Sales person
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This document summarizes key aspects of sales management and territory planning. It discusses the importance of the sales force in generating revenue and representing the company. It outlines the responsibilities of salespeople in having product knowledge, building relationships, and providing market feedback. The document also describes how defining sales territories can help optimize coverage, workload distribution, and performance evaluation. Finally, it briefly touches on the importance of sales planning and motivation.
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This document discusses various aspects of sales force management strategies and their relationship to business performance. It addresses selling strategies like relationship selling versus transactional selling, the internalization of selling activities, the extent of managerial supervision of salespeople, and the focus of salesperson control. It also discusses salesperson compensation plans, market intensity, and cost leadership strategies. The key factors that influence business performance according to this document are the type of selling strategy employed, the level of supervision and control over salespeople, and the sales compensation structure.
Design and size of sales territories
A sales territory is composed of a group of customers or a geographic area assigned to a salesperson.
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This document discusses how sales compensation management can drive business performance and profitability. It states that sales compensation management enables companies to align salespeople, channel partners, and other groups with corporate strategy. It also allows companies to influence key metrics like revenue, product sales, customer profitability, and overall business performance. The document provides examples of how sales compensation plans can be tailored to encourage specific behaviors that impact profits, such as reducing discounting, minimizing channel conflict, promoting strategic products, and selling optimized product mixes. It argues that sales performance management automates compensation administration, ensures incentives are tied to strategy, and helps companies evaluate how incentives influence business results.
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The document discusses sales budgets, quotas, and sales territories. It provides details on:
- How sales budgets are made based on sales forecasts and help plan resources to achieve sales objectives.
- The purposes of sales budgets which include profit planning, coordination between departments, and performance control.
- How sales quotas are set as goals for marketing units and used to measure, control, and motivate performance.
- Different types of quotas including sales volume, financial, and activity quotas.
- Methods for setting quotas such as territory potential and executives' judgment.
- What sales territories are and factors that influence them such as size, market potential, and salesperson assigned.
- Steps in territory planning like salesperson capacity
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Sales forecasting is the prediction of expected sales , by product or price for a number of months or years
Chapter 2 strategic sales force management
The document discusses strategic sales force management. It covers integrating marketing and sales functions, with sales providing market intelligence and marketing providing sales tools. Strategic planning involves setting objectives, strategies, and tactics at the company, marketing, and sales force levels. As marketing strategies are developed, corresponding sales force strategies and tactics are determined. Relationship marketing and multiple sales channels/relationships are also discussed.
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The document discusses managing a sales force including designing the sales force structure, recruiting and selecting sales representatives, training the sales force, supervising and motivating sales representatives, and evaluating sales force performance. It also covers personal selling principles such as developing sales professionalism, negotiation skills, and relationship marketing strategies. The objectives of managing the sales force are to meet sales and profitability targets, satisfy customers, and improve selling, negotiation, and relationship-building abilities.
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This document discusses sales quota setting, including the purpose, types, and methods of setting sales quotas. Sales quotas provide goals and incentives for salespeople and a way to control and evaluate their performance. There are different types of quotas including sales volume quotas based on past sales or market estimates, financial quotas to achieve profit goals, and activity quotas relating to selling activities. Properly administering the quota system through accurate, fair, and attainable quotas as well as gaining salesperson acceptance is important to realize the full benefits of quotas for control and cooperation.
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This document discusses strategic marketing planning and provides an example of how it works. It explains that strategic marketing planning must encompass all levels of an organization and includes laying out target markets, value propositions, promotion, merchandising, pricing, sales, and service. It also notes that strategic planning involves performing a SWOT analysis, outlining specific and measurable goals, formulating strategies to achieve those goals, implementing the plan, gathering feedback, and improving over time.
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Strategic planning consists of 3 key actions: 1) Managing a company's portfolio of businesses, 2) Assessing each business' strengths in the market, and 3) Formulating plans for each business to achieve long-term objectives. It involves analyzing markets, designing strategies, and implementing marketing efforts to communicate value to customers. Competitive strategies depend on whether a company is the market leader or a challenger, and may include defending market share through innovation or expanding into new areas for the leader, and flank or encirclement attacks for the challenger.
