Reference no: EM13839700

Develop a sales plan

Assessment 1

In this assignment I will discuss a business "*** Company", which is located in ****** Street, Melbourne. This business was established back in 2005 by Mr. ********.

• Describe the product

Products offered by *** company are:

• Set appropriate targets

Products offered by *** company Targets to be achieved (weekly/monthly/quarterly/yearly) Students only need to select one of the above options

• Describe what approaches you will use to meet the sales objectives

Students need to select 2 or 3 of the following options and then provide the detailed explanation and examples:

• answers to frequently asked questions:

• introductory techniques:

• planned approaches:

• sales scripts:

• strategies for handling negative comments:

• Identify all resources required to achieve the sales objectives

Students need to select 3 or 4 of the following options and then provide the detailed explanation and examples:

• human resources:

• location/premises:

• OHS resources:

• plant/machinery:

• raw materials:

• refurbishment:

• staff amenities:

• stock and supplies:

• storage space:

• technological equipment/software:

• training materials:

• Detail the advertising / promotional strategy that will be used

Students need to select 3 or 4 of the following options and then provide the detailed explanation and examples:

• Flyers:

• Coupons:

• Gift cards:

• TV advertisement:

• Radio advertisement:

• Online advertisement:

• Magazine advertisement:

• Transit advertisement:

• Detail the distribution channel

Students need to select 1 or 2 of the following options and then provide the detailed explanation and examples:

• Agents:

• brokers:

• industry associations:

• Include a realistic budget for implementation of the sales plan

Students only need to select 3 or 4 of the following options

Sales plan implementation Budget

Flyers $***

Coupons $***

Gift cards $***

TV advertisement $***

Radio advertisement $***

Online advertisement $***

Magazine advertisement $***

Transit advertisement $***

Total $***

• Include appropriate risk management strategies

Research:

1. Identify the purpose of your sales plan

Students need to select 1 or 2 of the following options and then provide the detailed explanation and examples:

• communicating a message to a particular audience:

• differentiating features or benefits:

• promoting image:

• providing information:

• recruiting staff:

• retaining customers:

• stimulating demand for a product or service:

2. Identify and review the essential components of your sales plan

Students need to include all of the following options and then provide the detailed explanation and examples:

• Introduction

• Segment overview / description / structure

• Description of implementation

• Resources required (physical, staff, sales / marketing budget, etc)

• Summary of major tasks for implementation

• Implementation schedule

• An outline of the roles and responsibilities for each person involved in the implementation

• Availability of staff / personnel (table preferred)

• Training required

• Post implementation verification (sales plan reviewing strategies)

• Monitoring strategies

3. Identify and document the business goals and objectives as a basis for measuring your sales performance

Students need to select 2 or 3 of the following options and then provide the detailed explanation and examples:

• key performance indicators:

• strategic objectives:

• price:

• market and sales indicators:

• brand value:

• quality standards and criteria:

• performance benchmarks:

• milestones:

4. Identify current product sales performance including market saturation

Students need to select 2 or 3 of the following options and then provide the detailed explanation and examples:

• analysis of sales history:

• consideration of related product strategies:

• evaluation of competitors' or other companies' approaches:

• innovative suggestions:

• marketing research:

5. Identify any new opportunities available for your product

Students need to select 2 or 3 of the following options and then provide the detailed explanation and examples:

• Cross selling:

• Re-packaging:

• Business partnership:

• Add new ingredients or elements to the current products:

Develop the plan, ensuring you:

1. Research market needs, and market size and potential

Students need to include all of the following options and then provide the detailed explanation and examples:

Market needs

• Needs for product quality level:

• Needs for customer service level:

• Needs for product prices:

Market size:

• Your answer should be expressed as ?%.

