Unit 39: Sales Management assignment sample-BTEC-HND-Level 4 & 5

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

The discipline of sales management has been undergoing a revolution. Rapid changes in the dynamic between buyers and sellers, due to fast-paced eCommerce evolution as well globalization trends have caused organizations around today’s world be forced into reevaluating their approach towards promoting company products or services by implementing an environment focused on customer needs rather than solely profit maximizing goals like before where there was more emphasis put onto meeting numbers at any cost regardless if it means sacrificing quality standards because now those days seem behind us thankfully but unfortunately some companies still haven’t quite gotten over this transition yet so we need professionals who can balance both sides of the equation.

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Sales management is the process of working with a team to achieve specific goals. It’s not just about coming up with new ideas, but also executing those ideas and taking care of the people on your team. The goal is to get more sales for less cost. Sales managers are in charge of meeting revenue targets and managing their teams so they can be successful at what they do best – selling!

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Learning Outcomes

By the end of this unit a student will be able to:

Demonstrate an understanding of the principles of sales management

Sales management is an integral step in the sales process. It may be difficult for some to think of sales management without thinking about the corporate culture that impacts a company’s bottom line, new hires and training to keep staff engaged, or even technologies like CRM. Actually, with regards to these items, they play a role in the execution and delivery steps of the sales process.

Sales Management differs by situation due to varying factors such as target market, selling methodology employed by the organization (e.g. consultative vs cold calling), etc.

Evaluate the relative merits of how sales structures are organized, and recognize the importance of ‘selling through others’

Sales structures are typically either ‘inside’ or ‘outside,’ and the degree to which outside structures are used often reflects on the sales strategy of the company. Inside structures refer to any organization that recruits its own staff from within, where they work side by side with other salespeople – this is a very old school model and in today’s cut-throat competitive environment it can undo all previously captured market share.

The alternative is an outside structure whereby a company relies entirely on 3rd party commissions agents working inside telesales rooms who place cold calls onto waiting lists, trade shows, and exhibitions. This structure is much more cost-effective because only one commission agent per organization needs to be paid while others take turns with their quota of calls.

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Analyze and apply principles of successful selling

Techniques for successful sales-

1. Provoke desire in the other person. This means identifying what is most important to the customer and then suggesting that your product will meet those needs or desires better than anything else. To do this, use your knowledge of what people want, such as a promotion at work or improving their marriage.

2. Make a strong appeal to the self-interest of others, by letting them know how much they would benefit from using your product rather than someone else’s, given differences between products/services offered and perceived value among potential customers  In addition identify alternatives that are available – let customers decide which they want AFTER you have positively evaluated each option! People suffer “satisfaction-with-choice” when they don’t like what they bought.

3. Use social proof – using testimonials, case studies, and other means to convince prospects that you have benefited a lot of people just like them, while competitor products haven’t worked as well.

Demonstrate an understanding of the finance of selling

The best way to demonstrate an understanding of the finance of selling is to assume that you are a business owner who needs to generate a profit.

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Profit = Revenue – Cost

Costs in any sale can be broken down into 3 distinct areas: Cost of goods, the cost associated with the purchase, and cost incurred from making the sale.

These costs can easily be calculated based on specific information about how the company records its financial transactions. In order for there to be zero profit (which is also where inventory typically sits), each person or entity making a money transfer involved in generating that sale needs to break even. So if Product A has $125 worth of direct costs and Product B has $45 worth it would take 5 purchases of product A for you to recoup your costs.

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