Selling and Negotiation

Selling and Negotiation
MBA
2021-2023

Prof M. N. Tripathi
Room No. 222, Telephone 6647822 Fax: 0674-2300995
E-mail : mnt@ximb.ac.in

Course Outline

OBJECTIVES

This is an elective course for all marketing students who may be interested in a selling career. It demystifies the selling profession and enables participants to learn fundamentals in selling and negotiation principles which would last them a lifetime. Most marketing careers do start with a stint in selling, and therefore, selling is inescapable, if one wants to focus on a marketing career. In fact, one cannot do justice to the marketing assignment if one does not have a solid foundation of personal selling and negotiation and observing consumer behaviour on the field. For that matter, Selling and negotiation is something which all of us need to do, irrespective of being a marketing professional or not. These are life-skills, and therefore, nobody who wants to make a mark in industry or entrepreneurship can afford to ignore it.

COURSE CONTENT

Selling

Fundamentals of Selling
What makes a good Sales Person?
Prospecting
Gambits
Presentation
Closing of sales
Handling Objections
Territory management

Negotiation

What is negotiation?
Characteristics of a good negotiator
The process of negotiation
Conflict resolution
Negotiating Strategies and tactics
Negotiation with individuals
Negotiation with Groups
Negotiation styles
Roles played by negotiating teams

COURSE LEARNING OUTCOMES

Particpants after attending this course should be able to

1. understand and appreciate the skills and competencies required to be an effective sales person
2. close sales effectively and manage their respective territories
3. understand and appreciate what it takes to be a good negotiator
4. manage conflict in the negotiation process
5. understand the advantages and limitations of various negotiation strategies

METHODOLOGY

The pedagogy to be used would be a mix of roleplays, presentations, case-studies, exercises and lecture sessions

SESSION PLAN

Session	Topic	Session Learnings	Resource
Selling
1	Introduction to Selling	What is selling?,Things to do in selling, Role of a sales person in society, Myths abut selling, Characteristics of a good sales person	Chapter 1	Video
2	Motivations to Buying	Why do people buy?, approaches to buying, consumer purchase decision making, bstacles to buying	Chapter 4&5
3	The Art of Persuasion	Concept of space, Barriers to communication, levels of Power, Principles of contingency benefits, suggestions for persuasion, when to use logic and emotion?	Chapter 2&6
4	Sales prospecting & Opening gambits	Prospects and suspects,Qualifying prospects, Plannng for selling, Prepapproach, Approach, opening gambits	Chapter 7&8
5	The Presentation	Objectives, situational selling situations, handling objections, determining hidden objections	Chapter 9&12
6,7	Retail Selling & Industrial selling	Salutations, merchandise approach, knowledge of stock, types of shoppers, suggestive selling, complaint handling, industrial buying roles, selling to govt.		Selling in a Recession - Ted Higgins
8	Closing a sale	What is closing? 8/73 survey, types of closing, reasons for failing to close, mistakes during closing	Chapter 13
9	Selling through Demonstrations	Objectives of a demo, what to take care during a presentation, conducting oneself during a demo, following up of enquiries	Chapter 11
10	Territory Management & Control	Types of sales, allocating resources, managing territory, time management, itinerary planning, sales productivity indices, ROTI	Chapter 15
Negotiation
1	What is Negotiation?	Voluntary process, interdependencies, dilemmas in negotiation, satisfaction n negotiations	Video, Self Inventory Chapter 1
2	What makes a good negotiator	skills and competencies required, interest based negotiation, basic rules of negotiation, pitfalls, power and dependencies	Exercise Chapter 2&3
3	The Social Context of Negotiation	Negotiating within relationships, dimensions of relationships, trust - agreement matrix, calitions	Chapter 10 & 12
4	Conflict Resolution & Management	What is conflict, cost and levels of conflict, conflict behavour, conflict management styles, dual concerns model, conflict resolution	X and Y Game Chapter 6 & 7
5	Negotiation Strategies	distributive bargaining, min-max strategy, Batana, power and perception, sources of power, zopa, power of silence, winner's curse, godcop-bad cop. high ball-low ball strategy, negotiation traps	The 'Blind Partnership' game Chapter 5 &18
6& 7	The Process of Negotiation, Negotiating Phrases, Focus of Negotiators	negotiating phrases,stages of negotiating, focus of ngotiators, characteristics of negotiators, negotiating weaknesses and mistakes	The Prisoner's Dilemma Chapter 4 & 20
8	Negotiating with Individuals		'Redecorating the Office' 'Driving a bargain Chapter 15	Role Plays
9	Negotiating with Groups		'The Report' 'The Office Move' Chapter 11,12, 13	Role Plays
10	Negotiating Styles	identifying one's negotiating styles	Negotiation Style Inventory

