...What is meant by sales promotion? Describe briefly the various methods of sales promotional tools used by business organizations to boost the sales. Explain any four methods of sales promotion? Sales promotion refers to activities or inducements meant to make people come and buy more of your product, especially in the short term. Sales promotion consists of short term incentives to encourage the purchase or sales of a product or service thus offering reasons to buy product or services now. Using different methods of promotion such as; giving away coupons, offering discounts, cash refunds, patronage rewards and samples makes customers decide to buy now. Sales promotion is targeted for business and industrial goods also Industrial products differ with that of consumer goods. The tools which are used are- 1) Trade shows:- The industrial products are displayed and demonstrated to the members of trade and industry. The representatives explain about the products. The trade shows can be useful for smaller firms which can’t much in advertising and also salesman can make for more contacts. Trade shows are important rules for reaching potential wholesalers & distributers for a company’s brand. 2) Business gifts:- These gifts are given as a part of building and maintaining a close working relationship with suppliers business gifts may include small items of jewellary, watch, electronic items, expensive trips. 3) Trial offers:- Trial offers are particularly well suited to...
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...requires the organization to accomplish a few things with a training program. An organization must implement a program so that it will be engaging for the learner as well as make sure it is benchmarking the employee. There are a few things that must be addressed before getting into the details of the training program. An organization must come to a consensus on how long the training program will be, the objectives of the program, and how the program will be delivered An organization must also have certain benchmarks in place such as evaluation methods, performance standards, and feedback after the training is completed. Each of the five sales representatives will need training, however they are on different levels for sales knowledge and product knowledge and this needs to be assessed. The ultimate goal of the training will be to inform the sales representatives while increasing revenue for the organization. New Training Needs and Objectives The training needs within InterClean encompass product training and sales training. These are two areas both the older sales representatives and the newer representatives can always grow. This will assist the sales reps. sell InterClean’s products better through sales tactics and product knowledge. The demographic analysis will help determine the needs of each individual group. The older representatives are more advanced with their selling skills so they will need a different type of training then a newer sales rep. In...
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...Is Sales-Ethics an Oxymoron? Globalization highlighted the ethical issues and concerns for every individual organization, multinational organizational conduct their operations under ethical code of conduct to confine the issues faced by unethical conducts. Many organizations such as pharmaceutical firms, technological firms and financial firms pay more attentions to ethical behavior to ensure the sales to consumers have been impeccably ethical. However managers pay attention to behavioral ethical conducts that ensure the professional attitude of sales force towards consumers/customers (Chen & Tang, 2006, 69). Recent unethical conducts by Enron and WorldCom highlighted the attention for sales and ethical behavior, because unethical conduct and sales ethics can ruin the whole organization wide reputation (McDevitt et al, 2007, 73). Business ethics is counter stone for doing business in industry that however considered by every single organization, which eventually encourages every single business entity to develop the organization’s processes based on ethical conducts. Business ethics and sales ethics both entails the same meaning because ultimately salesperson engages in the business activity to generate profits for business, but on contrary “business ethics” and “sales ethics” have no contradiction in associations. Sales ethics on the other hand have some stereotype meaning because business and sales people are not always ethical; leaving us with a dilemma that indicates...
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...is to evaluate the compensation package the company uses to pay their sales representatives, also compare pay scale of the independent contractors. Next is to review how lack of sales affects the pricing and the behavior of sale representatives. Yes, the compensation system is very effective whether or not independent representative sales anything or not. The company will continue to make money from the product. If the independent sales representative makes enough in sales, the more products the representative will purchase from the company. Compensation is an important factor why people choose to work for an organization. An effective compensation system in an organization is linked to the organization strategies. The three objectives of any compensation system are to attract workers, retain the best employers and motivate employees to help the company achieve its strategic goals. Employers must balance compensation cost that both ensure organization competitiveness and compensate employees. The way collegiate promotions structures their business that independent sales representative determine their own compensation. For collegiate promotions this strategy works because the company is able to reduce their overhead by increase their sales force. The sales representative would sale at the high end of the scale in order to maximize profit. Sale positions are very competitive and demanding. Sales representative sells goods at high prices and establish selling price...
