Made available in DSpace on 2016-08-03T12:31:09Z (GMT). No. of bitstreams: 1 Capa.pdf: 133871 bytes, checksum: e9bcc63d0176ef1e0b62168a9e5948b2 (MD5) Previous issue date: 2010-04-12 / Conselho Nacional de Desenvolvimento Científico e Tecnológico / The research proposal is based on the theme marketing integrated communication for the boarding of the acting of the communicative competence, selling promotion, on the internet and of the e-promotion emerging, as the selling point message extension. The objective is to verify how these new communication technologies, specifically the internet, have been modifying the manner of making selling promotion. The methodology to be applied in the project consists in a qualitative research with exploratory character through a succinct bibliographic research that intends to investigate many works referring to the communication themes, selling promotion, digital marketing and e-commerce, in the studying of multiple case of companies that use the off-line promotion and the e-promotion as a communicative tool. The conclusion points to hybrid actions and apparent lack of promotions that work in its entirety in the offline environment.(AU) / A proposta de pesquisa se baseia no tema comunicação integrada de marketing pela abordagem da atuação da competência comunicacional, promoção de vendas, na internet e do surgimento do e-promotion, como extensão da mensagem do ponto-de-venda. O objetivo é verificar como estas novas tecnologias de comunicação, especificamente a internet, estão modificando a forma de fazer promoção de vendas. A metodologia a ser aplicada no projeto consiste em uma pesquisa qualitativa com caráter exploratório através de uma pesquisa bibliográfica concisa que pretende investigar as muitas obras referentes aos temas de comunicação, promoção de vendas, marketing digital e e-commerce, no estudo de caso múltiplo de empresas que utilizam as promoções offline e o e-promotion como ferramenta comunicacional. A conclusão apontou para ações híbridas e aparente ausência de promoções que atuam em sua totalidade no ambiente offline.(AU)

This master thesis focuses on the issue of practical implementation of Solution Selling philosophy in general and of its principles in particular. It also covers topics of the sales function in a company, sales workforce and related problems with hiring and differentiating between sales positions, theoretical background of Solution Selling and discussion about its topicality and ability to address needs of modern economic environment. Empirical part is based on three case studies of such companies as VMware, Cisco and DuPont and example of business model of IBM Corporation, which successfully uses Solution Selling as a core for its operational activities. Results of findings are provided in the end of practical part and in general conclusions.