Market potential:

In the future *** Company has strong/medium/weak (students need to select any one of these) growth potential. The reasons are: (students need to select 2 or 3 of the following options to explain and provide examples)

• the capacity of the business to reach and service the target market in a cost-effective manner:

• the number of competitors in the market place:

• the potential size of the target market:

• the quality and value of the business initiative:

2. Identify and analyse current market needs, customer profiles and new opportunities available

Students need to include all of the following options and then provide the detailed explanation and examples:

• age group:

• income level:

• education:

• sex:

• occupation:

• area of residence:

• purchase behavior patterns:

3. Set appropriate KPI's (targets, timelines, etc)

Sales plan Targets to be achieved Starting time Completing time

Flyers $*** DD/MM/YY DD/MM/YY

Coupons $*** DD/MM/YY DD/MM/YY

Gift cards $*** DD/MM/YY DD/MM/YY

TV advertisement $*** DD/MM/YY DD/MM/YY

Radio advertisement $*** DD/MM/YY DD/MM/YY

Online advertisement $*** DD/MM/YY DD/MM/YY

Magazine advertisement $*** DD/MM/YY DD/MM/YY

Transit advertisement $*** DD/MM/YY DD/MM/YY

4. Identify the support required (staff, selling approach, training, product knowledge, etc)

Staff required Students to provide the positions of the staffs

Selling approaches required Students to select from the following:

• answers to frequently asked questions

• introductory techniques

• planned approaches

• sales scripts

• strategies for handling negative comments

Training required Students to select from the following:

• Selling techniques

• Targets to be achieved

• Staff roles and responsibilities

• Sales timeframe

Product knowledge Students to select from the following:

• Product features:

• Product prices:

• Product packaging:

• Product after sale services:

5. Set a realistic budget

The total budget for the sales plan will be $?.

6. Determine how you will monitor the success (or lack of) implementation of your sales plan.

Students need to select any 1 of the following to provide detailed explanation and examples:

1. Key performance indicators (KPI's):

• market share percentage:

• unit sales:

• return on investment:

2. Financial ratios:

• debt ratio:

• liquidity ratio:

• net profit margin:

3. Benchmarking:

• Industry best practice:

Develop strategies for minimising risks, ensuring you:

1. Identify specific interests and objectives of relevant people and seek and confirm their support of the planned sales direction
relevant people interests and objectives How to seek their support internal or external consultants Eg: to provide the professional and expert opinions of the sales plan Eg: through emails

employees **** ****

supervisors **** ****

relevant managers **** ****

2. Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements
Risk category

Risk impact Risk severity Risk frequency Risk Control Responsible persons

Financial If this risk happens, what's the results to business? How severe is this risk? How frequently will this risk occur? What are the solutions for this risk? Staff name

Safety

Business images

Natural disaster

Business relationships

3. Develop contingency plan to address possible areas of non-conformance with the plan

Risk category

contingency plan

Financial This is the back up or second solutions for risk control

Safety

Business images

Natural disaster

Business relationships

Assessment 2

1. A session plan

Training topics Training time Training locations Trainers Training methods

1. Staffs required for sales plan DD/MM/YY You need to write some address You just need to add someone's names here Students need to select 1 or 2 from the following:

? Face to face delivery

? Demonstration

? Simulators

? On-The-Job Training

? Coaching/Mentoring

? Role Playing

? Case Studies

? Planned Reading

2. Staffs roles and responsibilities during sales plan

3. Product knowledge

4. Sales targets to be achieved

5. Sales methods to be used

You also need to provide 4-5 power point slides to be used during the training. Imagine you are the trainer.

Assessment 3

• the success or lack of the sales campaign

This sales campaign has been assessed as successful or unsuccessful. (you need to select one) As the sales campaign has achieved the following results:

• Increased sales of $****

• possible reasons for the campaign result

Students need to select 3 or 4 from the following and provide the detailed explanation and examples:

• Management support:

• Full participation from the staffs:

• Well understood the sales plan:

• Realistic budgets to be allocated:

• Skilful and experienced staffs:

• comments received by consumers in relation to campaign

(what someone said about this sales campaign)

By first name/surname, suburb

• appropriateness of coverage

Students need to select 2 or 3 from the following and provide detailed explanation and examples:

? sales and marketing reports:

? financial statistics:

? market trends:

? competitive activity:

• possible environmental factors that may have impacted the campaign, etc.

Students need to select 2 or 3 from the following and provide detailed explanation and examples:

• seasons:

• weekend or weekdays:

• temperature:

• economic conditions:

• location of the sales plan:

• modifications that can be implemented to improve the future results

Students need to select 2 or 3 from the following and provide detailed explanation and examples:

• starting time and ending time:

• sales plan locations:

• sales budget allocation:

• how the modifications will be reviewed

Students need to select 2 or 3 from the following and provide detailed explanation and examples:

Through financial reports:

Through customer interview:

Through staff interview: