Sales Management: Sales Strategies, Profit & Account Management HSBC

This report provides an in-depth analysis of sales management practices at HSBC, a British international investment bank. It explores the values of managing sales, the importance of planning, various selling methods, and sales reporting. The report assesses how sales management principles adapt to consumer buying behavior and examines the benefits of different sales structures, using HSBC as a case study. It also highlights the significance of 'selling through' others and evaluates key selling principles and techniques for maintaining customer relationships. Furthermore, the report defines the importance of developing sales strategies to increase profit and incorporating account management, assessing how core finance principles and portfolio management contribute to competitive advantage. The document is available on Desklib, a platform offering study tools and resources for students.

Sales Management

TABLE OF CONTENT
INTRODUCTION....................................................................................................................3
P1 Explain the important values related to managing the sales and importance of planning of
sales, ways of selling and reporting sales...........................................................................................3
M1 Assess how principles related to sales management will be diverse in response to buying
behaviour of consumer......................................................................................................................6
TASK 2......................................................................................................................................6
P2 Assess the benefits related to structure of sales as well as how make preparation by adopting
particular example in reference of organisation................................................................................6
M2 Assess the execution of various types of sales structure by adopting specific organisational
example.............................................................................................................................................9
P3 Determine the importance, benefits of concepts of “selling through’ others............................10
TASK 3....................................................................................................................................12
P4 Assess the key principle and technique for successful selling and how they make contribution
to maintain relationship with customer in reference of specific organisational example...............12
M3 Assess the application of successful selling principle and technique in relation to the specific
organisational example....................................................................................................................14
TASK 4....................................................................................................................................14
P5 Define the significance of developing strategy related to sales that increase profit and
incorporating account management within sales structure............................................................14
M4 Assess how core finance principle and successful portfolio management cat lead to enhance
profit and competitive advantage....................................................................................................16
CONCLUSION.......................................................................................................................17
REFERENCES.......................................................................................................................19
Books and Journals..........................................................................................................................19

INTRODUCTION
Sales management is a process through which the manager of the company focuses on
adopting different tools as well as technique related to sales and handling the various
operations related to sales. In addition to this it is essential function of the business to provide
high quality product and services to its customer in order to increase level of profit and
accomplishing vision and mission of organisation during the period of time. In addition to
this for managing the sales in an effective manner it is necessary to make effective planning,
hiring of capable sales staff as well as sales reporting in order to perform different function
and activity in an effective manner. This report is carried upon HSBC. It is the British
international investment bank that provides financial services to its customer. This company
was founded by Sir Thomas Sutherland which is located in London, UK. There is a wide
range of product and services provided by the company such as retail banking, investment
banking corporate banking as well as private banking services to its customer in order to
retain them for a longer period of time. There is significance related to managing the sales in
an effective manner are mentioned in this report. Apart from this there are various benefit in
relation to the sales structure as well as the importance benefit of Concept related to selling
through others is mentioned in this report. There is various principle as well as technique for
selling and maintain the good relationship with its customer for increasing high profit and
sales in future period of time. They also implement the effective strategy related to sales in
order to gain high profit during the period of time(Paulson, 2020).
TASK 1
P1 Explain the important values related to managing the sales and importance of planning of
sales, ways of selling and reporting sales.
Managing sales is considered as a process through which the organisation focuses on
providing direction to the salesperson for accomplishing mission as well as mission in short
span of time. In context of HSBC the supervisor of the company focuses on providing
effective training session for its employees in order to boost growth as well as development
of Organisation in upcoming time period. In managing the sales it is necessary for the
company to manage the sales person controlling the various activities in relation to sales and
implementing different kind of technique related to sales for a completion target in given time
period. Sales manager plays an important role within business organisation in order to lead

