Market Development and Sales Assignment

Added on - 21 Apr 2020

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Running head: MARKET DEVELOPMENT AND SALESMarket Development and SalesName of the StudentName of the UniversityAuthor’s Note
1MARKET DEVELOPMENT AND SALESExecutive summaryThe aim of this report is to discuss about the territory management strategy of Fisher & Paykel inlower North Island, New Zealand. Various actions in order to enhance the customer satisfactionwill also be discussed in this report. The discussion identifies that it is important for the companyto set goals in order to focus their activities and motivate their employees to attain success in thefield. Moreover, it facilitates in measure the progress made over time. The goals should beproperly aligned with the activities and interrelated with each other. The report further discussessome of the effective prospecting which can bring success to the company if followed. A detailedanalysis of the territory is presented and identifies some of the opportunities for the company andidentifies territory routing best suited for the company.
2MARKET DEVELOPMENT AND SALESContentsExecutive summary.........................................................................................................................1Introduction......................................................................................................................................3Methods of prospecting...................................................................................................................4Information required for prospecting...............................................................................................5Importance of Goal-Setting.............................................................................................................5Goals for Fisher and Paykel.............................................................................................................6Territory analysis and Accounts Classification...............................................................................7Territory Routing Plan.....................................................................................................................8Steps to ensure the customer satisfaction........................................................................................9Conclusion.....................................................................................................................................10References......................................................................................................................................11
3MARKET DEVELOPMENT AND SALESIntroductionIn the competitive business scenario of New Zealand especially in the sector of electronicappliances, it is important for the business organizations to have effective and proper sales andmarketing strategy to attract to more number of customers. Thus, in order to cater to morecustomers and effectively determining the requirement of the market, it is important for thebusiness organizations to divide the target market in various territories and effectivelyprospecting each territory (Nahm, Ishikawa & Inoue, 2013).Fisher & Paykel is one of the leading organizations offering electronic appliances in themarket of New Zealand. However, the increase in the competition in the market is promptingthem to opt for more effective prospecting of the targeted territory. Fisher & Paykel was firstincorporated in 1934 for importing electronic items from abroad and selling them to thecustomers in New Zealand (Our History - Fisher & Paykel Appliances, 2017). However, in thelater stage, they have started their own manufacturing facilities and are operating in major citiesaround the world. Currently, they are having more than 400 patents with them and their productportfolio is ranging from refrigerators to induction ovens. However, they do not have theirforward integration and thus, they involves various retailers such as Harvey Norman. Throughthem, Fisher & Paykel retails their products in the market.This report will discuss about the territory management strategy of Fisher & Paykel inlower North Island, New Zealand. This particular territory will be analyzed and evaluated in thisreport in order to determine an effective routing plan. Moreover, various methods of prospectingto the potential client will also be discussed. Various actions in order to enhance the customersatisfaction will also be discussed in this report.
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