MGMT 231 : Sales Management : Profit Making Organization

The objective of this assignment is to have you shift from the consulting perspective in the first assignment to a product strategist for this assignment.  Therefore, you will be required to come up with a potential product solution to meet the current needs of a target market.  The key will be how you develop a strategy to ensure that product or service does well in sales.  This product or service must be new to the Edmonton or Alberta market.  It can either be something you came up with, or something that exists in other parts of the world but is not sold here.

Answer:

Sales Management

The main objective of any profit-making organization is profit maximization, which is the general objective of all the business around the world. This can be achieved by proper management of sales of products produced by the firm. Therefore stakeholders and owners of the business need to give maximum attention in sales programs by creating the product solution and coming up with better sales strategies through sales team in order to be safe in the current competitive market.

Creation of product solution to the market. This entails customizing the product or making it be the best for an individual household needs. They are always associated with highly technical services offerings like technical consultant team. According to, (LaForge, William & Schwepker 2015). They argued that in product solution, the team involves has to in details explain the significance of their products to the target market. This will enable the consumer with indifference tastes to weigh out the value of the other products in the market with the one in question thus most of such consumers will definitely go for the well-elaborated product hence improve in sales of such products will be realized enabling the firms to produce at their maximum as many of the households will have a greater taste towards their products.

Manufacturing firms are also required to include some of the unique features in their products which will distinguish their products from others in the market, such features should be attractive to the households hence attracts them to the product. They can either include the drawings on the products, for instance, to goods associated with muscle growth, a picture of a strong man should be on the package cover so as to make the small-bodied consumer believe that with time they will grow such muscles hence will choose such product for consumption. (Tanner, Honeycutt, Erffmeyer & Honeycutt, 2014).

Price recommendation on a product also has a big impact on the consumption of such product and delivery options. Following difference in income of the households, the low-income consumers will always choose cheaper products than the most expensive ones since they cannot afford such products, therefore price recommendation will help the households drawing their consumption budget hence they will have a choice to make an opportunity cost depending on the price. (Bullivant & Institute of Credit Management 2016).Delivery options are some of the after sale services which will motivate the consumer to buy a certain product since the cost of transport will be incurred by the company. The firm may set aside some of its vehicles for delivery purposes since many of the households tend to fear the transportation cost as some has no cars and resides away from the central business premise, therefore through delivery options, will enable the sales team to reach out to many consumers thus contributes to the set goals of the firm. (Laudon, & Laudon, 2015).

In a competitive market structure, every manufacturing and profit-making firms will tend to outdo each other in the market by either producing more quality products or offering incentives like rewards to the consumers of their products. For a firm to maximise its sales in such a competitive environment, they have to check on their immediate competitor in terms of goods they produce and how they conduct their marketing. (Rustenburg & Steenbeek, 2016).

Sales strategies. These are the designed procedures and principles on how the sale will be done in order to coop up with the competitive market so as to give the best sales out for the products. Organization’s management body has to come up with a proper strategy in which marketing and selling of their products should be done in order to meet their expectations and goals of profit maximization which is only possible when an effective strategy is set out.

(Connett, Abratt & Cant, 2010).Discussed such strategy as setting out the sales team. The team selected by the organization`s management will have the role of marketing the firm's product and convincing the households to change their taste to the products they market. They will be responsible for responding to the questions or making clarifications to the consumer about the product. This strategy will aid in sale boost since the sales team will always be available whenever a customer needs clarification or any queries concerning to the product and make a possible adjustment in the line of queries received, thus consumers will feel catered for hence continue buying from the organisation. (Jobber and Lancaster, 2019).

Improving sales strategies like customer rewards and giving out some products on offer will focus customer’s attention to the particular firm as rewards are believed to signs of appreciation to the market as a whole. Other strategies like advertisement also help in publicising the organization and that builds the name brand. (Linoff & Berry, 2011).

Conclusion:

Sales management requires a well-structured department which their primary goals are to foresee the marketing of the firm`s products and build a relationship between the consumer and the firms thus contributes to the set goals of the firm. With the implementation of the above-discussed strategies by the organization, in the marketing and sale of their products will place the firm on top in the competitive market.

This will also sell the company`s brand name positively in the market which is advantageous to both the management and owners of the organization in a way that new investors who may be interesting in shares will prioritize such firms and also suppliers too will go for such organization due to positive ratings by the customers.

In the line of the fair prices and customer care services, it will draw good number of the consumers in the market making them focused on their products as they feel part of the organization thus increased sales volume which boost the organization`s profits.

To realise high sales volume, the management team in the organization need to practice the above strategies in the managing their sales which place them on top of the current competitive market.

References:

Bullivant, G., & Institute of Credit Management. (2016). Credit management. London:     

Routledge.

Connett, B. I., Abratt, R., & Cant, M. (2010). Sales management. Sandton, Johannesburg:

Heinemann.

Ingram, T. N., LaForge, R. W., Williams, M. R., & Schwepker Jr, C. H. (2015). Sales

Management: Analysis and decision making. Routledge.

Jobber, D., Lancaster, G., & Le, M. -F. (2019). Selling and sales management.

Laudon, K. C., & Laudon, J. P. (2015). Management information systems (Vol. 8). Prentice

 Hall.

Linoff, G. S., & Berry, M. J. (2011). Data mining techniques: for marketing, sales, and

Customer relationship management. John Wiley & Sons.

Rustenburg, G., & Steenbeek, A. (2016). Sales management.

Tanner, J., Honeycutt, E. D., Erffmeyer, R., & Honeycutt, E. D. (2014). Sales management.

Pearson.