National Certificate : Diploma in Business : Sales Management

National Certificate/Diploma in Business
Assignment Brief
Student name/ ID Number Yash Sawant
Unit Number and Title 39 Sales Management
Academic Year 2019-20
Unit Tutor Mr. Husain Habib
Assignment title Sales Training and Sales structure & Finance strategy
Issue Date 03/04/2020
Submission Date 04/08/2020
IV Name & Date Ms. Shreya Kanjariya- 06/08/2020
Submission Format:
Task 1( LO1 & LO2, LO3 & LO4)
The submission is in the form of an individual written report. This should be written in a
concise, formal business style using single spacing and font size 12. You are required to make
use of headings, paragraphs and subsections as appropriate and all work must be supported
with research and referenced using the Harvard referencing system. Please also provide a
bibliography using the Harvard referencing system. The recommended word limit is 9,000 to
9,500 words, although you will not be penalized for exceeding the total word limit.
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Unit Learning Outcomes:
LO1 Demonstrate an understanding of the principles of sales management.
LO2 Evaluate the relative merits of how sales structures are organised, and recognise the
importance of ’selling through others’.
LO3 Analyze and apply principles of successful selling.
LO4 Demonstrate an understanding of the finance of selling.
Assignment Brief and Guidance:
You are the Sales Manager for a medium/large local organization and once a year there is an
sales meeting with all the sales representatives all across the country. You have been asked
by your Sales Director to write a report that will be given out at the annual sales conference.
The report should include the following:
•An introduction to the organization.
•Definition of sales management.
•Explanation of the key principles of sales management, focusing on planning, selling and
reporting. You may evaluate how principles of sales management will be different in
response to consumer and business buying behavior.
•Defining and explaining sales structures.
•Using examples from your own organization, as well as other organizations, to evaluate the
benefits of sales structures and how they are organized. You may critically evaluates the
implementation of different types of sales structure using specific organizational examples
(e.g. geographic, marketing, product sales).
•Describe the concept of ‘selling through others’ and explain the importance and advantages
of using this sales technique. Use relevant examples to enhance your answer.
•Describing and explaining the key principles and techniques of successful selling.
•Analyzing how these principles and techniques contribute to building and managing customer
relationships. Use examples from your own organization as well as from other organizations.
You may critically analyze the application of successful selling principles and techniques in
application to specific organizational examples.
•The student may produce a coherent, fully justified critical evaluation based upon a
comprehensive understanding of sales management, structure and selling technique within
an organizational context.
•Explaining the importance of developing sales strategies that yield highest profitability and
incorporate account management within sales structures. This may also have evaluation of
how core finance principle and successful portfolio management can lead to increased
profitability and competitive edge. This can be critically evaluated and make
recommendations on how sales structures and approaches can improve financial viability.
•Conclusion
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Grading Criteria
Learning Outcome Pass Merit Distinction
LO1 Demonstrate an
understanding of the
principles of sales
management
P1 Explain the key
principles of sales
management in
relation to the
importance of sales
planning, methods of
selling and sales
reporting.
M1 Evaluate how
principles of sales
management will be
different in response
to consumer and
business buying
behavior.
D1 Produce a
coherent, fully
justified critical
evaluation based
upon a
comprehensive
understanding of
sales management,
structure and selling
technique within an
organizational
context.
LO2 Evaluate the
relative merits of
how sales structure
are organized, and
recognized the
importance of ‘selling
through others’.
P2 Evaluate the
benefits of sales
structure and how
they are organized,
using specific
organizational
examples.
P3 Explain the
importance and the
advantages of the
concept of ‘selling
through others’.
M2 Critically
evaluates the
implementation of
different types of
sales structure using
specific
organizational
examples (e.g.
geographic,
marketing, product
sales).
LO3 Analyze and
apply principles of
successful selling.
P4 Analyze the key
principles and
techniques for
successful selling and
how they contribute
to building and
managing customer
relationships in
application to
specific
organizational
examples.
