A Develop a product strategy—
In the following Competitive Analysis, I identified competitors for “Jim Pattison financial services Program Scholarship” (the other major scholarships awarded by langara) further I evaluated their strengths and weaknesses comparing with my own Scholarship.
Major scholarships provided by the institution at the moment are as follow-(these scholarships are a threat to my own scholarships) The following are the strengths and weakness for each of the scholarship as compared with mine scholarship.
1- Armstrong-Lepeska Science Marketing Scholarship
In this scholarship the students of Science (General) program as well as Business program students can be awarded the scholarship. Benefiting to two different fields of study.
The scholarship is only offered to the second semester students, whereas my scholarship benefits both the 2nd semester students as well as 3rd semester students or 2nd year students.
2- Enterprise Rent-A-Car Scholarship
Strengths- this scholarship is awarded to a student who has demonstrated volunteerism with preference given to those with an interest in environmental causes, which is a great benefit while giving out these scholarships to students. Plus this scholarship expects a lower GPA as compared with mine
Weakness- This scholarship is only awarded to someone who is in his 2nd year and only awarded during the spring semester, also if someone is not into volunteering has a good chance on missing the scholarship that's a demerit for the scholarship
3- Langara Financial Services Scholarship
Strengths- The GPA required for a student to get this scholarship is quite average at 2.75,which gives an edge to an average student to get this scholarship.This scholarship provides fair and square chance to almost every student.
Weakness- It is awarded only once a year during the spring semester only. This scholarship is only applicable for 3rd and 4th year students only.
4- Langara Financial Services Scholarship
Strengths- This scholarship is awarded twice in every semester, with students having a chance to get this scholarship every semester
The students in a career program are preferred over the other students
5- Leelah Dawson Award for Excellence and Leadership
The college recognizes the efforts of the student and award the scholarship accordingly the minimum GPA required is 3.33.
A student has to make a 2 page cover letter and a 4 page resume for applying the scholarship. Only given once a year in every fall. Where as my scholarship is given at any moment of the year.
6- Shirley Joseph Memorial Scholarship
Awarded to students who have completed 12 credits and demonstrate characteristics of kindness and creativity
Student must be enrolled in a minimum of 4 courses at the current semester in order to receive the scholarship
Develop Your Positioning Strategy- Positioning refers to the place that a brand occupies in the mind of the customer and how it is distinguished from products from competitors. In order to position products or brands, companies may emphasize the distinguishing features of their brand or they may try to create a suitable image through the marketing
When all the formalities regarding the scholarship are done, and the scholarship has been drafted into the institution, we will ensure that every student in a Business program comes to know about the scholarship we can do that by sending an email to them and also by advertising about the scholarship on all the notice boards of langara. No other scholarship have done this before, by this case more students will be aware about the scholarship. More students will be able to apply for the scholarship and the chances of an worthy student missing out on the scholarship are quite seldom. By advertisement on the notice boards and sending a email the scholarship tells every student the requirements and the expectation in getting the scholarship, which also creates an distinctive and unique image for the scholarship.
Feature- Benefit Strategy.
The Scholarship will help the students to diminish the effect of rising tuition fees. It helps the students too focus more on their academics, will decrease the number of student loans for a student.
3- Draft potential questions for the prospect and draft answers
Prospect Product Worksheet.
Potential Draft Questions? Potential Draft answers.
Q1 would we receive a tax receipt?
Yes the college would provide a tax receipt and also the other necessary documents.
Q2 Would our name be included in the scholarship? Yes, your name would be on the scholarship, it depends upon you whether you want to use our last name or first name.
Q3 What are the benefits for us behind donating the money? The benfits are as follows 1- you will get an tax receipt 2- your name would be included in the scholarship 3- recognition by the institution and the community for donating money for a noble cause.
Q4 In what manner You will use the Scholarship money?
We will put the money in a savings account and every year the scholarship would be given to one business student, from the interest we will be getting from the money.
Q5 Where does the scholarship stands in the next 10 years and how? Our college plans to continue the scholarship for the next 15-20 years, benefiting the students all together, we plan to earn interest from the money so that it could last long.
Q6 Why should we only donate in the business department, why not the English department? With you yourself in the business sector the students who might get the scholarship might be your future employees, which helps you in generating loyalty among employees even before they join your firm.
Q7 How will students benefit from this?
The student will get $1200 for paying off the tuition of as many courses.
Q8 What would be the qualifying criteria for the students to get this scholarship? 1-The student should be in a business program.
2-The student should have an CGPA of 3.0 minimum.
3- Must have completed 9 credits in the institution.
