This report discusses the importance of modern selling procedures and how global organizations like Woolworths leverage commercial success. It also explores the primary selling platforms used by Wesfarmers and Coles.
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Running head:GLOBAL SALES MANAGEMENT Global sales management Name of student Name of University Author note
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1GLOBAL SALES MANAGEMENT Part A Introduction The report is prepared to discuss about the global organisations such as Woolworths, which has leveraged commercial success with the use of modern selling platforms and enabled attractionof moreclientsand higher revenue generationtoo. The topicalso highlights the importance of the modern selling procedures that are managed by the business organisation to sustain in the competitive business environment with ease and effectiveness (TöytĂ€ri and Rajala 2015). Analysis Woolworths Group Limited is a major retail supermarket chain in Australia that has delivered products all over Australia and New Zealand. This has enabled the company to manage its local as well as global business operations with convenience, furthermore achieve the desired level of profit and attain competitive advantage in business. The annual revenue is over $59 billion and here are more than 200,000 employees working for the organisation at present. With the changing consumersâ demand and expectations along with changes in global supply chains and online buying behaviours, the sales have become a complex process, which needs to be dealt with properly (Woolworths.com.au 2019). The company has followed various marketing functions that are integral to the success of commercialisation and at the same time, facilitate the sales functions, furthermore generate good amounts of revenue in business as well. The sales professionals have used the networks to leverage the modern selling techniques and to generate more clients, furthermore enhance the level of profit and competitive advantage in business as well (Bell and Ternus 2017). Modern selling best practices The modern selling practices that can be adopted by the business organisation Woolworths is to develop the network, which can be possible by social selling. According to Brothersonet al. (2015), it is also important to create good connections by making referrals, furthermore ensure influencing the clients to make purchases from the organisation. With the use of modern selling characteristics, the company would be able to manage collaborative selling such as by using the online technologies (Brotherson et al. 2015). It would help in controlling the sales process, furthermore assist in understanding at first that all the prospects would not becomepurchasers. It would help in understandingabout their needsand
2GLOBAL SALES MANAGEMENT preferences, furthermore determine what could be done for them and this should be possible with the help of active listening (Kerzner 2018). Woolworths should need to constantly interact with the clients through social media platforms and by sending emails to gain insight about their demands and expectations, furthermore allow them to provide their views, opinions and feedbacks for the products and services.Lee, McNulty and Shaffer (2015), on the other hand, stated thatthe collaborative selling technique is based on the idea of value creation, which can also make Woolworths Group Limited to keep good relations with the clients and meet the business goals and objectives (Lee, McNulty and Shaffer 2015). Thethoughtleadershiphasalsobeenagreatcontributortoachievementof commercialsuccessthroughutilisationofmodernsellingcharacteristics.Thethought leadership could be integrated with the formats of stores for the future, present and even for the later strategic implementation, which should improve the store design and at the same time, facilitate the refurbishment plans to enhance the brand image and identity (Vogl, Weiss and Helu 2016). The restructuring program should be enabled to manage the lean operations, furthermore ensure deliver better customersâ services to enhance the level of engagement of clients and aim to achieve higher sales and profit in the future too.Thus, the utilisation of modern selling features could be a turnaround strategy for the business to sustain in the competitive business environment with much ease and efficiency. It was also found that Woolworths had been losing a large number of customers with the presence of competitors in business, which could also affect the sales generation and profit level.Slamaet al. (2015) argued that the modern selling technique related to the rewards strategy could be beneficial for the company to establish a sense of trust and loyalty among the customers. On the other hand, the online strategy involving the use of various social media platforms would tend to be successful considering the fact that online purchase of products and services would be much easier for the customers to gain access to those, furthermore they could search from a wide range of products available and made visible on the website (Slamaet al. 2015). This could not only make Woolworths provide a great facility for the customers to choose from a wide range of products and services, but would even facilitate the social media marketing to target the right market segments (Robertson 2016). The commercial success can be achieved when the strategic issue are overcome, which can be done by Woolworths by managing a new platform from where the customers
3GLOBAL SALES MANAGEMENT can gain access to the products and services. For example, the organisation used to face strategic issues while operating within the competitive retail industry and thus a new online shopping website was introduced, which can be considered as a modern selling technique. Tamburro and Wood(2013) stated that the management department analysed the current trends within the marketplace and made sure to deliver products and services online and hold a desirable market share. There were always threats of new entrants, substitute products and services along with the threats of competitors, which were dealt with by coming up with the newandinnovativestrategies,furthermoreensurepreventionofstrategicissuesand possibilities of reoccurrence along with retaining the positive brand image and reputation (Tamburro and Wood 2013). In terms of healthy food options available all over Australia, Woolworths has maintained a good position by implementing a growth strategy that can allow the company to leverage the commercial success and even create extended reach to the different market segments in Australia and New Zealand. The order getters with the involvement of front line sales people would help in identifying new business scopes and opportunities, furthermore maage negotiations and develop a profitable business. Another modern selling aspect could be the social media marketing strategy, which should make the organisation use different social media platforms, because most of the people, nowadays, are tech savvy and are habituated with the use of social networking websites. Thus, the company could make tweets and create posts on the social media platformsrelatedtotheproductsandservicesmadeavailablefortheclientsbythe organisation, which could be a massive approach to benchmarking and aiming to achieve the goals and objectives with ease and effectiveness too (Young 2013). Not only does the social media networks assist the company in making a wider reach and enable clients to remain informed about the new productsâ features, but it can also help in responding to the clientsâ queriesmuchmoreeasily,whichfurtherfacilitatesthecustomersservicesâdelivery effectiveness. By posting comments regarding the products and services by the clients, the company should be in constant touch with them by responding to their queries and even checking for the feedbacks, based on which, they could be provided with the items that should cater to their needs and preferences (Bourne 2015). This is an essential selling method that can influence the consumer buying behaviours, furthermore help in increasing the sales generation and profitability achieved by Woolworths, Australia.