Thesis (MBA)--Stellenbosch University, 2007. / ENGLISH ABSTRACT: Companies within the FMCG sector are continually trying to create value from their brands by increasing their margins and/or selling more of their products. Taking cost out of the value chain gives the company a competitive advantage, but this advantage is short lived as competitors also reduce costs. Differentiating a product through enhanced features and benefits also provides a competitive advantage, but is also subject to imitation by rivals. As competition increases, companies are looking for new avenues to differentiate themselves. Relationships marketing has, as a result, increased its prevalence as a competitive tool to provide that point of difference. This research report analyses the factors that influence the relationship between a Coca-Cola sales representative and his/her customers with the Cape Town region. The geography is unique in that is has a cross section of people who represent different races, religions and languages. This research report examines the impact that age, gender, education and culture have on the ability of a sales representative to build a relationship with a customer. Culture is broken down into four categories. These categories examined the race, language, religion and area of residence of a sales representative relative to a customer and the impact these attributes have on the ability to build a relationship. Positive relationships have an impact on the sales representative's ability to influence the store owner to activate certain in-store drivers which will increase the sales volume of products through an outlet. In-store drivers have been defined as the availability of a product through listing, the amount of forward share allocated to the product and the price of the product. If the profile of a sales representative relative to that of a customer, has an impact on the strength of the relationship, companies could "match" sales representatives to customers based on their respective profiles. This "matching" would have a positive benefit for the sales representative and his/her company. The research showed that there was a correlation between the profile of a sales representative and a customer. It is easier for a sales representative to build a relationship with a customer who is a similar age. It is however easier for the sales representative to influence a younger customer. Gender plays no role in a sales representative's ability to build a relationship. With respect to education, a stronger relationship exists between a customer and sales representative of a similar education. Again it is easier for a representative to influence a customer who has a lower level of education. Race does have an impact on the ability to build relationships. The research showed that an African sales representative should service an African customer. The same applies to a Xhosa speaking sales representative. There is a positive link between matching sales representatives and customers who come from similar areas and have the same religion. Understanding what factors can improve or inhibit a relationship provides important insights into how management can influence a competitive advantage in customer relationship marketing. / AFRIKAANSE OPSOMMING: Maatskappye binne die FMCG-sektor probeer deurlopend om waarde tot hulle handelsmerk toe te voeg deur hulle winsmarges te vergroot en/of meer produkte te verkoop. Om koste uit die waardeketting te verwyder, gee die maatskappy slegs vir 'n kort tydjie 'n mededingende voordeel aangesien mededingers ook koste verlaag. Om produkte te differensieer deur kenmerke en voordele te verbeter, bied ook 'n mededingende voordeel maar kan eweneens deur mededingers nageboods word. Soos wat kompetisie toeneem, soek maatkappye nuwe maniere om hulself te differensieer. Verhoudingsbemarking kom gevolglik al meer voor as 'n mededingende instrument om daardie klein verskil te maak. Hierdie navorsing ontleed die faktore wat 'n invloed uitoefen op die verhouding tussen 'n verkoopsverteenwoordiger van Coca Cola en sy/haar mededingers binne die Kaapstad-streek. Die geografie is uniek omdat dit 'n verskeidenheid mense van verskillende rasse, godsdienste en tale omvat. Die navorsingsverslag ondersoek die impak wat ouderdom, geslag, opvoeding en kultuur uitoefen op die vermoe van die verkoopsverteenwoordiger om 'n verhouding met 'n klant op te bou. Kultuur word in vier kategoriee verdeel. Hierdie kategoriee ondersoek die ras, taal, godsdiens en woonarea van 'n verkoopsverteenwoordiger relatief tot 'n klant en die impak wat hierdie kenmerke uitoefen op die vermoe om 'n verhouding op te bou. Positiewe verhoudings het 'n impak op die verkoopsverteenwoordiger se vermoe om die winkeleienaar te beinvloed om sekere aandrywers in die winkel toe te pas om die verkoopsvolume van produkte deur so 'n winkel te verhoog. Hierdie aandrywers in die winkel is geidentifiseer as die beskikbaarheid van 'n produk deur notering, die hoeveelheid aandele wat vooruit aan die produk toegeken word en die prys van die produk. As die profiel van 'n verkoopsverteenwoordiger relatief tot die van die klant 'n impak uitoefen op die kwalitieit van die verhouding kan maatskappye verkoopsverteenwoordigers by klante "pas" op grond van hulle onderskeie profiele. Hierdie "passing" kan 'n positiewe voordeel vir die verkoopsverteenwoordiger en sy/haar maatskappy inhou. Die navorsing het aangetoon dat daar 'n korrelasie bestaan tussen die profiel van 'n verkoopsverteenwoordiger en die klant. Dit is makliker vir 'n verkoopsverteenworrdiger om 'n verhouding op te bou met 'n klant van 'n soortgelyke ouderdom. Dit is egter vir die verkoopsverteenwoordiger makliker om 'n jonger klant te beinvloed. Geslag speel geen rol in die verkoopsverteenwoordiger se vermoe om 'n verhouding op te bou nie. Sover dit opvoeding aangaan, is daar ook 'n sterker verhouding tussen 'n klant en verkoopsverteenwoordiger van soortgelyke opvoeding. Weer eens is dit makliker vir 'n verteenwoordiger om 'n klant met 'n laer vlak van opvoeding te beinvloed. Ras het wel 'n impak op die vermoe om verhoudinge te bou. Die navorsing het aangetoon dat 'n swart verkoopsverteenwoordiger beter vaar met 'n swart klant. Dieselfde geld vir 'n Xhosa-sprekende verkoopsverleenwoordiger. Daar is 'n positiewe gevolg waar verkoopsverteenwoordigers en klante uit soortgelyke areas en met dieselfde godsdiens by mekaar gepas word. 'n Begrip vir die faktore wat 'n verhouding kan verbeter of inhibeer bied belangrike insigte in maniere waarop bestuur 'n mededingende voordeel kan meebring deur verhoudingsbemarking op klante toe te pas.

