...In today’s economy, keeping the morale of the sales force in a high gear is vital if a company is to achieve profitability. One of the factors that boost the morale and productivity of the sales force is a reward program that recognizes and addresses their needs. It is in the company`s best interest to keep the sales force motivated for higher sales revenue and elevated levels of financial growth. To assist in understanding the impact and role played by reward programs, General Motor`s compensation plan will be used as a guide in creating an effective workforce compensation program (Hay Group., 2001). An effective compensation program needs to incorporate the aspect of fairness .This means recognizing each employee`s worth and value contribution to the ultimate success of the company. The reward program needs to be impartial to all employees involved so that it can gain unfailing support from every member of the sales team. An unfair program will create conflict and division amongst employees and cause resentment and discontent amongst those who feel sidelined by the program (Clow & Baack, 2012). It will hinder the smooth running of operations as employees get involved in a battle to counter each other’s efforts thus leading to reduced levels of productivity. The vision and mission of the company should also be considered when hatching a reward program. It is only by aligning it to the core values of the company that it will attain sustainability. The rewards program will be...
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...The case study about Nordstrom describes about the Sales per Hour (SPH) incentives compensation system to employees as a performance measure instrument. The main problems that have been face by Nordstrom are employee’s dissatisfaction and labor disputes. Under this system employer measures the performance of a sales person by weekly sales divided by hours worked. The employee that meets the target or achieve more than the targeted amount will be rewarded better rewards such as working shift which no need to be reported to the manager while the employee that fail to meet the target will be given with hourly wages. As a result, employee must compete against each other under this incentives system. Thus, this cause end up with employees who stealing the credits with other commissions. Apart from that, the unclear distinction between “selling time” and “non-sell” work time create a pressure among the employees. If more “selling time” has been recorded, then the employee will have lower ratio of SPH and the worst is the employee will not entitled to any extra pay for reporting extra working hours. Thus the employees should have to record more activities that related to customer relationship such as Thank You notes and addressing sale notices as “non-sales” working hours. Since the department’s managers worked closely with the buyers and have direct buying authority, top management has endorsed a decentralization management among the operations, store and regional managers. Top...
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...Distribution Network Sales Force Management Incentives Financial Analysis Maintaining Favorable trade relations Providing innovative incentives to retailers Organizing demand generation activities Logistic Support Evolution of Sales Force Salesman Registered Wholesaler A stock point for company’s products in that market Products manufactured over 40 factories decentralized across 2 million square mile of territory. The operation involves 2000 suppliers and associates. Distribution network consist of 4000 redistribution stockists 6.3 million retail outlets Reaching entire urban population and about 250 million rural consumers Factory Carrying and Forwarding Agent Distributor Urban Area Redistributi on Stockists Star Seller Rural Area Redistribut or Redistribution Stockists Whole seller Family Groceries Retailers Carry and Forward Agents Buffer stock points Resulted in cost saving in terms of direct transportation and reduced time lag delivery Improved customer service to RS Redistribution Stockists Provide distribution units to the company salesman Company Depot Helped in transshipment, bulk breaking, stock point to minimize stock out at the RS level Role by redistribution stockists Financing stock, warehousing facilities, manpower, service to retailers, implementing promotional activities, extending indirect coverage, reporting sales and stock data...
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...Software for Pharmaceutical Companies" 1. 1. Sales Force Automation System for MedicalSales Force Automation System for Medical RepresentativesRepresentatives 2. 2. MRWebMRWebPlusPlus is an innovative solution to serve the specific needs ofis an innovative solution to serve the specific needs of the Pharmaceutical Industry to increase sales throughthe Pharmaceutical Industry to increase sales through better customer relationship management.better customer relationship management. 3. 3. MRWebPlus deliversMRWebPlus delivers Online ReportingOnline Reporting Ease of UseEase of Use Low Cost of OwnershipLow Cost of Ownership needed to succeed in today’s challengingneeded to succeed in today’s challenging business environment.business environment. 4. 4. Monthly processMonthly process Reports give out meaningful info which help MRs to perform better ASM can generate Employee Activity Report Product and doctor wise details of promotion, Call Monitoring Report etc ASM can generate Daily call summary Territory wise sales analysis etc MR enters Daily Call Report MR makes daily sales calls to doctors ASM approves Tour Program MR enters Tour ProgramMR enters Tour Program for the monthfor the month starts here MRWebPlusMRWebPlus 5. 5. MRs do not submit call reports on timeMRs do not submit call reports on time Collation of data is tediousCollation of data is tedious Productivity of the sales team is unknownProductivity of the sales team is unknown Analysis of data is time consumingAnalysis...