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...manufacturing company should be paid by salary plus bonuses depending on the performance of the organization. Accountants are very important in organizations because they are the ones who manage the income of the organization, that’s why accountants should have a set salary and they should receive bonuses as well if the company achieve their goals. B. A salesperson for a software company should be paid Salary or Hourly wages and they should receive commission for their sales or bonuses depending on the organization they work for. For example, if the salespeople for T-Mobile would get paid the same whether they sell phones or don’t sell phones, they wouldn’t put as much effort on achieving sales goals because they are getting the same pay regardless. A sales person should be paid by commission because it pushes them to increase their sales in order for them to receive a good pay. C.. Chief Executive Officers should be paid with Salaries, Bonuses, and profit sharing because of the amount of responsibility Chief Executive Officers hold in organizations. A Chief Executive Officer should receive a good pay because He or She is the head of the organization and the one who is responsible for everything that happens in that organization Chief Executive Officers are the ones who are responsible for the organization’s performance and they are hold accountable for the achievements of the organizations. D. A physician in a health clinic should be paid on an Hourly Standard Plan because the...
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...of the activities, plans, attitudes, policies, and efforts of the people of an organization working together to provide reasonable assurance that the organization will achieve its objectives and mission. Four Purposes of Internal Control 1. To promote orderly, economical, efficient and effective operations and to produce quality products and services consistent with the organization's mission; 2. To safeguard resources against loss due to waste, abuse, mismanagement, errors and fraud; 3. To ensure adherence to laws, regulations, contracts and management directives; and 4. To develop and maintain reliable financial and management data, and to accurately present that data in timely report FOUR COMPONENTS OF INTERNAL CONTROL 1. CONTROL ENVIRONMENT Control environment is the attitude toward internal control and control consciousness established and maintained by the management and the employees of an organization. It is a product of management's philosophy, style and supportive attitude, as well as the competence, ethical values, integrity, and morale of the organization's people. The organization structure and accountability relationships are key factors in the control environment. 2. COMMUNICATION AND INTERNAL CONTROL Management should ensure that good communication channels exist to carry information to people who need it throughout the organization. The organization's management and staff should be able to use these established...
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...Week Seven Assignment 1) Of the above information what is the most important in your design of a sale incentive plan for the three sale staff? How does the information affect your plan design? Sales are the life blood for this organization and most business in the sport arena. The company must put together all it resources in defeating other sports franchise in the area that are winning. They must put together an effective plan in selling its products and for a lack of a better word must defeat its competitors. The most important thing for the three Sales Representatives is teamwork and good relationship with one another. I believe with a collaborative effort these sale representative can increase ticket sale and revenue. I don’t think the information provided will affect the sale incentive plan a lot because in this scenario the main focus is to sell tickets while the team is still performing below standard. In the sale incentive plan I think we are more focus on the benefits instead of the features. 2) Your book talks about unit rate plans. Which of these types of plan would you use for sales of tickets? Which plan might be appropriate for sale of advertising? Why? In the sale of tickets we will use the team performance. The team performance will have a direct correlation to the sale of tickets. There are several tickets plan in the buffalo bisons to include but not limited to season tickets, family pack specials for 3, 4, etc., flex packs, pick-a-pack, group...