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Sales objectives are targets for how much of a product or service a company aims to sell. They should be specific, measurable, achievable, realistic, and time-bound (SMART). Multiple quantitative and qualitative factors should be considered when setting sales objectives. Quantitative factors include historical sales trends, market potential, and budget/profit projections. Qualitative factors include economic conditions, competition, and the company's mission. Sales objectives can be set using outside macro analysis of total market sales and projected market share, inside micro analysis of past company sales trends, or expense-plus analysis of required sales to cover costs and profits. The objectives should then be reconciled and adjusted based on qualitative factors. Sales forecasts help implement the objectives and can utilize
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Strategic planning is carried out at different levels of an organization. At the corporate level, headquarters define the mission, establish business units, assign resources, and assess growth opportunities. Each business unit then develops its own strategic plan through defining its mission, analyzing strengths/weaknesses/opportunities/threats (SWOT), setting goals and objectives, developing strategies, and implementing programs with feedback and control. The strategic planning process aims to align business units with the overall corporate mission while allowing for independent growth strategies.
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The document discusses monitoring and evaluating the performance of salespeople. It outlines the need and objectives of monitoring, including controlling sales efforts and gaining insight into individual performance. It describes establishing sales goals and performance standards, comparing actual performance to standards, and providing periodic feedback. It also discusses information sources for evaluation like company records and salespeople reports, as well as methods of evaluation that involve or do not involve the salesperson.
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Here are two potential issues when salespeople are asked to set their own quotas:
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How is strategic planning carried out at different levels of the organization
How is strategic planning carried out at different levels of the organization
Winning markets through market oriented strategic planning
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How is strategic planning carried out at different levels of the organization?
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This document discusses sales quotas and quota setting procedures. It defines what sales quotas are and their purposes. There are different types of sales quotas, including sales volume quotas, profit quotas, and activity quotas. The document outlines the quota setting procedure which involves setting parameters, adding expected growth, and allocating individual quotas. Sales territories are also discussed, including what they are, different types, and elements of territory management.
The Effective Sales Executive
The document discusses the roles and responsibilities of sales executives. It describes their main functions as making decisions, planning short-term sales strategies, and overseeing the sales organization. Effective sales executives must be able to define duties, delegate tasks, utilize time efficiently, and exercise strong leadership. They are also responsible for maintaining good relationships with top management, product management, promotion management, pricing management, and distribution management.
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Marketing Plan
The document outlines the steps to developing an effective sales strategy. It discusses assessing the performance environment, evaluating organizational design, conducting competitive analysis, and developing buyer personas. The sales strategy process includes designing the strategy, building required infrastructure like sales processes and tools, implementing the strategy to gain momentum, and achieving success which leads to standardizing operations. The sales strategy is developed in phases over multiple quarters to efficiently allocate resources and drive revenues while reducing costs.
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Sales person
- 2. ChiragGoradia (23)
- 3. Siddharth Gupta (25)
- 4. ShrenikParmar (40)
- 5. SamipPonda (41)
- 8. Responsibilities of a salesman Have thorough knowledge of companies goals and objectives Implement company’s policies efficiently and effectively Thorough knowledge of the product and mfg. process Develop image of company and build the brand Establish good relations with trade and government authorities Report market scenario and means to further improve sales Undertake sales forecasting for his territory
- 10. Sales motivational mix (contd..)
- 11. Territory management Functions: Territory Management Generating New Accounts Managing Existing Accounts Personal Time Management
- 12. Territory Management Advantages of designing a sales territory It ensures better market coverage Effective utilization of the sales force Efficient distribution of workload among sales people It is convenient to evaluate the performance of sales people To control over the direct and indirect costs of the sales function Optimum utilization of sales time by sales people Obtaining tighter sales and expense control and motivating desired performance
- 16. Shapes of Territory circle Clover leaf wedge
- 17. Importance of Sales Planning
- 19. Team effort ( The Sale-Rise Model)
- 20. Porter and Lawler Expectancy Model for Motivation
- 21. References Sales and Distribution Management by Tapan Panda and Sunil Sahadev Sales Management Teamwork, Leadership and Technology by Charles M. Futrell Sales and Distribution Management an Indian Perspective by Dr. S.L. Gupta. Managing Sales Force by Wilson