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The Promotion Strategy: Developing & Managing Sales

The Promotion Strategy: Developing & Managing Sales. Planning, Directing, and Evaluating Sales Section 13.2. Planning, Directing, and Evaluating Sales - Section 13.2. Planning Sales Involves determining the goals and time of sales efforts. It also includes: Making sales forecasts

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The Promotion Strategy: Developing & Managing Sales

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  1. The Promotion Strategy:Developing & Managing Sales

    Planning, Directing, and Evaluating Sales Section 13.2
  2. Planning, Directing, and Evaluating Sales - Section 13.2 Planning Sales Involves determining the goals and time of sales efforts. It also includes: Making sales forecasts Determining sales budgets Establishing territories where necessary
  3. Planning, Directing, and Evaluating Sales - Section 13.2 Objective: Effective sales operations are developed through careful planning, directing, and controlling.
  4. Planning, Directing, and Evaluating Sales - Section 13.2 Forecasting Sales Sales forecast is an estimate of sales for a given period, such as the next quarter. Your market analysis should estimate the market share you think your business could obtain.
  5. Planning, Directing, and Evaluating Sales - Section 13.2 Forecasting Methods for established businesses Surveys Data Analysis Operational Analysis – operation of the company is analyzed Sales volume Capacity
  6. Planning, Directing, and Evaluating Sales - Section 13.2 Budgeting Sales Sales budget Selling expense budget Administrative sales costs budget These budgets, as well as the sales forecast, can give you criteria for judging performance.
  7. Planning, Directing, and Evaluating Sales - Section 13.2 Establishing Territories Sales territory is a geographical area in which existing and potential customers are grouped. If you market covers a wide geographic area, setting territories ensures market coverage, reduces selling costs, and improves customer relations.
  8. Planning, Directing, and Evaluating Sales - Section 13.2 Establishing Territories continued 3 Step Process Determine the probable areas Determine sales potential or time needed to cover the proposed territories Make adjustments and decide on boundaries
  9. Planning, Directing, and Evaluating Sales - Section 13.2 Selling Sales Quotas Sales quota is a performance goal assigned to a sales person for a specific period. Purpose Indicates strong and weeks areas in sales operations Provides incentives for workforce Improve effectiveness of your compensation plans Control spending
  10. Planning, Directing, and Evaluating Sales - Section 13.2 Selling Sales Quotas continued 4 approaches to setting quotas Base quota on territorial sales potential Set quotas in relation to your company’s total sales forecast. Base quotas on your judgment Use past sales as a guide after your business is in operation. What are the disadvantages of setting quotas?
  11. Planning, Directing, and Evaluating Sales - Section 13.2 Directing Sales Operations Motivate your employees Compensate your Sales Staff Straight salary Straight commission A combination of salary & commission Salary – regular wages an employee receives from an employer Commission – fee for services rendered based on a percentage of an amount sold
  12. Planning, Directing, and Evaluating Sales - Section 13.2 Handling Expenses & Transportation Supervising Your Sales Force Personal contact Sales report – an account of sales activities Provides a way to monitor and evaluate outside sales activities Electronic communication Meetings
  13. Planning, Directing, and Evaluating Sales - Section 13.2 Adjusting to Sales Environment Changes SWOT analysis – a strategic planning technique that analyzes a company’s internal strengths and weaknesses, and studies opportunities and threats in the external sales environment. Allows you to stay on top of the sales environment, plan beyond short-range adjustments, assess the sales operations, revise promotional and marketing plans.
  14. Planning, Directing, and Evaluating Sales - Section 13.2 Maintaining Morale Morale – stat of individual psychological well-being based upon a sense of confidence, usefulness, and purpose. Foster a positive work climate and productive interaction among members of the sales force
  15. Planning, Directing, and Evaluating Sales - Section 13.2 Evaluating Sales Performance The final step in managing your sales operation Evaluating the Company’s Sales Performance Analysis of sales volume Marketing costs analysis
  16. Planning, Directing, and Evaluating Sales - Section 13.2 Evaluating Individual Sales Performance Establish guidelines Identify factors to be measured Set standards for performance Compare performance to standards Discuss results with sales people
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