1. Sales managers are responsible for directing and leading the sales teams. By understanding the personal selling functions we will be an overall better sales force. Sales teams must be able to identify and relate to the roles of the business and sales functions at all times. By correctly managing your sales team you will boost profits and create a more profitable atmosphere.
Increasing the sales In these sales-oriented pricing objectives, knowledge gained from experience curve is put to some good use in predicting a strategy that's capable of decreasing long-term costs while ensuring a long-run profit, by increasing the number of units sold. For this purpose, companies may alter the prices or even whole pricing policies to improve their chances of getting a greater number of sales. Furthermore, brands can use the objective for the purpose of increasing the market shares also, which is a measure of the sales comparison with another brand's or in the whole industry. Aside from achieving a definite target of market share, companies can also use pricing to boost up their shares. Since, greater the price (to an appropriate level), greater are the chances to a larger proportion.
Work with channel partners; develop teams within the firm so that you can work efficiently at producing a winning product. Expect product line turnover; anticipate product line deletions-keep it simple or you will incur costs. Manage the deletions; deletions allow for the better management of new items, but be aware of costs associated with taking a product off the line. Ultimately, it comes down to what you know. You need to be aware of how marketing is done effectively and efficiently.
The part that deals specifically with the needs of the cust... ... middle of paper ... ...to, what promotions to send to certain customers, and can inevitably save marketing dollars in the process. The management part of the programs is equally important. Once companies see progress or no progress with a customer they have to decide on an appropriate action. Companies do not want to sit back and watch customers disappear. Measuring the benefits will help companies identify their best customers and eliminate negative information flow between customers and the company.
Achieving quality of conformance involved conform to specifications that involve providing customers with a quality product at the right price which accounts for the cost of materials. In order for a company to achieve and produce a successful product that customers want and need, it is vital that quality management and lean systems play front row. Quality management helps organizations to reduce waste and inventory. “Lean is about challenging the way things are done and opening our eyes to that waste and inefficiency” (Lean Benefits - Benefits of Lean, Why Lean is Important, 2015). Within each of these concepts are important tool and techniques that organizations can use to achieve a quality product.
Kaizen costing is a Japanese term for continuous improvement that focuses on cost reduction. It involves setting of standards and constantly improving on them to achieve long-term sustainability. Usually, the focus of Kaizen costing is on waste elimination and improvement of processes to increase productivity. To achieve these objectives, there is the need to pull in ideas from every employee as each contribution is necessary in ensuring gradual improvements. Each employee’s contribution will have a significant impact on cost reduction when management takes into account all other ideas.
The practices of HR can impact for the company in the short term and long term, causing the company to lose and gain attractions for employees or new employees. Leaders or leaders that are good and respectable tends to motivate their employees to do a better performance and it will increase in profits which will result in an excellent human resource within the company. Employees working at the Human Resources department are the one in charge of the company to manage employees and customers and with managers, CEO and others to bring a better place. Human Resources looks for strategies and political rules that use in the right department. To operate the personnel policies in an organization is needed and define and articulate social functions
Now that you understand how price elasticity works and how it is calculated, it is time to take a closer look to the reasons its important for any business. Price tends to be an important part of consumer shopping decision and companies should understand just how important price is to consumers by calculating price elasticity of demand. In fact, price elasticity of demand is one of the key metrics for businesses. It can reveal crucial information about the business and its finances, as well as improve the company’s operational strategy. Firstly, since price elasticity measures the price and product quantity impact, it can reveal to the business how customers will react to price changes.
Value Chain Analysis is a theory first given by Michel Porter. According to him it is a useful tool to find out how a company can create superior value for their customers. He also suggested that the more value a company can create, the more people will be prepared to pay a good price for their product or service. So every company should make some strategic decision how they can improve their value chain. For Banglalink it is very critical that, they should understand their value chain carefully.
First, the company could show how important they are. The more company values the stakeholder, the more importance the stakeholder will attach to the decision making environment. Second, let them know if they involve, what will they get, and will receive what kind of benefit. No one would do the useless work but everyone is interested in what would make them profitably. The enterprise can make a plan about if the stakeholder joins in, how many benefit can be created by the end of the period.