4- Shouldn't be having any academic probation.
Q9 For how many years your college plans to give this Scholarship? The college plans to give this scholarship for a minimum of 15 years.
B) Develop a customer strategy
1- prospect qualifying criteria
--- List your qualifying criteria
1- Must have an annual income of at least $50,000
2- Must have a post secondary degree or diploma himself.
3- Shouldn't have any criminal record
4- Should Provide at least $1200 for the next 15 years for the scholarship to the business department. Or provide a cheque of $50,000 for the scholarship.
5- Should be a serious donor.
6- Role Model for the young generation
7- Should be a residing in Vancouver for minimum of 3 years.
8- Should have a good social image.
Potential questions I might ask to the donor-
1- Reason behind choosing langara?
2- What is your perception about langara?
3- Are you an alumni, former staff member or someone else ?
4- Do you want to donate only to the business department or are you interested in donating to any other department?
5- Are you donating money for the sole purpose of getting a tax cut?
6- Do you have any criminal record or an ongoing case going on in court?
7- From which institute did you do your post secondary degree or diploma?
8- What's your annual income or the annual income of your firm?
9- If an alumni how do you believe the institution has changed over the period of time?
10- What according to you the young generation has an role in our society and for the future?
11- Do you seek these students who might get the scholarship as your future employees?
12- Are you willing to provide the money for the next 15 years Or provide a cheque of $50,000 to the business department?
13- According to you what role does education has in our society?
1- Dr. Veda Roodal Persad
Student Advisor in the Department of Mathematics and Statistics at Langara College, a role in which she helps students with queries relating to registration, enrollment, transfer credit, and course planning.
Has an experience of over 25 years in the Department of mathematics and statistics.
Also a member of Langara Board of governors Till October 14,2019
2- Wallace Chan
Business professor at langara college and a part time radio jockey.
Contact name – Wallace
Title- professor in the business department
Email- [email protected]
A fun loving professor with a great sense of humour. Generous and kind to all
3- Jarrett Vaughan
Marketing professor at Langara college, UBC and Capilano University. Besides that he is also an entrepreneur who likes investing in businesses
Contact Name- Jarrett
Email- [email protected]
A professor who himself has worked in the marketing and the business industry in the past like the famous four seasons hotel chain in Vancouver Downtown before he started teaching.
4- Jim Pattison
Company- The Jim Pattison Group
Position- Jim Pattison holds the position of chief executive officer, chairman and sole owner of the Jim Pattison Group.
The company is the largest privately held company in Canada. It's a Vancouver based company with interest in interests in media, automotive dealerships, grocery store chains, magazine distribution, food service specialty packaging, advertising, real estate development, fishing, forest products, financial services, and entertainment
5- Ajaydeep Singh Dhaliwal
My elder cousin brother , a business graduate from UBC
A young entrepreneur who runs his own real state company in the lower mainland region and also an former investment banker at the TD bank in lower mainland.
Contact Name- Ajay
Organization- Coast Capital Savings Credit Union
Position- One of the Board of Directors at Coast Capital
He is currently the one of the board of directors at coast capital, and also the Director on the Boards of RAMMP Hospitality Brands Inc., and Valley Lube Holdings Ltd. He did his MBA from Simon Fraser University and an honours in BCom from McMaster University.
HE loves playing and teaching hockey, and a Vancouver Canucks fan.
7 - Christine Magee
Position- One of the Board of Directors at Telus
Christine is also the Co-Founder and Co-Chair of Sleep Country Canada a company she founded in 1994. Christine earned an Honours Degree in Business and Administration from university of western Ontario and holds an Honorary Doctorate from Ryerson University.
8- Francesco Aquilini
Organization- Canucks Sports and entertainment Corporation
Title- Co-owner and Chairman Of the Board
Francesco Aquilini is the Co-Owner and Chairman of Canucks Sports and Entertainment Corporation, he is the Owner and the Chairman of the The Vancouver Canucks. He did his MBA from University of California, Los Angeles, he also did his graduation from Simon Fraser University in Business administration.
He is an Canadian based Businessman, investor and philanthropist.
9- Dennis J. “Chip” Wilson
Title- founder and former CEO of Lululemon
Dennis J. “Chip” Wilson is a Canadian based businessman who founded Lululemon( a famous athletic apparel company).In 2015 he sold 13.85% of his ownership share in Lululemon to advent for approximately$845 million. He did his Bachelor of Arts in Economics from University of Calgary.
10- Richard Jaffray
Organisation- Cactus Club
Title- Founder and President of Cactus Restaurants, Ltd.