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...discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/258199847 Distributor Sales Force Performance Management ARTICLE · OCTOBER 2010 DOI: 10.1177/097226291001400407 READS 417 2 AUTHORS, INCLUDING: Jaydeep Mukherjee Management Development Institute Gurga… 26 PUBLICATIONS 7 CITATIONS SEE PROFILE Available from: Jaydeep Mukherjee Retrieved on: 08 March 2016 Vision: The Journal of Business Perspective http://vis.sagepub.com/ Distributor Sales Force Performance Management Jaydeep Mukherjee and Anirban Basu Vision: The Journal of Business Perspective 2010 14: 309 DOI: 10.1177/097226291001400407 The online version of this article can be found at: http://vis.sagepub.com/content/14/4/309 Published by: http://www.sagepublications.com On behalf of: Management Development Institute Additional services and information for Vision: The Journal of Business Perspective can be found at: Email Alerts: http://vis.sagepub.com/cgi/alerts Subscriptions: http://vis.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav >> Version of Record - Oct 1, 2010 What is This? Downloaded from vis.sagepub.com by guest on October 31, 2013 MANAGEMENT CASE DISTRIBUTOR SALES FORCE PERFORMANCE MANAGEMENT Jaydeep Mukherjee & Anirban Basu Nestle India had initiated an aggressive market growth strategy which...
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...date Designation : Assistant Manager Sales Force effectiveness Current Responsibilities: * As a SFE Manager, My roles include making presentation about growth of products detailed documentation and specifications and performing analyses and to assist in the identification of client issues and developing client specific solutions * Responsible for the overall queries received from clients related to their territory and product structuring, field alignment and related queries. * Making reports regarding performance of our products with their competitors * For launching new products, provide suitable and potential information to the marketing staff about the molecule and segments as well as highlight those areas where we have boost our business. * Make monthly reports brick wise performance , Territory wise performance ,Product wise performance ,Regions and District wise performance , Outlet wise performance * Besides making above reports, different kind of reports are developed as per the requirement of immediate boss * Using Software PLD( Pharmacy Level Data) * Using Software Sales Analyzer * Using Software IMS Plus * Using IMS Black book Organization : Helix Pharma (Private ) Limited. Over All Duration : Jan 2012 up March 2014 Previous Designation : Sales Analysis Officer Previous Responsibilities: * As a Marketing Sales Analyst, My Responsibilities Includes...
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...A SALES MANAGEMENT SYSTEM FOR MPANGA GROWERS TEA FACTORY LIMITED BY …………………………. U/2010/BIT/0…/D RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILMENT ON THE REQUIREMENT FOR THE AWARD OF BACHELOR IN INFORMATION TECHNOLOGY OF THE UGANDA PENTECOSTAL UNIVERSITY DECLARATION I hereby declare that this project is my original work and it has not been submitted in this form or any other form to this or any other institution for examination purposes. Any quotation made has been referenced accordingly. Author Signature ………………………………… Date………. /…........./………. KASWARA TOM APPROVAL This project has been submitted for examination with my approval as the University candidate supervisor Signature ……………………………………… Date………/…..…../………. MR. ANDY BYONA DEDICATION I wish to dedicate this project to my family members who have shown great concern towards the fulfillment of this project. Finally to Uganda Pentecostal university and everybody who would like to undertake the same course in future. ACKNOWLEDGEMENT I thank the almighty God for sustaining my life and seeing me through this course at the University. I am grateful for the concern by the people I have interacted with towards the successful completion of this project I extend my sincere gratitude to my supervisor Mr. Andy Byona for his high level of devotion , patience, monitoring , guidance and critical comments without which this work couldn’t...
