Key Principles of Sales Management and Developing Sales Strategies

SALES MANAGEMENT

Contents
INTRODUCTION.....................................................................................................................................3
LO 1............................................................................................................................................................3
P1 Examine the key principles of sales management in relation to the importance of sales planning,
methods of selling and sale reporting......................................................................................................3
LO 2............................................................................................................................................................8
(Covered in Leaflet)................................................................................................................................8
LO 3............................................................................................................................................................8
(Covered in PPT).....................................................................................................................................8
LO 4............................................................................................................................................................8
P5 Explain the importance of developing sales strategies that yield highest profitability and
incorporating account management within sales structures.....................................................................8
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................12

INTRODUCTION
Sales Management can be defined as the process of coordinating and managing people
within an organization effectively in order to obtain desired goals (Ahmad and Saidalavi, 2018).
The goals could include increased volume of sales, constant growth and enhanced profitability.
A good sales manager organizes and allocates all the tasks among his team members to ensure
that each member has an equal opportunity. It helps in making effective decisions and managing
the salesforce of the company. Organization chosen for this report is Argos, which is a British
catalog retailer headquartered in the United Kingdom. Argos also has operations in Ireland and
United Kingdom. It sells products online as well as through offline retail stores. The company
was established in the year 1972 and is a subsidiary of Sainsbury’s. The report examines the key
principles of sales management and the importance of developing sales strategies that help in
yielding profitability.
LO 1
P1 Examine the key principles of sales management in relation to the importance of sales
planning, methods of selling and sale reporting
Sales Management can be defined as the process of planning, directing, controlling
different activities of personal selling, supervising, motivating of the sales force within a
company. Through this, a company can attain its goals, objectives and ensure that sales
representatives across different teams have a clarity about their responsibilities and thus, they
work towards attaining the sales target.
Principles of Sales Management
There are various principles of sales management that should be adopted in order to carry
out their operations effectively (Badrinarayanan, Ramachandran and Madhavaram, 2019). Some
of the main principles of sales management are explained below -
Motivating employees – Motivation is an important principle of sales management and
thus, the managers and team leaders of the respective company should encourage and motivate
the sales representatives to achieve sales targets.

Goal Oriented – Sales force within a company should always be goal oriented so that the
objectives can be achieved. The management of Argos should conduct various activities to keep
the sales representatives confident and focused towards their targets.
Manage people within the company individually – It is important to consider the needs
and expectation of employees within the company individually (Blal, Singal and Templin, 2018). By
doing so, a company can make effective decisions and also, attain organizational goals in an enhanced
manner.
Scope of sales management at Argos
Sales Management takes into account various activities including planning, assigning,
evaluating etc. The scope of this concept is explained below –
Sales Planning and Forecasting – All activities that are related to sales should be
planned well in advance by forecasting future sales (Sales Management, 2020).
Sales Budgeting – A sales budget should be prepared by the sales manager of Argos in
order to determine the cost of various activities that will be carried out in order to promote the
products and services.
Hiring Sales Force – In this, the management of Argos will have to recruit and select
qualified and experienced candidates for the different vacant positions within the company.
Key aspects of sales management at Argos
The sales manager in Argos is responsible for concentrating on three elements of sales
management which can help in enhancing overall sales of the company (Board and Skrzypacz,
2016). The key aspects of sales management at Argos are explained below –
Sales Operations – The primary focus of the sales manager within the company is on
building an efficient sales team. It should be taken into account that all the members of the team
are provided responsibilities based on their skills and interests.
Sales Analysis - Analysis is one of the most important components of sales management
and helps the members of the team to become aware of their position in terms of sales.
Different tasks of any sales person at Argos