Background: Given the situation that todays’ companies establish deeper relationships with their clients, focusing on long- term collaboration and emphasis on mutual cooperation, the communication with the clients is increasingly based on one-to- one communication. Personal selling is described in literature as one tool of the communication mix. This tool of one-to one communication has become very important. Several companies spend 8-15% of their net sales on personal selling to communicate directly with their clients, supporting them in evaluating specific needs and thus be able to offer the right product. The B2B environment is highly complex in its various characteristics. In regards to personal selling, the characteristics of intercultural aspects, B2B Relationships and Relationship Marketing has been chosen. The usage of personal selling could improve B2B Relationships. Research Question: How companies use and manage personal selling to strengthen B2B relationships? What are the cultural differencesregarding to the country of operation? Purpose: The purpose of this master thesis is to identify how personal selling can influence and strengthen B2B relationships. In this evaluation, the authors like to examine the differences in personal selling management according to the country of operation. The objective is to arrive on implications for B2B companies, especially in the IT sector. Method: The study uses an inductive research approach. The target is to arrive on new insights whether personal selling improves business- to business relations. Within the qualitative research method four case- studies of B2B IT companies from Brazil and Sweden will be evaluated. Through semi- structured personal interviews primary data will be obtained from each company. Through the conduction of the interviews in two countries, the impact of cultural aspects will be evaluated simultaneously. Theoretical Framework: The study evaluates literature about Cultural Aspects, Relationship Marketing, B2B Marketing and Sales Management in order to gain knowledge in accordance to the thesis’ research topics. B2B Markets are characterized by its complexity. The study uses those B2B characteristics which are influences by personal selling. Findings & Conclusion: Through the evaluation of the case studies in two countries, it can be outlined that personal selling has a positive impact on the establishment of long-term business relation, increase market recognition and leads to mutual business cooperation with the customer, that is necessary for future business development and product development according to customer and market demands. Understanding hereby the cultural background of the client is evaluated as an advantage on the direct communication and establishment of business relation.It is thus suggested to focus on personal selling, while providing technical advance solutions that require a high demand on communication.

The thesis examined the phenomenon of micro-entrepreneurship, social selling and relationship management on WeChat. I used autoethnography as my research methodology, and the findings contribute to academic area on social selling, micro-entrepreneurship, social marketing, relationship management, and strategic communication. This paper also explored how WeChat users conduct their management strategies and relationship marketing in the common Chinese culture background. Findings revealed that WeChat is an ideal social selling and marketing approach for Chinese individual sellers to accomplish their business goal.

Thesis (PhD)--Stellenbosch University, 2012. / The impacts on the active management of investment portfolios of a) market concentration, b) cross-sectional return dispersion and c) restrictions on short sales are explored in this thesis. The context is the fund sponsor’s management of their investment managers in a South African equity investment environment. Some of the findings here are developed analytically and some make use of multiple simulated investment views and their corresponding optimal portfolio solutions to document the size and nature of the inefficiencies that are created by these three factors. The cross-sectional volatility of asset returns in an investment universe represents a carrying capacity for active risk taking: the higher the cross-sectional volatility, the greater the opportunity for active risk taking. Cross-sectional volatility is shown to be an important consideration when setting active risk targets. It is shown that, to remain efficient, active risk should be reduced during periods of low cross-sectional dispersion and vice versa. The sensitivity of active risk estimates to changes in the cross-sectional dispersion of their investment universe is demonstrated and sponsors should therefore exercise caution when reacting to changes in the active risk estimates of their funds. Cross-sectional volatility is shown to be time-varying and is related to similarly varying dispersion in realised fund returns. The ex post performance of competing portfolio managers therefore require correction for this heteroscedasticity and an effective weighted adjustment is recommended. Active managers can only fully express their views in an environment where their mandated conditions accommodate their conviction and level of risk taking. The short sale restriction is shown to be materially binding when applied to a concentrated benchmark such as the ALSI where only a few of the stocks comprise most of the total investment weight. The more concentrated the benchmark and the higher the active risk target, the wider the distribution of individual asset weights in the portfolio will be and the more binding the weighting constraints will be. It is shown that constraints on short positions are more binding on assets with small weightings in the benchmark illustrating the asymmetrical sub-optimal effect of these constraints when they are applied uniformly across the investment opportunity set. It is argued that requiring long-only managers to increase their active positions and/or active risk in a concentrated investment environment further constrains them in their ability to express their best investment view and increases their competitive disadvantage relative to unconstrained funds taking similar risk. The research presented in this thesis measures the nature and size of the impacts of the market concentration, cross sectional return dispersion and restrictions on short sales that are implied by the investment mandate on the quality of the investment portfolio, providing analysis and techniques which can inform and improve the quality of the relationship between fund sponsor and fund manager. The more appropriate the investment mandate and the monitoring of the fund’s performance subject to this mandate, the more effective the manager’s risk-taking on behalf of their investors will be. This is the principle that this research aims to serve.

published_or_final_version / Business Administration / Master / Master of Business Administration

