Sales Management Report: Principles and Financial Aspects at Argos

This report provides a comprehensive analysis of sales management principles and practices, with a specific focus on the retail company Argos. The report begins with an introduction to sales management, defining its core concepts and importance in achieving business objectives. It then delves into Task 1, which demonstrates an understanding of sales management principles, including managing individuals, leading by example, and maintaining a goal-oriented approach. The report examines the scope of sales management at Argos, outlining key aspects such as sales forecasting, budgeting, and reporting. It also highlights the roles of sales personnel and the stages of consumer buying behavior, along with examples of technologies and sales promotions used by Argos. Task 4 demonstrates an understanding of the finance of selling, discussing concepts like sales cycles and their management within the context of Argos's operations. The report concludes by emphasizing the significance of effective sales management in driving profitability and market share, with references to relevant academic sources.

Sales
Management

Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
Demonstrate an understanding of the principles of sales management.................................................3
TASK 2........................................................................................................................................................10
Covered in leaflet..................................................................................................................................10
TASK 3........................................................................................................................................................10
Covered in PPT.......................................................................................................................................10
TASK 4........................................................................................................................................................10
Demonstrate an understanding of the finance of selling......................................................................10
CONCLUSION.............................................................................................................................................12
REFRENCES................................................................................................................................................14

INTRODUCTION
Sales Management is determined as discipline related to business which mainly focuses
on the implementation of different types of sales management practices and techniques for sales
operations of company(Agnihotriand et. al., 2016). This practice is considered as important
practice as that helps a company in gaining high profit along with market shares. Sales
management consist of different practices or activities such as creation of sales force,
implementation of new and innovative sales idea or technique as well as coordinating sales
operation activities. By conducting effective sales management activities an organization able to
achieve its desire sales target as well as it will also help them in enhancing their profit ratio
impressively. There are several aspects are include in sales management such as pervasive
function, continuous procedure, goal orientation and so on. Through implementation of sales
management an organization several advantages such as conduct effective planning, enhances
sales and many more but there are some limitations of it which related to discounting scheme as
well as sales direction.
Organization taken for this assignment is Argos that is limited company operating their
business operations and functions in retail industry. This firm is founded in 13th November 1972
by Richard Tompkins as well as it’s headquarter is established at Milton Keynes, England,
United Kingdom(Chen, Pengand Hung, 2015). They are nested their business operations in
United Kingdom and Republic of Ireland. Sainsbury is parent company of respective retail store
and they offer huge range of customers goods based on customer’s need, required, preferences
and expectation. Topics explained in this report are related to understanding of several principles
of sales management, importance of sales management and relative merits by which sales
structure can be organized or manage. Moreover it will also include description of application of
sales management principle for successful sales as well as it will also explain financial terms
related to selling.
TASK 1
Demonstrate an understanding of the principles of sales management
Definitions of Sales management

Sales Management is determined as a process that consist of various activities such as
conducting sales operations coordination, create effective sales forces, implantation of new sales
technique or idea and many more (Sales Management Definition, Process, Strategies and
Resources, 2020). By adopting these techniques an organization can conduct its all business
activities in effective manner which lead to achievement of sales target.
Principles of Sales management
There are numbers of sales management principle which are necessary to adopt
companies for performing effective business operation. From which some are describe below in
respect of Argos:-
 Manage people individually: In respect of this aspect company need to attain their every
staff separately as by it they can understand their requirement, need and expectation
properly. That will help management in decision making procedure. (Principles of Sales
Management, Part 1, 2019).
 Lead through examples: It is human nature that they motivated and attract through
positive environment. So it is essential for respective company manager to provide
positive example to staffs so they feel motivated at workplace.
 Follow golden rules of sales management:For respective company it is essential to treat
their employees properly because staff stays at that place where there is any growth, this
is considered as golden rules of sales management(Cravens, Le Meunier-FitzHughand
Piercy, 2012).
 Always be goal oriented:For Argos management it is essential to conduct their activities
which lead to attainment of goal as that will increase effectiveness of work at store.
Scope of sales management at Argos
At Argos there are several scope of sales management practices that can implement at
their workplace, from that few main are mentioned below in respect of respective store:-
 Sales forecasting and planning: According to this by using sales management Argos
management can estimate future sales that help them planning activities and maintaining
stock at store.

 Sales Budgeting:In respective of this, it will also help respective company in creating
proper budget by evaluating expenses of conducting different sales practices (Sales
Management, 2020).
 Selling and reporting: By this Argos management can develop appropriate report of
selling at store which further helps in decision making process.
Key aspects of sales management at Argos
During conducting business operation and functions Argos go through major two aspects
related to sales management, which are mentioned and explained below:-
 Deciding sales territory: In respect of this aspect there is sales quota at respective store
for sales executive that help in evaluating boundary for their job profile at store. It will
also aid in avoiding conflict among the staffs (What are the key aspects of sales
management?, 2016).
 Determine size of sales force: According to this aspect sale is depend upon the size of
market. Through this respective company sales executive able to estimate sales properly
according to market size which help them in maintaining stocks at store.
The different tasks of any sales person at Argos to accommodate all types of customers
In Argos there are different types of customer and in order to deal them sales person need
to perform several task, from which some are mentioned below in respect of respective
company:-
 Sales person at respective company ensure that its customers will get satisfied and happy
by their superior quality sales services(Cummins, Peltierand Dixon, 2016).
 Sales person also drive sales practices by knowledge of products and facilities as well as
by enthusiasm for attaining sales target.
 Sales person of respective company store conduct maintenance of stock condition by
software as well as them also assign work to store staffs.
 Sales person or head of Argos store ensure satisfaction level of customers by conducting
work in team.
Highlighting the different roles involved members of the sales department at Argos

