Sales Management Report

This report examines the key principles of sales management and their application in Marks and Spencer, a leading UK retailer. It covers sales planning, sales structures, successful selling techniques, and the importance of developing sales strategies to increase profitability. The report also analyzes the role of account management and core finance principles in achieving a competitive edge.

SALES MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Key principles of sales management in relation to the importance of sales planning and
methods of selling.......................................................................................................................1
M1. The way principles of sales management will be different response to consumer and
business.......................................................................................................................................2
TASK 2............................................................................................................................................3
P2 Benefits of sales structures and how it organised with using specific organisational
example.......................................................................................................................................3
P3 Importance and advantages of the selling through others......................................................4
M2 Evaluate the implementation of different types of sales structures......................................5
TASK 3............................................................................................................................................5
P4 Key principles and techniques for successful selling and how it contributes .......................5
M3 Critically analysis application of successful selling principles and techniques ..................7
D1 Critical evaluation based on comprehensive understanding of sales management, structure
and selling...................................................................................................................................7
TASK 4............................................................................................................................................7
P5 Importance of developing sales strategies with increasing highest profitability and
incorporating account management............................................................................................7
M4 Core finance principles and successful portfolio management to lead to increase
profitability and competitive edge..............................................................................................8
D2 Recommendation ..................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Sales management is an important element that assists to develop desired results at the
workplace. It includes several activities and tasks that help to fulfil customer’s requirements and
support the whole team. With the help of setting right prices, distribution, continuous working
with marketing increases selling efforts (Gallino, Moreno and Stamatopoulos, 2016). In this
context, present report is based on Marks and Spencer which is one of the famous retail sector
businesses of UK. They create marketing activities and plan to promote the desired results in
enterprise. For gaining insight information of present report, it can be stated that it covers the key
principles of sales management in relation with importance. Furthermore, it includes benefits of
sales structure with organisational examples. Along with this, it consists of tools and techniques
for successful selling which contributes to build and manage the customer relationship.
TASK 1
P1. Key principles of sales management in relation to the importance of sales planning and
methods of selling
Definition of sales management
Sales management is the business discipline that is focused on practical application
regarding sales techniques in management of firm’s operations. In other words, it helps Marks
and Spencer to make success and precise sales management process. It also allows to stay with
competitive marketplace (Ayers and Odegaard, 2017). There are mainly three aspects of gross
sales management such as sales operations, sales strategy and gross revenue analysis. Following
are certain key principles of sales management:
Key principles of sales management and interrelationship with importance of sales planning Managing people individually: In order to work successfully as sales manager, it can be
stated that all people must be managed in particular group. It considers appropriate to
praise in group environment. In Marks and Spencer training, constructive criticism,
disciplinary actions and provide useful framework create positive outcomes (Ramos,
Santos and Rebelo, 2015). Leading with example: With the help of positive work and example, it can be stated that
managers must consider their operations with keeping staff members in mind. Policies
and procedure must be carry out according to the standards of the enterprise. Successful
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sales manager of Marks and Spencer lead as a leader so that self-discipline also followed
in systematic manner. Maintaining discipline in organisation: People also work in an environment to justify
rules and regulations successfully. This is basically to comply the framed rules and
regulations that are to be followed by the respective set of workers in organisations like
Marks and Spencer. Reasons and justifications for the rules and regulations followed to
maintain and take necessary actions (Huisken, 2018). Managing on objective information: Sales people also despise with their sales managers.
It is usually based how sales manager of Marks and Spencer do their job on the basis of
opinion rather than objective information. Improvement in performances statistics can be
completed with objectives (Kadic-Maglajlic, Micevski and Lee, 2017). People will
improve on what you inspect. Everyone entitled to opinion but they have no place in sales
management. Be goal oriented: As a sales manager of chosen enterprise, goals and objectives must be
completed. In many cases, salespeople must accomplish their activities in a systematic
manner. Goal oriented operations are hitting goals and attain more targets within their
primary purpose in the enterprise (Agnihotri, Dingus and Krush, 2016). On the basis of
this principle, it can be stated that being a successful enterprise, this principle must carry
on to maintain more growth and work results. Be direct to the point: In this regard, it is important to provide coaching and training to
sales people. It is very easy to become misunderstand and be confused about what they
are saying so that it is important to be straight forward to attain more desired work
performances with exact knowing. Primary purpose of goal oriented is that hitting goals
and attain successful results (Mani, Kesavan and Swaminathan, 2015). Therefore, direct,
clear and concise conversation will help to get message to be conveyed by them easily.