the sales team. It is the responsibility of supervisor to lead its team in order to accomplishing
goal of boosting productivity as well as revenue. The main focus of HSBC is to provide
different kind of product and services to its customers such as financial services, retail
banking, private banking, credit card as well as Wealth Management and many more for
gaining more and more revenue. In addition to this it is necessary to generate the culture
related to sales person that help in creating passion as well as increasing moral between the
individual people. HSBC focuses on directing as well is controlling the different function and
activity which is performed by the employees of the company for achieving sales target
during the period of time. There is different kind of services related to finance for providing
better services to customer (Ishihara and Zolkiewski, 2017). In addition to this it is vital to
create the culture in relation to other staff that aids assistance in generating passion and
boosting the moral among the different subordinate of the business organisation during the
period of time. Therefore there is different kind of elements or factor related to sales
management that is given beneath:
Sales planning: It is necessary for managing the sales in an effective manner to set
effective objective towards the sales person in order to perform their work in an effective
manner. There are various individual focuses on whole target related to sales as well as
strategy related to demand and supply. In reference of HSBC the supervisor focuses on
building proper target related to sales for achieving it in given time period. It aids assistance
in increasing the level of sales as well as profit in upcoming time period.
Hiring of sales staff: The sales manager focus on handling those sales persons that
perform their work under them. This enlarges from the process of hiring of salesperson in
order to perform different work in an effective manner. They also focuses on providing
effective training session to its employees in order to accomplish vision and mission of
organisation in short span of time. In discourse to this, the top management of HSBC focuses
on hiring capable subordinate for executing various activities and task of organisation in
better way. Therefore this fills with capable candidate on available job with capable person
within business organisation.
Sales reporting: Herein, for managing sales in better manner the manager focuses on
assessing KPI for it staff. By implementing this kind of indicator named as KPI that help
supervisor to track as well as maintaining adjustments for boosting level of performance or
productivity (DiLorenzo, 2016). Through this indicator the top management assess whole

performance of salesperson in an effective manner it help in taking appropriate decisions
which will be beneficial for success as well as development of company during the time
period. The top management of HSBC focuses on implementing the indicator for assessing
the performance level of different sales person in individual manner that helps in boosting
profitability in upcoming time period. Therefore it is necessary to determine the different
kind of factor related to managing the sales in an effective manner for providing better
services to its customers as per their needs. In addition to this there is various type of
Importance of sales management in relation to HSBC that is going to be mentioned
beneath:
Handle the sales force: The importance of managing sales is that it is the duty of
manager to perform all the activity related to hiring, choosing providing effective training
session as well as performance management and providing benefits to the staff in an effective
manner. By adopting this method it help the manager to select the superior employee or staff
for performing different work within organisation (Prewitt and Riggs, 2018).
Influence sales: the significance of sales management is that the supervisor focuses
on influencing the staff so that it generates curiosity in them to marketing of their product in a
better manner. The focus is on generating lead that helps in achieving favourable outcomes
during the period of time.
Provide training session to its staff: It aids assistance in boosting capability, skill as
well as knowledge of specific individual person so that helps in resolving queries of customer
in an effective manner. Therefore it has been stated that training is very important for
generating lead within business organisation. The manager of the company focuses on
providing effective training related to providing different kind of product and services to its
customers such as retail banking, investment banking as well as Mortgage Loan and financial
services and many more
Build effective goodwill and reputation: the top management of HSBC focuses on
providing information to its customer related to the innovative product that help in increasing
brand image and reputation of company in mind set of user at Marketplace.
Handle the sales data: it is necessary for the manager of HSBC to collect the
necessary information in relation to the market trends as well as preferences of user their
income that imposes direct impact on the process of selling.

Assess the performance: it is necessary for supervisor of HSBC to assess the desired
or actual performance in order to find discrepancies that help in taking good decision which
will be beneficial for a firm (Gharib, Duwe and Weber, 2018).
Encourage sales force: for managing the sales in an effective manner it is necessary
to accomplish the target related to sales in order to motivate them.
CONSUMER BUYING BEHAVIOUR MODEL
ENVIROMENTAL iNFLUENCES- The factors related with this includesfirms
marketing commmunication, soci-cultural environment and situational factors.
Individual influences- This involves psycholohgical aspects, lifestyle, demographics,
economic situations.

Decision making process-It also includes fives stages that are motivation, search,
evaluation, purchase choice, purchase outcomes and feedback (Paulson, 2020).
Therefore there are different factor which is considered by the company for managing
the sales in an effective manner that help in boosting sales as well as profit in future period of
time.
M1 Assess how principles related to sales management will be diverse in response to buying
behaviour of consumer.
There is different kind of principle related to sales management adopted by
organisation for assessing the consumer behaviour. Structure and strategy it is vital to follow
the journey related to the goods as well as its user. The information related to assessing the
need and wants of consumer will be advantages for Organisation in future time period. In
addition to this it is vital for assessing changing tastes of customer in order to take correct
decision on the right time. It is necessary to collect the effective data related to maintaining
good relationship with its customer and retain them for a longer period of time. The business
organisation must possess the capability to divide the different information related to
customer as well as employer to increase their potential during the period of time. In context
of HSBC, the research department focuses on collecting the information related to changing
need of customer their income level for satisfying them(Hamilton, 2016).
TASK 2
P2 Assess the benefits related to structure of sales as well as how make preparation by
adopting particular example in reference of organisation.
The supervisor of HSBC emphasized on adopting product structure related to sales
within business organisation. Therefore there are various opportunity related to sales structure
which is provide to its staff in order to take different decisions in relation to sales which will
be advantageous for organisation. In addition to this the organisation focuses on taking
effective step for boosting profit in future period of time. Therefore the HR manager is very
important for providing effective training session to its employees for accomplishing Vision
and Mission stipulated period of time (Høvring, 2017). Therefore it is the responsibility of
HR professional to hire talented and capable employees and providing effective training
session to them for increasing success and development of the company in future period of
time. It help in increasing reputation as well as goodwill of company in front of customer at

