MARKETING 362 SALES COMPETITION PROJECT Project Overview with Duane Weaver

OUTLINE Dates and Deadlines Rules Evaluation and Awards Logistics Team Considerations (Strategy) Figure 4.1 and 4.2 (value strategy) Solidify Teams

Dates and Deadlines First Seminar (Completed by Feb. 1) –Solidify teams (acquire contact information from each other and plan coordination efforts) –Identify Sales Manager and advise instructor Second Seminar (Feb. 3) –Develop Sales Value-Add Strategies (Fig. 4.1 and 4.2) –Hand in Fig. 4.1 and 4.2 (one per team) Sales Competition Day –Tuesday Feb. 8 from 8:30 AM to 9:50 AM. –Sales Manager’s meeting at 7:55 AM B250, R402 (ALL SALES MANAGERS AND OBSERVERS must attend) –Acquire product at 8:25 AM –Distribute product from 8:30 AM to 9:50 AM –Submit sales results before 9:55 AM (cut-off) (Late penalty: 10% deduction per 5 minutes late up to 15 minutes then 0%) Personal Report –One page due March 1st before the start of class.

Competition Rules All product must be sold between 8:30 AM and 9:50 AM All sales must occur “on campus” only. Teams may not sell to their own team members. Cut off is at 9:50 PM (all revenues must be collected and recorded and handed-in by 9:55 AM sharp) (late penalty: 10% deduction per 5 minutes late up to 15 minutes then 0%) University Ethics must be observed at all times

Evaluation and Awards Top Sales Team –Highest NET sales (Total revenues less costs) –Observers confirm all rules are satisfied Best Teamwork –1/4 weighting on sales achievement, 1/4 weighting on sales manager assessment (team) and 1/2 weighting on observer evaluation

Evaluation and Awards Project Grade (max. 100%): –Team Score Teamwork Score plus Team Sales ranking: –15% for Top Sales –12% for Second –10% for Third –8% for Fourth –6% for Fifth –4% for Fifth –3% for Sixth –2% for Seventh –0% for Eighth + –Personal Grade Your Personal Written Report ( 5%) Team Score (75%) Weight Factor (20%) based on Peer Evaluation (10 weights for each team member per team, to be distributed as you see appropriate to a maximum grade of 110%)

PERSONAL EVALUATION SUMMARY The Teamwork Score is graded by the observer, the team’s assessment of the sales manager, and the team’s sales achievement with a bonus for position placement Personal score is your Team score plus your weighting by peer evaluation and your one page personal report: –Personal Report = 5 –Team score = 75 –Weighting = 20 –TOTAL= 100% (possible 110%) Example: –My team comes third in sales, –We receive a Team Score of 75% with a bonus of 10%....therefore our final team score is 82.5% –my team mates award me 100/120 weights –My personal report grade = 80% My final grade= 82.5*75% plus 83.3*20% plus 80%*5% = 82%

Logistics to consider Sales Mangers and Observers meet at 7:55AM Picking up product at 8:25 AM Distributing product to location Collecting and recording sales Reporting Sales results before 9:50 a.m. and handing in revenues earned

TEAM CONSIDERATIONS - strategy PLACE (location) PRICE (high profit/value added/lower volume vs. low price/high volume…etc.) PROMOTION (method of attracting sales – your strategy) PRODUCT – a consumable (all receive the same volume of the same product within the same time frame – product to be announced at the Feb. 3 seminar)

Value Strategy There are two challenges with this competition: 1.The use of sales skills to sell a similar product at similar time 2.The ability to add value to your like product within a time-limited “one time” sale (short term focused selling)

Value Strategy Your teams need to develop Figures 4.1 and 4.2 together and hand-in next seminar.

SOLIDIFY TEAMS Get together in your teams and: –Obtain contact information from each other –Develop coordination plan –Develop Value Add strategy –Discuss Logistics –Discuss the 4Ps and your approach

MARKETING 362 SALES COMPETITION PROJECT See you next class. THANK YOU Have a Great Day!