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4GLOBAL SALES MANAGEMENT Recommendations It is recommended to implement the social media platforms and engage more clients bydeliveringbettercustomersâservicesandretaintheexistingcustomerstoo.Itis recommended to pay more attention to the operational behaviours and maintain stable relationships with the suppliers to focus on cost reduction and comply with the laws, rules and regulations. The differentiation of products and services is recommended for Woolworths to ensure delivering products and services that can be distinguished by the customers from the other company products and services. The supply chain should be optimised every time for ensuring that the threats are overcome and the logistics operations are carried out nicely as well Conclusion ThefirstpartoftheGlobalsalesmanagementreportfocusedhowaglobal organisation like Woolworths would be able to leverage commercial success with the use of various modern selling methods. The collaborative selling and thought leadership were few of the modern selling characteristics of the procedures used to manage the lean operations and create a turnaround strategy for sustaining in the competitive business environment. One of themosteffectiveprocedureof modernsellingcouldalso betheonlinestrategy implementation and involving the social networks to form god relationships with the clients, furthermore keep hem encouraged and influenced to trust the company and make purchases of products consistently. This would also make the company attain new heights of success and attain competitive advantage as well. Part B Introduction In this section of the report, the two global organisations selected are the Wesfarmers and Coles, which have used different primary selling platforms to attain commercial success along with better reach to the market and enhancing sales revenue. The primary selling platforms are critical to the success of creating a wider each to the different market segments, furthermore ensure facilitate the businessesâ ability to sustain in the competitive marketplace as well as create positive mind sets among the clients.
5GLOBAL SALES MANAGEMENT Brief history of organisations The story of Wesfarmers began at the year of 1914 with the emergence of demands and expectations by the rural workersâ Union demanding lesser working hours and higher wages.Tosupporttheruralcommunity,theWestralianFarmersLimitedstartedits operations, which also allowed the farmers to grow, produce as well as market the produced goods to the clients, which slowly came to be known as Wesfarmers. During the year 1949, Wesfarmers acquired Ashburton Transport Company and even Gascoyne Trading Company to supply produces in the Western Australia and slowly in the year 1984, the company restructured from a co-operative to a public business, which facilitated business management and supported the rural communities. Soon, the company gained pace and till now it has been one of the major drivers of economy and growth within the conglomerate industry (Leenders et al. 2015). Wesfarmers Limited is located in Perth, Australia and manages retail chain trough selling of chemicals, fertilisers, safety products, industrial and coal mining products, etc. The company has over 220,000 employees and a revenue of more than A$68.44 billion. Wesfarmers even purchased Coles Group retail business, which has been still one of the most successful and larges take over in the corporate history of Australia. Considering the history and background of the organisation, Commonwealth Bank was introduced according to theCommonwealth Bank Act 1911, which focused on the bank nationalisation during the year 1911. It was the first bank in Australia, which gained the federal Government guarantee and was opened in 1912 in Melbourne. By the end of 1913, it has already opened multiple branches in the various states of Australia and soon moved its head office to Sydney. In the year 1920, the bank acquired central bank powers and took over the responsibility of managing the issues over bank notes from the Treasury department, furthermore also acquired Queensland Government Savings Bank (Van Alstyne, Parker and Choudary 2016).The bank roles started expanding, which allowed for introducing new branches all over while the diversification was managed as well with the introduction of credit cards and operating as a joint venture with National Bank of Solomon Islands. At present, the bank has started its operations al over the world in India, UK and in other nations as well for ensuring good financial operations along with management of a positive brand image, name and reputation to sustain in the competitive business environment.
