What is CBD?“Cannabidiol, better known as CBD, is a popular natural remedy used for many common ailments. It is one of over one hundred chemical compounds known as cannabinoids found in the cannabis or marijuana plant”(Kubala, 2018).
The Irish nation is more health-conscious than previous generations and supplementation is growing increasingly more popular year on year. Cod Liver Oil, Calcium and iron are among the top sellers of Vitamins, minerals and supplements in Ireland. With that said, according to (Mintel Academic, 2019) cod liver oil products could see a greater level of competition from CBD products. Since CBD claimed to be effective in the treatment of joint pain. 68% of the Republic of Ireland consumers claimed that they would be willing to find out if CBD based products could help them with their health issues.
CB1 Botanicals are an Irish company that produces CBD oil. It is one of two companies in Ireland that are compliant with FSAI (Food Safety Authority) rules. The rules state that only cold-pressed CBD oils can be sold in the Irish Market. However, most CBD products on the shelf, are CO2 extracted. These are classed as novel food; therefore, require authorisation from the European Union to be sold (Fsai.ie, n.d.). Although this rule has not been enforced, when it is; currently only CB1 Botanicals and Celtic Wind will be allowed to stay on shelves.
CB1 Botanicals maintains best practices that promote environmentally friendly growth. The company also removed 265 tonnes of carbon from the environment in 2019. The company have full control of their supply chain and all their work from seed to bottle is heavily monitored and regulated(Cb1botanicals.com, 2020).
CB1 Botanicals have a range of three products. All 30ml bottles, each with a different dosage of CBD, 300mg, 500mg and 1500mg. Each strength comes in an original or peppermint flavour.
As a result of its processes, the company is certified organic. This is one USP that they have over Celtic Wind.
Celtic Wind is an Irish-Owned company that was set up in 2012 “to capitalise on the growing demand for ancient crops and grains – and create a sustainable future for people and the planet with hemp” (Celtic Wind, 2020).
Like CB1 Botanicals, the company also have full control of their supply chain. Celtic Wind has a full range of CBD Oils, Capsules, Powders, Petcare and skincare. While some stores may only sell their oil, they also have access to their extensive portfolio to diversify the store’s product offering.
Celtic Wind is the only CBD oil that is currently on the shelf in Boots and Lloyd’s Pharmacies across Ireland. The CBD market has plenty of competition; However, Celtic Wind is the current market leader due to its vast distribution in Ireland.
Celtic Wind’s USP’S:
The objective of the sales presentation is to underline the business benefits that Superdrug Pharmacy could avail of should they agree to an initial order proposal of our product. This will be a dynamic presentation covering a business projection along with a playbook covering multiple items, such as:
As R. Peter (2019) states, B2B salespeople must understand their customers’ value to develop an appropriate bundle of benefits that will allow them to win their customer’s business on a repeatable and sustainable basis”. Therefore, the main goal of this sales pitch is to cover all the above stated and to build awareness of our CBD Multi- Complex products. We want to provide all the information about this product and its benefits.
The retreat objective of this presentation intends to impact the buying centre, the decision-making people tasked with the responsibility of analysing if this new line of products will have a positive impact on new business growth, and the return of investment usually projected through a forecast. According to McWilliams et al. (1992), there are as many as ten people that can be involved in the purchasing decision when it comes to acquiring a new product. Providing this information in the sales presentation will picture a possible forecast already, therefore gaining advantage and opening the ground for further meetings to successfully close a sale.
Asking revenue-based or cost-based penetrating questions to the decision-making people can help identify multiple everyday needs which can be used by the salesperson to build up a bundle of benefits sufficiently robust to win the business.
1. Profitability questions:
What do your buyers appreciate the most and the least about your products?
Are your successful sales against competitors based on brand, price, quality? Which are the most important?
2. Costs related questions:
How do you keep your competitive advantage in the market?
How important is the cost of rapid order fulfilment?
Do you operate globally?
On a scale from one to ten, how important is the provenance of your shelf products (locally sourced, etc.?)
Do you compare cost and quality?
3. Business-related questions:
How many competitors do you have?
What type of threats do you see for your organisation?
What is the company policy regarding bio and locally sourced products?
Objections are a natural thing to have when conducting a business transaction.
We will be willing to work with you throughout the negotiation to agree on terms that work best for both parties.
Two negotiation techniques that could be used are “the well is dry” and “divide and conquer”. If the “well is dry” tactic is used, the negotiator illustrates that there is no scope for further negotiation and thus the deal would either go ahead or not at all. This tactic is considered a dangerous one, as the other party present in the conversation might end up with a halt. The Members in the organisation will have a completely different set of motivations with the inclusion of desires that stays in good terms. Individuals need to remain on good terms and understand the behavioural languages followed by this; an assessment can be tested (Fleming and Hawes, 2016). When the individual takes their eyes off the substantive ball then teams can gain control of the proceedings. Thus, when one of the team disagrees, then the other team can take the side of the winning points against the internal opponents.
The second negotiation tactic is used to divide and conquer, which is considered as the most common negotiation tactic that is used in industrial selling. This is because many people are
involved in the process of buying. The salesperson approaches each of the individuals in turn and gets agreement for moving ahead provided that the other should agree to it. Thus, there is no one left to create a veto situation for dealing. It is quite common that the negotiating team members would have different viewpoints wherein some of the points would be hard-line while the rest will be moderate (Nielson and Border, 2016). Divide and conquer is one such tactic which is when explained to the customers, met heard is “yes, that is what exactly should be done”. This tactic is brilliant; however, traditional sales tactics that are mostly used by the sales force over the years. The higher the client organisation is, the better this tactic becomes for the sales force.
The closing technique that will be used to accomplish the sales target is soft close. The soft close refers to the Way in which the prospects are shown with the benefits of the products. The potential customers are then asked a low impact question that would open the Way for learning more. For example: If the maintenance of the widget gets reduced by 25% and the productivity of the widget gets increased by 15%, then will they be interested in learning more about it? The salesperson, in this case, has clearly illustrated the benefits without making any significant demands (Adamashvili and Fiore, 2017). If the previous example is too direct, then the salesperson can also ask the same in a different tone For instance: If the maintenance of the widget is reduced by 25% and productivity is improved by 15%, then will it be in alignment to the goals of the company? The Way of asking this kind of question eliminates the requirement of commitment.
We will follow up with you regularly throughout the tenure. We will send out a representative each quarter to assess how the product is doing and to provide top-up training for existing staff and even some more in-depth training for any new staff you may have hired. We are aware that certain times of the year will be hectic, like Christmas, but due to the nature of our product, we know that exam periods can also be a busy period. We will contact you to discuss your sales leading up to these busy periods and discuss whether you will need extra stock allocated to you during these times. This allocation will all be at no additional charge to you, as we will advance the following months stock order.
We know that as a business with a high volume of customers on a day to day basis, it is not feasible for us to contact you week-in-week-out. Our support team are on hand whenever you need them, and they are highly capable of working out any issues that may arise.
In the first four months, we will call you to check-in and see how the product is doing and see if it has had any impact on your sales within the store. As we have got some new products in our forecast, we will send you regular updates on the progress of these products, and should you wish to incorporate them into your stock, we will send out a sales rep to discuss further.
This, of course, is all done with your permission, should you choose to opt-out – we will contact you a few weeks after the products have gone live on your shelves and any further contact will be on an as-needed basis.