to purchase. Itunderlines the way to being successful.

Accountservicing

Thiscomes after sales have been done. Always the salesperson is given theduty of reselling materials, supplies and parts. When servicing isdone it signifies the beginning of new sales.

TiffanyEstate Company usually practices team selling which is undermined byseveral challenges.

Thismode is usually small, repetitive and simple. It is not alwaysappropriate. Team approach is most effective when handling heavycapital and formal contracts or commitments which are informal.

Salesteam take more time to get coordinated than doing their duty ofselling. They can also create bad impressions to the customers whoare the main buyers.

Teamselling stresses mostly the importance of having customer needs beingsatisfied by extending the concept of marketing to all relevant unitswhich are functional (Morrison,2013).

Pastwork Experience

Exposureto health risks is common due to the recession of Hurricane Sandy.Organizations have come up with the fact that they are now operatingwhere the environment is more globalized. The prices of commodityvariation are unseen due to commodity volatility. The sales companyis facing sustained ethics rot which is a challenge in procurementprocess.

Socialmedia dynamics is fundamentally giving a challenge to procurementoperation. This is due to the increase of media technology whichinteracts with many people around the world. This has made aninstantaneous dawn to business.

PresentExperience

Mostbuyers have been having challenges in securing enough budgets whichare common to smaller business organizations. Many marketers in theregion know that getting a bigger budget is hard. The website hasbecome the interaction place for many buyers and sellers. Managers ofthese companies should manage them well to serve the requiredpersonnel (Morrison,2013).

Recommendation

Socialmedia services should be well managed to avoid any destruction toother people’s business organization. This is because many havetaken their advertisement on social media such as Face book, Twitterand Instagram which are the major interaction sites. Provide lawguiding on the minimum budget required for one to start a business inorder to avoid many cases of other organizations running bankrupt.

Conclusion

Tiffanyestate sales have the ability to continue being the best in sterlingjewelry delivery across the world. This will be achieved if themanagement of the organization has qualified salespersons, salesmanagers and the board of directors.

Reference

Morrison,A. M. (2013). Marketingand managing tourism destinations.