本文以次貸風暴期間英國金融服務管理局的限制放空政策為研究對象，探討該政策對股票報酬率、股票波動度之影響。本研究將研究期間分為限制放空期間、允許放空期間，並將英國金融服務管理局公布的限制放空名單劃分為銀行業、財務顧問業、壽險業、產險業，利用GJR模型分析限制放空政策對不同產業影響的差異性。 實證結果證明，除少數銀行類股在限制放空期間的股價報酬率顯著低於允許放空期間，大部分限制放空個股的報酬率在兩期間並無顯著差異，然而限制放空期間幾乎所有研究樣本的股票波動度卻顯著提高。顯見政府限制放空政策不一定能有效抑制股價跌幅，卻會加劇股票波動性，加劇市場震盪。 / UK’s Financial Service Authority banned short selling on financial stocks during subprime crisis. This paper investigates the effects of short-selling restrictions on stocks’ return and volatility in the United Kingdom. After dividing the sample period into banned and no-banned period and classifying the samples into banking, financial consulting, life insurance and nonlife insurance industries, we explore the impact of short-selling restrictions using GJR-GARCH models on individual firms in different industries. We find that stock returns of most samples in the short-selling banned period are not significantly different from the ones in the no-banned period except for a few stocks in the banking industry. However, we also find that stock volatility is significantly higher in short-selling banned period for most samples. Our results show that short-selling restrictions imposed by the U.K. government have only limited effects on stock return, but have significantly alleviated stock volatility.

Sales management control and sales force performance has received substantial attention by researchers in the past decades. Researchers have been investigating the construct of sales control, its antecedents and its consequences on both the individual sales person and on sales force performance. This research project analyses how and why the sales control systems are implemented the way they are. The basis for this approach is drawn from the organisational or management control literature which treats behaviour and outcome approaches as dimensions rather than categories. Organisational control also treats the control system as a process which consists of a set of stages or sub processes being objective setting, planning, monitoring, feedback and correcting. With the growing importance of relationship selling and key account management it can no longer be assumed that all the sales people will operate at the same hierarchical level within an organisation nor that they will be subject to one and the same control system. Therefore an in depth analysis of how sales force control processes are implemented for different types of sales functions, ranging from customer acquisition, small to medium account management to strategic and global account management, is needed. The research project included 17 preliminary interviews across different organisations, from which one organisation was selected on the basis that it contains a large international sales force of about 2.500 people consisting of a very wide range of sales functions. The analysis of this organisation included 100 plus interviews of 66 sales managers and sales people across all types of sales functions over a two year period. The findings show that the inability to measure certain inputs and outputs does not deter a sales organisation to adopt their sales control strategy within a functional sales team. When some measures are not available or are unreliable, sales managers find other ways to measure them being it through some locally developed tools or through more qualitative approaches. The method used to obtain certain measures does impact the level of the sophistication of the actual control process or strategy. When there is a need to control sales people who operate as a team of employees from different departments the sales managers can no longer individually develop some local tools to measure inputs and outputs. The findings show that team based selling requires accurate data but also globally agreed rules and procedures in order to operate successfully. This enables us to conclude that the inability to measure certain inputs and outputs is a determining variable for the implementation of client sales teams. With regard to sales force control strategies the research uncovered that within the category of the hybrid sales control approach there are four types of sales control sub approaches. The choice of which control to use is dependent on the size of the customers or opportunities the sales people work with and the selling approach which is either hunting or farming. This shows that while farming can be relabelled as key account management, hunting remains a major sales activity requiring not only different selling approaches it also requires different types of sales control processes than for farming. All of these findings indicate that several types of sales control systems can operate across one single organisation and that the main determining variables are the sales approach and the type of accounts the sales person is managing. This challenges current beliefs or assumptions that all sales people operate at the same hierarchical level within an organisation and that they all operate under one single sales control approach. Future research on sales force control will need to take these findings into account when designing their approach to study control systems within organisations.

Short selling came onto the centre stage during the recent financial crisis when the collapse in price of financial listed securities after the demise of Lehman Brothers led to the introduction of a number of temporary short selling bans. In Europe however it was the commencement of the recent European sovereign debt crisis that was the true stimulus for proposing new short selling rules, the culmination of which was the introduction of the European Short Selling Regulation (the 'Regulation'). The thesis asks whether the Regulation is a justifiable response to the concerns posed by short selling. Such issues are measured against the relevant economic literature that almost overwhelmingly demonstrates that short selling contributes to market efficiency, that restrictions generally make markets less efficient and that constraints do not achieve the desired objective of stabilising prices. The thesis then analyses the political economy and backdrop to the Regulation’s introduction that largely dictated the shape of the final rules. The precise legislative choices made by Europe, including with respect to sovereign credit default swaps, are analysed, and (where relevant) there is a comparative element with a consideration of the US short sale regulations. These rules are used as a contrast and as a means of commenting more effectively on the European provisions. The doctorate concludes that the Regulation is not a justifiable response to policymakers' concerns and that the rules have suffered from the politicisation of the legislative process. The thesis suggests that short-term political point scoring has triumphed over the long-term benefits of market efficiency and that short sellers are now the subjects of highly technical rules that will negatively impair on market efficiency. Although, with time, parties may learn to use the new rules to their advantage, this does not justify the introduction of unreasonable rules in the first place.