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Impact of Marketing
On Society: High Prices Manipulation of Demand High Pressure Selling Cultural Pollution Excessive Political Power Social Rivalry
Impact of Marketing
On Consumer Welfare High Prices Manipulation of Demand High Pressure Selling Shoddy or unsafe products Minority discrimination
MARKET SEGMENTATION
Territorial - Regional / Geographical Demographic Income / Education / Age / Sex / Language / Race Social Class / Status / Life-style Psychological Attitudes, Values, Behavioral pattern Volume-wise based on buying quantity
MARKET SEGMENTATION
Benefits The seller is in better position to locate his target group & compare market effectiveness. The seller can make finer adjustments of his products and their marketing appeals. Segmentation is the key to economic or costeffective market coverage. By identifying the target customer, it is possible to reduce expensive sales and service time, cut down wasted calls and make advertising and promotion more purposeful.
SALES MANAGEMENT
Two Important Aspects of Sales Management : Sales Policy (Statement of Intention or approach that acts as guiding force in coordinating and directing the activities of the organization as a whole or any functional area.)
SALES MANAGEMENT
Sales Force Management (Determining & reviewing the size of sales-force, Selection & recruitment of sales personnel, Training, development and motivation of sales personnel, Organization of Sales conferences & meetings, Sales Persons Reports, Evaluation of Sales Personnel, Compensation and incentive schemes for sales personnel)
SALES FORECASTING
Forecasting is the identification or prediction of sales expected to occur after a particular period or during a particular time. A) Financial & Semi-Financial Tools 1) Historical Analogy Method. 2) Corresponding Period Comparison 3) End-users / buyers expectation method
SALES FORECASTING
B) Quantitative & Statistical Tools 1) Time Series Analysis (Adjustments for Seasonal & Cyclical Variations) 2) Trend extension or Regression Analysis 3) Multi-variable Analysis 4) Exponential Smoothing 5) Probabilistic Models 6) Input-Output Tables/ Techniques 7) Functional Models 8) Technology Forecasting
SALES FORECASTING
C) 1) 2) 3) 4) Qualitative Methods: Opinions from Experts Brain Storming Delphi Method Scenarios Building
SALES FORECASTING
D) Field Survey (Primary Data) 1) Questionnaire based survey of representative samples, established preferably by stratified Random Sampling Technique 2) Bridging Factor for estimating universe / population from samples 3) Test Marketing
SALES FORECASTING
E) Literature Survey (Secondary Survey) 1) Sales Budget is a realistic estimate of expected volume of sales, both in quantitative & financial terms. 2) Sales Targets are generally set slightly higher levels than the budget figures.