 Pursuing the golden rule of managing sales- This refers to a foremost rule of managing
sales where the concerned officials should hereby refer treating others in a way, they
themselves want to get treated. It is basically to attain a mature staff with proper
intellectual skills and a basic knowledge of the way in which they are required to perform
their allocated duties. It is apparent to improve the practices adopted for sales with an
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effective level of planning for the same. Handling the work without fear, pressure and
fines or punishments is a main agenda of this principle.
 Being active on the floor- This states yet another vital necessity of the sales manager for
an effective handling of sales at the workplace. It is on considering the fact of not being
effective from behind. Instead, the sales manager of the cited firm is required to involve
into the procedure of sales. This is for instance on referring to a real situation of being
present on the floor to listen to the carried presentation of the sales people.
Models of selling B2B and B2C
B2B strategy is most useful strategy which consider advanced level that offer products in
particular group of people to deal with different customers. Business system select appropriate
product that display with customer logo. It streamlines process for business customers which
browse to find appropriate product. Marks and Spencer integrate business system with suppliers
to manage purchasing, stock holding and distribution system as well.
Beside this, B2C is also form of business to consumer which consider process for selling
products directly to consumers from a website. In Marks and Spencer, consumer browse product
information pages on website to select products and pay for them towards delivery.
M1. The way principles of sales management will be different response to consumer and
business
In sales management, there are several functions and operations has been carried to
promote desired results. In this way, Marks and Spencer consider different principles that helps
to examine importance of different responses. Training and development program helps to
provide coaching session to examine other eight (Fernie and Sparks, 2014). Along with this,
sales managers also play very important role in every business so that it is likely to perform and
organise drives sales team to achieve goals. Increased revenue and productivity, created with
sales management to generate passion to boost moral with individual. This is mainly on referring
to 2 distinct type of selling called Business to business (B2B) and Business to customers (B2C),
both determines different type of buyers with distinct set of requirements. The sales managers of
the quoted enterprise are thus required to respond in a different manner to fulfil their different
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type of needs and demands. Also, the organisations are required to create a sustainable plan of
selling to meet the desired requests of both the parties.
TASK 2
P2 Benefits of sales structures and how it organised with using specific organisational example
Sales structure
Sales structure consider the most important part for setting sales department and for
effective results. With the help of different structures, Marks and Spencer get several benefits in
being successful. Better understanding also helps to influence the structure of the sales
department (Aye, Balcilar and Majumdar, 2015). As a result, it is equipped and evaluated with
appropriateness. They are as follows:
There exists different type of sales structure namely geographic, product sales force,
functional and market based structure, each of it with their distinct set of benefits.
Geographic organisational structure: In this kind of structure areas of responsibilities
defined as per specific geographic areas. In order to use this structure, different advantages to the
company such as low cost, proper territory management, low of duplication efforts, etc. The
chosen enterprise using this structure to consider appropriate setting of responsibilities in
different areas (Roggeveen, Nordfält and Grewal, 2016).
Product sales force structure: In this kind of structure, Marks and Spencer consider areas of
responsibilities which defined on the basis of product or product groups. Benefit of this structure
is that sales reps develop product expertise. Furthermore, management can guide selling efforts
easily (Brennan and Schroeder, 2014).
Customer based sales structure: It is also known as market based structure in which
responsibilities defined by customer groupings. Benefit of this structure is that sales reps to know
needs of customers which build stringer relationship among them. Management control
strategically (Nguyen, Nica and Bose, 2015).
Benefits of choosing right structures
 Benefit of choosing right structure is that responsibilities clarify across selling roles
which differ from product lines and markets.
 Strong coordination and communication across sales roles also mobility and increases
time for actual selling.
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 Ideas also shared to willingly work in the business.
 Reduce channel of conflicts.
Benefits of mentioned sales structure and organised it
From the above, geographical organisational structure is the best perspective which is
well suited for large enterprise. It also assists to locate production facilities in which labour costs
favourable and suppliers easily ready to support enterprise. For instance, smaller enterprise
benefit in term of setting organisational structure. Manufacturing facility is also found in
successful way for retail enterprise such as Marks and Spencer. In Tesco company, it creates
several disadvantages because strong leadership, brand identification and well understood
mission not easily predominant.
