Sales Management Report: Principles and Strategies for HSBC

This report provides a comprehensive analysis of sales management principles, strategies, and structures within HSBC bank. It begins by exploring the importance of sales planning and various selling methods, considering how these principles adapt to different customer buying behaviors. The report then delves into the benefits of sales structure within an organizational context, evaluating different sales structures and providing examples. It examines the significance of "selling through" others and analyzes key principles and techniques for successful selling, focusing on building and managing customer relationships. Furthermore, the report assesses sales management and selling techniques, and concludes by explaining the importance of developing sales strategies that maximize profitability, incorporating account management, and evaluating how core finance principles and portfolio management can increase profitability. The report also makes recommendations to improve sales structure and approaches to enhance financial viability.

Sales Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK1.............................................................................................................................................3
Principles of sales management in relation to the importance of sales planning and methods of
selling.....................................................................................................................................3
Discuss how principles of sales management will differ in response to buying behaviour of
customers................................................................................................................................5
TASK2.............................................................................................................................................6
Benefits of sales structure in organisational context..............................................................6
Evaluate different sales structure with specific organisational example................................8
Significance of concept of “selling through”others................................................................9
TASK3...........................................................................................................................................10
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...............................................................................................................................10
Evaluate sales management and selling techniques, structure in organisational context.....13
TASK4...........................................................................................................................................14
Explain the importance of developing sales strategies that yield highest profitability and
incorporating account management within sales structures.................................................14
Evaluate how core finance principles and successful portfolio management can lead to
increased profitability and a competitive edge.....................................................................16
Make recommendations to improve sales structure and approaches to enhance financial
viability.................................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18

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 management plays an important role in the sales planning and methods of the selling
as this department define the concept which refers to increase the selling with the help of
improving the condition of the company and to manage the requirement of the customers. In the
chosen organisation the top management of the company provide the training to the lower
department in order to increase the productivity and complete their targets. Also for the selling
concept they needed to provide the proper training related to the customer's products and
services.
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.
Sales process-
It is the set of the steps which include the process of sales to take the buyer from the
starting of the sales to the early stage of the closed sale. Mostly there are seven steps are included
in the sales process they are prospecting, preparation, approach, presenting the data, handling the
objection, closing the lead, and follow up. And these process is the never ending process which
use in the sales management team. In the HSBC the sales process is the most important aspect as
they directly deal with the customer and provide them the services which are needed by them.
 Analyze: It is the first and important step in which organization analyze its market
position. It is analyzed that manager of HSBC are required to analyze their current
market position in order to prepare appropriate strategies. There are several competitors
of organization such as CitiBank, Bank of America are present at market place.

 Set goals: At this stage, managers of respective institution are required to set goals and
objectives. Here, goal of HSBC is to increase in number of customers so that they can
earn potential profit margin.
 Develop plan: In this, appropriate plans are developed in order to attain set goals and
objectives. In this regard, managers of HSBC adopt effective marketing and promotional
strategy in order to attain set targets.
 Execute: This step is a crucial step in which company execute the plan which has been
prepared earlier in real context. At this stage management team of HSBC execute
predefined plans with the help of their employees and other members.
 Evaluate: This is the last and most crucial stage where managers evaluate actual results
with predefined targets so that they can undertake necessary corrective actions. In regards
of HSBC, they evaluate the progress of plan and strategies on regular basis with an aim to
undertake any improvements for further betterment.
Methods of selling-
Method of selling are the concept which persuade the customers to make the strong
competition in the market and make the strong competition for their competitors. Therefore the
methods of selling must be effective and ready to use by the different organisations. The methods
are define and explain 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 is also provide the export
and import the finance, foreign exchange services, transactional banking and net banking as well
as reporting facilities to customer which 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.
Strengths: This approach is helpful in formulating loyal customer base who will not switch over
other banks. Further this approach is also helps them to attract more number of clients that is
crucial to receive competitive advantage.

