Question

Sales Management

Answer all the following questions:                                    

1. Demonstrate a strategy for sales men to manage their time more effectively.

2. Identify the several kinds of sales goals that may be set by a sales organization.

3. Describe the ways sales forces might be specialized to market new product of Chanel.

4. Clarify the various steps of sales planning discussing to any product of your choice.

 

Answer 1

Strategy for salesmen to manage time more efficiently:

1. Focus on one job at a time: Multitasking is considered as one of the most time-efficient and productivity improvement tools. However, in the sale field, multi-tasking might result in improper devotion to customers or strategy, the inefficiency of a particular job out of multiple jobs, sincerity in the execution of a plan can be the points of issue for a salesman. Therefore, it is advised to focus on the execution of a particular task and devote the remaining time to others once the first activity is finished to improve overall efficiency.
2. Don't run for shortcuts: Shortcuts are never a solution for a deeper problem. The shortcuts might be helpful for the short runs and quick resolution of issues but in the longer run, it affects the reputation of the salesman as well as the brand being represented by the salesman.
3. Plan and execute: Before the execution of a strategy, it is very important to do sufficient planning and research. Without proper research and an execution plan, the strategy is almost as effective as the random approach towards a solution to a problem. The homework of planning helps in getter a deeper understanding of subject knowledge and equips with the tools of productivity and success for a salesman.
4. Cut the clutter and non-essential tasks: In order to come up with a strategy, the salesman sometimes tries to expand the domain as much as possible to fit the solution instead of narrowing down the domain and identify with the most appropriate strategy of sales. The silver bullet to a problem is a myth and these strategies have their own trade-offs and compromises. However, letting go of the non-essential and small factors of the planning can help in improving the execution of the strategy for a salesman.

 

Potential sales goals that may be set by a sales organization

1. The match-up with the forecasted demands: The ideal way to go is to keep a goal to match up with the forecasted demand of the product of the next month by using the data and analytics of previous year demand data and forecasting methods.
2. Growth on month-on-month (MoM) or year-on-year (YoY): The other way round for sales goals is to set a particular target first and utilize the resources to achieve that target in comparison with the previous month or year.
3. Increment in the 5% or the market share: The simplest way is to target the growth of 5% of the current goal. This is one of the incremental efficiency approaches of the sales in which the target is increased with the increase of the incentives to achieve the target by the team of salesmen.

 

Methods to specialize to market new products of the channel:

• Do proper market research.
• Understand the buying patterns of the customers.
• Use data and human behavior analytics.
• Try to get the primary source of data from the end sellers and distributors to actually check and verify the nature of demand.
• To take the help of the market research agencies and consultancies.
• To use social media to understand consumer demands and patterns.

 

Steps of sales planning:

Product of choice: Oreo Biscuits

• Understand the Market: The first step is to understand the market and do thorough research on the significant factors affecting the market. Such as age groups, demographics, geography, gender preference, competitors in the market, selling channels, distribution channels, etc.
• Identify potential buyers: The identification of the target customers is one of the most critical factors of the selling. In this case, the biscuits are mostly liked by the kids and children of the school, educational institutes, and college students.
• Decide the target locations: Based upon the identified potential buyers of the above categories, the salesman should define the areas and locations where there is a potential of getting most of the above group of customers. In this case, targeting school canteens, college cafeterias, common grocery stores of society, etc. can be a point of high-value sales.
• Define the selling strategy: Before the selling process actually begins, the sellers should identify the merits and demerits of their product to choose the best strategy of their selling point in the pitching process and why should these distribution channels consider your product. The right approach can prove more conversion rates. For example, a product from a reputed brand goes hand in hand with distributors and sellers, including the trail package, and the tester can help customers to get familiar with product.
• Take the feedbacks: The most constructive way of a strategy is to take the feedback from their audience, here sellers and distributors. This will not only help in improving the next selling strategy but also gives critical insights into product development and imp
• Improvise and Adapt: After taking the feedbacks from above into consideration, redesign the strategy to suit the upcoming plans of selling and marketing events of the product. Sometimes, a common strategy works for all or sometimes you need to create a specific strategy for a specific type of environment variable.