Sales Management Report: Strategies for Marketing and Sales

This report, titled "Sales Management: Marketing and Sales in Practice," delves into crucial aspects of marketing and sales management. It emphasizes the importance of understanding target markets through segmentation, differentiating between Business-to-Business and consumer markets. The report explains how to calculate financial returns, referencing the Pareto principle for customer targeting. It also explores the significance of new products and services for competitive advantage, along with the development of effective marketing strategies and plans. The value of marketing is measured by comparing results with identified targets, using a balanced scorecard approach across financial, internal, customer, and innovation perspectives. The report underscores the need for continuous monitoring of sales data and customer feedback to refine marketing strategies and adapt to market trends, ultimately aiming to improve financial returns.

Running head: Sales Management 1
Report: Marketing and Sales in Practice
Student Name
Institution

Sales Management 2
Introduction
The majority of the business sectors are different and change after some time, clients are
as still not standing. Diverse marketing techniques must be adopted to boost their viability for the
various target group of audiences. This area will discuss that by picking the objective markets
reasonably, you can get a higher rate of return for your exercises, how new services and products
can expand it further. In this proposal of strategy, we will discuss every aspect in the details
(Pancras & Sudhir, 2007).
Addressing the requirements of the target market
A key part of the good management of marketing and sales is to have the orientation of
marketing which is to understand and guess what really your customers are hunting for. One of
the major ways to target the market is segmentation. In segmentation you segment the customers
and the market, this is the best way to know about the potential target market (Hafeez &
Aburawi, 2013).
There are two types of the market to focus on:
1. Business to Business: This consist of size (Small, Medium and Big), type of industry,
purchasing behaviour and operating capability.
2. Consumer Market: This consist of factors like geographical and demographics. The
buying behaviour of the customer and lifestyle is also a part which is important to
focus on.
Financial Return
The technique utilized while figuring Financial Return will depend on the return on
investment, this is well known to the accounts department. For this, organizational will have to

Sales Management 3
gauge sales and marketing costs that will be spent in focusing on a client or segment of clients
and then it will be calculated with the help of gross margin for the targeted group sale.
Preto concept is the law that will be applicable here and according to which 20% of your
effort will result in 80% of the success. For targeting the customer, an organization can apply this
law by using analysis of statistical data and customer performance, in which your 80% of success
will depend upon the targeted 20% of customers (Luoma & Spiller, 2002).
New products or services
By making new products and services, the organization will stay ahead in the tough
competition apart from monitoring marketing activities and trends. 10% of products made are
considered to be a brand new, rest are modified or upgraded one. A lot of costs is involved in
developing a new product rather than updating the existing one. New product led to success and
this success will depend upon marketing strategy.
Marketing Strategies and Plans
With the help of sales and retention of customers, we can only measure the effectiveness
and success of any marketing strategy and plan. This can be done by monitoring sales increase
and repeat purchase. For monitoring, the organization will need to put effort towards feedback by
questioning the customer regarding their services and products.
With the help of sales data and database of marketing techniques, an organization can
easily get a fresh insight of the latest trends and what customer wants, resulting in change or
upgradation in marketing strategy and plan.
Value of marketing
Value of marketing can be only measured by comparing the results that the organization
gets with the identified targets. To monitor success, measurement of sales is very important and

Sales Management 4
this can be done with the help of balanced scorecard. For this, four important perspectives
needed to be monitored: financial, internal, customer and innovation and learning.
Bibliography
Hafeez, K., & Aburawi, I. (2013). Planning human resource requirements to meet target
customer service levels. International Journal of Quality and Service Sciences, 5(2), 230-
252. Retrieved 11 20, 2018, from https://emeraldinsight.com/doi/10.1108/ijqss-04-2013-
0020
Luoma, G. A., & Spiller, E. A. (2002). Financial accounting return on investment and financial
leverage. Journal of Accounting Education, 20(2), 131-138. Retrieved 11 20, 2018, from
https://sciencedirect.com/science/article/pii/s0748575102000052
Pancras, J., & Sudhir, K. (2007). Optimal marketing strategies for a customer data intermediary.
Journal of Marketing Research, 44(4), 560-578. Retrieved 11 20, 2018, from
http://journals.ama.org/doi/abs/10.1509/jmkr.44.4.560