Download - SETTING PERSONAL SELLING OBJECTIVES
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SETTING PERSONAL SELLING OBJECTIVES
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Obj set in consultation with Marketing Department
Some Examples of Personal selling objectives:Maintain existing customer base Obtain 20% new customersMotivate Dealers- maintain 1 month stocksKeep existing customers informed of new ProductProvide technical service within 48 Hrs of call.Train Middlemen (dealer) on Customer Care
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Case on Personal Selling Objective- Case-1 A credit card company is Planning to set it’s personal selling objectives based on the following feedback it received from the sales department and the DSAs of the company. Average customers are not aware of the complete product benefits of credit cards. The DSA,s do not have skilled and trained Manpower. The conversion % in the assignment base chosen has been just 5%. The industry standard is 15% conversion. The customer base of this company ranks within the last three among the 10 players in this business. Based on the above please prepare personal Selling Objective for this organization
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What is Market Potential ?Estimate of maximum possible Sale opportunity in the Market.What is Sales Potential?•The possible sales which can be achieved out of Market PotentialWhat is Sales Forecast?Estimate of Sales in terms of units or value in given period of time
The above all is based on a given Marketing plan and inputs
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Market Motivation
Before fixing the forecast answer the following
•Why do people buy?•Why people do not buy?•How best to present product (the sales pitch)•Relative effectiveness of different selling appeals•Relative appropriateness of promotional methods
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Methods of Forecasting
Jury executive opinion
•Top executive estimate probable Sales•An average is calculated•The rationale and input material is shared.
Discuss strength & weaknesses
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The Delphi Method
•Developed by Rand Corporation•Similar to Jury Executive opinion•But done based on structured questionnaire•Eliminates majority opinion
Discuss Strengths and Weaknesses
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Poll of Sales Force Opinion
•Each Sales personnel does an forecast of his territory or assignment base.•Modifications are made by Mgt
Discuss Strength and Weaknesses
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Projection of Past Sales method
Add on based the current years sales performanceCould take past several years of actual performance
Current Year SalesNext year Sales = Current Year Sales X ______________
Last year SalesExample: ( figs in units)
110Next year Sales = 110 X _______
90 Next year Sales = 134Generally is around 15% of the past years performance
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Time Series Analysis
Similar to past Sales Projections but takes following into consideration
•Long Term trends•Cyclical Changes•Seasonal Variations•Irregular Fluctuations
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Survey of Customer Buying plans method
•Seek customer survey•Seek their plans to buy•Then estimate forecast
Discuss Strengths and Weakness
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EFFECTIVE SALES EXECUTIVE
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Traits of a Effective Sales Executive
•Ability to set personal goals•Matching it with org goals•Splitting the goals to set of activities to perform•Review the activities and modify if needed•Effective Time Management•Ability to plan daily and implement•Ability to exhibit skilled leadership qualities
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Relationship with Top Management
•Should exhibit initiative and personal drive•Keep Top Mgt informed on progress•Need to accept responsibility•Should not be indispensable•Effective Problem solvers and decision makers•Keep Management informed on decisions and developments•Report promptly•Do not relay on rumors•Do not seek help on decision making too often, hence diluting authority.
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Relation with Product Manager
•Provide vital inputs on product performance•Product jointly decided by Mark, Finance,Production & Sales Dept•Periodic feedback on Product for modification
Relation with Promotion Mgt
•Provide inputs for Promotional Strategy•Help in implementation•Keeps sales team informed on the promotional Plans•Takes advantage of the A & P investment.
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Relationship with Pricing
•Decided jointly by Marketing and Sales•Involves Finance, Production, Legal functions etc•Should be aware of competitor’s Pricing•Should have a feel of customer acceptability•Implementation of pricing
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SALES RELATED MARKETING POLICIES
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Product Policy- What to SellDistribution policy-Whom to SellPricing Policy- What price to sell
The degree of authority for above varies in different companies
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PRODUCT POLICY
Product line Policy•Changes in product offering•Re organizing product / line simplification•Re organization of Product line / Diversification•Ideas of new Product•Appraisal of proposal of New Products
Product design Policy
Product Quality/ Service PolicyGuarantee Policy
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DISTRIBUTION POLICY
Policy on Marketing Channels
Channel wise sales volume potentialChannel wise net profitability
Policy on Distribution Intensity
Mass distributionSelective DistributionExclusive agency distribution
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Case-II Sales ManagementProduct Related Policy: A Multi Product and Multi Brand company has eight brands in the product range of Toilet soaps.The contributions of various products are as follows:
Discuss on options of Product Line Policy
% of Profit Turn over contribution
PRODUCT A 9% 8%PRODUCT B 11% 9%PRODUCT C 14% 12%PRODUCT D 6% 18%PRODUCT E 2% 11%PRODUCT F -4% 22%PRODUCT G 15% 16%PRODUCT H -2% 4%
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Policy on Distribution Intensity
•Mass distribution•Selective Distribution•Exclusive agency distribution
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PRICING POLICY
Competition Related PricingMatching the competitor’s pricingPricing above competitorPricing under Competition
Pricing related to costsFull cost pricingPromotional PricingContribution pricing (covering variable cost)
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Buyer Based pricing•Based on Volume•Frequency of purchase•Geographical location of customer
List Pricing (Regulated Pricing for middlemen)•Recommended & control dealer price•Leads to customer satisfaction•Helps fight competition uniformly•Consider freight, Govt levies, taxes and other costs of dealer
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Policy on Discounts•Wholesaler, Retailer discounts•Turn over discount•Selective product discount
Geographical pricing Policy•FOB ( Free on Board) – (ex works,factory)- used to heavy products industrial products.•Delivered prices ( postage stamp pricing)
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Policy on Price leadershipIndustry leader sets price and other followExample: egg, cement, petrol etc
Product line PricingMultiple product pricing structurePlanned enhancementMutual advantage pricing
Competitive bidding policyClosed tendersOpen tenders
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PERSONAL SELLING STRATEGYPERSONAL SELLING STRATEGY
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•Kind of Sales force•Size of the Sales force•Appropriate deployment
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Competitive settings and personal selling strategy
•Pure Competition•Monopolistic Competition•Oligopolistic Competition•No Direct Competition
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Pure Competition•Many players•No specific player dominates market•No single player influence demand & supply Marjory•No Govt Regulations on pricing or supply
This hardly exists. If it does-personal selling strategy should be:•Better Service to the customers(Presale & Post Sale)•Organizational efficiency•Cost Management
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Oligopolistic Competition•Smaller groups of companies join together•They know each other•Makes difficult for new entrants•Competitors activities are closing watched•Personal selling helps in maintaining dealer co- operation, servicing distribution network•Personal selling effectively uses promotional strategy
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No Direct competition•No Direct Competition, but have in direct competition through substitutes•They would capitalize no competition situation•Price skimming or penetration strategy used.•Should aim at vast coverage of market•Personal selling should use pricing and promotion strategy to its advantage.
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Personal Selling Strategy Based on
Whom to SellWhat to SellHow to Sell
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Product Market analysis-Case-III Example for a Cellular company
Corporate SMEs Business/ Professionals Govt CORPORATE SMESBUSINESS/ PROFESSIONS GOVT
GROUP BOOKING
FREQUENT CALLER SCHEME
LOW CALLER SCHEME
PREPAID SERVICES
Identify Whom,What and How to sell?
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Determining the size of the sales force
Work load method
Decide assignment baseClassify based on time needed / calls neededDetermine calls per day/ month/ yearDivide it by assignment base to arrive at number of Sales personnel needed.
