The document discusses the purpose and benefits of sales budgeting. It states that sales budgets serve two purposes - as a mechanism of control and an instrument of planning. Budgets help define resource requirements and act as an effective tool for controlling firm performance. The document also outlines the types of budgets, including sales, selling expense, administrative, and profit budgets. It describes different budgeting methods like affordability, percentage of sales, and return-oriented. The key steps in developing a sales budget are also summarized.
The sales funnel explained ... in simple terms.
Swipe through the slides below to find out more about the sales funnel and why you need one for your professional service business.
The sales funnel explained ... in simple terms.
Swipe through the slides below to find out more about the sales funnel and why you need one for your professional service business.
Sales organization is a part of the total organization which is given the responsibility of selling of products manufactured by a company
It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
It is concerned with planning, organizing, leading and controlling the activities of the sales force
Theory Of Personal Selling
1) Introduction of Personal Selling
2) Step in Personal Selling
3)Theory of Personal Selling
a) AIDAS Theory
b) Right to set of circumstances Theory
c) Buying Formula Theory
d) Behavioural Equation Theory
This presentation is an introduction to the role of IMC in marketing.
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Sales Management is the process of current exchanges of goods - and thus sales management forms an integral part of Marketing Management. A significantly broader meaning is assigned to sales management as it also encompasses managing the sales functions and the sales force.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This Slideshare is the sole Property of the Welingkar School of Distance Learning – Reproduction of this material , without prior consent, either wholly or partially will be treated as a violation of copyright.
Advertisement Creative strategy & creative tactics & formatsNijaz N
A creative strategy defines the important strategic choices required to develop a marketing message.
The creative strategy (often called a copy or advertising strategy) defines what you will say about your product or service.
It explains how you want consumers to think about your Brand.
Covers an introduction to communication theory relating to integrated marketing communications in marketing.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
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Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Sales organization is a part of the total organization which is given the responsibility of selling of products manufactured by a company
It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
It is concerned with planning, organizing, leading and controlling the activities of the sales force
Theory Of Personal Selling
1) Introduction of Personal Selling
2) Step in Personal Selling
3)Theory of Personal Selling
a) AIDAS Theory
b) Right to set of circumstances Theory
c) Buying Formula Theory
d) Behavioural Equation Theory
This presentation is an introduction to the role of IMC in marketing.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
Sales Management is the process of current exchanges of goods - and thus sales management forms an integral part of Marketing Management. A significantly broader meaning is assigned to sales management as it also encompasses managing the sales functions and the sales force.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This Slideshare is the sole Property of the Welingkar School of Distance Learning – Reproduction of this material , without prior consent, either wholly or partially will be treated as a violation of copyright.
Advertisement Creative strategy & creative tactics & formatsNijaz N
A creative strategy defines the important strategic choices required to develop a marketing message.
The creative strategy (often called a copy or advertising strategy) defines what you will say about your product or service.
It explains how you want consumers to think about your Brand.
Covers an introduction to communication theory relating to integrated marketing communications in marketing.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Modern Marketing Practices-Marketing Control Types & strategies-Green MarketingVenkat. P
Marketing Department – Marketing Control & Types of Control. Modern Marketing Practices – Green Marketing, Cause – related Marketing, Mobile Marketing and Online Marketing.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
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Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
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When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
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Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
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Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
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Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
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The What, Why & How of 3D and AR in Digital Commerce
Sales Budget
1.
2. Purpose
Sales budget serves two purposes – it is a mechanism
of control and an instrument of planning.
Budgets clearly define the resources require for
performing activities that help an organization achieve
its goals and act as an effective tool for controlling firms
performance.
Should be developed by those responsible for
achieving the stated objectives.
Generally a firms budgeting process depends on the
revenues it has been getting.
3. ….it is a Mechanism of control
Controlling and planning are inter-linked and one is
useless without the other.
Budgeting in itself is a controlling process.
It emphasizes on controlling the deviations.
4. …is an instrument of
Planning
Is the process of determining a future course of
action for helping employees trend a path.
Forecasting sales, scheduling the production
process and budgeting the expenditure for the
organization are part of planning.
Should be followed diligently by all.
5.
For budget to act as an effective planning tool,
they must be developed very carefully by
following certain steps – assessing the previous
years financial performance, connecting the
current years expenditure and programes with
long term strategies, developing short term
activities to achieve long term activities and finally
communicating plans to all those concerned.
The next step is to identify the best ways to
achieve these goals and to assess the
expenditure that will be so incurred.
6. Benefits of Budgeting
1) Improved Planning --
It enhances the quality of planning as it
describes the actions to be taken in
quantitative terms.
Although budgeting process can only guide
the firm to follow a path that will lead to
profits, it definitely helps improve planning.
7. 2) Better Communication and Co-ordination—
As budgeting gives the future course of
action in quantitative terms for functions like
sales, production, personnel tec.., it forms
the basis for co-ordination within the
organization.
8. 3) Control and Performance Evaluation--
Any deviation from the plan can be easily
identified by conducting periodic reviews.
This will help the management to take
necessary steps to rectify the situation.
9. 4) Psychological Benefits--
Budget instills a sense of profit
consciousness in employees.
Budgetary controls remain in the minds of
sales personnel and encourage them to
achieve the sales target with the least
possible expenses.
10. TYPES OF BUDGET
1) SALES BUDGET
Is a detailed plan showing the expected sales for a
future period.
It is developed based on expected revenues from the
sales.
