Sales Management: Principles, Structure, and Techniques

Sales Management
Table of Contents
INTRODUCTION...........................................................................................................................4
TASK1.............................................................................................................................................5

Principles of sales management in relation to the importance of sales planning and methods of
selling..........................................................................................................................................5
Discuss how principles of sales management will differ in response to buying behaviour of
customers.....................................................................................................................................6
TASK2.............................................................................................................................................7
Benefits of sales structure in organisational context...................................................................7
Evaluate different sales structure with specific organisational example.....................................9
Significance of concept of “selling through”others....................................................................9
TASK3...........................................................................................................................................11
Analyse the key principles and techniques for successful selling and how they contribute to
building and managing customer relationships in application to specific organisational
examples....................................................................................................................................11
Critically analyse the application of successful selling principles and techniques in
application to specific organisational examples........................................................................13
Evaluate sales management and selling techniques, structure in organisational context..........13
TASK4...........................................................................................................................................13
Explain the importance of developing sales strategies that yield highest profitability and
incorporating account management within sales structures......................................................13
Evaluate how core finance principles and successful portfolio management can lead to
increased profitability and a competitive edge..........................................................................14
Make recommendations to improve sales structure and approaches to enhance financial
viability.....................................................................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION
Sales management is a process that is to develop sales strategies and implement those
strategies in an efficient manner in order to achieve predefined objectives. The main aim of this
function is to increase in revenue of company through increasing its sales (Dechawatanapaisal,
2018). It is a crucial business function that helps to driven revenue for whole organization to

undertake various other activities. In the current report HSBC is taken into consideration that is
an international bank situated in London. It offers wide range of banking services such as retail,
investment and private banking to cater the needs of huge segment. The report discuss
importance of sales management and its principles within company. In addition, sales structure
of company is also discussed in the report. Further, it comprises the concept of “selling by
others” sales techniques and its importance in organisational context. Moreover, the report
renders an overall prospective about sales management within company.
TASK1
Principles of sales management in relation to the importance of sales planning and methods of
selling
Sales concept refers to the aggressive selling without giving more considerations toneeds
and requirements of customers. In context of HSBC, higher authorities of provide proper training
to sales representatives so that they will be able to achieve their targets. They motivate sales
personnel’s to sale out their banking products and services to clients in large number.
To earn potential profit, it is crucial to increase in sales of company. Effective sales
management helps to increase in revenue and presence of organisation in market. There are
ample of principles such as managing team, lead by example and many more that need to be
follow by managers in order to achieve predefined sales targets. In context of HSBC, it uses
these principles are discussed as under:
Manage sales force- It is crucial to pay individual attention to each member of sales
team. With this, managers get to know the problems faced by employees to achieve assigned
targets. Management team of HSBC asses the growth of every human resource and them provide
them training accordingly. It helps them to maintain a stress free environment at work place.
Lead by examples- To motivate human resources, it is vital to set an ideal before them so
that they act accordingly. For this, managers need to be discipline and share the sales record with
employees so that they also get inspired to attain assigned targets. Mangers of HSBC, conduct
meetings of sales team on timely basis in order to aware them with current performance of peers
and whole team (Dixon, LeBon and Wieseke, 2019).
Sales management is an essential function that is undertake to attract more number of
buyers towards the products and services of company. It helps to generate revenue to perform

several business operations in an appropriate manner. In context of HSBC, the significance of
sales management is discussed below:
Handle the sales force- Sales management is wide term that comprises ample of
techniques to manage sales force within organization. It is essential to keep proper control over
their performance in order to achieve predefined targets. HSBC defines standard to monitor the
performance of sales people and provide them necessary feedbacks for further improvements.
Increase in revenue- The main purpose of sales management is to adopt effective
strategies in order to attract more number of customers (Gasanov and Veliev, 2019). With this
company is able to get higher revenue thus minimize overall cost of production. Managers of
HSBC adopt ample of techniques to inflate sales and profit margin of bank. They advertise their
services among customers so that they get attracted towards the services of banking institution.
Methods of selling-
Selling is an activity to aware as well as persuade customers to receive an edge over other
competitors. There are several ways that can be adopted by an organisation in order to sales its
products or services to potential buyers. In context of HSBC, widely used methods of selling are
elaborated below:
Cross-Selling-It is a crucial method under which companies sale some additional
products along with main product to its customers. It is generally used in financial institution
such as banks, investment firms and many more. HSBC executes cross selling by providing
additional services such as investment advice and more.In addition, it also gives export and
import finance, foreign exchange services, transactional banking and net banking as well as
reporting facilities to customer this is providing competitive edge to entity. Further in Canada
people get It helps them to attract more number of clients that is crucial to receive competitive
advantage.
Consultative selling- Under this, companies emphasis to make long term relationship
with customers rather doing aggressive selling. HSBC focuses to provide appropriate solution to
clients with the help of competent sales representatives.They take the queries of customers and
provide them effective solutions in order to make long term relationship with them. For this,
entity has separate team of investment advisories who provide appropriate suggestions to client
to use their money wisely. With this, it is able to formulate positive brand image in market place
(Johnson, 2020).