Comprehensive Report: Pfizer Sales Strategy, Performance, and Analysis

This report provides a comprehensive analysis of Pfizer's sales strategy, organizational structure, and sales performance. It begins by defining and analyzing Pfizer's sales strategy, including various approaches like entering new target markets and introducing new products. The report then delves into the company's organizational structure and sales force, examining how they meet market needs. A key aspect of the report is the evaluation of Pfizer's sales performance, supported by statistical data. Furthermore, it explores key sales principles and selling techniques, including the importance of listening, building relationships, and understanding the market. The report also touches upon key account management and the collaboration between sales and finance. An evaluation of the current sales cycle is presented, culminating in recommendations for improving overall performance. The report aims to provide insights into the core elements of Pfizer's sales operations and offers suggestions for enhancement.

Sales

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
1 Define and analyse Pfizer's sales strategy................................................................................1
2 organisation structure and sales force to meet various needs of the market............................2
3 Evaluate Pfizer sales performance through showing statistical data.......................................3
4 key principle and selling techniques........................................................................................4
5 key account management ........................................................................................................2
6 analyse how sales and finance principle work in collaborations.............................................2
7 evaluate the current sales cycle of pfizer.................................................................................2
8 recommendation on improvement of entire performance. ......................................................3
CONCLUSION................................................................................................................................3
REFERENCES ...............................................................................................................................4