6GLOBAL SALES MANAGEMENT Analysis of sales platforms The primary selling platforms are those platforms through which the companies can make productsand servicesavailablefor the clientsand at the same time,facilitate information and knowledge distribution about those products and services to the clients. This would make them influenced to purchase the products and services, furthermore gain positive mind sets and a sense of trust and loyalty about the brand should be formed too (CordĂłn- GarcĂa et al. 2013). The primary selling platform for Wesfarmers has been managed by extending the loyalty program to the largest online marketplace named Ebay. Ebay has brought the Flybuys to create a platform according to the Wesfarmersâ deal to facilitate selling of food items and influencing the buying behaviours of consumers too. The shoppers of Ebay can use the Flybuys points with Wesfarmers within the marketplace and at the same time, facilitate the achievement of mission to ensure transformation and innovation with the leveraging of data as well as digital capabilities and skills. With this partnership, there will be management of loyalty programs, which can also assist the company to stay ahead of the competitors in business. The acqusitions of Coles has further helped in expanding the wide range of products and services, which is critical to the success of business with the help of acquiring customers online and creating convenience for them to make purchases by using the website effectively (Tuten and Solomon 2017). With the involvement of social media platforms, positive reviews and feedbacks have been obtained, which has also helped in forming stable relationships with the clients, furthermore responded to their queries (Wesfarmers.com.au 2019). At present, Commonwealth Bank has managed wealth and mortgage broking to sell general insurance business and at the same time, focused on the major banking operations all over Australia and New Zealand. One of the most effective selling platforms could be the online trading platform, which should allow for selling the loans to facilitate the domestic banking system and at the same time, inform the stakeholders to engage altogether. The online trading system should enable syndication of loans and disclose the credit events, furthermore manage the loansâ digitisation and keeping legal documents safe and secure along with the management of bidding platform to sell the assets. With the banking operations managed at over 1000 branches, the social networks are used to facilitate internal collaboration as well as manage good connections with the customers (Ashley and Tuten
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7GLOBAL SALES MANAGEMENT 2015). It is useful for enhancing the effectiveness of communication process while the social networks acted as great components for the brandâs marketing strategy. The use of social networks such as Facebook and Twitter has helped in the utilisation of Salesforce platform and manage conversations to create new opportunities of growth and development in business within quick time (Commbank.com.au 2019). Financial performance The financial performance of Commonwealth is quite good considering its delivery of strong and positive business outcomes within a challenging period. The company has achieved a cash net profit after tax based on the continuous operations and business processes that account for over $4,676 million, which is around 1.7 per cent. The transformation gas been simple though the interim dividend is $2.00 per share (Tiago and VerĂssimo 2014). Commonwealth Bank in Australia has disclosed a statement regarding the yearly cash net profit of $9.233 billion at the end of the year 2018. On the other hand, Wesfarmers also boosts of a good financial status with the acquisition of Coles and this has helped in enhancing the sales revenue and profit level too. The companyâs total assets value over A$40.12 billion, due to which, the net income is A$2.87 billion and the revenue generated is
8GLOBAL SALES MANAGEMENT over A$68.44 billion. The company generated good amounts of revenue, which denotes the good financial performance of the organisation. Recommendations For Wesfarmers, it is recommended for the management to return capital to the investors or shareholders rather than buying the businesses. To enhance the digital platform, it is recommended to expand its range of products, furthermore ensure taking share from the commercial wholesalers and gain good market growth too. Another recommendation for Wesfarmers is to restructure Blackwoods distribution for gaining better financial results In case of Commonwealth bank, it is recommended to engage the Government, regulatory bodies and industry bodies to ensure undertaking actions that can enable changes andallowthecompanytotakeimmediateactions.Themanagementoftrainingand developmental sessions to the employees is recommended as well for improving their skills,
9GLOBAL SALES MANAGEMENT knowledge and expertise. It is also recommended to strengthen the corporate governance, further prioritise on the customers at first and focus on the achievement of sustainability within the competitive business environment.
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11GLOBAL SALES MANAGEMENT Tiago, M.T.P.M.B. and VerĂssimo, J.M.C., 2014. Digital marketing and social media: Why bother?.Business horizons,57(6), pp.703-708. TöytĂ€ri,P.andRajala,R.,2015.Value-basedselling:Anorganizationalcapability perspective.Industrial Marketing Management,45, pp.101-112. Tuten, T.L. and Solomon, M.R., 2017.Social media marketing. Sage. Van Alstyne, M.W., Parker, G.G. and Choudary, S.P., 2016. Pipelines, platforms, and the new rules of strategy.Harvard business review,94(4), pp.54-62. Vogl, G.W., Weiss, B.A. and Helu, M., 2016. A review of diagnostic and prognostic capabilities and best practices for manufacturing.Journal of Intelligent Manufacturing, pp.1- 17. Wesfarmers.com.au.(2019).Home.[online]Wesfarmers.com.au.Availableat: https://www.wesfarmers.com.au/ [Accessed 12 Mar. 2019]. Woolworths.com.au.(2019).{{metaController.metaData.title}}.[online]Availableat: https://www.woolworths.com.au/ [Accessed 12 Mar. 2019]. Young, L., 2013.Thought leadership: Prompting businesses to think and learn. Kogan Page Publishers.