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Sales Development and Merchandising | Assignment
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Added on 2020-01-28
Sales Development and Merchandising | Assignment
Added on 2020-01-28
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SALES DEVELOPMENT AND MERCHANDIZING
Table of ContentsINTRODUCTION......................................................................................................................1TASK A.....................................................................................................................................11.1 & 1.2 Key components of the product and how the product mix contributes to sales andprofit.......................................................................................................................................11.3 How market segmentation contribute to maximise sales.................................................3TASK B......................................................................................................................................32.1 Factors affecting buyer behaviour....................................................................................32.2 Assessment of the advertising media that could be used for sales developmentsituations.................................................................................................................................42.3 Evaluation of the use of external merchandising to maximise customer volumes...........5TASK C......................................................................................................................................63.1 Assessment of the influence of design and layout on customer spending.......................63.2 Review and evaluation of the effectiveness of internal merchandising materials............73.3 Evaluation of different promotional activities according to different scenarios..............7TASK D.....................................................................................................................................84.1 Evaluation of personal selling techniques........................................................................84.2 Influence of operational design on sales revenue.............................................................94.3 Key principles that should be included in a sales training programme..........................10CONCLUSION........................................................................................................................10REFERENCES.........................................................................................................................11
INTRODUCTIONThe term sales development must be a company’s lifestyle. An organization thatpractices actively the sales development is involves in activities at all level that are developedfor enhancing sales. It contains each thing from development and research to sales plusmarketing. From the perspective of sales, the sales development is an enactment of manner inwhich sales team of company reaches their target customers with the adequate services andproducts. This is all about to ensure that the method utilized for new prospects is costeffective and efficient in terms of developing right type of customers that are both loyal andstay connected for long period with business. On the other side, the merchandisers ensure thatgoods are presented at right time in right stores or online as well as at the correct price. Whilethe customer selects the lines, merchandiser decides about number of lines to be bought andhow much amount must be spend. Also, they analyse data for deciding selling prices and planprice reductions plus promotions. In short, they attempt to increase profits and sales whileminimising costs and stock. Here, in the present assignment both the concept sales development and merchandisingis being discussed in the context of retail scenario by taking example of Walmart Company.One most fun and creative aspect to run a retail store is managing visual merchandisingelements along with effective sales development of retail environment. It means all thingsfrom window display, a potential client first sees that attract them to store, to signage thatleads them nearby and displays of merchandising that catch their eye and influence themultimately to make purchase of something. Through the following paper, the researcher istrying to explain components of products in business context and contribution of marketsegmentation in maximising sales. Moreover, additional sales development techniques isbeing described along with internal sales promotion and merchandising activities. At the end,the report is summarized by explaining role of staff in increasing sales for the Walmart store.TASK A1.1 & 1.2 Key components of the product and how the product mix contributes to sales andprofitA product is just a marketing offering, whether intangible or tangible that is required bysomeone to consume and purchase. In this case one may believe decision of product areexclusively focused on building plus designing consumable elements of ideas, services orgoods. In reality, while decisions about products consumable parts are extremely significant,the total products includes more than what is actually consumed (Armstrong, Kotler and He,1
2000). The total product decisions plus offering faced by marketer can be divided into threemain components, such as:Core benefits – People make decisions of buying that satisfy their requirements. Althoughseveral needs are addressed through service or product consumption, few needs are not. Forexample, consumers might require to be highly perceived by their group members or want acommodity that is simple to use. In all such cases, the core commodity itself is the benefitsreceive by customers from the product use (Belch and Belch, 2003). Actual product – The main benefits are provided by the components that make up actualcommodity purchases by customer. For example, while returning home from shopping atretail store, the customers takes out purchased item from their shopping bags, which isreferred to actual item. Augmented product – Marketers surround their actual commodities often with services andgoods that give extra value to the purchases of customers. While such aspects might not bethe main reason for drawing individuals to make purchase, for some its inclusion strengthensthe decision to buy anything whereas for others its failure force customers not to purchase(Burris, 2016). The following are taken as part of augmented commodity:Customer service;Guarantee;Warranty;Accessibility;Complementary products.With reference to product mix contribution to Walmart sales and profit it has beenanalysed that product mix changes affect profitability and sales even if there is nomodification in pricing of product. It is equally true of costs and margins. For instance, theprice war of supermarket on milk drove high unit volumes however has two seriousinfluences on profitability category (Chand, 2015). The price war was undertaken on homebrand milk products. Although if pricing on such products was not altered, the value gapenhances as the point of entry level price becomes much economical and some customers willmove to purchase inexpensive commodities while the premium items become relatively moreexpensive. This demand shift in between products causes a mix influence on top ofreductions in generic commodities price. The dairy products of Walmart suffered a hugeprofit influence as mix shifted against the products of high margin, which the company was2
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