M3 Critically analyze
the application of
successful selling
principles and
techniques in
application to specific
organizational
examples.
LO4 Demonstrate an
understanding of the
P5 Explain the
importance of
M4 Evaluate how
core finance principle
D2 Critically evaluate
and make
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finance of selling. developing sales
strategies that yield
highest profitability
and incorporating
account
management within
sales structures.
and successful
portfolio
management can
lead to increased
profitability and
competitive edge.
recommendations on
how sales structures
and approaches can
improve financial
viability.
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Index
Executive summary ...................................................6
Introduction ............................................................7
Explain the key principles of sales management in relation to the importance of
sales planning, methods of selling and sale reporting .............8
Evaluate the benefits of sales structures and how they are organized using
specific organizational examples ....................................15
Explain the importance and the advantages of the concept of ‘selling through’
others.......................................................................23
Analyze the key principles and techniques for successful selling and how they
contribute to building and managing customer relationships in application to
specific organizational examples .....................................38
Explain the importance of developing sales strategies that yield highest
profitability and incorporating account management within sales structures..
..................................................................................41
Bibliography ..............................................................44
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Executive summary
The topic for the paper below is sales management. The paper begins with understanding the
key principles of sales management for an organization, such as Vijay sales. The author also
incorporates the consumer buying behavior and businesses buying behavior in relation to the
key principles stated. The various sales structures present for any organization is explained
with graphical illustrations and the author presents the sales structure used by Vijay Sales and
its competitor, Croma. The sales structure for Vijay sales is critically evaluated by the author.
The concept of selling through others is explained in order to understand the practical aspect
of it. In order to have successful selling and a relationship with customers, an organization
must be able to combine their key principles of sales management along with the techniques
of sales. Finally, the author explains the importance of sales strategies in order to gain high
profitability for the organization as well as the sales structure for Vijay sales that allows them
to identify their key account managers.
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Sales Management
Vijay sales is a partnership firm owned by Mr. Nanu Gupta. Vijay sales is one of Mumbai’s
leading chain of electronic stores, and have spread across India. They have exquisitely
designed and conveniently located outlets that cater to all kinds of customers with various
budgets and preferences. They offer one of the best quality and service in their industry. They
promise to satisfy their customers’ needs and provide efficient after sales services.
The turnover for his partnership firm was Rs 3,250 crore last financial year and is close to
touching Rs 3,700 crore in 2017-18.
Image 1.1
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Explain the key principles of sales management in relation to the importance of sales
planning, methods of selling and sale reporting
Sales management is defined as the efforts put forth to attain a company's sales objectives.
Sales management can involve any of the following activities: (1) formulation of sales
strategy through development of account management policies, sales force compensation
policies, sales revenue forecasts, and sales plan, (2) implementation of sales strategy through
selecting, training, motivating, and supporting the sales force, setting sales revenue targets,
and (3) sales force management through development and implementation of sales
performance, monitoring, and evaluation methods, and analysis of associated behavioral
patterns and costs. (BusinessDictionary.com, 2019)
This means that sales management is the method of producing a sales force, coordinating
sales operations, and implementing sales techniques that enables a firm to consistently
surpass its sales targets.
Key principles of sales management
1. Sales planning
Sales’ planning is a dynamic but essential process of sales management. A good sales plan
includes how the company is planning to reach the customer, and what is the after sales
service plan of the company. It also includes building a profitable customer oriented sales
team.
Sales’ planning also includes recruiting and training sales personnel and to direct the sales
team. Recruiting sales personnel is an integral part of sales management. It includes
analyzing the open position, creating a job description and qualifying the applicants. It
ensures the right people are hired to sell and lead. An untrained sales professional is a costly
investment for the company. Instead, it is better to train sales professionals and keep
upgrading their skills so that they perform in the market. It ensures the sales personnel to be
educated in order to satisfy the customers. Team management is a crucial part of sales
management. A coordinated sales team can perform better than an uncoordinated sales team.
The sales team must coordinate with the product team, the service team, the logistics team
etc. It involves guiding people to perform at above average level.
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