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...of the founders of industrial/organizational psychology, Frederick Taylor and Lillian Moller Gilbreth in the early 20th century.[1] Job analyses provide information to organizations which helps to determine which employees are best fit for specific jobs. Through job analysis, the analyst needs to understand what the important tasks of the job are, how they are carried out, and the necessary human qualities needed to complete the job successfully. Essentially, job analyses provide information to organizations which helps to determine which employees are best fit for specific jobs. The process of job analysis involves the analyst describing the duties of the incumbent, then the nature and conditions of work, and finally some basic qualifications. After this, the job analyst has completed a form called a job psychograph, which displays the mental requirements of the job.[2]The measure of a sound job analysis is a valid task list. This list contains the functional or duty areas of a position, the related tasks, and the basic training recommendations. Subject matter experts (incumbents) and supervisors for the position being analyzed need to validate this final list in order to validate the job analysis.[3] Job analysis is crucial for first, helping individuals develop their careers, and also for helping organizations develop their employees in order to maximize talent. The outcomes of job analysis are key influences in designing learning, developing performance interventions, and improving...
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...Sales and Distribution Management Program Credit Course Code : PGPM : 3 : SL MM 606 Class of Sessions : 2012 : 30 Objective To make the student aware of issues related to sales force management focusing on ―selling‖ as a tool of Marketing Communication. The study of Channel Management offers an appreciation of logistics of information and goods, and exposes students to the types of systems required to optimize organizational efficiency through this function. Learning Objective: The aim is to prepare students to manage sales and channel teams for different types of selling, with the purpose of enhancing value based output and productivity Learning Outcomes: REFERENCE BOOKS Sales Management - Decisions, Strategies and Cases. 5ed Marketing Channels: A Relationship Approach Sales & Distribution Management Sales Management Sales and Distribution Management – Text & Cases Retailing Management – Text & Cases, 2 nd AUTHOR / PUBLICATION Richard R Still, Edward W Cundiff, Norman A, P Govoni- PCI Coughlan, 7th ed IUP Panda / Sahadev Havaldar / Cavale. Tata Mcgraw Hill - 2007 Pradhan, Swapna. Tata McGraw-Hill - 2006 e Faculty teaching the subject in all PGPM Campuses should refer Articles, Journals, Websites. Detailed Syllabus Introduction: Emerging Trends in S & D, Linking S & D Role & Responsibility of Sales person: - Cross Functional Linkages, Types of selling, Value Proposition, Lifetime Customer Value Creation- Key Accounts Management. Selling Skills: Communication...
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...Project Selection Method and Flowchart for a Project OPS/TM571 October 31, 2011 Project Selection Method and Flowchart for a Project My organization has a handful of customers, but because the product in the field is still immature, I receive a lot of support issues that need almost instant response on root cause analysis. These issues usually come through email or phone calls from the sales engineers. The steps I follow are, once the issue comes through an email or phone, I file a defect in the defect tracking system with the information at hand, and then the issue goes to engineers to reproduce and perform the root cause analysis. After that, the priority is to find the workaround for customer, provide the feedback in email and wait for customer response on the workaround, in some cases, the customer needs issue fix in the product and that request goes through the product management. I would like to streamline this process, because the email communication for the issues is very confusing and time consuming. Project Selection Method to Evaluate the Process Improvement List of problems: 1. Issues coming through emails do not have enough information about the issue itself, such as platform, configuration, customer setup, priority of issue, frequency of issue. 2. The sales engineers do not file any issue in the defect tracking system and email directly to engineers many a times for customer issues. 3. The emails have multiple issues under one subject matter...
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...the perceptive, and it was clear why it wasn’t feasible but it could be due to club timeline. Due to these two factor many of the applicants were rejected. Another reason applicant were rejected is because OCI believed that the applicant viewed their organization as cheap labor and they would work like “worker bee”. The organization also acquired clients by personal references. The personal reference usually led to numerous applicant but it also could have the adverse effect on them if a client wasn’t satisfied with the work The diagram also focus on member recruitment which is very important. The club is on a strict timeline because all projects have to be completed by the end of the year. In order for that to happen, all officers and elected officials decision had to be done and approved by October. Member’s recruitment was based on previous member experience. Where the member had a good or bad experience would affect the increase or decrease in the number of perspective member signing up. In most case, some of the members that had a negative experience with the group, not only make plans of not returning but they would encourage other not to sign up. They even would try to encourage other members to leave the organization also. Also the overall dynamics of the projects and the reason why they were failing is examined. My recommendation to OCI in regards to client acquisition is to continue with the advertising aspect of...
