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Sales Forecasting
First thing asked about sales forecasting was, asking about use any bookish method and response was an adverse one. They primarily depend on sales history, if a bookish concept is applied; they are indulged in time series analysis for sales forecast. The process of forecasting undergoes by taking into account the growth pattern of sales in recent years. Capitalizing on sales pattern, they plan sales for the coming year. They even look for salesperson advice on sales forecast that is sales force composite, a subjective method of forecasting. In order to avert salesperson under-estimating the sales, salesperson is informed about the benefits that are at his disposal. Once he told about the perks that are placed for taking, an honest response regarding sales forecast can be expected from him. Along with conveying information on benefits, certain pressure is exerted on the salesperson too. This methodology is followed after having an experience the aftermath of casually asking salesperson about his set target and without implying above mentioned tools.
3M sales strategy
Goal set depends on the growth rate of sales, what is the pattern observed in recent sales. Accordingly measures are taken to plan a strategy. After forming a strategy, next step undertaken is to implement strategy. In sales department, supervisors or sales team leader are guided as to how strategy needs to be implement. Supervision over implementation of strategy is carried by regular appraisals of performances, making sure efforts are headed towards right direction and contributing its share in achieving the overall goal.
3M are involved in trade selling. Trade selling basically involves selling products to wholesalers and retailers for the purpose of resale. It involves push strategy. Push strategy entails, trying to make product available in market with covering maximum number of retailers and wholesalers. It plays a very vital role in raising product in-store visibility. Their targeted customers and accounts to be captured are retailers and wholesalers. They are supposed identify retailers and wholesalers needs and cater them. They use different techniques to deal with retailers and wholesalers.
Organizational flowchart of 3M
General Manager Marketing & Sales National Sales Manager Area Sales Manager Brand Manager Field Manager Sales personnel
They employ palm tops for sales recording and each salesperson is handed over this device depicting technological capabilities. Summing up all the internal factors set goal for the sales force management. Competition bring with threats as well as opportunities. Once competition enters market and stand parallel to your product, would actually further enlightens your product. You tend to give more attention to your product, after competition arises. You start to explore markets that were not look upon previously and were left uncovered earlier. This way market size increases and various other techniques are employed. They enhance their visibility and work on merchandizing. In response to competition, they advocate their price factor and if quality is superior to competition, it is exploited and is highlighting when making presentations to the customer