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...direction to decision. These models may be computerised or may not. Typical tools are: Time series sales modes Brand switching models Linear programming Elasticity models (price, incomes, demand, supply, etc.) Regression and correlation models Analysis of Variance (ANOVA) models Sensitivity analysis Discounted cash flow Spreadsheet 'what if models Sales force management systems are information systems used in CRM marketing and management that help automate some sales and sales force management functions. They are frequently combined with a Marketing Information System, in which case they are often called Customer Relationship Management (CRM) systems. Sales force management systems are essentially the same thing as Sales Force Automation System (SFA). A SFA, typically a part of a company’s customer relationship management system, is a system that automatically records all the stages in a sales process. SFA includes a contact management system which tracks all contact that has been made with a given customer, the purpose of the contact, and any follow up that might be required. This ensures that sales efforts are not duplicated, reducing the risk of irritating customers. SFA also includes a sales lead tracking system, which lists potential customers through paid phone lists, or customers of related products. Other elements of an SFA system can include sales forecasting, order management and product knowledge. More developed SFA systems have features where...
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...How could sales force automation affect salesperson productivity, marketing management, and competitive advantage? Basically, sales force automation is known as sales management systems whereby sale transactions are made. It is a program that automate any tasks of sales which includes order processing, order tracking, customer management, contact management, information sharing, inventory management, sales forecast analysis and employee performance evaluation. It helps to eliminate problems and reduce the risk of facing bigger consequences. For example, Oracle launched their free CRM software package – OracleSalesOnline.com in 2000 which provides information such as contacts, schedules and performance tracking and it also allows their clients to assess data from any internet connection from application service provider (APS) (TechTarget, 2016). Productivity Most importantly, SFQ automate tasks such as scheduling sales appointment, sending follow-up letters and emails, tracking contacts and updating sale opportunities. This enables sales staffs to produce near accurate estimates and state the order in their proposals with estimated quotes. Also it saves time as information will be stored at the salesperson fingertips which makes it easier to tend to their customers (Diana, 2016). Competitive Advantage As mentioned earlier, productivity can increase. With sales staff utilizing their time wisely, they are able to use time more efficiently and effectively. In that way, it...
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...Klee Sales C o m m e r c e New socio-economic challenges require manufacturers but also retailers to renew their development strategies in order to adapt to a fast-changing world. Greater competitiveness at global level Higher concentration of manufacturers and retailers Low growth rate Pressure on profitability Importance of a fair price The rise of discount Search for greater effectiveness at all levels... Sales performance is primarily founded on establishing a differentiated strategy and effective management of the sales activity. Klee Commerce is a comprehensive customer relationship management solution which is particularly suited to the consumer goods sectors. It adjusts to the business line requirements of sales, marketing and merchandising departments as well as the operational needs of the sales force (regional departments, headquarter-field sales teams, etc.). Comprised of modules adapted to the specific features of each business line, it enables shortening of sales cycles, management of all complex processes related to selling, and fostering a concerted effort by the various field or office-based teams in order to win over new customers and grow sales. The Klee Sales module therefore makes it possible to: - effectively monitor sales sectorizing of the sales force, - identify the development potentials of chains, - identify additional and/or cross-cutting sales opportunities - close more sales faster - analyse the performances of products and personnel, etc. The...
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...industry. In an increasingly crowded marketplace, there is pressure to ensure that sales force effectiveness is maximized, and the correct sales and marketing strategy implemented. The success factors that determine an effective sales and marketing strategy depend on the area of practice. It is important to draw a distinction between traditional physician or prescriber visits, and more senior level market access discussions with payers and healthcare providers. The most effective strategy to pursue will depend on what kind of audience is being targeted. Local doctor visits Sales reps conducting pharmacy or hospital visits have traditionally focused on free samples, with pharmaceutical companies spending billions of dollars per year on this technique. Another potentially expensive approach has been gifting: courting clients with expenses-paid trips, meals and the like. This sales strategy is additionally under fire in many countries from legislative changes making this kind of activity illegal. With economic restraint a dominant factor, big pharma is eager to find more cost-effective ways to convince physicians of the value of their products, and this is where technology can come in. Mobile sales platforms allow for a smoother interaction with physicians, and the interactive approach can be carried through to social media forms of e-detailing. Platforms of this kind offer a new level of sales integration, with customer relationship management, presentation tools and analytics-based...
