strategic selling research-ge healthcare
Post on 13-Nov-2014
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Presented by:
GROUP 11
Kaushik Gopal Bhattacharya (7082)
Marimuthu P. (7088)
Ramanujan A.S. (7098)
Sonika Sharma (7106)
Sumit Kumar Jangid (7113)
Introduction about GE Healthcare Product categories Organization structure of GE Healthcare Strategic Accounts (specific chosen for discussion)
Sales cycle – steps involved Processes and People (covers in depth the step by step approach,
people involved in buying cycle & their roles, decision makers, objection handling, sales closing, payment terms and post sales service aspects)
Responsibilities of Key Account Managers Challenges for a Sales person
2GROUP 5 - GE Healthcare
GE Healthcare - a joint venture between GE and Wipro Corporation.
Headquartered in the United Kingdom $17 billion unit of GE Its business activities include:
Design and manufacture of ultrasound scanners, cardiology products like ECG and fetal monitors
Sales and service of the full line of medical imaging and IT products Software services and technology solutions for GE Healthcare products,
parts and service logistics Specializing in the design, sourcing and manufacture of diagnostic
imaging systems like X-ray, CT and MRI
3GROUP 5 - GE Healthcare
http://www.gehealthcare.com/usen/products.html
4GROUP 5 - GE Healthcare
5GROUP 5 - GE Healthcare
Selling to Private institutions Escorts Heart Institute Apollo hospitals Pvt. Ltd. Eco Diagnostics Pvt. Ltd. (contributes over 40% of revenues
in the Eastern zone in India)
Tata Memorial Hospital Kothari Hospital
Selling to Government institutions
6GROUP 5 - GE Healthcare
7GROUP 5 - GE Healthcare
Buying situations for the Customers of GE Healthcare are of two categories – Modified Rebuy New Task
Buying Process discussed with respect to MRI machine worth Rs.2 to 3 Crores
Sales cycle lasts around 1 ½ to 2 months
8GROUP 5 - GE Healthcare
Problem recognition: The Sales Executive identifies customer with help of Key
Accounts Manager Meets Technical Dept. mainly Radiology Dept.(User and
Technical buyers)Requirement/ Needs – Convenience, More Information
that the machine can generate to make work easier.Sales person recognizes the need along with technical
requirements Relationship plays a dominant role here getting information
9GROUP 5 - GE Healthcare
General Need Description & Product Specification: Meeting with Director of the Hospital (Economic buyer)
Cost of the machineBreak even pointEfficiency of the machine
Discuss the need based on the information obtained from Radiology dept.
Relate the need with the FAB of the Instrument that satisfies the issue/need
10GROUP 5 - GE Healthcare
Supplier Search: Competitors (like Philips, Siemens) also pitches for their
product Director discuss the requirement with his/her team Team comprises of-
Radiology Dept. HeadBio-Medical Engineers IT Dept.Finance Dept.Legal Dept.
11GROUP 5 - GE Healthcare
Proposal Solicitation & Supplier selection: Sales Reps. make 4-5 calls/visits from the day of meeting with
director till the Final team Presentation Financial data along with technical details is prepared for final
presentation Narrowing down to 1 or 2 products for final presentation from a
choice of many that suits their requirement The GE team gives presentation to the Director along with
his/her team (Decision makers)
12GROUP 5 - GE Healthcare
GE Team consists of -Sales ExecutivesKey Account ManagerService Executives and Service ManagerApplication Specialist (crucial person)GE Finance Team member
Competitors also make their final presentations Technical aspects are of priority than Relationships Buyback prices/policies also plays an important role
13GROUP 5 - GE Healthcare
Order Routine Specification & Delivery: Takes around 30-45 days to place the order Down payment is paid along with Post dated cheques
during placing the order Extra payment for extended warranty Delivery takes place within 2 months Installation takes place within 1 month Post Sales training period is about 7 days (depends on the
complexity of the Instrument) Annual maintenance contract enforced
14GROUP 5 - GE Healthcare
Common Objection faced by GE Healthcare is Price Objections handled in most cases –
Considerable Decrease in Downtime – the most important factor for medical instruments
Unmatched Quality Support of GE Finance team (Unique Competitive
advantage of GE Healthcare)
15GROUP 5 - GE Healthcare
Prospecting for new clients, business and getting new leads Maintaining satisfactory after-sale relationships and
development of long-term customer relationships Develop account penetration strategies for key target and
competitive accounts Providing development/execution of strategies and action
plans to drive product sales Updating clients and sales team about new products and
enhancements
16GROUP 5 - GE Healthcare
Maintain existing customer portfolio and qualify new leads Generating proposals and preparing sales quotations Sales negotiation and deal closure at the customer Interfacing with all key buying influencers such as direct
users and department heads or CXO level personnel Expected to sell point of sale service contracts Develop and maintain a high level of product knowledge of
GE and competitor products Feedback to the technical heads along with field concerns,
issues and requirements
17GROUP 5 - GE Healthcare
Sales force use “Tacton Configurator” to design customized systems
Each sales person has the configurator installed on their laptop
Requirements/input can be entered in any order and the flowchart is automatically updated
Sales person can complete the entire configuration right at the point of sale
Leads to Increased sales Sales cycle shortened from several months to weeks
18GROUP 5 - GE Healthcare
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