INTRODUCTION
Sales is all about exchange of the commodity for having money. It is an activity which is
related to the selling or sum of the product and services sold in the prescribe time duration.
Basically a sales is a major transaction in between two parties where the consumer will get goods
either it is tangible and intangible, services and assets in the exchange for the finance (Andzulis,
Panagopoulos and Rapp, 2012). It can also depicts to an agreement in between consumer and
sellers on the cost of security. The functions of sales is refers as the contract in between the seller
and buyers of the certain services and goods. The report is based on Pfizer Inc. company which
is an American pharmaceutical firm and their headquarter is located with Groton, Connecticut. It
is the largest organisation and also develop and produce wider range of medicines and vaccines.
The report shows sales strategy and their organisational structure along with sales performance.
It also evaluate selling methods that are utilised by the firm.
TASK
1 Define and analyse Pfizer's sales strategy.
A sales strategy is a plan by a venture or individuals that depicts how they will going to
sell their product and services along with improving profits. All kind of sale strategies are
generally developed by the a firm's administration with the help of it's sales, advertising and
marketing managers. A sales strategy contains a plan which helps in positions a firm's brand or
goods to attain a competitive advantage. Effective strategies provide helps to the sales employees
concentrated on the target market buyers and communicate with all in meaningful manner. Some
of the sale strategies are detailed as-
there are three level of strategy that is corporate level, business unit level and market
level strategy. There are endless numbers of certain sale strategies that firms can design and
utilise to take business forward, some of them are explained as:
Entering new target market- the sited sales strategy is about determining new target
customers and devising methods framed to reach up, engage and transmit those elements. Sales
department is always look after for the new market through which they can launched their
product there and enjoy higher numbers of new customers (Eid and Gohary, 2013).
Introducing new product or services- in this sort of sales strategy, firm are wishing to
boost up sales through improving their goods portfolio that either boot up the sales to the existing
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buyers base with the help of cross selling and up selling or increase sales to a higher customers
base through capturing new and unique offer with different solutions(goods or services that are
not yet offered)
Increasing up sell and cross-sells- in this sales strategies, all the strategy are ties up into
the grounds of new product or services, cross selling and up selling is also be utilise as a stand
along planning with the existing product and services, with the purpose of improving the value of
each buyer through providing higher value in the bundled goods (Feiler and Gluch, 2012).
Increasing conversions and sale among present prospectus- if firm's objective is to
maintain the present concentrated market and company don't plan to launching the new services
and product, hence firm's strategies may be to improve the sales in their existing market. A
different variety of the tactics can be utilise to bring out the strategies of the fruitions, such as
taking customers experience, adding values with the help of information and eduction or
competitive advantage.
boosting repeat business- it is majorly known that there's a higher ROI as retaining
existing customers than having new buyers. Firms with a repeat venture modal can improve sales
and profits according with sales strategies wished at boosting the repeat purchases form the
present buyers base. Such kind of strategies may involves efforts in order to reduce customers
move (Floyd and et. al., 2014).
2 organisation structure and sales force to meet various needs of the market.
A organisation structure is defines how practises such as coordination and supervision
task allocations are directed for the achievement of the firm's aim. Hence firm required to be
efficient, innovative, flexible and caring in respect to attain a effective competitive advantage. It
is also consider as the viewing into the glass with the help individuals can see their firm and its
environment. There are different kind of organisational structure they are enlisted such as-
Flat organisational structure- majorly small firms are using this kind of structure where
they are having few levels of the management different executive for analysts and lower level of
workforce. This type of structure is best suitable for those firm who are having less then 20
employees. In the sited structure, decision can be taken on quick basis (Grönroos, 2011).
Line structure- In the line firm, they have only direct vertical relation in between
various level in an organisation. There in only a line division that directly included in attaining
the primary objective of the firm. These kind of firms are able to simplify and clarify the
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authority, duties and accountability also helps in quick decision making and also easy to
understand.
Divisional structure- this kind of structure is utilise in the larger companies like sited
firm. That functions in a wider geographic locations which have different smaller firms with in
an umbrella group in order to cover various kinds of goods and market locations. This types of
organisational structure is followed by the Pfizer firm cause they are global company and deals
in medicines and vaccinations. It comes with higher benefits that requirement can be matched
more specifically and rapidly, each of department functions more independently for other
departments in the firm. Generally, divisional structure is costly cause its scope and size. Larger
business is having different offices in various parts of the locations for example they asses
various sales teams in order to handle various geographical locations.
Sales-force is about a team who arise and analyse the requirement or needs and meet up
to customers satisfactions through suitable strategies. These are group that exist with in the firm
that conduct sales. They are working for the matching the requirements of customers so that firm
will have effective profit and having effective profit (Linoff and Berry, 2011).
Leadership generally provide their assistance to their consumer executive hence through
leadership trait executive will be able to match with the requirement and provide effective
benefits to the firm. Through leadership trait firm can have effective age and growth in the target
market.
3 Evaluate Pfizer sales performance through showing statistical data.
Actual Sales Forecasted sales
Particulars 2013 2014 2015 2016 2017 2018 2019
Revenue
51,584.00 49,605.00 48,851.0
0
52,824.00 52,546.00 52782.4726
571176
53020.00951
16539
% of change
-
3.836460
9181
-
1.520008
0637
8.132893
9019
-
0.5262759
352
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4 key principle and selling techniques.
Sales principles are ethical thing that utilise at time of selling product and service. There
are some of the major principles for the selling hence they all are detailed such as-
Selling is 60 percent listing and 40 percent talking- when selling personal is having
conversation with their buyers their main objective is always to find out how they can be able to
help them out, this is only happened when their mouth is opened.
A sales massage contains of two sentences- the first one is about why their customer hire
them and second is why they wises to do something better then anyone else. If they can't get their
sales message down to these two short phase and not bother them.
Customers cares for their venture, not about them- each and every sales conversation
is begin and take place for the buyer's perspectives rather then sales persons. It is about the
product is not great but sales personal can help to them (Manning, Reece and Ahearne, 2011).
Sales reputation is always proceeds them- now it is hyper connected world. Sales
personal can assume that person can purchase anything form then then it is flaws. Hence then
sales personal needs to capture the needs and provide products according to it.
Selling is about relationship building- it is true that buyers can purchase sales persons
product if they are trusting them, respect them and like them, the major example for it is B2B
selling process where sales person meet up with the buyers and make interaction with them. This
will helps in make them loyal and trustworthy.
Always sell to people- it is obvious that a sales personal cannot sell their product to an
organisation but to real person or actual one. It is important to acknowledged that all the person
are different hence sales men cannot provide same manner to every one. Hence no sales are
same, even they are framed by the similar firm under same conditions. In order to be a effective
sale person then it is not just to sell the things they must wished to be the the expert in their
genre.
They have to sell themselves- sales personnel are needs to remember that they are not
only just sells and representing a service and product. But they needs to provide affects to the
selling skills. They also develops tier empathy levels (Onishi and Manchanda, 2012).
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They required to ask questions- a good sales person is talented for the asking frequent
question. They know how to develop questioning methods and always knows traditional methods
of asking questioning.
listen to understanding- they needs to listen up all the things cause if they are not listing
all the things then how they can be able to know the requirement of the customers then only they
will be able to provide effective product to their buyers (Rodriguez, Peterson and Krishnan,
2012).
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Selling techniques:
 Understand your market- It is necessary for every organisation salesperson is to analyse
and understand their whole market place in proper manner. They are knowing their name,
title, firm name, websites and email id and also understand what make them marketing
effective (Sales, 2013).
 Cold calling- It is that process which makes contact with their customers which have
spoken to the previous. Door to door sales person engage with cold calling for long time
so they attempt for talking with people who does not ask for selling call. It is effective
sales techniques and method which help making strong relation with their customers.
 Actionable question- This sales technique is used for keeping customers for involved in
the sales presentation in proper manner. Sales professional need to potential some
questions which require certain sorts of activities on specific parts.
 Treat customer as hero- This is very important for an organisation is to make them
customer happy and satisfied. The customer require to save their day for purchasing
effective products and services by using sales techniques and methods. Customers are the
main asset of every company because they are buying their goods at some cost and firm
gain maximum profit.
 Concentrate on data- An organisation can help in earning income and revenue for using
effective sales techniques. Data analysis can help in generating income and revenue for
gaining maximum profitability and productivity in better manner. It assist in measuring
and evaluating sales volume of the company. This techniques will help in making
appropriate decisions which gain results and maximise profit.
 Build trust among customers- It is necessary for firm is to develop and make trust among
buyers regarding desired products and services in effective manner. Sales person
convince buyers for purchasing their innovative and unique goods at reasonable price.
With the help of this technique, this will help in making strong relationship with their
customers and resolve all issues or problems (Sheth, 2011).

