MMPM 002 Solved Assignment 2023-24


MMPM 002 Solved Assignment 2023-24

Sales Management

MMPM 002 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Assignment Code: ASST/ MMPM 002/2023-24

Marks: 100

Attempt all the questions.

Q1. a) Define the terms sales and sales management. Discuss briefly the sales strategy formulation process and its limitation if any.

Sales refer to the activities involved in selling a product or service to customers with the aim of generating revenue. It encompasses the various stages of the selling process, from prospecting and lead generation to closing the deal and building customer relationships. Sales involve communication, negotiation, and persuasion to convince potential customers of the value of a product or service.

Sales Management: Sales management involves the planning, direction, and control of an organization's sales activities. It includes setting sales goals, developing strategies to achieve those goals, managing sales teams, and monitoring performance. Sales managers play a crucial role in guiding and supporting sales representatives to maximize their effectiveness and contribute to the overall success of the business.

Sales Strategy Formulation Process: The sales strategy formulation process involves several key steps:

Setting Objectives: Clearly defining the sales objectives, such as revenue targets, market share goals, or customer acquisition goals.

Market Analysis: Conducting a thorough analysis of the market, including understanding customer needs, competitor analysis, and identifying potential opportunities and threats.

Target Market Selection: Identifying and selecting specific target markets or customer segments that align with the company's products or services.

Developing Sales Tactics: Creating specific tactics and plans to reach the target market, including pricing strategies, distribution channels, and promotional activities.

Sales Forecasting: Estimating future sales based on historical data, market trends, and other relevant factors.

Resource Allocation: Allocating resources such as budget, personnel, and technology to support the sales strategy.

Implementation and Monitoring: Executing the sales strategy and continually monitoring its effectiveness. This may involve making adjustments based on real-time feedback and market changes.

Limitations of Sales Strategy Formulation Process: While the sales strategy formulation process is crucial for achieving sales goals, it has its limitations:

Dynamic Market Conditions: Markets are dynamic and can change rapidly. A strategy formulated based on current conditions may become less effective if market dynamics shift.

Uncertainties: External factors such as economic conditions, political events, or technological changes can introduce uncertainties that affect the success of a sales strategy.

Human Factors: The success of a sales strategy depends on the effectiveness and adaptability of the sales team. Human factors such as skill levels, motivation, and teamwork can influence outcomes.

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Competitive Response: Competitors may respond to the implemented strategy, affecting its effectiveness. A strategy that worked initially may need adjustments to counter competitive reactions.

Technology and Innovation: Rapid technological changes can impact the relevance and effectiveness of a sales strategy. Organizations need to adapt to new technologies to stay competitive.

In summary, the sales strategy formulation process is a dynamic and iterative process that requires continuous monitoring and adaptation to navigate uncertainties and changes in the market environment.

b) Trace the evolution and growth of personal selling by the help of secondary data and internet sources as well.

Q2. a) Why communication skills are essential in sales job? Elaborate when and why nonverbal communication becomes essential in the context of sales situation. Substantiate.

b) Explain the concept of merchandising and its role and functions. Highlight the role of a sales person in the context of visual merchandising.

Q3. a) What is Job Analysis? Discuss with suitable examples the steps involved in planning recruitment function in an organization.

b) What are the objectives of sales evaluation? Explain the need and purpose of sales evaluation and control systems in the context of sales force management.

Q4. a) Explain the importance of sales forecasting its meaning purpose and scope. What are the quantitative methods of forecasting that a sales manager can use for the purpose of sales forecasting?

b) What is a sales organization? Discuss the need for a sales organization and the process involved in designing the sales organization.

MMPM 002 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

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