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Sales Potential method
Productivity based systemConsider average productivityDivide the target with productivity to arrive at sales persons needed
Incremental Method
Based on expected increase in cost/revenue per sales personnel addedCost Benefit compared and decision is takenThis is a good cost conscious and result oriented method
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SELECTING SALES PERSONNEL
SELECTING SALES PERSONNEL
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Interview
Reference Check
Testing
Physical Examination
Employment Offer
Rejection
Formal Application
Preliminary Interview
SELECTION PROCESS
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Formal application formCapture necessary information•Should be structured
Should have:•Personal Information•General Information•Employment record•Educational background•Health•Self assessment•Declaration
Allocate score to each set of information based on the desired job responsibility
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Interview
An interview can judge
•Common skills•Personal appearance•Manners•Attitude towards selling•General life•Reaction to obstacles•Personal impact on others
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Other Dos in an Interview
•Read the application form•Mark queries•Plan a strategy for interview•Present a ppt in case of large group•Use un-freezing questions•Maintain pleasant rapport
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Who should interview?Branch head with his assist—initial interviewShortlist candidate—Reg head or sales chief
How many in the panel?Depends on type of jobInstitutional Sales- Panel recommendedDirect Sales Sales- Sales Manager with his Assist/ HR Rep
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Interviewing the spouse
•Check for frequent travelling•Check for working hours•Check for independence
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Interview Techniques
Patterned Interview
•Have a structured interview•Job based questions
Non Directive Interview
•Open ended questions•Seek for narration of personal info, job exp, skills, strengths, weakness•Judge based on responses
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Interaction (Stress Interview)Simulate Selling EnvironmentSet up situation to understand psychological behaviorNeed trained psychologistsRating Scales methodRate each response in scale of suitability for job.Physical appearanceImpact on othersCommunicationExperienceAttitudeObjections handling skills
This eliminates gender, creed, religion bias.
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Credit checks•Check on credit rating•Check for large debts•Check for Financial Responsibility
Psychological testsThe following test can be conducted based on type of selling assignment
•Sales aptitude test•Attitudinal tests•Test for creativity•Industry knowledge•Habitual characteristics•Interest areas
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Role Play on InterviewEach team will have to conduct an role play based on discussion on the following aspects of selecting a front line sales personnel for service Industry (Telecom Industry) for handling corporate sales.
The non-directive interview should have the cover the following aspects:
•Put the candidate at ease•Find attitude towards selling•Ability to handle objections•Candidate’s positive attitude•Customer friendly attitude
Rate on the above parameters and give your feedback. Evaluation would be done on the Interviewer.
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PLANING SALES TRAININGPLANING SALES TRAINING
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Need for Training•Training is a means to supplement and share experience•Reduces initial turn over of Sales personnel
•It replaces the old method of “swim or sink”
Types of Training Programs•Trg for new recruits•Re orientation training for existing sales executives
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Following are aspects involved in Training programs
A -- Aim C -- ContentM -- MethodE -- ExecutionE -- Evaluation
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Aim•Define job specifications•Trainee’s background and experience•Sales related Marketing policies
Content•Product knowledge•Sales Technique•Market Information•Company profile
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Method•Lecture method•Personal Conference/ meeting •Demonstration method•Role Playing•Case Study method•Gaming•On the job Training•Programmed Training (self Interactive CD/ Internet)•Correspondence Course
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ExecutionWho should conduct program
Initial Trg ProgramContinuing Sales TrgTrg for the Trainers
Training philosophiesConditioned methodNon conditioned method
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When should the Trg be conducted?
After some time in fieldBefore and after field experienceFirst Trg and then fieldModule of “on the job Trg” in Trg program.