It is the first part of master budget and forms the budget
for the basis for other operational budgets like finance
and production budgets.
11.
2) SELLING EXPENSE BUDGET
Is a plan that gives expenses that would be incurred by
the sales department to achieve the planned sales.
These expenses could be salaries or commissions,
travelling and entertainment expenses.
Allocating a percentage of sales.
Cost incurred in training a salesperson when a new
product line is added should be included in the selling
expense budget.
Finally this must be closely linked with the Sales Budget.
12.
3) ADMINISTRATIVE BUDGET AND
PROFIT BUDGET
It comprises the budget allocation for general
administrative expenses such as rent, electricity, office
furniture, stationary and other costs incurred by the
sales department.
In profit budget, the gross profits are calculated by
deducting the sales expenses from the revenues
generated by the sales department.
14. 1) Affordability method
Is a process where the management develops
the sales budget depending on its ability to
spend on sales functions.
Here a firm develops the budget based on
whether it can afford to spend a certain amount
for selling it goods.
15. 2) Percentage of Sales
Is used for developing by multiplying sales
revenue by a given percentage.
The sales revenues used may be a past sales
revenue figure or a forecasted figure.
Sometimes, even a weighted average of the two
is used.
16. 3) Competitive Parity
In this method, the sales manager sets the
budget based on the budgeted figures of the
competitors or the industry average.
The budget is based on a comparable base size and revenues.
17. 4) Objective and Task
The management develops the budget the
budget based on the objectives to be attained.
Involves 4 steps :
1.
2.
3.
4.
Identification of objectives of the sales department.
Next, the tasks to be performed for achieving the
objectives are specified.
Third step involves determining the expenditure required
for the tasks.
Fourth step involves adding all the above expenses to
arrive at a final figure for the purpose of budgeting.
18. 5) Return Oriented method
The methods like return on investment (ROI),
return on assets (ROA), return on total assets
(ROTA)return on asset managed (ROAM) are
some tools that help managers to develop a
sales budget.
It helps the sales managers analyse the impact
of a particular sales cost allocation on
revenues and profits generated by sales.
19. Procedure for developing a
sales budget
1)
2)
3)
4)
5)
6)
7)
Review and Analysis of situations
Identifying Specific Market Opportunities and
Problems
Sales Forecasting
Communicating Sales Goal and Objectives
Preliminary allocation of resources
Preparing the budget
Getting Approval
20. 1) Review and Analysis of
situations
Involves collection of past data pertaining to
the company’s budgets for previous years
and identifying any variations between
planned and actual performances.
This helps in taking necessary precautions in
developing the current budget.
21. 2) Identifying Specific Market
Opportunities and Problems
Opportunities
and Problems that
confront the sales management can be
assessed from situational analysis.
22. 3) Sales Forecasting
Forecasting is done product –wise,
client-wise and territory-wise.
Is done for both, unit-wise sales and
rupee-wise sales, so that deviation can
be easily identified.
23. 4) Communicating Sales Goal and
Objectives
After sales forecasting, the next important
step for sales manager is to communicate
the goals and the objectives to the sales
department.
By encouraging them to participate in the
development, a sales manager can obtain
mutual agreement on them.
These objectives should be prioritized.
24. 5) Preliminary allocation of
resources
Resource allocation starts from selecting
salespeople, assigning tasks to them, giving
salespeople sufficient tools and most
important, enough financial resources to
cover their expenses.
25. 6) Preparing the budget
Sales budgets have to be prepared by
striking a balance between the potential of
the sales force and the true nature of market
opportunities.
It should be flexible.
26. 7) Getting Approval
In the final step, the sales department
seeks approval of the budget prepared.
Once the budget is prepared it may
need modifications owing to
environment changes.
27. SALES AUDIT
An Audit is a periodic review of a business
activity.
It lets the auditor identify problems and
concern areas, if any.
A sales audit, also known as sales force
management audit, is a cross functional
exercise that evaluates the entire selling
operation in a company.
28.
A sales force management audit covers the sales
management environment, sales management
organization evaluation, sales management
planning system and sales management
functions.
Evaluation of the firms sales force management
process helps the sales manager improve
performance of sales force and effectively
allocate resources for achieving the sales
objectives.
29. Elements of Sales Audit
1)
Sales Management Environment
2)
Sales Management Planning System
3)
Sales Management Organization Evaluation
4)
Sales Management Functions
30.
31. 1) Sales Management Environment
It involves the study of intra organizational and
extra organizational factors that affect the sales
management policies and practices of a firm.
Intra organizational factors help to ensure that
the sales department objectives are in
consonance with the overall objectives of the
firm.
32. 2) Sales Management Planning System
The focus of the sales audit is on the objectives
of the sales department, sales management
programme and its implementation.
The auditor examines the compatibility of the
sales department’s objectives with those of the
marketing department and the firms overall
objectives.
The sales management program is audited to
identify strategies adopted by the sales
department to achieve its objectives.
33. 3) Sales Management Organization Evaluation
This involves evaluating the competence of
sales managers and sales representatives
and recommending appropriate measures
to improve the sales team’s effectiveness.
The appropriateness of the programmes is
also examined by the auditor.
34. 4) Sales Management
Functions
It involves in depth verification of various
aspects of sales management such as
recruitment and selection, sales training,
compensation and expenses, motivation,
sales forecasting, budgeting, quotas, sales
territories, sales and cost analysis,
profitability analysis and sales force
evaluation.