tycoon medical final asia practicum
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Stacci Barosso
Owen Fayer
Ilango Gopalan
Vicky Patzer
Holly Weston
David Wroth
Prepared for:Visutha Vorasucha, Director – Tycoon Medical10 March 2010
Company Overview
• Mission: Providing quality medical products and superior medical engineering services
• Distributor of medical equipment and supplies– 160M ฿ Sales Turnover (US$5M)– 50 employees, Founded 2000– ~200 Customers– Only serving the Thai market
Supplies; 30%Equip;
70%
Bangkok UpCountry0%
10%20%30%40%50%60%70%
60%40%
Sales Volume
Product Mix
Incentive Spirometer
Laryngoscope
Operating Room TableModular Operating Theatre
Nebulizer and Compressor
Market/Industry Trends
Universal Health Care• Free Access for all Thai Citizens• Public Hospitals Struggling to Cope
Influx of Medical Tourism• United States• Europe
Sophistication of Devices• Disposable Products• Increasingly Complex
SWOT Analysis
StrengthsSynergistic Portfolio
Superior Customer Service Staff Experience
WeaknessesLimited Product Line
CommunicationLimited Trend Analysis
ThreatsCompetitors’ Broader Product
LineGovernment Restrictions
New Entrants
Opportunities
Enhance Product LineSales Lead TrackingEmployee Retention
Website/Co-op Advertising
TYCOON MEDICAL
CO., LTD
Sales Organization Dilemma
Diverse Products &
Sales Techniques
Sales, General Administration Expenses & Coordination
Bangkok Sales Team (Existing)
Sales ManagerBkk Metropolitan
Area
Product Specialist
SalesPublic Hp = 10Private Hp = 25
SalesPublic Hp = 10Private Hp = 25
SalesPublic Hp = 10Private Hp = 25
SalesPublic Hp = 10Private Hp = 25
* Private Hospital >50 Beds *
Potential Sales Structures
Territory
Product
Hospital Size / Type Hyb
rid M
odel
s
Account Exec
Product Spec
Inside Sales
Post Sales
Support
Bangkok Sales Team (Proposed)
TopCustomers
Mid –Tier Customers
All Others
Inside Sales
Sales PipelineSystem
Account Team
Sales Tracking & Follow UpSalesperson calls or faxes
lead
Sales Coordinator
enters data into database
Periodic Reports to Sales Manager
Sales manager contacts
salesperson
Salesperson follows up with lead
Salesperson informs sales coordinator of
result
Sales Coordinator
Updates database
2.00
4.00
6.00
8.00
10.0
012
.00
฿0.00
฿5,000.00
฿10,000.00
฿15,000.00
฿20,000.00
฿25,000.00
฿30,000.00
Incremental Margin
Number of Incremental OrdersM
on
thly
Mar
gin
/Co
sts
Breakeven Analysis
• 200 quotes/month• Average size of Quote
– Supplies (฿15K)– Equipment (฿700K)
• Incremental Conversion Ratio (<10%)
• Gross Margin @15%
LESS
• Cost of the additional resources (฿200K annual)
Timeline
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Sales Tracking Pipeline
Pilot Account Team
Trial Period Review
Implement Account Teams
Implement InsideSales Teams
Year End Sales Review
Initial MetricsIn Place
Metrics
Opportunities Quotes Orders Sales# of Opportunities # of Quotes # of Orders Total ฿ Value
Average Value Average Value Average Value Average Value
By Qualification Aging Conversion Ratio By Customer
By Product By Product By Product By Product
By Salesperson By Salesperson By Salesperson By Salesperson
A sales metrics scorecard will assist Tycoon Medical to drive sales growth
Conclusion
• Focus on top Tier Customers to drive growth through account teams– University Medical Centers– Private Hospitals catering to “medical tourists”
• Sales pipeline system to measure and improve opportunity-to-order efficiency
• Inside Sales organization to drive repeat business in the medical supplies area
Stacci Barosso
Owen Fayer
Ilango Gopalan
Vicky Patzer
Holly Weston
David Wroth
Prepared for:Visutha Vorasucha, Director – Tycoon Medical10 March 2010
APPENDIXBackup Information
Bangkok Sales Structure
Existing • Territory based • Sales Exec manages
prospects• Product Specialist• Sales Admin• Only 10% follow up• Coordination Issues• Increasing complexity will
exacerbate problem• Equipment Team not meeting
sales targets
Recommendation• Account Team for top tier
customers– Sales executive– Product Specialist– Inside sales person– Post sales support rep
• Mid to low level customers move to inside sales team
• Improve tracking and follow-up process
Sales Support and Compensation
• Structured compensation for In-House Coordinator• Incentive Program based on company performance
– Tiered system– Operating focus targets specific to job– Profit Sharing
Implementation
1. Sales Tracking and Coordinatora) Sales Metrics
b) Result- Improved follow up rate
2. Pilot Account Team for One Top Tier Customera) Three Person Team handles all aspects of the relationship
b) Result – Proof of Concept forAccount Team
3. Expand Account Team and Implement Inside Sales
a) Account teams for all “Top Tier” Customers
b) Inside Sales Team handles other customerswith Priority to Supply Business
c) Result – Increased sales and profits
Increase sales communication through widespread cell phone coverage3G cell site network deployment growth driven primarily by Asia
China, India, and Southeast Asia are big components of this growth
Better cell phone coverage enables improvement in sales communicationSMS-based communication enables 2-way access to/from headquarters and/or
database link
Asia 3G cell site deployment is
the biggest component of
growth
Kimberly Clark Customer Oriented Sales Plan
Position
The Call
Determine Customer Objectives
Propose an Action
Plan
Get an Agreement
Follow Up
- Understand the customers needs, goals, issues before introducing your product - Fit the product to the customer, not the customer to the product.
- Follow the process - don't cut corners
- Work multiple opportunities at different stages of the sales cycle
- Maximize time when in accounts
- Have group meetings - plan/execute/follow-up
- Find internal champions
- Introduce the product portfolio and prioritize products based on customer's initiatives
- Ask the right questions of the right person
- Test assumptions by asking questions
- Touch everyone involved in the sales process
- Keep Materials Mgmt. in the loop
- Leverage/neutralize the distribution rep and/or mfg. rep.
- Determine the meaning of success when selling and ensure compliance.
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