NMIMS MBA Sales Management Solved Answer Assignment

SALES MANAGEMENT

NMIMS MBA Sales Management Solved Answer Assignment

Question 1:

FMCG companies like Unilever and Procter& Gamble salespeople are well-known to be given forceful sales targets and quotas. Sales target and quota setting has 4 approachesspecificallyprofit target/quota, activity target/ quota, sales volume target/quota, and expenses/target quota. From your knowledge of the FMCG market, what kind of approach would be used by you to set targets for the sales group and why? Explain in detail.

Introduction

Reliable income growth is essential in the fiercely competitive world of sales. It is, however, unquestionably difficult. Because they provide sales teams with a specific goal to work towards, creating realistic sales goals can be a useful tool for determining the best course for success. Nonetheless, many CEOs continue establishing unattainable or excessive sales objectives, which demotivates and exhausts sales representatives.

Concept and Analysis

Sales quotas are a key motivator for any organization or business that depends on sales. The effectiveness and motivation of the sales staff are crucial to many businesses, including those in the FMCG industry. Their efforts are focused and held accountable by sales quotas. Their variable remuneration for the year is frequently based on their percentage of quota. The performance of the entire company is also based on these goals. The company can be determined by adding together all of the sales quotas.

Conclusion

Businesses typically use a variation of these quotas. Typically, total sales and activity quotas are the best combination quotas. Such a mixture affects both selling and non-selling activities. The approaches as mentioned above are only time-tested annually to meet the sales quotas pledged to suppliers, investors, and banking institutions.

NMIMS MBA Sales Management Solved Answer Assignment

Question 2: Sales prediction and forecasting is one of the greatest andvaluableimplements for any large organizations to match its revenue assessments. Standard forecasting implements are poll of sales force opinion, jury of executive opinion, time series analysis, projection of past sale sand exponential smoothing. What approach would you suggest for a startup organization and why?

Introduction

Using the facts, you have at your disposal to estimate and predict how the business will develop is the technique of forecasting. Creating short-, mid-, and long-term company projections using various forecasting techniques is crucial. As a result, enterprises have a clearer understanding of how their businesses operate and the objectives they are pursuing.

Concept and Analysis

The foundation of sales predictions is collecting and examining metadata related to the company’s sales operations. Metadata is information about their data; in this example, it refers to the statistics compiled about the startup’s sales activity, such as cold calling, concluded transactions, expenses, and so forth. It is crucial to acquire this data in a methodical manner because companies generally start from scratch without much metadata to work with. Capturing this data doesn’t take much work, but once it’s been analyzed, the value is enormous and vital to the achievement of the company.

Conclusion

Finding the resources and the time internally to handle higher order volumes is difficult if the firm is profitable. Especially during periods of high sales volume, this might be seen. Failure to complete orders on time or client dissatisfaction is the last things you need. Forecasting is essential because of this.

NMIMS MBA Sales Management Solved Answer Assignment

Question 3: HCL is an Indian multinational with its headquarters based in Delhi. It has total revenue of $11Billion with net income of $2.8 Billion across all its business units which has both information technology services and products. Based on the success of its local laptop brands in the Indian marketplace, HCL would like to enter the high-end laptop/notebook segments by distributing Dell products. Laptops/notebooks as a product category fall in both the B2B (Business to Business) as well as B2C (Business to consumer) segments. As the Vice President Sales for HCL-Dell laptops, you are required to come out with a sales management strategy covering sales methodology and budgeting:

Introduction

Sales management is the practice of carefully planning and budgeting in order to achieve sales goals. Sales management aids in maximizing employee potential and ensuring that the organization’s sales objectives are met in the most efficient manner possible. Social psychologists and marketing academics have conducted several studies to determine whether marketing is a science or an art. Numerous hypotheses have been produced to describe the buyer-seller purchasing process.

Concept and Analysis

The “Right set of circumstances” in a more complex form is described by Howard’s Behaviour Equation Theory of Selling, which was developed with the use of a stimulus-response model and other behavioural study findings. This is the theory that best fits the HCL-Dell laptop sales model.

1. Buyers are motivated by strong internal cues known as drive. Psychological requirements and learnt impulses, such as pursuing status or social acceptance, are the sources of innate drives. The sales team can play on this while selling the laptops to B2B clients.

Conclusion

It is essential to understand how consumers behave when buying a new laptop for any effective sales plan. While purchasing a laptop, customers go through a series of stages in order.

NMIMS MBA Sales Management Solved Answer Assignment