Search results
1 – 4 of 4John J. Evelyn and Neil J. DeCarlo
Florida Power & Light knew it had to transform the way it operated to remain competitive. The key was to understand changing customer needs and build those needs into its planning…
Janet L. Nixdorff and Theodore H. Rosen
As of 2007, there were an estimated 10.4 million businesses in the United States that were owned and operated by women. The number of women-owned firms has continued to grow at…
Abstract
As of 2007, there were an estimated 10.4 million businesses in the United States that were owned and operated by women. The number of women-owned firms has continued to grow at around twice the rate of all firms for the past two decades (Center for Women℉s Business Research, 2008). On the other hand, women comprise only 15.4 percent of corporate officers in Fortune 500 companies (Catalyst, 2007b) and, in 2003, held only 14.8 percent of board seats in the Fortune 500 (Catalyst, 2007a).To better understand the glass ceiling faced by both female entrepreneurs and women leaders, the research on women℉s issues is examined from a number of different vantage points. Women℉s entrepreneurship and women℉s leadership research on leadership, decision-making, and gender differences was examined to discover commonalities. Then female single-sex education literature was reviewed for insights on developmental issues that might influence future women entrepreneurs and leaders. In this exploration of research, it was found that both women entrepreneurs and women leaders in the corporate environment tend toward the same leadership styles and ways of interacting with others; they also experience a lack of role models and possible lack of self-efficacy.The literature on single-sex education provides observations that young women may thrive in environments in which there are fewer male competitors, hold less stereotyped views on gender, hold higher aspirations, may have greater opportunities for training of leadership skills, and may have increased self-confidence that may be the result of exposure to successful women role models. Implications for future research are explored and suggestions are provided to meet the needs of developing women entrepreneurs.
Annie Liu, Mark Leach and Richa Chugh
The purpose of this study is to develop a sales process framework to facilitate business-to-business (B2B) customer reacquisition. A comprehensive CRM process needs to include…
Abstract
Purpose
The purpose of this study is to develop a sales process framework to facilitate business-to-business (B2B) customer reacquisition. A comprehensive CRM process needs to include reacquisition strategies. Yet, very few firms have formal procedures to guide reacquisition efforts. This gap in the sales process reflects the relatively sparse literature on B2B customer reacquisition models. The present research intends to fill this gap and creates a sales process model to guide salespeople to regain B2B lost customers.
Design/methodology/approach
Using critical incident technique (CIT), this study conducted in-depth interviews with 54 B2B salespeople. Each salesperson reported one successful and one unsuccessful reacquisition incidents. A total of 108 critical incidents were collected for analysis.
Findings
A four-step sales process model to regain B2B customers was developed and empirically supported, including: Segment lost customers; Assess reasons for loss; Develop reacquisition activities; and Implement reacquisition strategies.
Research limitations/implications
This study is qualitative and exploratory in nature; future research should develop dyadic surveys to validate the results.
Practical implications
This four-step reacquisition process allows sales firms to identify essential elements and establish protocols/policies to train and motivate salespeople. The framework can facilitate salespeople develop problem-focused solutions to correctly diagnose the situation and effectively re-negotiate with defected customers. Thus, this process may help reduce inefficiency in the reacquisition process and increase reacquisition ratios.
Social implications
By considering justice/fairness from customer’s perspective, sales firm may properly recover lost business relationship, and do so in ways that are considered both just and ethical.
Originality/value
This is one of the first studies to examine the reacquisition of lost B2B customers. It expands on the traditional sales process to include four steps that enable a sales reacquisition process.
Details
Keywords
J.D. Williams, Robert Everett and Elizabeth Rogol
This paper aims to investigate whether this savored relationship goal within business‐to‐business selling will survive through this century's formidable stumbling blocks. The…
Abstract
Purpose
This paper aims to investigate whether this savored relationship goal within business‐to‐business selling will survive through this century's formidable stumbling blocks. The fundamental question may very well be, if not the present sales model(s) then is it time to formulate a new sales models?
Design/methodology/approach
The research examines the relevant sales challenge elements and sales beneficial factors as components of a new sales return on investment (ROI) model. This has generated a series of subordinate research objectives, which attempt to rationalize the contribution and weighted value of each of the modeled elements. The use of secondary research reveals a consistent thread of relationship‐selling challenges for sales teams.
Findings
Client management and sales are key functions in most organizations, and companies are increasingly realizing the importance of preserving and developing relationships with their existing clients, in addition to developing new clients. The challenge is to manage customers strategically, by constantly expanding the scope of the offering and the strength of the impact on the customer's business performance. Achieving differentiation with strategic customers requires new buyer‐seller relationship strategies that assist customers in implementing their own strategies. The capability to manage strategic customer relationships as the most critical assets in the business remains elusive.
Research limitations/implications
Effective salesperson follow‐up would logically include specific components designed to interact, connect, know, and relate with their customers: interact – the sales person acts to maximize the number of critical encounters; connect – the salesperson maintains contact with the multiple individuals in the buying; know – the salesperson coordinates and interprets the information gathered; relate – the salesperson applies relevant understanding and insight to create value‐added interactions.
Practical implications
The contribution of this paper have been directored towards offering sales and marketing organizations the foundational elements of a grass‐roots ROI modeling technique to apply towards their respective sales endeavors. This author believes that successful implementation of these key factors should enable sales teams and their sale management to achieve their respective institutional sales, client, and growth targets.
Originality/value
This paper adds to the subject knowledge of sales and sales techniques by creating new sales models, which address the twenty‐first century marketing environment challenges.
Details