Richard Jaffray founded Cactus club in 1988 and now serves as an President. He opened the restaurant in order to sell sandwiches, cappuccinos and ice creams.
Person who qualified my qualifying criteria
The prospect that met my qualifying criteria is Jim Pattison, Company- The Jim Pattison Group.
Jim has an annual income of more than $50,000, in fact he is the richest man living in British Columbia, who was raised and still lives in Vancouver. He is also a recognised and self made billionare, which will encourage the students to be as successful as Jim is, and prosper the students to be as successful as Jim. He did his post secondary degree from University of British Columbia. He doesn't have any criminal charges against him. For donating the money to the institution he won't be having problem in that as he has donated to several charities in the past. Successful business man like him can also be a role model for the student who gets this scholarship, his company is a Vancouver based company with interest in interests in media, automotive dealerships, grocery store chains, magazine distribution, food service specialty packaging, advertising, real estate development, fishing, forest products, financial services, and entertainment. The students might also become an future employee for owing that Jim already has many successful business running in Vancouver itself.
C- Develop a presentation strategy
ESTABLISH YOUR PRESENTATION OBJECTIVES-
• Ask the people sitting in the room of how they would like to be called?
• Why am I making this presentation?
To raise scholarship funds for Langara College.
Objective- To give the room of audience the clear understanding about the Institution langara college, and tell them about the scholarship we plan to offer.
• What am I trying to achieve after this presentation?
My clear objective is to get money for the school scholarship which is $50,000
• Why has the audience gathered here?
The audience have gathered here for an potential request for a donation from an Eduacational institute named Langara College, and people have gathered here on making a decision whether the college would be offered with a scholarship or not.
• What is the expectations of the audience from me?
The audience expectations are pretty clear, they want me to elaborate on the scholarship and tell them about the scholarship.
• What do I want my audience to know?
I want to tell the audience all the key elements in the scholarship of how we plan to help the students through this scholarship, how the scholarship will be helpful for students from disadvantaged backgrounds for whom it might otherwise be difficult to afford for the tuition fees, also how a students debts can be reduced with the help of the scholarship. The scholarship will also include mentoring of the students through college courses and work experience during the COOP terms
• What do I want my audience should think?
The audience should think that how a student might become the first in the family to overcome difficulties to achieve high academic standards, also how a student could become an future employee for the firm as the student who will get this scholarship will be more than an average student and it can help the organization in raising an potential loyal employees. How the image of Jim Pattison can act as an mentor for the student to be successful in his life. How an intelligent and needy student will be able to survive college tuition through the scholarship.
• Building a relationship with the prospects at the very end of the presentation for future purposes, for example asking them to ask questions if they have any, talking about the latest Vancouver Canucks and the general normal questions.
PREPARE AN APPROACH WORKSHEET WITH AS MANY APPROPRIATE APPROACHES
Telephone Contact is the basic and the easiest method to to tell the prospect about the information you are selleing, in this case its Jim Pattison whom we have to tell about the about the scholarship and what it is all about and when can we be fix a meeting in order to meet him in person and brief about the scholarship. The important thing while making a call is that a person should be polite and state the purpose of the call and how the prospect can benefit from the meeting.
I personally feel that Email is one of the best way to reach my prospect Jim Pattison, because a person of high standards as Jim it would be difficult to contact him by phone. Via email I would have the chance to elaborate about my purpose about my scholarship, of how the scholarship might help his company and how a meeting with him and his team could help me elaborate on the scholarship.
Selling to the Gatekeeper
Secretaries have most of the power in fixing a meeting with the boss, if my E-Mail doesn't reach Jim or I don't receive any response , meeting the secretary and convincing him to give me a chance of meeting Jim can be an option of last resort. If I am able to convince the secretary with my scholarship fund request the secretary can fix a meeting for me with Jim.
Once the meeting has started I would first thanks Jim Pattison for giving me a chance to present my scholarship case in front of him .Rather than talking on something else I would focus on the Scholarship fund request.
Product Demonstration Approach
Before wasting any time I will come to my topic Scholarship fund raising request. In which I will demonstrate the prospect about what all are we planning to do with the scholarship, our plans, our objectives and the expected time period of the scholarship. I will elaborate of how it will benefits the students with their academics and I will tell the audience all the key elements in the scholarship of how we plan to help the students through this scholarship, how the scholarship will be helpful for students from disadvantaged backgrounds for whom it might otherwise be difficult to afford for the tuition fees, also how a students debts can be reduced with the help of the scholarship.