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...online purchases. Through offering products for purchase via a modified Website within and outside conventional hours, the organization can reach new customers regionally and expand globally. Profits are expected through offering medium to large businesses affordable, mid-level, customized personal computers (PC’s), and enter the booming market of Chromebooks. Windows XP is an operating system in use that will have its last update released in April of this year. According to Bott (2013), “20.5 percent to 31.42 percent” (para. 3) of computers are still running this operating system. Potential customers will seek contemporary computers that have the hardware capability to support newer operating systems. Businesses will purchase computers in bulk allowing N & F Computers to purchase parts, operating systems, and common application suites from suppliers at a lower price. Passing this savings on to the customer will differentiate the organization from the competition by not sacrificing price for performance. Chromebook products are in the growth stage of the product life cycle. According to Mick (2013), the sales have increased by “4721.1%” (para. 6) during the last year. N & F Computers has established the business functionality to launch into e-commerce. The premise has a small storefront with a large area in the back for storage and assembly. As sales increase, the operations manager will hire the necessary employees in order to build...
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...bags. They have recently built a large manufacturing building in northern Maine with a new focus on higher value products which will include a frozen division line, (French fries, gourmet stuffed potatoes and the like) a dried food division line, (instant mashed potatoes, potato pancake mix etc.) and the traditional potato food line. Bu doing this, they hope to increase their revenue by three times the amount they are currently generating. The next phase of their project calls for a nationwide distribution and sales program. Their major strategy is to recruit the right sales force and develop a system for selling and distributing the product. Down East Spud Busters is currently leading towards the concepts of hiring sales associates who will work out of their homes in strategic locations around the United States. The sales associates hired will then be responsible for a number of things involving meeting a quota, overseeing the sale and any other issues with the sale. The final stage of their plan is to eventually build a second manufacturing center in five years and oversee an increase in crop planting. They then want to hopefully expand into Europe and the Pacific Rim. There are many different issues that are facing Down East Spud Busters right now. They have all these plans for expanding their distribution but they don’t have a solid way of doing that while keeping the items fresh. They have a plan for...
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...which will help in achieving the set objectives. Budgets are also very important in individual life, as it is important in business firms. The following are the essential of budget: (a) It is prepared in advance and is based on future plan of action. (b) It relates to a future period and is based on objectives to be attained. (c) It is a statement expressed in monetary or physical unit prepared for the formulation of policy. Types of budgets. 1. Functional basis of budgets. a. Sales budget: Sales budget is the primary budget. It is the most important budget to prepare and the other budgets are prepared on the basis of sales budget. In this budget the in charge or expert forecast the future expected sales of the firm. The sales manager is responsible for the accuracy of the budget. The sales budgets may prepare on basis of product, type of customers, salesman, locality etc. for the preparation of sales budget the following things should be take under care like past sales, sales man estimates, plant capacity, raw material, orders in hand, seasonal fluctuations, competition etc. b. Production...
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...they are marketing themselves to their parents in exchange for the car or the party. A set of activities that will benefit both parties’ objectives is my own personal definition of marketing. This paper will be defining marketing in different perspectives. Discussing the importance of marketing in a organizational success will also be discussed with examples included from different organizations. As an organization it is important to know what marketing is and how to establish success. What is Marketing “Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that will have value for customers, clients, partners, and society at large.”(American Marketing Association, 2011) Marketing is a process that helps links the consumer, customer, and public to information that will help identify and market opportunities. Marketing research will generate, and evaluate different types of market actions, monitor marketing performance, and help improve the understanding of marketing as a process. It is a good strategy to sales techniques, business communication, and the development of a successful business. The process of marketing creates opportunities for a company to establish a bond with customer and create value between customers and themselves. “Marketing consists of the strategies and tactics used to indentify, create and...
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