Strategic Selling Research-ge Healthcare

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

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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

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http://www.gehealthcare.com/usen/products.html

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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 

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Selling to Government institutions

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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

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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

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General Need Description & Product Specification:  Meeting with Director of the Hospital (Economic buyer) Cost of the machine Break even point Efficiency 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

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Supplier Search:  Competitors (like Philips, Siemens) also pitches for their product  Director discuss the requirement with his/her team  Team comprises of Radiology Dept. Head  Bio-Medical Engineers  IT Dept.  Finance Dept.  Legal Dept.

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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)

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GE Team consists of Sales Executives Key Account Manager Service Executives and Service Manager Application 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 

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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 GROUP 5 - GE Healthcare

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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)

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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

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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

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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

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