marketplace therefore there are various functions or element which is adopted by HSBC that
is given beneath:
Recruitment: Recruitment is a positive process in which the HR manager focuses on
hiring those candidates who fill the available job vacancy in an effective manner. In addition
to this the HR professional emphasized on needed skill and knowledge for the available
employment in which the staff is to be hired. It is the duty of HR department to choose those
applicants who can execute the different task in better manner. The main goal of business
organisation is to ensure that they have knowledgeable candidate that provide maximum level
of satisfaction to its user in order to earn more and more revenue during the period of time.
The primary aim of HSBC is to provide superior services such as loan, Wealth Management
as well as investment banking and many more that help in increasing sales as well as profit.
Training and Development: It is essential for a manager of the company to offer
effective training for its employees in order to increase the knowledge that helps in executing
their work in better manner. In addition to this they also emphasized on providing knowledge
to it staff regarding innovative technology as well as innovation bring within business
organisation. In reference of HSBC the main purpose or aim of supervisor is to offer the
needed knowledge for accomplishing Vision and Mission of organisation. It has been stated
that the trained staff help in increasing production in future period of time. The trained staffs
helps in providing the advantages to business organisation in order to gain competitive
benefits over rival firm at Marketplace. They also provide effective training session for
giving them the necessary knowledge related to loan, mortgage as well as financial services
that help them in providing better services to its customer. In addition to this they also offer
the number of benefits to its customer for increasing sales as well as profit in future time
period. Therefore it is necessary to have a knowledge regarding the loan or financial services
provided by bank for offering better services to its customer for satisfying them. It is
necessary to provide effective training session to its employees for providing the knowledge
related to latest technology implementing within business organisation for providing better
services to its customer. It helps them in boosting sales as well as growth in future period of
time (Okorafor, 2019). It is important for HSBC to hire talented employees in order to fill the
available job vacancy in an effective manner. In addition to this it is also the responsibility of
supervisor of HSBC to provide suitable training for implementing advanced technology with
in business organisation as well as provide learning related to loan, mortgage as well as other
financial services which is offered to its user during the period of time.

Benefits of sales structure
 Communication- It is the responsibility of sales manager to make effective
coordination as well as communication between the sales forces in order to perform
the process of selling in an effective manner. In context of HSBC the manager focuses
on fulfilling their duty to make appropriate coordination among team member in order
to provide better services to its customers during the period of time (Ishihara, 2017).
 Duties and roles- The sales structure focuses on the roles as well as responsibility of
staff for performing the different work in an effective manner during the period of
time. In context of HSBC they adopt the sales structure for providing target to its
subordinate in order to accomplish them in a given time period.
 Performance analysis- It is necessary to organise the sales structure in such a manner
that help in assessing the level of performance of staff within business organisation. In
reference of HSBC focuses on making comparison between actual and desired sales in
order to find deviation that help in taking corrective decision related to productivity as
well as accomplishing sales target within targeted period of time(Lacovara, 2017).
 Enahance skills- The major advantage of sales structure of business organisation is
that it boosts the knowledge skill as well as capability of its staff in order to
accomplishing sales target that is the reason of success as well as development of
organisation.
 Clear picture- The main benefit of sales structure is to it clarifies the role of different
employees within business organisation in an effective manner. It reduces conflict as
well as grievances arises among the member of team and bring positive atmosphere at
workplace. In context of HSBC implement the sales structure in such a manner that
improve the knowledge of subordinate related to innovation as well as related to
innovative technology that help in achieving target of sales in pre-decided period of
time.
 Workplace environment- The Other advantage of sales structure is to improve the
environment in which the subordinate learn more and more related to loan, Wealth
Management, financial services provided to its customer in an effective manner. In
discourse to HSBC clarify the different role as well as responsibility of various
subordinate to execute their task in better way is clearly mentioned.

