TUI Group: The Principles Of Successful Selling

Tui Group Name Institution Tui Group Introduction TUI group has had tremendous growth since being started in the year 1923. Today, the company is the world leader in tourism. They have strong tour operators, leading online portals, 1,600 travel agencies, 6 airlines and round 150 aircrafts, more than 325 hotels containing 239,000 beds, and 15 cruise liners (‘’ Tuigroup.com.,’’ 2018, n.d). TUI AG got into the tourism business in 1997 when they acquired Hapa-Lloyp, Germany’s leading Tourism Company. The company has since gone on to acquire more tourism companies to become one of the leading tourism groups in the world. The concept of sales management refers to the process of coordinating sales, developing a sales force, and implementing sales methods which allow a company to hit, and even exceed its sales targets (Jobber and Lancaster, 2006, p15). Sales manager boosts business performance in terms of the amount of revenue collected which enables an entity to remain competitive within the market. The aspects of sales management include sales operations, strategy, and analysis. The aspects help the business and employees in understanding results, developing a sense of control, and predicting future performance. The group reported revenue of 18,478 million Euros in 2013, 18,715 million Euros in 2014, 20,012 million Euros in 2015, 17,185 million Euros in 2016, and 18,535 million Euros in 2017 (‘’ Financials.morningstar.com.’’ 2018, n.d). The data shows that the performance of the company in terms of sales consistently improved from 2013 to 2015 before declining in 2016 and again increasing in 2017. Principles and Techniques of Successful Selling Principles and techniques of successful selling help a person in developing the needed skills in selling any product to anyone. Making meaningful sales volume requires creating good relationships with the buyers. Buyers have several alternatives to choose from as there are various companies that offer the same product. Therefore, there is need to create better relationships with customers through identifying their needs, building trust by offering quality products, building rapport, and showing genuine interest in order improve sales. A better relationship with customers will give the buyers a reason to buy from a company instead of other rival firms. The principles of successful sales management are discussed below: Planning Planning involves forecasting into the future to identify what should be done and who will do it. Planning is done after conducting an extensive market research and facts verified at every phase of the process (Kerzner and Kerzner, 2017, p67). A plan should be evaluated after analyzing the market for a given commodity and flexibility be provided for adjustments to allow the variation in production. Also, a plan should be reviewed continually to incorporate the changing needs of various heads of department and the subordinate staff members. Reporting Reporting is the process of analyzing sales data, keeping track of information at each stage of the process, and determining where to make improvements. A report includes details of product sold in a particular time, sales volume per product, the number of current and new accounts contacted, and the costs involved in advertising and selling the commodity (Sekaran and Bougie, 2016, p46). Moreover, a report indicates the trends which occur in a firm’s sales volume over time, specifically the increase and reduction in the revenue reported. The information from the trend helps managers in making decisions on the best course of action to institute. For instance, if the managers observe an increase in revenue from a given region, then they will improve the amount of products distributed to the area.   Selling   Also, the ability to close a deal and sell is one of the principles of successful sales management. A seller should not consider the kind of people they are selling to or where and whom they are selling their products (Hopkins and Jamison, 2017, p4). Actually, the ability to make a sale is what contributes to the revenue received by a company. Most people brag of the viable opportunities which they are working on, the kind of customers they are targeting, and how they work hard to achieve their goals. However, irrespective of how great the hard work and opportunities may seem, the actual benefit comes from closing a deal and making the sale. Contribution of the Principles and Techniques in Building and Managing Customer Relationship Planning Sales planning help a company in establishing their targets and choosing strategies that best suit the target customers. Sales planning help in developing knowledge of market place and building a stronger relationship with the customers. With planning, TUI Group and other companies can estimate what their demand in the markets is so that they can work towards meeting them. TUI has been able to use planning to determine the number of hotels they need and the capacity of each hotel in their locations to ensure that all their customers are well served. Large companies such as McDonald’s have been able to use sales planning to produce the right volume of products because they know what their target customers will need. Therefore, they are able to produce just enough quantity to respond to the demands. This way, the customers are always assured of getting the quantity they need at the expected quality. This enables them to maintain allegiance to their respective companies because they are sure of always having their quantities and qualities met. Efficient planning ensures that a company can tell the demand in the market so that the quantities they supply would be enough to fulfill their existing customers and leave some for the potential new customers. This is a strategy that ensures that customers would always come back to the company whenever they need new supplies or services because they are sure of getting them. This way, they will have confidence in the ability the company to meet their targets and this will help in earning their loyalty. Selling TUI Group uses selling principle as a strategy to increase its revenue through various ways such as digitalization, market demand, and diversification. The business has adopted Block-chain technology where it centralizes its inventories under one database. For instance, the database provides customers with information about hotel capacities and location. The Block-chain technology maximizes the firm’s benefits and ensures trust and transparency as well as tracking ownership (Dogru, Mody and Leonardi, 2018, p7). Also, the company has developed a shared customer database which provides them with information about their clients. The information helps in designing its products according to their clients’ needs and provides individualized exper...