Limitations: There is great risk associated of disrupted relationship between clients and seller. In
addition, it might affect sales of existing product and services.
Consultative selling- In this method, the companies which use to make the long term
understanding and relationship with the customers, rather than doing selling without using the
customers prospective. HSBC provide the major focus on the appropriate solution to their client
related to their banking services. 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.
The HSBC provide the variant services to the customers in order to complete their demand and
needed activities which are using by the customer in order to increase the market image of the
company. With this, it is able to formulate positive brand image in market place (Johnson,
2020).
Strengths: In current environment, this approach is vital as it helps to build trust among
customers. Here, seller tries to provide appropriate solutions to customers for resolving their
issues in significant manner which is imperative for maintain positive brand image.
Limitation: For this, company needs to provide a lot of training to sales people which
incur huge cost. In addition, most of the sales person do not act as per the training which also
enhance overall cost of organization.
Discuss how principles of sales management will differ in response to buying behaviour of
customers
There are several principles of management that is also influences the behaviour of
clients of company (Gasanov and Veliev, 2019). It is essentials for organization to asses
consumer behaviour and make necessary modifications in present principles accordingly. For
this, HSBC carries out survey and take feedback from clients in order to make necessary
improvements. It is analysed that company needs to make some modifications in their existing
standards as per the current market condition. For instance, as per bank's strategy sales
personnels are required to be in touch with clients even after sales. Some time this practice may
frustrate customers and hamper the current brand image of banking institution. Sales
representatives are required to deal with customers in best possible way by providing appropriate

investment suggestions to them. It will help to make effective long term relationship with clients.
Thus, there are certain principles that differ from customer’s behaviour. For this, organisation
needs to make necessary alteration in their services as per received feedbacks and reviews from
clients. Further HSBC provides services to both segment B2C as well as B2B. It provides retail
banking services such as credit and debit card, account opening, net banking to individual
clients, Whole sale banking products and services are also provided by respective organization in
order to cater the needs of business clients. For this, they use effective marketing and selling
approaches & also provide personalized services to individual and business to resolve their
problems effectively. In the B2B and B2C services provided by the company in order to increase
the sales and improve the productivity of the employees of the company. They work with the
both type of customers in the market and try to make a good brand image to confront their
competitors.
Sales reporting: It refers to a detailed analysis of sales, revenue as well as profitability
that is provided to sales managers. It provides complete analytics, data that further guide
manager tpo prepare effective strategy in order to attain set goals. It is a process to track
information at each and every step and monitoring data in order to make necessary prediction. In
case of HSBC, sales managers prepare and analyze the sales report of company on timely basis
in order to take effective decisions.
Sales structure:
Territory based:
In sales, different territories and geographical areas are assigned to different sales people so
that they can attain predefined sales targets.
 Advantages: It is essential to meet with the needs of people of different regions and area
in an efficient manner.
 Disadvantages: Here, it is really difficult to maintain higher coordination among sales
person. It also creates problem in central management control.
Matrix structure:
It refers to a combination of two and more structures that will lead organization towards
higher growth and success.
 Advantage: Here, employees receive guidance from two and more managers that will
help to enhance their productivity and efficiency

 Disadvantage: It is analyzed that this structure may create higher conflicts and ambiguity
at work place that will enhance overall time of decision making process.
TASK2
Benefits of sales structure in organisational context
Sales structure refers to the way in which roles assigned to sales representatives. It
demonstrates the design of sales team within company (Rauch, 2016).It can be determine on the
basis of territory, product and customers size and other factors(Koehl, Poujol and Tanner, 2016).
For organization, it is essential to adopt appropriate structure of sales in order to manage sales
force in an appropriate way. It helps to determine the roles and responsibilities of each and every
person working in company. The Hierarchic arrangements of the various positions in the
company which are crucial to minimize the conflicts which are arises at work place (Rauch,
2016). HSBC adopts product and service structure to manage the performance of employees in
an efficient manner. There are several kind of services such as transaction banking, credit and
debit card, foreign exchange, margin trading services that are offered by bank. Thus, managers
assigned task to human resources according to that. In this bank divide the work in sales
personnel and assign them a particular product and service. Managers also provide necessary
training to them related to the area in which they are working. This is essential to clearly define
the roles and responsibilities of various people working within entity. With this way sales
representatives of respective organization are able to achieve predefine targets. It helps them to
achieve predefined objectives in stipulated period of time. This structure is crucial to improve the
expertise of work force by providing them a specific product and services (Richard And et.al.,
2017). Under this, sales personnels concentrates on features of products and deliver it to
customers effectively (Xiao, Ji and Dong, 2016). The following functions are being performed
by managers of HSBC in order to improve the efficiency of sales representatives:
Training and Development- To improve productivity of human resources, it is
significant to provide them necessary training. It enhances skills and potential of employees to
perform assigned task in an efficient manner. HR managers of HSBC arrange training and
development functions to improve in order to enhance capabilities of sales team so that they can
attain predefined targets (Wood, 2020).
Motivation-Employees are significant part of an organisation who perform various
business operations and contribute towards success of company. Motivation is crucial to keep

employees inspired to undertake business operations. For this, HR personnels of HSBC, provide
ample incentives, benefits, extra pay to sales team on exceeding assigned targets. In addition,
they also acknowledge employees efforts by rewarding them for exponential performance.
Motivated human resources tend to work effectively to achieve business goals.
Benefits of sales structure in organisation
There are ample of benefits to undertake effective sales organizational structure as it
helps to minimize internal conflicts, disputes to maintain positive environment at work place.
Some benefits of these structures in context of HSBC are discussed as under:
 It helps to maintain coordination within company by defining roles, duties of all
employees working in organisation. For this, sales manager of selected company arranges
sales meeting on timely basis so that representatives get a chance to interact with each
other. This assists managers to minimize internal disputes as well as conflicts in an
efficient manner.
 The sales structures significantly define the roles as well as responsibilities of sales
personnels to achieve business goals. Managers of HSBC define targets of each
subordinate and communicate it to them on timely basis. With this, employees get to
know their responsibilities towards business goals thus put efforts to achieve it in
predefined period of time.
 To enhance the potential of human resources, it is vital to assess their performance in
regular intervals. With sales structure managers of HSBC monitor the performance of
human resources in respect to assigned targets. It helps them to take necessary corrective
actions such as arrangements of training program for further enhancement (Xiao, Ji and
Dong, 2016). For this, higher authorities determine standards and compare it with actual
targets in order to take appropriate decisions to minimize deviations.
 The main significance of sales structures is clarification of roles as well as
responsibilities of employees in an efficient manner (Choi, Wallace and Wang, 2018).
Sales managers of HSBC clearly definer the duties of sales personnels in order to
minimize ambiguity and conflicts among employees. In addition, this practice also assists
management team to communicate with human resources in an efficient manner.
 The objective of the sales management is to create the environment which are happy
work place for the human and the environment also. The sales management and the

marketing team of the HSBC adopt the products and services which are sustainable in
nature and provide the high rate services to the clarinets. Also they trained their
employees in a way that all the employees will be interact with the customers effectively.
From the above discussion, it is monitored that product structure is being adopted by
bank to divide the work among employees. It provides several benefits to entity by clarifying
duties of human resources, minimizing conflicts, disputes. With this, company is able to enhance
the capabilities of employees to achieve set targets (Rauch, 2016). Therefore, it is essential to
adopt most suitable sales structure to provide effective services to customers for the growth and
success of organisation.
Evaluate different sales structure with specific organisational example
Different kind of sales structure in context of selected company are elaborated below:
Geographic organisation structure-Managers of HSBC divide the whole work in sales
team as per the geographical location and region. They divide the whole market in smaller
segment and assign it to sales representatives (Bhattacharjee, 2020). With this, company is able
to meet with the requirements of local audience on timely basis.
Advantages: It also help them to maintain higher goodwill among target segment. It also provide
assistance to sales manager to evaluate the performance of sales representatives within region
(Xiao, Ji and Dong, 2016).
Disadvantages: In this structure, HSBC will need to provide extensive training to employees so
that they can handle the customers of different region.
Product/service structure- Under this, managers of HSBC assign target to sales
personnels as per the product and services offered by company (Kotabe and Helsen, 2020). In
addition, company provide training to employees to improve their knowledge regarding banking
products being offered by company. It develops the competency in sales people to solve the
problems faced by customers in an efficient manner.
 Advantgages: It helps to promote products at market place in significant manner that is
essential to make optimum use of available resources.
 Disadvantages: Here, it may create problems for top managers to control different
activities in an efficient manner.