It is vital to adopt the effective sales structure in order to provide better services to its
customer which will be beneficial for development of organisation in future period of
time.
M2 Assess the execution of various types of sales structure by adopting specific
organisational example.
There is various kind of sales structure which is adapted by HSBC that is going to be
mentioned below:
Geographic organisation structure: It is necessary to conduct sales Team by
dividing in geographical region that help the staff in improving the knowledge with a
particular location. It helps in maintaining rapport by use of local companies and also
helps in identifying the regional competitor during the period of time. It aids assistance in
assessing the performance level as well as potential of market within particular
geographical location in an effective manner.
Product/ sales organisation structure: It is necessary for the organisation to
communicate the information related to selling the different kind of product and services to
its client during the period of time it helps in implementing the product line organisation
structure in order to give superior solution for all the problem of customer in an appropriate
manner. The main purpose of company is to provide different kind of services such as
financial facility, loan facility as well as Wealth Management facility provided to its
customer. In addition to this they implement this organisation structure in order to target
customer and provide them product as well as services as per their needs and wants
(Yuknavitch, 2017).
Customer organisation structure: For implementing the organisation structure the
main aim of HSBC is to attract the large number of customer towards the company. In
addition to this they focus on both employees as well as customer. They want to increase
the knowledge of subordinate related to handling resources as well as providing superior
quality Services to its customer by implementing this structure.
Vertical organisation structure: there are various industries that market their goods
and services in various way therefore it is necessary to bring positive image of the
product in the mind of customer at marketplace.

Therefore there are various structures which are mentioned above from which the
HSBC focuses on adopting product related structure in order to target customer during the
period of time. The main purpose of company is to provide different kind of services such
as financial facility, loan facility as well as Wealth Management facility provided to its
customer. In addition to this they implement this organisation structure in order to target
customer and provide them product as well as services as per their needs and wants.
P3 Determine the importance, benefits of concepts of “selling through’ others.
Customer relationship managment is defined as process of managing and maintaing
relationship between customers and organiation properly. Selling through others is the
concept of selling products and goods indirectly to the customers with the help of one or
more party. It is a wider and broader concept which is to be understood properly so that goals
and objectives are achieved without facing any issues. In context to selected entity, they also
use this selling through concept so that their financial services are being used by every
business sector as well as individual across the globe (Faruk, 2020).
Importance-
 Easily access- It is important to sell through others intermediaries or other retailers so
that product reaches to the customers properly
 Global experience- Also when selling is done by others organisation is able to access
the both domestic as well as international market.
 Increases customer ratio- Then, to achieve and increase the higher customer ratio as
well as market growth selling through others is to be adopted (Santos,2020).
Benefits-
 Wider market- Main advantage of this concept is that product and goods are being
sold at large scale as compared to personal selling.
 Strong network-Furthermore another benefit is that a long network chain is
developed between the intermediaries and organisation which is beneficial for longer
period of time.

 Awareness of customer needs-The chosen enterprise also gets benefit from the
intermediaries as they get knowledge and information about the demand and
requirements of customers.
In context to HSBC, they also sell their products and financial services through others
such as agents sales managers and many more they also used very sad song distribution
channel for selling which are discussed below-
Dual distribution- In this type of distribution channel more than one type of channel is
being used by the manufacturer wholesalers or retailers to reach to the customer. The
manager of HSBC make ensure that when going with this channel market research is to be
done properly so that conflict error do not occur during the process. It is mostly used and
adopted by enterprise so that in less time maximum selling is done to acquire higher profit
and sales revenue.
Selling through intermediaries- This type of channel involves various types of
outsourcing agencies or other retailers which help organisation to sell their product within the
market and to the end users (Cvelbar, 2017). This is beneficial as it help in selling the products at
wider and larger level.
So, with the help of the distribution channels and selling through other concept advantage
of cost effectiveness is gained by organisation. Furthermore, it is also seen that enterprise
adopts the selling through concept so that they can reach to maximum customers by spending
minimum capital on promotion or advertisement. It is duty of the manager and superior
authorities to check and examine the suitable distribution channels so that resources and time
are used accordingly. It is a time consuming process but is used by many organisation to save
time as well as cost of the management (Li, 2017). Thus, when using the distribution channels
proper considerations are to be considered.