Another view on the sales plan, according to Business Queensland (2017) is that a sales plan is a strategy that sets out sales targets and tactics for a business by identifying the steps that are needed to meet the targets. A sales plan will help the business with the following:
Selecting a sales strategies suitable for the target market
Identifying sales tactics for the sales team
Motivativing, mobilize and direct the efforts of the sales team
Predicting and defining steps to achieve targets
Reviewing goals and improving the sales approach
Market Research
Understanding the market is the first step to develop a high-quality sales plan. To understand the market the company needs to conduct market research. Business Queensland (2017), states
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The sales team members responsible for implementing the tactic by location, when each action will start and finish and how much each time it will cost should also be included. Furthermore, it is important to check if the action plan supports all strategies and tactics.
Communicating and monitoring the sales plan
Once a sales plan has been, it's important to communicate it effectively to employees and customers so they can help achieve the sales goals. The sales plan also needs to identify the steps that will be taken to assess its effectiveness. Essentially, the sales plan is a living document that needs to be regularly monitored and updated.
Sales team
The success of a sales plan depends on the sales team. The sales team will not be able to achieve the sales plan targets unless they understand the plan completely. The sales plan should describe how the company will communicate the plan to its employees and how employees will be trained to implement the sales plan's actions. Moreover, what the team needs to know should be considered. This includes the sales targets, strategies and tactics in your sales plan. Additionally, how to determine what motivates customers to buy, how the results will be measures and how the employees will be
The first step is to (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment and communicating that we have made the choice to distinguish ourselves that way (Consumer Psychologist, n.d.). •
Consolidate and standardize inventories- The variety of items ordered and stocked in the surgery departments results in an overabundance of different products with inconsistencies in sizes and packaging. In the case of this hospital having multiple surgery departments supplies are scattered, and even the same supplies stocked in the departments. This causes inventories to require extra time for assembling materials disbursed throughout the surgery department. Damaged or outdated stock on shelves could be caused by overstocking and hoarding of supplies and instruments. "Cost containment pressures and quality improvement initiatives have prompted healthcare organizations to consolidate these inventories, standardize on certain supplies,
(Yoder-Wise, 2015) During the process of planning you need to assess your internal and external environment, identify any opportunities and threats. Then you want to create your plan and identify your goals and objectives, implement the plan and lastly you evaluate and make any necessary changes. In strategic marketing, you want to identify your target market and research it. When planning you identify your strategies and objectives you identify what services you will provide and at what cost an how you’re going to market your plan. You can evaluate by getting feedback from consumers through different
Recently I watched a T.V. show called The Profit and recognized some similarities from the current Marketing chapter discussed in class. The current episode was about a company called Bentley’s Corner Barkery, which is committed in providing all-natural pet food and treats for their customers. The episode highlighted how Bentley’s Corner Barkery was struggling and not reaching all of their potential customer base because of its marketing structure among other poor managing and financial elements. Before Marcus Lemonis (he is the investor) the company marketing strategy was the quality of product will attract customers. Marcus Lemonis immediately ask for the company’s mission statement and help the owners identify their target customers by segmentation.
The first step is to create a model of buyer behavior that would encourage consumers to buy
From buying a hamburger to buying a house people use a process in order to make a decision on what to buy. (book cite) describes this as the consumer decision process (pg.175). Utilizing a consumer decision process model, marketers are able to better understand how consumers are purchasing products and services. The five step consumer decision process model includes need recognition, information search, alternative evaluation, purchase, and post purchase. Not all purchases require following all five steps to a T, but consumers, whether they know it or not, follow a version of this model when making a purchase. Companies also use this model in order to effectively market their products and services. A company
Good understanding of the marketing mix is important for an organization. When a company is developing a marketing plan, it must consider each element. Just as important is an understanding how to use the element in the marketing process. They must create a marketing plan, which incorporated all four elements. This is usually formalized in a marketing plan consists of three phases. These phases are planning, implementation and control.
This is the first and most basic step in the purchase decision process. Marketers can effectively initiate consumers’ awareness of a need with the right advertising campaign. For instance, the concession advertising prior to the start of a feature movie is geared toward making movie goers aware that they” need” a drink and a snack. Information search is the process where consumers gather information on a pro... ... middle of paper ... ...
Strategic planning directs every movement in a business and is very essential to business performance (London 2002, pp.26-33). The strategic plan and operational plan are extracted from Best Buy Form 10K to better clarify the current situation and future direction of Best Buy.
According to Reed and Bogardus (2012), strategic planning is “the systematic way of setting the direction for an organization and developing tactics and operational plans to ensure its success” (pg. 111). Strategic planning is a behavioral science and can be described as an organization’s process of forecasting organizational strategies for what it hopes to achieve and how to g o about achieving their desired outcomes (Darvish and Zahra, 2014) . It is an effective process for determining goals and helping the organization’s management team to focus on what it is they ultimately want to achieve. Organizations use strategic planning as a control mechanism as well, for the purpose of deciding and the implementation of its strategies. Additionally, strategic planning identifies with the organization strategies to improve the bottom line. There are no set ways to plan because planning depends on the organization’s objectives, culture, and current situation/s....
Once the action plan is in effect, the plan then relies on the implementation and the communication strategy for the idea to work. Communication objectives are obtained and the strategic tactics on how to communicate and disseminate the communication objectives formally and informally.
Planning can be used to help the organization map out a way to efficiently achieve their goals. The beginning of the planning process should include analyzing of the current situation. From this information the company can determine the goals and start to outline the steps that need to be taken to ensure that the goal will be met. Other planning activities that should be completed are determining the company’s objectives and were they want to be in the future. This will help them to choose their business objectives and strategies. In addition, the company should look at the resources that they have available and determine if they are sufficient to achieve the organizations goals.
A sales manager has many responsibilities such as spreading product to customers, setting sales areas, goals, and analyzing sales data (“Sales Manager” What’s para. 1). Although a sales manager performs many duties, people in this position will also set a sales goal for the year, and will build a sales outlook on what they will do in the upcoming years (“Sales Manager” Sokanu para. 1).A person in this position will also manage where the goods and products their company will be distributing by giving certain sales area where a salesman will work and sell the product (“Sales Manager” Sokanu para. 2). During work time, a sales manager may be asked to hire and train a new salesman added to his team (“Sales Manager” Sokanu para. 3). Occasionally, a sales manager will interpret sales statistics in a specific area when looking where to assign certain salesman to a sales territory (“Sales Manager” Sokanu pa...
Operational planning is what drives strategic planning goals to a success. On a day to day basis, operational plans are being communicated and decisions are being made. Operational planning is important because it leads to the goals and visions of the organization and by doing that, operational plans must be made daily to keep the organization competitive in the market. Friend & Zehle (2004) discuss operational plans central to the allocation of resources, it uses inputs to scale operations in order to deliver information about all stages of the primary value chain activies and the support of those activities. Without operational plans, an organization would have no way to reach its goals that were set. The market is changing constantly and operational plans help keep organizations making effective
Sales force management tools such as quotas, targets and sales reports are mainly used by management for a number of reasons. These include monitoring of sales force performance and determining suitable target markets for their sales force. Technology is also an aspect in sales management that has revolutionized sale and management in organizations. The incorporation of new technology has made work much easier for both employees and the management.