MARKETING 362 SALES COMPETITION PROJECT

1. MARKETING 362 SALES COMPETITION PROJECT Project Overview with Duane Weaver

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

3. Dates and Deadlines • First Seminar (Completed by Feb. 3) • Solidify teams (acquire contact information from each other and plan coordination efforts) • Identify Sales Manager and advise instructor • Second Seminar (Feb. 6) • 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 • Monday Feb. 13 from 1 PM to 2:20pm. • Sales Manager’s meeting at 12:30 PM B250, R402 (ALL SALES MANAGERS AND OBSERVERS must attend) • Acquire product at 12:55 PM • Distribute product from 13:00 to 14:20PM • Submit sales results before 14:25PM (cut-off)(Late penalty: 10% deduction per 5 minutes late up to 15 minutes then 0%) • Personal Report • One page due March 3th before the start of class.

4. Competition Rules • All product must be sold between 13:00 and 14:20 • All sales must occur “on campus” only. • Teams may not sell to their own team members. • Cut off is at 14:20 PM (all revenues must be collected and recorded and handed-in by 14:25 PM sharp)(late penalty: 10% deduction per 5 minutes late up to 15 minutes then 0%) • University Ethics must be observed at all times

5. 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

6. 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%)

7. 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%

8. 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. 1 seminar)

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

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

11. 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

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