Customer Benefit Approach
The scholarship will not only help Langara College, but it will also help the prospect in becoming a mentor of so many students and be an inspiration for them. The students will be inspired to be as successful as Jim Pattison is, they will see him as an role model. Also, how a student could become an future employee for the firm as the student who will get this scholarship will be more than an average student and it can help the organization in raising an potential loyal employees.
Normally when someone has presented on a topic in front of many different people there are chances that those people will have questions regarding the presentation, at the end of the presentation I will ask the individuals sitting in the room if they have any questions for me to ask. If they have any questions I will try to remain professional with my answers and try to answer according to the question. This approach can make a deal happen because sometime the prospects are not clear with some parts, by answering to those questions the prospect can be clear of the doubts which can help him further in making a decision.
• CREATE A PRESENTATION PLAN
CREATE A NEED DISCOVERY WORKSHEET-
NEED DISCOVERY WORKSHEET
Type of Questions :
• Open Questions
• Closed questions
• General Survey Questions
• Specific Survey Questions FIGURE OUT WHAT ARE THE QUESTIONS YOU ARE USING IN IT?
Preplanned questions to discover the motives? Customer Response
To what extent your employees remain loyal to your company?
To what extent your company promotes scholarship?
Do you want to be an inspiration, role model for the young generation?
Are you looking for a method to reduce your annual tax payment?
What are your beliefs about the current education system?
Do you believe in education for all, regardless of they being poor, black ,brown or minorities?
According to you, how important education is in the 21st century?
What causes you would say you are most passionate about?
What are your expectations?
What kind of legacy you want to have?
Which thing inspired you to make your first donation?
Do you have any feedback for us?
NEGOTIATION WORK SHEET
THAT PROVIDES ANSWERS/ SOLUTIONS TO POTENTIAL CONCERNS DURING THE NEGOTIATION PROCESS? SEE BOOK CH13 AFTER Pg- 310
Customer's Concern Answers/ Solutions to potential concerns
What percentage of the donation goes to the scholarship? There will be no amount kept aside for the college, all the money would be used only in the scholarship.
The amount requested for the scholarship is a lot more than any other institute have requested in the past? Our institute plans to run the scholarship for more than 15 years that's why the amount is a bit high, as compared to other colleges where scholarships remain for a short period of time.
How can you say that the student can be a future employee in my organisation? With the student majoring in business and your company yourself in a business sector there is a huge probability that the student might land in your organisation and be a future employee in your company.
Am I the only person from whom you are requesting this donation? Yes, for now you are the only person which matched the criteria for our scholarship donation request.
Are their any chances that the scholarship money would finish before the expected time of minimum15 years? The chances for that at very slim as we plan to keep the money in a saving account and earn interest from that and continue the scholarship for many coming years
How can you assure that the money given to a student for the scholarship will only be used by the student for academics not for anything else like drugs etc? Rather than giving a cheque to the student for the scholarship ,the money that the student will receive would go to his student fees account and the amount would be kept there and when the student register for courses he would have money in that account which will be automatically paid off. Ensuring the money is only used for academic purposes.
PRESENTATION AND SELLING TOOLS PACKAGE.
WILL DO IT TOMORROW
Closing Clue Given by the Prospect. Closing Method Closing Statement
After going through my proposal and the presentation, a look of satisfaction giving an non verbal clue.
Direct Appeal close Great! When can the institute get the check for the scholarship.
After they had asked me a question and they look satisfied with my answer, and didn't asked any other question form my answer. For eg. Would the scholarship be awarded in a fair manner, and will be used by the student for the sole purpose of academics? Assumptive close The institute will ensure that the scholarship is given in a fair manner and the student who gets it uses the money for academics only, the money that the student will receive would go to his student fees account and the amount would be kept there and when the student register for courses he would have money in that account which will be automatically paid off. Ensuring the money is only used for academic purposes. Our institute would be happy to keep you posted on which student gets the scholarship every year, can we sign the documents for the scholarship.
That seems to be a great help for the student for a better future. Direct appeal close Can we confirm the agreement with your signature on the document.
Nodding of head (Non Verbal clue) Direct appeal close Can we get an signature to the agreement.
In which term does the scholarship starts.(Verbal clue) Direct appeal close Can I go ahead and tell the institution that Mr. Pattison is ready to donate.
When can you provide us with the T1213 Tax reductions forms? Direct appeal close When can we expect to receive a check for the scholarship.
The prospect bringing the accountant in the meeting room. Management close Can I confirm the institute that Mr. Pattison is ready to donate for the scholarship.
Service the Sale Worksheet
Method Of Adding value What would I say or do
Providing the prospect with the T1213 Tax reductions forms Providing the T1213 Tax reductions forms at the correct time when the prospect requires it.
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