Mcb wireless solutions.ppt
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This document outlines important terms and concepts for MCB Wireless Solutions, including profit transactions, features, chargebacks, and start-up costs. It proposes adjustments to the company's marketing approach, including offering coffee/a kids area, implementing a referral program, and developing an online store. It discusses focusing on product knowledge, qualified questions, matching prices, unbiased representatives, and quality sales to minimize costs. Expenses for starting up two locations are estimated at $192,000. The goal is to reach 200 sales per month per location to expand. Sales representatives will be paid based on a performance-based system tied to their revenue per hour.
Mcb wireless solutions.ppt
- 2. Important Terms to RememberProfit Transactions - Any transaction where the amount taken in is more than the amount spent for the product being sold. (Loss Transaction is the total opposite) Also known as a sale. Feature – A feature is an attachment to a rate plan, phone, or accessory that enhances the customers experience. (i.e. attachment could be TV, radio, navigation, internet, GPS, location services, etc.Chargeback – The minimum chargeback period is usually 90 days or Three months. A charge back is describes as any income paid after a profit transaction where the customer must keep the product for a certain amount of time in order for MCB Wireless Solutions to retain the payment for the sale.Start-up cost - The start up cost is the initial amount of funds that need to be secured by MCB Wireless Solutions to maintain at least 6 months of operation.
- 3. Typical StoreProfit Transaction (Sale)Potential Customer Usually other wireless companies will use the art of misdirection to influence a customers direction and make a decision for them. Instead they try these methods.Since they gave me something for free, Ill BuyPotential Customer Profit Transaction (Sale)Free Accessory(Loss Transaction)Waived Fees (Loss Transaction)Badgering Greeting Methods
- 4. MCB Wireless Marketing and Advertising Overhaul StoreProfit Transaction (Sale)Potential Customer Usually other wireless companies will use the art of misdirection to influence a customers direction and make a decision for them. Instead they try these methods.3Since they advertised the product, I’ll Buy1Potential Customer Profit Transaction (Sale)Free Product(Loss Transaction)Waived Fees (Loss Transaction)Badgering Greeting Methods 2Referral
- 5. Changes and Adjustments1) One the MCB Wireless Store Diagram, Point #1, is a classier and client driven solution. The point is to make the customer feel as wanted as possible during their experience. Point #1 will be to offer customers coffee and a kids area in our In-line location. Gas Pump will only be a first point of contact for the customer and will not necessarily cater to all of their needs. 2) Point 2, is another big service solution. MCB Wireless will implement a referral program that puts the customer in indirect control of their own special pricing. I.E. Offering a credit to customers based upon referrals who actually received gas. 3) Point 3, is a combination of marketing and sales via the Internet. We would like to operate a fully operational and in-store POS integrated website for customers to either order on-line or pick up in the store.
- 6. Areas of Company IndividualismProduct KnowledgeKnowing everything about a product can definitely bring more customers and traffic because the consumer feels as though they can trust your response.Qualifying and Open-Closed Ended QuestionsMatching Prices to retain customer loyaltyNon-biased and situation familiar sales representatives.Giving more attention to quality sales in order to minimize Chargebacks and thus improving net sales and net profits.Keep High quality products based upon customer Intel, and sales trends.
- 7. ExpensesStart-Up Will Include:6months rent for the Kiosk Location and In-Line Location ($72,000)Up and running full service website($20,000)Maintenance of about $250 per monthKiosk, Inventory, signage, rentals, software, licenses, utilities.($100,000)Maintenance of about $450 per monthThese numbers are approximate until actual contract is signed
- 8. The Bottom LineWireless Companies pay between 125 and 500 for a single sale of their product.After a store reaches a consistent 200 sales per month, that store has reached the external expansion limit for that location and the internal expansion plan begins. So the question is how does selling numerous wireless products and expanding fit together?If we can sell numerous wireless products and keep moral high with an outstanding and profit driven salary system, then we can maximize the industry and promote high quality sales and outstanding compensation. This alone brings great people together.
- 9. PayrollSales representatives will be paid based upon performance and by a payscalerubrik based upon their sales and net revenue/profit.The less you sell, the less you get paid, until you reach minimum wage. If you reach minimum wage the sales representative will be placed on performance review and an exit stragety unless improvement occurs will be implemented.
- 10. Sales Associate Rubrik Revenue per Hour determines hourly rate
- 11. Revenue per Hour is determined by the Total Revenue over an 80 hour work period divided by the number of hours worked over the 80 hour pay period.
- 12. Revenue Per Hour determines percentage of commission for sales. i.e. 100 RPH gets 100% commission. This way if Jamie doesn’t sell enough she still gets paid for her work, so her morale is kept in tact. In addition, the 15 sales she would make equates to about 15*125 = $1875. By subtracting her hourly wages and her commission((15*30)/4= $112.50. Out of the 1875 Jamie made, the company gets about $1000 and Jamies gets $750