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Timing of continuing Sales Trg (Reorientation program)•New product Development•Low productivity•New Market segments approach•New Product application•Product Development
Training siteCentralized•Branch level•Other venue
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Manuals & Training Aid•Text of the content of Trg program•Case study•Exercises•Product information•Company profile•Objection handling tips
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FEEDBACK FORM ON SALES TRAINING TRAINING
Details of the Program___________________ Date:_____________
The Objective of the Feedback is to get an idea of the overall impact and benefit derieved from the program
INSTRUCTIONS FOR FILLINGMark Tick above the smiling sign depending upon the feedback you want to give
Poor Average Good Outstanding
TICK CONTENT OF THE TRAINING PROGRAM
Suggestions
TICK
SCHEDULE OF THE PROGRAM
Suggestions
TICK FACILITIES AND ARRANGEMENTS
Suggestions
Evaluation of the Training Program
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TICK QUALITY OF THE TRAINER
Suggestions
TICK ENVIRONMENT FOR LEARNING
Suggestions
TICK TIME SPENT ON CONCEPT AND ROLE PLAY
Suggestions
TICK TRAINING MATERIAL AND AIDS
Suggestions
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MOTIVATING SALES PERSONNEL MOTIVATING SALES PERSONNEL
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Most of us need motivation periodicallyFew are self starters
What is motivation?•It is goal directed behavior•The amount of effort a person is ready to spend in planning, identifying prospect, sales calls, etc•The needs and desires to achieve target
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Motivation help from Management
Management needs to continuously motivate sales personnelCreate a good motivated sales TEAM
Reasons for De-motivation
Due to the nature of Sales jobExhilaration and depression is mixedTurn downsFrequent failuresDifferent customer profileFace the brunt
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Role conflictsConflicts of identification with customer companyAdvocator of customer’s point of view
Repeated familiar situations•Same product•Same Territory•Same Customers
Maintain feeling of group identityMake them feel a part of the teamThere is a need to be seen as performer in group
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Basic Physiological Needs
Safety and Security Needs
Belongingness & Social Relationship needs
Esteem Needs
Self Actualization Needs
A.H Maslow, Motivation and Personality theory
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Achievement Motivational Theory (Self motivated people)They like problem situation and like personal responsibility in finding solutions
•Tend to set attainable goals•Want feedback on how they are doing•Can be found by (TAT )Thematic Apperception Test•They are self driven•They need right environment to perform
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Motivation and Communication•We need to establish communication with Sales team•They could have a real of an imagined problem•Sales Personnel need freedom of expression
Interpersonal contact•Meet Sales personnel often personally•Identify Business or personal problems•Arrange conferences, Regional meet to hear their problems
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Motivational interviews•Meet Sales personnel face to face•Find out their individual need fulfillment•Gather information bit by bit•Probe to motivate
Written CommunicationKeep the Sales team informed •Letters•Bulletins•Industry information circulars•New developments•Performance charts •Top selling Sales personnel list
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SALES BUGETTINGSALES BUGETTING
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Budgeting•Important tool for Revenue and cost control•Prepared for calendar or financial year•Further broken down into (monthly, quarterly yearly)•Corrective action needs to be taken•No sales worth enough with no profits•Monthly Budget monitoring a must•Paves the road for profitable management of business•Budget vs. Actual to be compared & variance identified
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General Budget Heads
SalesCollection
Sales & Marketing ExpensesEmployee costProduction costOver Heads/ Operation costsDepreciationInterest CostProfit value/ percentages
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Branches 2-Apr 2-May 2-Jun