5 key account management
The key account management is a strategy business approach with the aim of ensuring
the long term and efficient business development with the help of beneficial partnership with
strategical important buyers. The sited management is not about a different business procedure.
It is an integrative factors of the venture strategy. These managers are hidden heroes of everyday
B2B interaction. They are not getting credit of sales team having for landing new account, but
they have responsibility for maintaining the relationship which is important to the on going
success of a venture. Some tips for successfully key account management:
building relationship that acknowledge the whole- at time to farming relationship with
customers as a key account manager they needs to have use of holistic approach working to
knowing the manners in that certain relations, functions and venture required to work together in
order to define the relation as whole.
Be proactive- rather waiting for customers to determine the issues or ask about the
particular product or service be an proactive. Hence continuous checking with the key account
manager in order to satisfied their customers with your services and products (Terho and et. al.,
2012.).
6 analyse how sales and finance principle work in collaborations.
When both of the elements of marketing and financing are working together then they are
powerful to meet up the sale target cause when they are performing together their manager
knows the conditions of their pre determine objective and find out the path way through which
they can be attain their goals.
Sales margin- it is about taking the effective margin in the sale target. When product is
having efficient promotions and advertisement then firm will be able to capture higher numbers
of customer that provide assistance in order to achieve the target which are pre determine.
Cost of sale- it helps in reducing the sales costing cause through effective costing firm
will be able to use minimise the costing of sale (Sheth, 2011).
7 evaluate the current sales cycle of pfizer.
The sales cycle is the procedure that firms are undergoing at time of selling the product to
the buyers. It contained all the activities that are connected with the closing sales. Many firms
having various steps and practises in their sales cycle, relays on how they outlined it.
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Keeping the things on their track, sales cycle provide a business insight into the sufficient
of their sales functions.
8 recommendation on improvement of entire performance.
Pfizer needs to look after on their sales strategy that some times tend to be weaker then
others. They should provide suitable training and developing program to their sales personal so
that they becomes more capable to sale their product and services. Efficient training is useful for
their personnel growth and individual ages it also helps in booting up their entire performance in
the organisation and enjoys effective profit in comparison to other firms.
CONCLUSION
As per the above report it has been concluded that fro a business organisation it is require
that they improve their sales activities to increase their profit and production cost easily. Through
a effective sales process, organisation can easily build positive relation with their customers and
in market. This process is basically using to passing product and services to one person to
another but these transaction are based on money related terms that help to increase profit and
revenue of a firm. In this process organisation organisation is going through different activities
as manufacturing, packaging, delivering and sales according to customers demand and need.
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REFERENCES
Books and Journals
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implications for the sales process. Journal of Personal Selling & Sales Management.
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marketing success. The Service Industries Journal. 33(1). pp.31-50.
Feiler, P. H. and Gluch, D. P., 2012. Model-based engineering with AADL: an introduction to
the SAE architecture analysis & design language. Addison-Wesley.
Floyd, K. and et. al., 2014. How online product reviews affect retail sales: A meta-analysis.
Journal of Retailing. 90(2). pp.217-232.
Grönroos, C., 2011. A service perspective on business relationships: The value creation,
interaction and marketing interface. Industrial marketing management. 40(2). pp.240-
247.
Linoff, G. S. and Berry, M. J., 2011. Data mining techniques: for marketing, sales, and customer
relationship management. John Wiley & Sons.
Manning, G. L., Reece, B. L. and Ahearne, M., 2011. Selling today. Pearson Education.
Onishi, H. and Manchanda, P., 2012. Marketing activity, blogging and sales. International
Journal of Research in Marketing. 29(3). pp.221-234.
Rodriguez, M., Peterson, R. M. and Krishnan, V., 2012. Social media’s influence on business-to-
business sales performance. Journal of Personal Selling & Sales Management. 32(3).
pp.365-378.
Sales, B.D. ed., 2013. The trial process (Vol. 2). Springer Science & Business Media.
Sheth, J. N., 2011. Impact of emerging markets on marketing: Rethinking existing perspectives
and practices. Journal of Marketing. 75(4). pp.166-182.
Terho, H. and et. al., 2012. ‘It's almost like taking the sales out of selling’—towards a
conceptualization of value-based selling in business markets. Industrial Marketing
Management. 41(1). pp.174-185.
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