Significance of concept of “selling through”others
Selling through others is the concept to sales products and services to potential customers
through other intermediaries. It may include one or more parties to provide effective services to
end user(Park, 2020). With this, company is able to achieve predefined goals in stipulated period
of time. In addition, this practice is also crucial to enhance the presence of company at market
place (Meynerts-Stiller and Rohloff, 2019). In context of respective organisation, it takes help of
third parties to provide services to large segment of customers. HSBC is a banking institution
which carries out selling through others so that their services are approachable by individuals and
business entities. There are several brokers are associated with entity who provide services to
customers on their behalf. For this, they also charge commission from company. With a wide
network of brokers at different countries, managers are able to provide investment and financial
services to wide segment of customers. Significance of this concept in selected company is given
as under:
 It is a concept by which company take helps of other external parties to provide their
services to large segment (Al-Gunaid and et.al., 2018). HSBC is a global banking
institution which provides services across the globe thus it is vital for organisation to
associate with other parties. With this company will be able to approach wide audience
by increasing its reach globally. Sales managers of entity may take help of other
institutions as well as retailers to offer financial services such as wealth management,
investment advice to clients (Barrios and et.al., 2020).
 It will also enhance the presence of entity at global level. With this, HSBC will be able to
target domestic as well as international audience. Thus this approach will help the entity
to enhance its brand value at wide level (Bozarth and Handfield, 2016).
 This concept also helps to increase in number of customers through enhancing the
business activities of company at international level. With this approach managers of
HSBC will able to attract more number of customers towards company. Thus, the entity
can enhance its market share as well as revenue (Honeycutt, Hodge, and Attia, 2015).
 With the help of other techniques such as personal selling an single interactive customers
are used as the new strategies. And with the help of these changes sales management
team can easily change the behaviour of the customers and influence the demand.

 The main aim of a company is to earn higher profit margins to survive in market for a
longer period of time. Selling through other, approach is essential to inflate sales as well
as profit margin of entity. It enhances revenue of organisation by increasing its customer
base (Järvinen and Taiminen, 2016).
 Furthermore, this approach is also helpful to enhance the network of company at
international level. Managers of HSBC adopts this approach to increase in networking
and maintain good relationship with intermediaries. It will provide several benefits to
company in its growth and success.
 It provides valuable information to company about the needs and requirements of
domestic audience. HSBC is a global brand that provides services to international
audience thus it is important for entity to take help of other parties who are working
within country and have the knowledge regarding needs as well as requirements of local
audience. With this, company will be able to enhance its market share globally (Hase and
Busch, 2018).
Out of above discussion, it is analysed that entity is taking help of sales agents,
intermediaries in order to provide effective financial services to clients. It owns a chain of sales
representatives, agents across the globe to enhance company's presence. With this company is
able to target maximum audience without spending more amount on promotional techniques.
TASK3
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.
Selling is the process which involve exchange of money for goods (Du, Hu and Wu,
2019). As there is largest demand of product by consumers, as well as highest productivity of
product by different organisational, Those who produce smiler or different kinds of product and
services. (Danese, P. 2018) They compete to each other for the highest selling of goods, for that
company have to use some key techniques and principles for better selling, highest profit,
through special promotional and pricing techniques.
As there are the different kinds of product and services needs, so for that there are the
various types of industries related to the specific kind of goods production, and the selling
process of organisational depends on the type of business. But the principles of selling is smiler