Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
21Activity
0 of .
Results for:
No results containing your search query
P. 1
Sales Notes 175

Sales Notes 175

Ratings: (0)|Views: 338|Likes:
Published by Eshu Subramani

More info:

Published by: Eshu Subramani on Aug 31, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

05/11/2014

pdf

text

original

 
ESHWARI.S---LORAA BUSINESS ACADEMY Page 1
Sales management notes:
 
ESHWARI.S---LORAA BUSINESS ACADEMY Page 2
UNIT-1
 
 Introduction to Sales Management :
MEA
NING
: Sales
M
anagement
-
is the attainment of sales force goals in an effective andefficient manner through planning, staffing, training, leading, and controlling organizationalresources (Futrell1998)Managing a sales force involves recruiting, hiring, training,  supervising, compensating salespeople, motivating them to become problem solvers, and providing the proper planning and backup support so they can perform their jobs properly.
Definition:
Systematic process involving:(1) formulation of sales strategy through development of account managementpolicies, salesforce compensation policies, sales revenue forecasts, and sales plan,(2) implementation of sales strategy through selecting, training, motivating, and supporting thesales force, setting sales revenue targets, and(3) sales force management through development and implementation of sales performance, monitoring, and evaluation methods, and analysis of associated behavioral patterns and costs.
 
Sales is one of the most crucial functions of an organization. It is the principal, and often, theonly revenue generating function in the organization. Sales has formed an important part of  business throughout history and will continue to do so. A constant evolution has been witnessedin the sales function from the early Stone Age, through the Iron ages and the Middle Ages tosales in the twenty-first century. The evolution of the sales concept can also be studied in termsof seven generations.In addition to helping an organization achieve its business goals, the selling function performsvarious other roles such as enhancing knowledge pertaining to the internal and externalenvironments, developing positive relationships with customers, suppliers and distributors, andnegotiating with customers to sell the company's products profitably. Despite the crucial role theselling function plays in the growth of an organization, sales has a rather negative imageassociated with it.This can be attributed more to the misconceptions in the minds of the people rather than actualknowledge of the profession. The major objectives of a sales organization are to increase salesvolume, contribute to profits, and attain long-term growth. For an organization to be successful,it is essential to integrate the sales and marketing functions so that coordination of activities can be achieved.
 
ESHWARI.S---LORAA BUSINESS ACADEMY Page 3
O
ver the years, substantial changes have taken place in the selling environment, sparking achange in the sales function too. The various trends that have shaped the sales function includeshorter product life cycle, longer, more complex sales cycle, reduced customer loyalty, intensecompetition among manufacturing firms, rising customer expectations, increasing buyer expertise, electronic revolution in communications, and the entry of women into the sales force.http://www.icmrindia.org/courseware/Sales%20and%20Distribution%20Management1/SDMC03.htm 
EVAL
U
A
TION
 
OF
S
ALE
S
MA
N
A
G
EME
NT
:
Importance of Sales Management
Sales management is one of the key components that every
 business
which relies on sales mustpractice. Sales management is the training and management of a sales staff, and the tracking andreporting of the company's sales. It is important to a business because if the principles of salesmanagement are practiced correctly, it can increase your company's sales.
1.
 
G
oal Setting
o
 
To achieve sales goals, your company needs to set sales numbers or goals for the staff. One wayfor a company to achieve and maintain growth is to increase its sales numbers. Sales managers canset sales goals that will promote growth and are attainable by the sales staff. Many sales managersuse cash bonuses or other incentives to motivate staff to achieve the goals. Sales goals for staff canalso be set to match the strengths of each staff member.
T
racking
o
 
Sales management enables management to track the overall sales of the company as well as theindividual sales of each employee. Using sales tracking, management is able to tell if the company ison track to meet its goals or if individual members of the sales team are not producing enough sales.By keeping the sales force constantly up to date on the status of their sales, you can help them toadjust their sales techniques and productivity to achieve the company's sales goals.
eporting
o
 
Using sales management, a company can produce sales reports that can be used to track theperformance of its sales force over different periods. For example, you can use sales reports tocompare the sales of the company on different years over the same period. The sales reports candetermine the direction your company must take based on the results. For example, if the salesreports determine that your company is experiencing substantial growth year after year, it mayindicate that expansion is a possible direction for the company.
Sales System
o
 
 As a company grows, it can become more difficult to track and manage the sales process without asystem in place. Sales management provides companies with a system to train and manageemployees while streamlining the sales process from the individual sales employee to the customer.This is beneficial because if there is a problem at any point of the sales process that may affect thecompany's bottom line, it can be quickly identified and corrected.

Activity (21)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
Tony Rizk liked this
Anand Betageri liked this
Spil_vv_IJmuiden liked this
Tarun Sharma liked this
Tarun Sharma liked this
Tarun Sharma liked this
Tarun Sharma liked this
elinzola liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->