At Argos sales department members performed numbers of different roles which help
company in attaining goal, from which some are mentioned below:-
 Stock and Merchandise sales floor:It is main role of sale department to conduct
coordination with stock clerk for maintaining appropriate record of stocks and
merchandise.
 Process and receive shipment: At Argos sales department employees help in shipment
process by using scanning guns as well as inventory software(Dixonand Tanner Jr, 2012).
 Conduct store opening and closing task: This role is generally considered as small task
but it is duty of sales department to one and close store at time in Argos.
A brief demonstration of the stages of the Consumer Buying Behaviour Process
For Argos it is essential to adopt customer buying behavior process because through it
they able to understand customers and their requirement properly, it is consisting of six stages,
which are explained below:-

 Problem recognition:In respective stage customer will evaluate their need in order to
determine issues for which they want particular product. Information search:According to this stage customer will collect information which
helps in conducting purchase decision. Evaluation of Alternative:In this phase customers evaluate alternative for specific
products in order to buy best one(Erevellesand Fukawa, 2013). Purchase decision:After exploring numbers of operation customers will determine best
product on the basis of price, quality, nature and equality as well as take decision of
purchase. Purchase:At this stage customers will purchase products according to required and
preference.
 Post purchase evaluation:In this phase customer will evaluate whether they satisfied
with products or not(Ingramand et. al., 2015).
Some exampled and benefits of technologies
Illustration 1: The Six Stages of the Consumer Buying Process and How to
Market to Them
(Source: The Six Stages of the Consumer Buying Process and How to
Market to Them, 2020)

A company adopt numbers of technology in order to promoted as well as advertise their
goods, services and products at the potential marketplace for attracting customers. Some of
them which can be adopted by Argos are given below:-
 Social Media:Now a day it is mostly used technology for conducting promotion and
advertisement and it also help in attracting huge audiences. For example by adopting
different social media medium respective company may attract huge customer’s ratio
such as facebook, instagram and so on(Johnstonand Marshall, 2016). This will also help
them in attracting audiences from nation and international boundaries.
 Skype:This is mainly used by an organization for conducting face to face conferences as
well as meeting with individual who are at different locations. For example Argos can
adopt this in order to promote their products to big clients who are at different location or
nation. This also helps in interacting employees of all locations.
 Argos App.:In today’s time every firm have its own application that help them in
interacting customers properly. For example by application Argos able to promote
products effective as well as them also develop effective customers relation.
Two real examples of sales promotions or sales incentives on the Argos website
There are numbers of sales promotions activities which are offered by Argos in order to
attract huge numbers of customers towards its products and services as well as through it they
also want to retain them for life time(Ketter and et. al., 2012). These types of practices also help
them in boosting their profit ratio as well as market shares at potential marketplace. Below some
of the main promotion practice of Argos on its website are given:-

This image shows that Argos provides its products through different offers in order to
increase sales by attracting customers at huge ratio.
Through above image it can be determine that Argos also provides discount for the section
occasion or days as its practices of sales promotion for attracting more audiences and enhance
sales.
Illustration 1: Argos sales promotion
(Source: Argos, 2020)
Illustration 1: Argos sales promotion
(Source: Argos, 2020)

TASK 2
Covered in leaflet
TASK 3
Covered in PPT
TASK 4
Demonstrate an understanding of the finance of selling
To run business organizations successfully in competitive market environment it is necessary for
each business entity to have appropriate knowledge regarding finance of selling. It is a concept arises due
to provide benefits of small vendors (Kuruzovich, 2013). Finance of selling the concept is related with
relinquish some assets ownership to get financial or monetary benefits. Business organizations faces
many issues regarding selling of essential financial services. Most common problems related to this
concept are to prepare policies which help in effective communication and conversation with their
customers, lead the conversation and built strong position between their rivalry firms. Manager’s uses
formulate various sales and marketing strategies in order to enhance their financial sales. Retailers sales
their products at discount and made those strategies which help in attract their potential customers. Argos
uses different strategies in increasing their sales volume of Fast track, Argos cars, Gift card. The company
also uses sales management process s in order to enhance their sale quantity in following way:
 Sales cycle: It defines as systematic process of selling products to customers. In other
words it denotes as actions taken by business organization to sell their products to their
potential customers. Sales cycle help in identify ways through which companies will
enhance their profitability rate. It will help in identifying customers demand. Argo uses
sales cycle concept for formulating policies by which they can increase their sale and retain
their customers. Sales cycle also help in selling finance process as with the use of this cycle
mangers identify opportunities, they can easily recognizes assets which generate more
benefit then others.
 Management of sales cycle: Fir the purpose of financial selling business organization
need to manage their process of selling gods and service to their customers. Management
of sales cycle is a process of tracking each and every stage of sale cycle in this process
mangers supervise every action taken by organization to sell their products(Matsuo,
Hayakawaand Takashima, 2013). It will help in identifying problems regarding selling
and it also useful in performance evolution process. Manager of Argos company se tools of