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...As Jared’s saleCASE 1.1 Questions 1. Based on the brief conversation between Jerry Kline, Grace Gallo, and Paul Swenson, what kind of sales manager do you think each of them is? What do you think is the level of performance of the sales force each person heads? How do you think each of them will benefit from the sales management training seminar? Jerry Kline is the kind of manager that thinks the important thing is the money. He does not care about building customer relationships, just offer products at lower prices than competition and you will get sales. He does not care about performance, just making sales. He will not benefit at all by the attitude he is having, but if he is willing to learn, he will know that it is important to make a good sales performance and great long term customer relationships. Grace Gallo is the kind of manager that wants the things his way; if he is happy, their employees are happy. He likes to be the best and reach for his goal always. The training seminar can help him being more open on doing a better performance, but if he does not listen and be willing to learn he will not benefit from the seminar. Paul Swenson is the kind of manager that is willing to learn new things. His level of performance will increase because of what he will learn on the seminar. He will benefit because he learned that top management does not allow to match some of the discounts that competitors are offering, he will learn to sell on some basis other than price...
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...Incentive compensation Management | @ TCS | | Amit Sharma ,Jasveen Singh, Rajat Bindlish,Siddharth Tiwari,Vaibhav Attree | | Group 11 | 6/12/2013 | | Contents 1 Introduction: 1 1.1 What is Sales ICM? 1 1.2 What is Cybernetics? 2 2 The Cybernetics Approach to Sales ICM 2 2.1 Cybernetics Influence Diagram (CID) 3 3 Sales ICM CID 4 4 Feedback Loop Analysis 6 4.1 Feedback Loop – Commissions Calculations 7 4.2 Feedback Loop - Clawback Calculations 8 4.3 Feedback Loop – Revenue and Cost of Sales 9 4.4 Feedback Loop – Dispute Management 11 5 Conclusion 12 * Introduction: Sales Incentive Compensation Management (ICM) Model is increasingly becoming the key decisive and motivating factor in influencing sales execution to impact the business performance. As sales models are being re-engineered to incorporate more market dynamics and adversities, sales compensation models are also becoming increasingly complex. In the global market where increasing customer reach is a major challenge, it has become essential to include dealers, partners, distributors, retailers, contractors, buying centers across various sales channels into the business’ Sales ICM model. Accurately measuring and rewarding the performance of the sales force (both internal and external to the business) has become the key to driving desired behavior in achieving the business objectives. Failure to understand Sales ICM as a key influencer for the sales force results...
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...previous chapter which is chapter 15, we already discussed on the process by which we determine the number and type of sales people needed, and also how to recruit applicants. In this chapter we are in the third phase which is selection. This phase involved of developing a system of tools and procedures for matching the applicants with the predetermined requirements and actually using this system to select the salespeople. There are some major tools in the selection, they are application blanks, personal interviews, psychological tests, references and credit reports and the last tool is assessment centers. This chapter also discuss about the fourth phase of staffing process which is hiring and also the final phase, which is assimilating new hires into the company. The figure below shows the tools on selecting salespeople. In this chapter, the processing applicants are a key activity in implementing a company’s strategy planning. When using the any of the selecting tools, manager has to make certain that it is complying with all pertinent laws and regulatory guidelines. The application blank and the personal interview are the two most widely used selection tools. A short application blank may be used as an initial screening device. A longer application blank is a primary source of personal history information that can be used in hiring and in other phases of sales operations. An application blank is an excellent tool for getting information in three major categories of job qualifications...
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...objectives of sales management • Definition of sales management • How a Sales executive acts as a coordinator • To know about personal selling In this lesson we will study about an overview of Sales Management. today must develop an integrative management style using adaptive, problem solving, extensive information, in many cases is an ever changing market place. The overwhelming majority of business environment workers are service providers such as investment bankers, consultants, and information technology specialists. Sales Mangers in the current business environment must have the ability to add value, which means functional expertise in sales and marketing along with knowledge of industry. However managers must also have the skills to lead, communicate, use changing technologies, build teams, motivate sales people, form strategic alliance with customers. These are times of drastic corporate downsizing in which sales orgranisations are expected to do more with less. Many internal and external changes in organizations have dictated the need to conduct business differently. External business environment has experienced changing technology, globalization, more competition and more demanding and sophisticated customers. Internal changes have included greater emphasis on quality levels in product and service output, faster communication channels and more educated, skilled employee base. The relationship between sales people and customer is changing faster than sales orders can be...
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