Sales Management Report: Principles, Practices, and Strategies

This report provides an overview of sales management, covering key aspects such as sales responsibilities, preparation, and personal selling skills. It explores the importance of sales management in driving business growth and profitability. The report delves into the responsibilities of a sales manager, including both primary and secondary functions, and outlines the steps involved in sales preparation, including product knowledge, competitor analysis, and sales objective setting. It also examines the principles of effective selling, such as building relationships, understanding customer needs, and applying financial principles for increased productivity. The report concludes by highlighting the significance of sales management strategies in achieving desired results and includes references to relevant literature. This report is available on Desklib, a platform offering AI-based study tools and past assignments for students.

Sales Management

Content covered
 Introduction
 Sales responsibilities and preparation
 Personal selling skill
 References

Introduction
Sales management is the process of application of sales techniques
and managing sales operation of company. It is an important
function of every business which helps company to increase the
profitability.

Sales responsibilities and preparation
Sales responsibilities include all
roles and functions which are
required to be performed by the
sales manager of company.
These responsibilities of sales
manager are divided into two
parts called primary and
secondary.

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 Prospecting
 Database and knowledge management
 Self-management
 Handling complaints
 Providing service
 Relationship management

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 Sources of prospects
 Existing customers
 Trade directories
 Enquires
 Press and internet

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 Preparation
 Preparation for pure selling and sales negotiations
 Product knowledge and benefits
 Knowledge of competitors and their products
 Sales presentation planning
 Setting sales objective
 Understand buyer behaviour

Personal selling skill
This includes the convincing power
and skills possess by salesperson
which helps the company to
increase sales of their products
and services. They have the
quality to understand the needs of
customers and provides the
products as per their specification.

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 The opening
 Need and problem identification
 Presentation and demonstration
 Dealing with objections
 Negotiation
 Closing the sale
 Follow-up

Application of selling principles
Selling is known as one of the most important function of every
business enterprise and it is very essential that it should be
done in an effective manner so company can generate more
number of revenues. There are several principles of selling
that should be effectively apply.

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Selling is all about relationship so it is very essential for seller to
first develop a relationship with audience. Price and value go
hand in hand is another principles of selling so it is very
important for seller to encourage buyer that price of product is
same as the value offer to them.
Always sell to people: A sales person always sell its product to an
actual individual and it is very essential to individual to consider
that all individuals are different form each other.

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They required to ask questions: In order to be a good sales person,
it is very important for individual to ask frequent question.
He/she should have information about how to create
questionnaire.
Listen to understanding: A sales person require to listen all the
things of prospective as this give him information about the
needs and requirements of others and help him in offer a
specific products to customers as per their requirements.

Finance principle and successful portfolio
results in increased productivity
Generate more number of profits is known as one of the main
aim of every business enterprise. Various financial principles
are there which help organisation to increase and maintain the
number of its profits.

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Investment principle: This principle states that all business
resources need to be allocated in an efficient manner. Decisions
of company should be that it not only help in generate revenue
but also help in save money for future.
Financing Principle: Mostly businesses are funded with both
equity and debt. It is very essential for enterprise to ascertain the
right mix in order to maintain the financial position of
organization.

Conclusion
It has been conclude from the above report that, sales
management has great importance for company. This helps the
company to make the strategies and plans for sales department
to achieve desired results.

References
Eldredge, L.K.B., and et. al., 2016. Planning health promotion
programs: an intervention mapping approach. John Wiley &
Sons.
Oliva, R and Watson, N., 2011. Cross-functional alignment in
supply chain planning: A case study of sales and operations
planning. Journal of Operations Management. 29(5). pp.434-
448.

Thank You