P3 Importance and advantages of the selling through others
Concept of selling through others
Selling through others could be defines as intermediary is involved which is cost
effective way to reach towards end customers than selling to them directly. Marks and Spencer
targets customers and prefer to deal with maximum number of suppliers and considers sales
directly with realistic option to individual consumers buy low quantities of products (Laffy and
Walters, 2016). Efforts are also made with relatively small number of wholesalers who turn
supply of products to many retailers. With respect to implement selling through others, retailers,
wholesalers and other distributors included. When Marks and Spencer targetting business
customers who prefer deal with large suppliers so that they can consider selling directly to them
without realistic option. Wholesalers consider existing relationship with those business.
Another strategy of selling through others is individual consumers who buy low
quantities of products which is the best option to target retailers with similar products. Efforts are
made with relatively small number of wholesalers who can turn supply products to many
retailers.
In the retail distribution, there are some importance and advantages which are important
consideration in retail sector. They are as follows:
Importance Selling complex products: In selected enterprises, with selling through others must be
considered to demonstrate explain products to potential customers. It helps to deal with
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sales representatives that present in logical way. It focuses on benefits that are relevant to
different decision-makers. Managing the sales cycle: Selling through others is also important element for the
enterprise that helps to marketing products and services which involves several stages. It
includes final purchase decision with sales representatives that influence each stage.
Prospects also receives technical information to make proper decisions and maintain
contact.
 Developing customer relationship: In order to build long term revenue for future, it can
be stated that representatives use personal skills for maintain strong relationships. With
the help to contact customers to make purchase decisions also made that demonstrate
high level of customer care.
Advantages Reach: Selling goods through retail channels extended consist geographical reaching
towards Marks and Spencer. Setting with outlets and hire team for sales create existing
chain to operate significant investment and efforts. With the help of utilising an existing
retail network, chosen business can expand with operations quickly and easily. Retailers
always hold stock with products with proper distribution costs. Customers: Furthermore, another advantage of selling through others is that dealing with
retailers which give access with additional customer base. Immediate access in a
particular group of customers who visit retail outlets to buy different type of products that
offer. Selling: Selling products with retail channel put responsibilities for selling products to
retailer. It assists to encourage retailer to sell their products and provide product training
in sales team. Furthermore, sales incentives and promotional support material create
direct control over the relationship with final customers. Marketing: Another advantage of selling through others in Marks and Spencer is that
they can boost budget of marketing with running joint campaigns. With the help of retail
channel, it can be stated that business channel continuously develops for products.
Examples of the chosen organisation
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M2 Evaluate the implementation of different types of sales structures
In order to determines successful structure, it can be said that different structures adopted
for distinguish situation. In this regard, geographic organisation structure consider low cost so
that Marks and Spencer must adopted this to apply their functions in certain geographic areas.
Furthermore, product sales force structure consider because management can guide with selling
efforts. Although, geographic organisational structure is the best perspective because it can be fit
into different areas with responsibilities.
As per the sales structure, it can be stated that the chosen organisation able to considered
successful operations which bring innovative results at workplace. There are several advantages
with implementation of present sales structure in the business such as easily planning with time.
TASK 3
P4 Key principles and techniques for successful selling and how it contributes
Marks and Spencer is one of the famous multinational retailer in UK. It is specialised to
sell clothing, home products, luxury foods, etc. They are also developed certain kinds of branded
products with more than 979 stores in UK. The company expanded their operations in
international areas from 1960. In 2009-10, the chosen enterprise restructuring their business with
large amount of sales so that closures met to support of retaining the stores. In 2017 November,
company has increase their sales with more stores opening. Therefore, it makes the oldest
presences in effective consideration. In order to make successful results, it can be stated that
selling plays an important role in to produce successful results. It contributes positive work
performance in Marks and Spencer to develop their functioning. Marks and Spencer using online
and offline both kinds of techniques to increase their sales. Therefore, it gives several advantages
to earn high amount of profits and revenue. On the basis of creative results, it can be stated that
maximum sales from people can be achieve by following key principles and techniques:
Principles
 Turning customer information into knowledge: Manager of the chosen business must
carry principle to know about customer information. It is the best perspective to know
about all customers requirements. It seems to emphasis on enterprise and people as well.
