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Sales Development Marketing Strategy Ikea

   

Added on  2020-02-05

11 Pages3362 Words56 Views
Sales Development

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Analyzing the role of sales teams within marketing strategy.............................................12. Explaining development of sales strategies in line with corporate objectives...................23. Explaining importance of recruitment and selection procedures.......................................34. Evaluating the role of motivation, remuneration and training in sales management.........45. Explaining how sales management organizes sales activity and control sales output.......56. Use of database in effective sales management.................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONIkea is one of the most prominent multinational groups providing wide range of homefurnishing products in UK market. It is the world's largest furniture retailer that designs and sellsready-to-assemble furniture, appliances and home accessories. Company considers its salesdevelopment activities with great importance to maximize its profit. This concept is becomingvery popular even vital in today's competitive market. It is considered as an art that specializes inintroducing products in the market and attracting potential customers to purchase it (Schulze-Bonhage and et.al., 2010). Sales managers work hand-in-hand to increase the ratio of deals andoperations for the corporation. Earlier, it was also termed as business development team, leaddevelopment representatives and sales associates plan. 1. Analyzing the role of sales teams within marketing strategyIkea is well-known for its modern architectural designs of different types of furniture andappliances. Products are manufactured with vivacious interior designing along with prospectiveeco-friendly materials. It is popular among UK clients and big business houses because the salesmangers give proper attention to cost control, corporate attributes, operational details andcontinuous sales development of the commodities. Sales management team is responsible forsetting sales goals and representatives quotas (Chen, 2010). They put in many efforts to achievethe designed targets. Stated strategies are made to offer such pricing and distribution policies thatfavor both the customer’s interest and company’s profit. Managerial teams make use of customersurveys, historical data and industrial reports to develop and work upon a project. The three mainresponsibilities of sales team are given as below:1)To prepare sales plan for the company.2)Make use of optimum resources to assist in implementing plan successfully.3)Evaluating and monitoring the sales plan executed in order to make recommendationsaccording to current and future requirements. As mentioned above, primarily sales team engrosses itself in setting and establishingimprovement targets and sales goals for a specific period (Sales and marketing: An introductionto sales and marketing, 2011). Through sales organization strategies and operational planningprinciple, it formulates key areas to be covered during planning. Direct and indirect channels ofinformation gathering help to understand the market scenario for Ikea. They study their targeted1

customer’s interest related to choice and preferences for product selection and valuepropositions. Now, the business development team of Ikea also plays crucial role in searching andacquiring optimum resources that will be used in executing sales plan. It makes sure that thesources and strategies executed comprise of basis for maximizing company's profit. Here, finance plays an important role and sales team takes care of the fact that it has regularinteraction with this department. The transactions made to promote and advertise the homefurnishings products are accounted and managed on daily basis. Another important role acted by sales team is to monitor sales process and their modelsexecuted. The policies are dealt in the market to attract numerous customers for home appliancesand accessories. Sales team will focus on diagnosing the encountered problem, and then theywill offer corrective actions and coaching to them (Cummings and Worley, 2014.).2. Explaining development of sales strategies in line with corporate objectivesThere are mainly three types of business objectives of Ikea. They are namely; corporate,functional and unit objective. Corporate objectives are related to the business as a whole. The topmanagement focuses on setting of detailed aim for its corporate needs. Sales team ofmanagement also develops such strategies in line of achieving corporate goals of the company.Some of them are discussed as below:Company's profitabilityLike other corporations, Ikea also follows the principle of profit maximization as its firstcorporate objective. Profit helps to recover the cost incurred in production of commodities andprovide more investment opportunities to expand the business. Sales strategies ensure that theproduced furniture and appliances will be promoted and distributed in such targeted areas thatthe company is benefited by easy returns.Customer’s needs and satisfaction Targeted group of customer are essential for the company. Keeping them happy bysatisfying their needs and demands is the key objective of the company. Ikea produces widerrange of products and services for the UK market (DeVellis, 2012). The sales department focuseson retaining its clients and consumers to attain greater revenue along with customer satisfaction.Growth perspective2

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