Sales Management: Roles, Responsibilities, and Key Qualities
Lesson 4: Introduction to Sales Management
1. Sales Force Management
The attainment of sales force goals in an effective and efficient manner through planning, staffing, training, leading, and controlling organizational resources.
Definition from the American Marketing Association: Sales management means the planning, direction, and control of personal selling, including recruiting, selecting, equipping, assigning, routing, supervising, paying, and motivating as these tasks apply to the personal sales
Read MoreStrategic Management: Key Concepts and Competitive Advantages
What is strategy? How do you define it?
- Continuous adaptation to changes and dynamics in the environment.
- The set of actions directed towards a specific objective. The result of the competition.
- The sum of a and b.
How are capabilities defined in a company?
The ability or competence to develop tasks successfully.
The flagship products of the Boston Consulting Group:
They have large financial needs to be covered.
Which are the 2 axes of the McKinsey and General Electric matrix?
Market appeal and competitive
Read MoreIndian Financial Market and Business Management
Indian Financial Market Structure
The Indian Financial Market is a well-structured system that facilitates the exchange of funds between investors and borrowers. It is broadly divided into two major segments:
1. Money Market
- Deals with short-term financial instruments (less than one year).
- Instruments include Treasury Bills, Commercial Papers, Certificates of Deposit, and Repurchase Agreements (Repo).
- Participants: RBI, Commercial Banks, Financial Institutions, and Corporations.
2. Capital Market
- Deals
Business Size, Growth, and Internationalization
Business Size and Growth Strategies
The concept of business size is related to a company’s capacity. The European Commission classifies firms into three categories based on their assets, revenue, and number of employees:
- Large Enterprise: More than 250 employees, revenue exceeding €50 million, or total assets exceeding €43 million.
- Medium-sized Enterprise: 50-250 employees, revenue up to €50 million, or assets up to €43 million.
- Small Enterprise: Fewer than 50 employees, revenue up to €10
Business Creation: A Step-by-Step Process
Process of Business Creation
The process of creating a business involves several key stages:
- Study of the Business Idea: Initial conceptualization of the business.
- Feasibility Study and Analysis: Comprehensive analysis of market, economic, and technical aspects.
- Definition and Execution of the Business Plan: Creating a detailed roadmap for the business.
- Decision to Create (or Not Create) the Business: Based on the feasibility study and business plan.
- Choice of Legal Form: Selecting the appropriate legal
Pricing Strategies: Vienna and Lladró Case Studies
Pricing Strategies: Vienna
Consumers are very mindful of time spent on non-essential activities. This could lead to a preference for fast food establishments like Vienna, based on speed and convenience rather than quality or price. However, even if price is a central element of Vienna’s strategy, they shouldn’t necessarily lower prices in response to competitors. Instead, they should adjust prices on products where demand decreases. Competitors might lower prices to avoid losing customers. Vienna
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