It is more important to remember about all people that are different from each other. As
results, it cannot sell same way to every person. Sales is not same so that it made with
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similar circumstances. To become a good salesperson, it is important to know that how to
sale. It also considers aim to become expert person. The Best professional is actually like
by people.
 Classification of sales leads: Another principle is to selling people by self. Along with
product or services, sales people of Marks and Spencer must carry representation of it.
Therefore, it assists to focus and maintain more significant advantages at workplace. As
results, it is beneficial to beginning with sales relationship successfully. It is more
important to include few key aspects which represent towards the enterprise (Mani,
Kesavan and Swaminathan, 2015).
 Successful pitching and positioning: Manager of the chosen business must consider
appropriate pitching and positioning to attract customers. According to this principal
speak with appropriate pitching. Successful sales professional talk that 20% of time must
take to speak and 80% time must take to listen. New sales people must focus on this
strategy that help to create active listening skills at workplace.
 Negotiation techniques and tactics: In this consideration, Marks and Spencer must
concentrate to handle objections of customers and follow appropriate ethics and
behaviour. On the basis of this perspective, principles could be followed. It is most
important standard of sales component. It is also considered as featured and benefit
connection which bears repeating. Benefits also defines as personal and specific.
Describe about products and services included with outlining (Aye, Balcilar and
Majumdar, 2015).
Techniques
 Challenging the status quo: Most of the sales process consider as linear. Therefore, at
this point it will include prospects to choose either Marks and Spencer or its competitor.
Truth is also needed to be include to take proper decision. It is important way which
make changes with adopting solution (Five Selling Techniques That Really Work – And
Five That Don’t, 2018).
 Finding value wedge: Overlap is also important consideration that develop significant
advantages to provide more prospects. In the competition, B2B salespeople admit higher
work performances. Value edge must be unique and important for customers.
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M3 Critically analysis application of successful selling principles and techniques
In respect to define successful principles, it can be stated that turning customers'
information into knowledge which is successful selling principle or technique. It considers
desired results at workplace of the Marks and Spencer. Furthermore, there are several other
strategies which help to consider different perspective in successful way. As per the pitching and
positioning, it can be stated that new sales people will be followed to attain desired work
performances.
D1 Critical evaluation based on comprehensive understanding of sales management, structure
and selling
On the basis of geographical organisational structure, customer information into
knowledge included to focus on the understanding of sales management. It assists to create
successful outcomes and results in business. Within Marks and Spencer, it helps to develop
customer base information. Beside this, consumer sales structure also helpful to attract specific
number of customers in the business. For business development, it is one of the best strategy tp
attract maximum number of people.
TASK 4
P5 Importance of developing sales strategies with increasing highest profitability and
incorporating account management
In order to consider systematic work performance, it can be stated that there are several
kinds of sales strategies implemented. In this regard, purchase decisions also made constantly
with changes. Therefore, in Marks and Spencer it is important to find perfect balance between
careful plan. Solid strategy also take place to staying consistent and closing more details.
Following are different kinds of sales strategies consider that helps to increase profitability and
incorporate with account management:
Key Sales Strategies
Demonstrate value: In the prospects of particular situation, recognise and wants to solve
the problem consider to address solution. In the selling environment, strategy and message must
be demonstrate to work and create opportunity. Before and after story must be show to create
contrast for customer experience.
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Position and differentiate: Further sales strategy is position and differentiate. In this way,
technology of the company position help to make competitive results with several benefits.
Successful sales strategy requires new approach of positioning and differentiating offering as
well.
Tell a compelling and memorable story: In this strategy, Marks and Spencer must
prepare for conversation with prospects. They focus to get accurate results in particular situation.
When customers started to share their stories, relationship could be develop successfully.
Importance of sales strategies
With respect to define sales strategies, it can be stated that profitability and productivity
could be bring with developing successful strategy. It assists to focus on functions with
management. Identify decision maker: First strategy defines that in Marks and Spencer it is essential to
know perfect decision maker which is crucial to quick close. Many times they send
different people into the firm to learn information. Apart from this, they have to go by
self and customise sales with proper information (Aye, Balcilar and Majumdar, 2015). Be real: In this aspect, it is important to focus on the real things that are taken as genuine
in sales process. In other words, it can be stated that it helps to convey message and take
care in business where they want to deal. The Best interest also develop about customers
that helps to focus on desired results. Create sense of urgency: Another sales strategy defines that deadline must be developed
that assists to create more incentives to commit. Discount and something free also helps
to make people happy and feel like upper hand. It simply means that it gives little extra
reason for development of products and services (Cummins, Peltier and Dixon, 2016). Define target market: With respect to determines target market, Marks and Spencer able
to consider critical sales success. It is the best way to go for business with each person.