Academic Integrity

All participants are expected to attend classes regularly. Penalty for unauthorised absence from class shall be awarded as per the MoP for students. No advance notice shall be given for the quizzes. It could be on the course material, readings and/ or a case analysis. Absence on quiz days shall entail loss of grade point weightage for the quiz. No requests for makeups are going to be entertained. Readings, text and cases for the classes are expected to have been studied before coming to class so that meaningful discussion can take place. Class participation marks shall be given on quality of participation

Assessment Scheme

Component Weightage % Assessment of Course Learning Outcomes (CLOs)

Class Participation 15 CLO 1,2, 3, 4, 5

Quizzes - 2 @ 15% 30 CLO 1, 2, 3, 4, 5

Assignment 15 CLO 3, 4

End Term 40 CLO 2, 3, 4, 5

MAPPING COURSE LEARNING OUTCOMES (CLOs) WITH THE PROGRAMME LEARNING GOALS (PLGs)

Addressed by Course

PLGs Programme Learning Goal Trait
Addressed by course

1 Functional and Business Skills The students would demonstrate understanding of elements of all functional areas YES

2 Analytical Skills The students would use analytical techniques to identify a business problem and suggest a solution NO

3 Collaboration and Teamwork Attributes The students would exhibit voluntary cooperation and effective teamwork in a group setting NO

4 Ethical Responsibility The students would understand the ethical complexities of conducting business. The students would adopt techniques in scenarios involving ethical dilemmas and offer resolution. YES

5 Communication The students would produce reasonably good quality business documents required for the course. The students would become effective, persuasive and confident communicators YES

Class Participation - 15%
Assignment - 15%
Quizzes - 2 ( 15% each)
End term - 40 %

List of Readings
Books

Recommended Texts

Fundamentals of Selling - Charles Futrell 10th edition
Negotiation - Lewicki, Saunders, Barry 6th edition

Additional Reading
Selling

1) Selling, Principles and Practices - Russell, Beach and Buskirk
2) Ziglar on Selling - The Ultimate Handbook for the complete sales professional - Zig Ziglar
3) Secrets of top Performing sales professional - Del Gaizo, Lunsford, Marone

Negotiation

1) Everyday Negotiation - Kolb and Williams
2)Negotiating Skills for Managers - Steven Cohen
3)Win-Win Negotiating - Turning Conflict into Agreement - Fred E Jandt
4) Bargaining Games - A New Approach to Strategic Thinking in Negotiating - J K Murnighan

Readings

1) The Only Four Page Guide to Negotiating You'll Ever Need - HBR article
2) Six Habits of Merely Effective Negotiators - James K Sebenius, HBR article
3) Negotiating with a customer you can't afford to lose - Thomas C Keiser
4) Step into my parlor: A survey of strategies and techniques for effective negotiation - Terry Anderson
5) Negotiation games - Negotiating Techniques - Tom Nelson

Component	Weightage %	Assessment of Course Learning Outcomes (CLOs)
Class Participation	15	CLO 1,2, 3, 4, 5
Quizzes - 2 @ 15%	30	CLO 1, 2, 3, 4, 5
Assignment	15	CLO 3, 4
End Term	40	CLO 2, 3, 4, 5

PLGs	Programme Learning Goal	Trait	Addressed by course
1	Functional and Business Skills	The students would demonstrate understanding of elements of all functional areas	YES
2	Analytical Skills	The students would use analytical techniques to identify a business problem and suggest a solution		NO
3	Collaboration and Teamwork Attributes	The students would exhibit voluntary cooperation and effective teamwork in a group setting		NO
4	Ethical Responsibility	The students would understand the ethical complexities of conducting business. The students would adopt techniques in scenarios involving ethical dilemmas and offer resolution.	YES
5	Communication	The students would produce reasonably good quality business documents required for the course. The students would become effective, persuasive and confident communicators	YES