Managing Business Opportunity—Exercises

Basic Data Setup

Enter Opportunity Sources

Purpose: The purpose of this exercise is to set up opportunity sources.

Windows:

CRM Basic Data/Opportunity Sources

1. Enter XX-OS as the source ID and Phone Call as the description.
2. Enter XXC as the source ID and Campaign as the description.

General exercise for Opportunity Sources

Enter Opportunity Probability

Purpose: The purpose of this exercise is to enter the opportunity probability.

Windows:

CRM Basic Data/Opportunity Probability

1. Enter 100 as the probability ID and 100% as the description.
2. Enter 50 as the probability ID and 50% as the description.

General exercise for Opportunity Probability.

Enter Opportunity Types

Purpose: The purpose of this exercise is to enter opportunity types.

Windows:

CRM Basic Data/Opportunity Types

• Enter XXP as the opportunity type and Products as the description.

General exercise for Opportunity Types.

Enter Opportunity Stages

Purpose: The purpose of this exercise is to enter opportunity stages.

Windows:

CRM Basic Data/Opportunity Stages

1. Enter XX-S as the stage ID and Waiting for Response as the description.
2. Enter XXI as the stage ID and Initial Contact as the description.

General exercise for Opportunity Stages.

Enter Representatives

Purpose: The purpose of this exercise is to set up representatives for a business opportunity.

Windows:
CRM and SRM Basic Data/Representatives

• Enter your person ID as the representative ID.

General exercise for Representatives.

Enter Competitors

Purpose: The purpose of this exercise is to set up competitors.

Windows:
Sales Basic Data/Competitors

• Enter XX10 as the competitor ID and Race Car Company 10 as the competitor name.

General exercise for Competitors.

Enter Competitive Advantages

Purpose: The purpose of this exercise is to set up competitive advantages.

Windows:
Sales Basic Data/Competitive Advantages

• Enter P as the competitive advantage ID and Price as the competitive advantage.

General exercise for Competitive Advantages.

Enter Win and Lose Reason

Purpose: The purpose of this exercise is to set up win and lose reason codes.

Windows:
Sales Basic Data/Win and Lose Reasons

1. Enter XXW as the reason ID, Price Advantage as the reason description and Win as the reason type.
2. Enter XXL as the reason ID, Price not Competitive as the reason description and Lose as the reason type.

General exercise for Win and Lose Reason Codes.

Enter Revision Reasons

Purpose: The purpose of this exercise is to set up revision reason codes.

Windows:
Sales Basic Data/Revision Reasons

1. Enter XXR as the reason ID, Customer Change as the reason description and Revision as the reason type.

General exercise for Revision Reason Codes.

Enter Customer

Purpose: The purpose of this exercise is to enter the customer for which the business opportunity is registered.

Windows:
Customer

1. Enter C.S.C. New York as the customer with customer number XX1000 and customer category Customer.
2. Enter C.S.C. Gothenburg as the customer with customer number XX5000 and customer category Prospect.

General exercise for Customer.

Enter Customer Contact

Purpose: The purpose of this exercise is to enter customer contacts for the business opportunity.

Windows:
Customer/Contact

• Enter a contact for customer XX1000.

General exercise for Customer/Contact.

Create Stored Sales Parts

Purpose: The purpose of this exercise is to enter sales parts used in this exercise.

Windows:
Sales Part

• Enter Race Car as the sales part with XX18-100 as the sales part number.

General exercise for Sales Part.

Main Exercise

Purpose: The purpose of this lesson is to understand how to create and work with business opportunities.

Windows:
Business Opportunity

Enter Business Opportunity for a Customer

C.S.C. New York normally only buys Street Cars, but according to a phone call from your contact at the customer company, they are also interested in buying five Race Cars. Therefore, you register a business opportunity for this customer.

1. Enter a business opportunity with a description for customer C.S.C. New York. Enter Phone Call as the source and 100% as the probability.
2. Select the main contact.
3. Optionally, change the main representative
4. Enter Products as the opportunity type and Waiting for Response as the opportunity stage. Enter an estimated value, an expiration date and an estimated sign date.
5. Create an opportunity line for 5 pieces of part XX18-100.
6. Change the status to Confirmed.

Note: Assume that the customer has replied that they will order 5 Race Cars.

8. Right-click on the header and then click Create Order. Enter XXW as the reason why IFS Racing won the business opportunity. Select the Close Business Opportunity check box.
9. View the status in the header and in the History tab.
10. View the created customer order by right-clicking and then clicking View Customer Order.
11. Review the customer order.

Enter Business Opportunity for a Prospect

After running a marketing campaign IFS Racing has received a response from one prospective customer who might be interested in buying ten cars. They have not specified exactly what type of cars they want yet but you want to follow up this opportunity and therefore you register a business opportunity for this prospect.

1. Enter a business opportunity with a description for customer C.S.C. Gothenburg. Enter Campaign as the source and 50% as probability.
2. Enter Products as the opportunity type and Initial Contact as the opportunity stage. Enter an estimated value, an expiration date and an estimated sign date.
3. Add customer contacts
4. Add XX10 as a competitor.
5. Create an opportunity line. Select the Non-Existing Part check box. Enter a part description and quantity.

Note: The customer contacts you and asks for a quotation for 10 Race Cars.

6. Create a new revision of the business opportunity. Enter XXR as the reason for this.
7. Create an opportunity line for 10 pieces of part XX18-100. Activate the revision and change the opportunity status to Confirmed.
8. Right-click and then click Create Sales Quotation.
9. Review the sales quotation.

Note: You call the customer to follow up the opportunity. They need more time to compare quotations and decide exactly what they want to buy.

11. Right-click on the header and then click On Hold to set the opportunity on hold while you are waiting for a response from the customer.

Note: After some time you call the customer again to follow up the opportunity and the quotation. They reply that they have received a better price from Race Car Company 10.

10. Right-click on the header and activate the opportunity. Then click Close Opportunity. Select Lost as the Closed Status. Enter that IFS Racing lost the opportunity to competitor XX10 and enter Price as the reason for this.
11. View the status in the header and in the History tab.