Start with everyone and somewhere placed to focus and build for business development.
When market defined, it creates list in large number to make successful results.
 Deliver and build: Deliver is also one of the important consideration that assists to go for
prospects. It helps to make sure that relationship will build successfully to stay and use
for other needs. Sales process also done with desired work performance. Sales process
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consider with goodwill of the enterprise as well (Mani, Kesavan and Swaminathan,
2015).
Importance of sales strategies to the organisation
In order to determine sale strategy, it can be stated that Marks and Spencer able to
communicate their successful operations in different areas. In this regard, customer attraction
easily develop successfully to cope up with innovative tools and techniques. With geographic
sales structure, sales could be increasing successfully to develop significant advantages.
M4 Core finance principles and successful portfolio management to lead to increase profitability
and competitive edge
In order to understand core finance principle, it can be stated that corporate finance
consider as investment which develop in dividend principles. It revolves with simple concept
that Marks and Spencer need to allocate fund in most and efficient way (Huisken, 2018). There
are several ways to get competitive edge such as acquisition which gain to operate and control
restructuring.
D2 Recommendation
In order to consider recommendation, it can be stated that chosen business must perform
functions and operations with using internet tools. This is because, social media activities help to
promote more successful advantages in creative manner. As per desired work performances, they
need to maintain creativity in business unit. For business development, it is important element
that taken to attain more revenue and profits (Ingram, LaForge and Schwepker Jr, 2015).
CONCLUSION
From the above report, it can be stated that sales management is most important
consideration for Marks and Spencer. It develops more significant advantages to work and
promote desired results. With the help of key sales strategies, it can be stated that more profits
and revenue will be accomplished to maintain more significant work performance. As per
furthermore analysis, it can be articulated that there are several key principals exist which need
to be attained by chosen business to promote their functioning in a systematic manner. Moreover,
it summarise about techniques of selling that assists to attain more desired results in the business
environment.
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REFERENCES
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Ayers, J.B. and Odegaard, M.A., 2017. Retail supply chain management. CRC Press.
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Jama. 311(11). pp.1105-1106.
Cummins, S., Peltier, J.W. and Dixon, A., 2016. Omni-channel research framework in the
context of personal selling and sales management: A review and research extensions.
Journal of Research in Interactive Marketing. 10(1). pp.2-16.
Fernie, J. and Sparks, L., 2014. Logistics and retail management: emerging issues and new
challenges in the retail supply chain. Kogan page publishers.
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experiences entering the retail sector. Journal of women & aging. 27(2). pp.157-173.
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decision making. Routledge.
Kadic-Maglajlic, S., Micevski, M. and Lee, N., 2017. Customer and selling orientations of retail
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approach. Journal of Business Research. 80. pp.53-62.
Laffy, D. and Walters, D., 2016. Managing retail productivity and profitability. Springer.
Mani, V., Kesavan, S. and Swaminathan, J.M., 2015. Estimating the impact of understaffing on
sales and profitability in retail stores. Production and Operations Management. 24(2).
pp.201-218.
Nguyen, C.V., Nica, M. and Bose, U., 2015. Factors Influencing the US Retail Sales: An
Empirical Analysis. Stud. 4(3).
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Ramos, P., Santos, N. and Rebelo, R., 2015. Performance of state space and ARIMA models for
consumer retail sales forecasting. Robotics and computer-integrated manufacturing. 34.
pp.151-163.
Roggeveen, A.L., Nordfält, J. and Grewal, D., 2016. Do digital displays enhance sales? Role of
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Online
Five Selling Techniques That Really Work – And Five That Don’t, 2018. [Online] Available
through: <https://corporatevisions.com/selling-techniques/>.
Huisken, B., 2018. Principles of Sales Management, Part 1. [Online] Available through:
<https://www.jckonline.com/magazine-article/principles-of-sales-management-part-1/>.
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