managing sales cycle for making their selling finance more effective and attractive, which
helps in generating more financial gain. Managers of Argos firstly identify their potential
buyers and then formulate policies which help in making effective conversation with them
and retained their target market customers.
 Performance evolution: For effective sales management business organization use
performance management techniques. It will help in managing their sales ratio. Manager of
Argos uses overall performance evolution process in order to maintain and increase their
sales volume. They will use different kind of methods to for supervise each step of sales
cycle. Advantage of performance management is that mangers will easily identify activates
which increases high cost, it will also he3lp in cut throat of wastage activates from sales
process(Powers, Jenningsand DeCarlo, 2014). To maximize their profitability rate of
the organization and achieve competitive advantage among rivalry mangers need to fulfill
these two aspects which are mention below:
1. Portfolio management: Group of securities is known as portfolio, in other words portfolio
is bucket of securities invested by individual for their future benefits. Portfolio
management is a process of managing securities in a way which help in increasing return
rate consideration minimizing rate of risk in investing securities. It is essential concept
regarding financial selling as in financial selling securities are traded for receiving money
consideration. In portfolio management, mangers of business organizations after analyzing
the external environment prepared strategies for investment through which help in
generating more gain. Manager of Argo uses portfolio management in order to maintain
and secured their financial growth rate. It will also help them to find opportunities and
making policies related to marginal sales it also help in formulating policies of which
determine prices of different products and managing lead of their potential customers.
Portfolio management also helps in minimizing cost of distribution of sales products to
customers.
2. Mechanism of Payment: It is the process of allocation of risk and profits, to contractors
for the purpose of delivering various financial services to business organizations potential
clients). The profits and incentives are paid to contractors under a public private contract.
According to this concept if anyone is unable to maintain standard described before the
contract is made, then business organizations will be incurred financial deduction
according to the level of service parameters describe as per the law and regulations related
to this contract. To fulfill all the criteria of payment mechanism managers of Argos limited

formulates policies related to payments in which they considered all the risk factors of their
business organization. To maintain the sustainability level of their running organization,
management department of this company identify risk as well as opportunity factor and
then they formulates policies in which they considered risk as well as incentive in contract.
Recommendation and suggestions to enhance sales and financial viability of the organization:
 In order to improve volume of sales of this organization, manager needs to formulate
effective customer relationship management policy which help in retention of their
potential customers and help in identify preference, demand of their target market
customers(Syamand Sharma, 2018).
 They need to use those strategies which help in finding all the potential suppliers which
provides them raw material at discount. They also made contract which help in identify all
necessary information regarding their suppliers and distributors. It will help in reducing the
risk of nonperforming assets in company.
 Manager of Argos needs to use software’s like SAP and CRM this software help this
organization to overcome the burden employer’s faces during the peak period. Workforce
of this organization suffers from high stress of workload thus their efficiency is decrease
and they did not gave their efforts in enhancing companies sales volume, using theses
software help in reducing burden of work . This software also helps in minimizing risk or
errors and work with full of efficiencies(Rodriguez, Dixonand Peltier, 2014).
 To increasing the financial viability manager of Argos decided to enhancing their sales
volume by increasing their range of customers, for this purpose they implement those
polices by which they increase their target market area by attracting and influencing more
customers to buy their product.
 To increase profits manger of this company increase prices of their high quality of product,
provided attractive offers to their potential customers and invest in promotion strategies in
order to attract their customers.
CONCLUSION
By conducting analysis of above discussed point it can be summarise that for every
company it is essential to conduct proper sales management activities because through it they
able to attain their goal as well as objective successfully. While adopting sales management at
the workplace companies need to conduct several analyses because that will directly help them in
develop proper decisions which lead to enhancement in sales, customer’s base, market shares as

well as profitability ratio. This will also help a firm in improving their competitive image at the
potential marketplace as well as through it they can determine ways for improving modes of
distribution in order to minimise costs which leads to increase in profit ratio. In respect of
commercial as well as business unit or enterprise, sales management is determined as most
essential aspect as without that succession and growth can’t be attain. There are several ways
which help a firm in developing effective decision such as understanding customer’s buying,
determining principle of sales management, understanding importance of customer’s relationship
and many more. Along with this, by adopting appropriate practices related to sales management
an organization can reach to their potential audiences or customers which help them in becoming
market leader. Moreover that will also lead to several other advantages such as improve
production, better financial decision, customer’s retention, optimise distribution and many
others.

REFRENCES
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