Apr to Jun 02 Total
No. of Copies (000) 90
Product 1 4.0 5.0 6.0 15.0Product 2 1.5 2.5 5.0 9.0product 3 0.2 0.3 0.4 0.9Total Advt. Revenue A 5.7 7.8 11.4 24.9Collection (Cash Inflow) 2.8 4.0 4.9 9.0 20.7SALES & MARKETINGA & P 0.20 - 0.10 0.30 Business Promotion - Commission 0.17 0.23 0.34 - 0.75 Incentive 0.09 0.12 0.17 - 0.37 Customer Relations Mgmt/TelecomCo ordination costMarket ResearchTelemarketingTelesellingProvision For Bad Debts 0.09 0.12 0.17 - 0.38 TOTAL SALES & MARKETING AND PRODUCTION B 0.54 0.47 0.79 1.80 BRANCH EMPLOYEE COST C 0.68 0.68 0.68 2.04
Budget FormatQuarterly Budget
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Branch Establishment ExpensesAccomodation/ Brokarage (FF) 0.45 0.45 Conveyance 0.03 0.01 0.02 0.06 Deputation Allowance 0.20 0.20 0.20 0.59 Hire Charges 0.04 . 0.04 Miscellaneous Expenses 0.01 0.01 0.01 0.03 Market Allowance 0.13 0.13 0.13 0.38 Newspaper & Periodicals 0.01 0.01 0.01 0.03 Office Expenses 0.04 0.04 0.04 0.12 Office RentPostage & Courier 0.03 0.03 0.03 0.10 Printing & Stationery 0.05 0.05 Recruitment Expenses 0.05 0.05 Ttraining & Development Expenses 0.03 0.03 0.03 0.08 Repairs & Maintenance 0.02 0.01 0.03 Telephone & Fax Expenses 0.06 0.04 0.04 0.14 Transit Office Expenses 0.20 0.20 Travelling 0.17 0.10 0.12 0.37 Vehicle Maintenance 0.01 0.01 0.02 Water & Electricity 0.04 0.04 0.04 0.12 Regional Office expences 0.24 0.24 0.24 0.73 Finance Charges
TOTAL OF BRANCH OPERATIONAL COST D 1.80 0.89 0.90 - 3.59 GRAND TOTAL OF SALES & MKT, EMP, BR OPERATIONAL COST B+C+D 2.48 2.48 2.48 7.43 PROFIT 3.22 5.32 8.92 9.47
Arp 02 May 02 June 02 Ap-June Total
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SALES TERRITORIESSALES TERRITORIES
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What is Territory Allocation?
“Sales Territory is grouping of customers and prospects assigned to an individual Sales personnel”
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Advantages of Territory Allocation
To achieve better Market Coverage•Helps fight competition•Economical routing possible•Helps in Time Management of the Sales personnel•Easier for repeat follow up
Control Expenses•Reduces Travelling costs•Client servicing cost lowers•Cost per call ration falls
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Helps in Evaluation of Sales Personnel•Territory specific market potential chalked out•Actual vs potential can be compared•Local conditions can be considered
Contributes Morale of the Sales Personnel•Convenient for Sales personnel to manage•Reduces Travel fatigue factor•Avoids inter Sales personnel disputes on accounts•Finds more time
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Co ordination of Personal Selling and Advertising & Promotional effort•Helps to keep his customers informed on promotional plans•Can have establish feedback on promotion easily•Territory specific promotions can be planned.Effective Database management•Helps maintain and update Territory specific database•Sales performance territory wise•Customer behavior Territory wise
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Geographic Territory AllocationBasic shapes of Geographical Territories
•Road wise•Pin Code wise•Industrial zone wise•Major Road and landmark wise•Major parts of the city•City wise•State wise•Region wise
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Territory Allocation Based on Type of Business (partly Geographic)
•B2B•B2C•B2BC•Trading Area•Industrial area•Industrial Traders•Residential Area•Commercial Complexes
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Territory Allocation Based on market Potential (Non Geographic)
•List all prime segment based in descending order of Priority•Capture database of Segments•Obtain exact numbers in each segment•Estimate sales potential based on past performances in each segment•Match the profile of Sales personnel and area.
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Estimating Target for Sales personnel
•Estimate number of Potential customers•Pin down assignment base for individual Sales personnel•Fix conversion percentage for each segment of the assignment Base•Project average order Value•Covert to Sales Target for each Territory
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Rules: •Estimate potential target for area and not Sales personnel•This logic will help in changing Territory if needed•The next Salesmen takes over unachieved part of Territory