Question

For the product market situation - Cox and Kings (Travel Agency) for franchisees, attempt the following questions: a. Draw the factorial chart b. Develop the possible case of pyramid sales c. Explain the selling perspectives on the dimensions of sales triad d. Docket the requisite selling skills needed e. Illustrate how the change in market will require different selling skills f. Develop the FABV Format

Answer 1

Cox and Kings franchise dynamics, represented by a factorial chart, involve a pyramid sales structure with requisite selling skills emphasizing product knowledge, adaptability to market changes, and a FABV format highlighting features, advantages, benefits, and value. Reference to the actual market situation would provide more precise insights.

Step-by-step explanation:

a. Factorial Chart for Cox and Kings (Travel Agency) Franchise:

- Factors:

1. Franchisee Location

2. Market Demand

3. Competitive Landscape

4. Support and Training

5. Brand Reputation

6. Marketing Strategies

7. Financial Investment

8. **Regulatory Environment**

- Levels:

- High, Medium, Low for each factor

b. Possible Case of Pyramid Sales for Cox and Kings Franchise:

Pyramid sales involve tiered levels of recruitment and sales. In the context of a travel agency franchise, this could entail:

- Top Level: Corporate office or master franchise holders

- Middle Level: Regional franchise holders

- Bottom Level:Individual franchisees selling travel packages

c. Selling Perspectives on Dimensions of Sales Triad:

- Product Knowledge: In-depth understanding of Cox and Kings travel packages.

- Customer Understanding: Tailoring packages to diverse customer needs.

- Market Awareness: Staying informed on travel trends and competitors.

d. Requisite Selling Skills for Cox and Kings Franchise:

- Communication: Effective communication of travel offerings.

- Negotiation: Negotiating deals with suppliers and customers.

- Relationship Building:* Establishing partnerships with local businesses.

e. Change in Market and Required Selling Skills:

- Market Shift to Digital: Requires digital marketing skills and online sales proficiency.

- Changing Travel Preferences:Adaptability to promote unique experiences.

- Global Events Impact: Crisis management skills during unforeseen events affecting travel.

f. FABV Format for Cox and Kings Franchise:

- Features: Diverse travel packages, global partnerships.

- Advantages: Exclusive deals, personalized customer service.

- Benefits: Stress-free travel planning, memorable experiences.

- *Value:* Unmatched convenience and satisfaction for travelers.

Note: The specifics may vary based on Cox and Kings' actual market situation and strategies, and these responses are generalized.