Evaluate the key components of the product

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LO1 Understand elements of the product in a business and services context.

1.1 Evaluate the key components of the product
1.2 Discuss the range of contributions to sales and profit of elements in the product mix
1.3 Assess how market segmentation contributes to sales maximisation.

LO2 Understand external sales development techniques

2.1 discuss the factors affecting buyer behaviour.
2.2 assess appropriate advertising media for sales development situations.
2.3 evaluate the role of external merchandising in maximising customer volumes, making     recommendations for improvement.

LO3 Understand the tools and techniques of internal sales promotion and merchandising.

3.1 assess how design and layout might affect customer spend.
3.2 review and evaluate internal merchandising materials.
3.3 evaluate promotional activities for different scenarios, making recommendations for improvement

LO4 Be able to evaluate the role of staff in maximising sales.

4.1 evaluate personal selling techniques, making recommendations for improvement.
4.2 discuss the influence of operational design on sales revenue
4.3 justify key principles that should be included in a sales training programme

Topics covered:

characteristics, features/benefits, product strategy/mix, life cycle, development processes, test- marketing strategy (simulated and controlled), concept development and testing, unique selling points (USPs), branding
Market segmentation:
rationale for segmentation, methods of segmentation, recognising market needs, matching ‘offer’ to market segment, benefits and constraints of branding, theme developments
Buyer behaviour:
motivation theory, the purchase decision process, major characteristics affecting consumer behaviour.
media selection, costs, target markets, evaluating effectiveness, sales promotion.
External merchandising:
design aspects e.g location, access, car parking, signage.
Design and layout considerations:
Customer ergonomics (ease of access to product and point of sale), environment/ambience e.g heating, lighting, seating, noise, equipment.
Internal merchandising:
Internal signage, sales materials, electronic sales aids, matching materials to image created by external methods.
Sales promotions:
range of promotional activities; matching activities to market and business; seasonal opportunities; upselling.
Personal selling techniques:
non-verbal communication, up-selling opportunities, customer needs and wants, product knowledge, link between selling and service, encouraging repeat business.
Operational design:
ergonomics, workflow, equipment
incorporation of sales role, positive sales attitude, specific promotional training, incentives and rewards, preparation of sales training programme

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