Marks & Spencer Sales Management: Strategies and Relationships Report

This report delves into the critical aspects of sales management, focusing on enhancing sales and profitability through effective strategies and customer relationship management (CRM). It highlights the importance of CRM in fostering stronger customer relationships and satisfaction, with various techniques such as outsourced solutions and customer-oriented software. The report analyzes key principles like mastering the art of possible and excelling at delivery, emphasizing their role in improving customer base and meeting customer needs. It further explores the significance of developing robust sales strategies to address customer needs, enhance return on investment for sales teams, and facilitate effective hiring practices. Recommendations include maintaining precise sales records and integrating a well-planned sales structure to boost sales ratios and profits. The report concludes by underscoring the importance of a focused sales management approach in driving business growth, productivity, and profitability. It references relevant literature and provides recommendations for practical application.

Sales Management
Task 4 and Task 5

Cover Content

Introduction
 Sales management is a quite vast discipline in business which helps in
enhancing sales of a company thereby leading to enhanced growth and
profits as well.
 Sales management is an essential tool whose main focus is to
practically apply sales tools and techniques which will further help in
maximising sales and profits in a business

Managing Customer Relationships
 For enhancing sales and profits of a business it is necessary that every
business concern focusses on adopting customer relationship
management.
 Customer relationship management is a process which managers of a
business undertake to improve customer's satisfaction and develop
stronger and effective relationships with them.

Key principles and techniques
 Various techniques of CRM include outsourced solutions, off the shelf
solutions, customer software and managed solutions as well.
 Outsourced solutions
 Customer oriented software
 Master the art of possible
 Excel at delivery

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 Outsourced solutions: Outsourced solutions are important as
application service providers provide effective web based solutions to
business concern which further help in improving customer and their
relationships.
 Customer oriented software: For enhancing customer's satisfaction
and sales performance managers of Marks and Spencer adopt
customised software

Principles
 While adopting these techniques managers of Marks and Spencer will
also have to follow certain rules and principles so that authenticity and
effectiveness of business practices is ensured. These principles have
been mentioned as under:
 Master the art of possible
 Excel at delivery

Critical Analyse
 By applying the above stated principles and techniques Marks and
Spencer will be able to enhance their overall customer base and satisfy
needs and wants of customers.

Importance of developing sales strategies
 Sales strategy refers to a process or a plan which is constructed by
business concerns so as to improve their overall sales and profits at a
quicker paced.
 This also helps in delivering longer sustainable positions to business
concerns.

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It helps in addressing needs of customers: Every time a new customers joins a brand, assisting
them will be a complex process as managers will haver to adopt new tools and techniques as
compared to current customer requirement.
It enhances return on investment of sales team: Formulating strategies and policies is a lengthy
process which expects managers of a business concern to be well aware about what their future
prospects are or what they are aiming at.
It helps in hiring the right people: Hiring or employing staff is every important for every
business concern as without an effective workforce no business can perform with effectiveness.

Core Finance Principles And Successful
Portfolio Management
 By adopting effective financial principles managers of Marks and
Spencer are able to develop effective and stable relationships between
reallocation of assets as well as creating value for inputs.

Recommendations
 By infusing an effectively planned and organised sales structure it is
examined that sales ratio and profits of a business will get a stable rise.
 It is recommended that managers should keep an exact record as to how
much sales has been done in how much time.