Hrm 531 Week 3
PRODUCT MANAGEMENT (FINALS)
March 26, 2014
What will you do to be able to design your sales quotas and sales territories? Why? How would you handle the assigning & organizing of your salespeople/sales person?
Should Krisha will be benefit more if she choose to market her product in and around Luzon, or it will be profitable to market in a large segregate with high market potential?
OBJECTIVES Achieve your sales budget of 1,000,000 numbers in the first year and a growth of 25 percent per year for subsequent 4 years. Make your product (Swish flow fan) more affordable but still can meet your target sales. Monitor salesperson’s performance by means of activity evaluation …show more content…
This will allow them to foresee changing market trends and keep up with the competition. As a manager you'll be able to evaluate your sales force performance better.
CONCLUSION AND RECOMMENDATION
I would consider using all of the alternatives to boost and maximize its accuracy and make sales up to 1,000,000 / year. Therefore I will use the method of relate sales to forecasted (include sales expense budget) Even though Cebu and Davao is the place where Anna want to market her product (consider it as large geographical areas) it may involve high risk for her. So I would rather consider Luzon (manila) as her sales territories that in reality have a high market potential for achieving the sales despite of how Cebu and Davao are large segregate. So, if in 1 territory have estimate industry sales potential for Swish flow fan of 1,000,000/ year, the quota might be set at 25 % of the potential or 250,000. The 25% figure represents the market share of growth that Krisha estimates to be a reasonable target. This 250,000 quota may represent sales over last year that is expected from recently new launch products.
PLAN OF …show more content…
Since your sales territories are within Luzon were your sales office was located, resources needed are reachable and process of sales will be easy. So, you may sell your products with ease and you can market your product accordingly consider your office is near and reachable for communication with other department. Second, consider the number of sales calls and expenses and must be included. This will give your evaluation a complete data of possible sales from quotas. Third, planning the sales calls is a one factor to be considered. It's a source of future sales and may build customer relationship. Fourth, to be able to achieve your sales quotas, it is not enough to rely on sales forecast but opposing exert an extra effort in selling by means of good sales strategy.
The expected results (shown in table below) may help you to evaluate performance, each activity is assigned a quota (250,000 that will results to 1,000,000 sales and 25% growth) and a weight reflecting its relative
March 26, 2014
What will you do to be able to design your sales quotas and sales territories? Why? How would you handle the assigning & organizing of your salespeople/sales person?
Should Krisha will be benefit more if she choose to market her product in and around Luzon, or it will be profitable to market in a large segregate with high market potential?
OBJECTIVES Achieve your sales budget of 1,000,000 numbers in the first year and a growth of 25 percent per year for subsequent 4 years. Make your product (Swish flow fan) more affordable but still can meet your target sales. Monitor salesperson’s performance by means of activity evaluation …show more content…
This will allow them to foresee changing market trends and keep up with the competition. As a manager you'll be able to evaluate your sales force performance better.
CONCLUSION AND RECOMMENDATION
I would consider using all of the alternatives to boost and maximize its accuracy and make sales up to 1,000,000 / year. Therefore I will use the method of relate sales to forecasted (include sales expense budget) Even though Cebu and Davao is the place where Anna want to market her product (consider it as large geographical areas) it may involve high risk for her. So I would rather consider Luzon (manila) as her sales territories that in reality have a high market potential for achieving the sales despite of how Cebu and Davao are large segregate. So, if in 1 territory have estimate industry sales potential for Swish flow fan of 1,000,000/ year, the quota might be set at 25 % of the potential or 250,000. The 25% figure represents the market share of growth that Krisha estimates to be a reasonable target. This 250,000 quota may represent sales over last year that is expected from recently new launch products.
PLAN OF …show more content…
Since your sales territories are within Luzon were your sales office was located, resources needed are reachable and process of sales will be easy. So, you may sell your products with ease and you can market your product accordingly consider your office is near and reachable for communication with other department. Second, consider the number of sales calls and expenses and must be included. This will give your evaluation a complete data of possible sales from quotas. Third, planning the sales calls is a one factor to be considered. It's a source of future sales and may build customer relationship. Fourth, to be able to achieve your sales quotas, it is not enough to rely on sales forecast but opposing exert an extra effort in selling by means of good sales strategy.
The expected results (shown in table below) may help you to evaluate performance, each activity is assigned a quota (250,000 that will results to 1,000,000 sales and 25% growth) and a weight reflecting its relative