Also referred to as an incentive program, an incentive scheme is a formal scheme that is usually put to use when a company wishes to promote a certain kind of behavior or action amongst its customers. The key to be noted here is it is time specific. This means that the scheme lasts for a
Sales management articles
Sales Coverage strategy
Sales are of paramount importance to any business. Small shops to global multi-nationals run their businesses in the hope of achieving their targeted sales goals. Since the customer is the king for all businesses, every single business entity tries its best to woo their prospective customers through different strategies. In this mad rush for higher
What is an Export house?
Export as a business is growing across multiple sectors. There are always a number of countries which are under developing stages and a lot of material to these countries goes from developed nations. At the same time, agriculture and other such produce is exported from developing nations to developed nations. In short, there is always
ABC Analysis in Inventory Management
Inventory management is a humungous task for all the business corporations. For those into manufacturing and retailing, inventory management is that vital business function that determines their survival, profitability, and competitiveness in the market. There have been devised numerous techniques and software that claim to provide a perfect plan to effectively and efficiently manage this
Objectives of Trade Promotions
Trade promotions include smart ways to push more of your product to your distribution channel. The more the motivation of distribution channel, the more the channel will push to the end customer. You can read about the many types of trade promotions being used in the market. The objectives of Trade promotions are manifold
Factors affecting Sales of a Product
Any business, whether a start-up or an established one, put maximum efforts for expanding sales volume because sustained growth in sales is the only key to survival in the market. A company resorts to many means of achieving this end: introducing new products; promoting them through attractive marketing campaigns and schemes; offering discounts and easier
Importance of International Business – Benefits of International Business
International business has many advantages and benefits for a Production or manufacturing company. With local markets being saturated, many companies think of expansion via international business. So the question which pops up is – What is the importance of international business and what are the benefits of International business? Let us discuss the same. 1)
6 Factors influencing structure of Sales organization
The sales department in most organizations is usually formed to help handle inbound calls and sales related tasks. The department can also take up the responsibility of managing the procurement of goods. This is the team that is responsible for the growth and development of any profit oriented business. Creating a dynamic and fruitful sales
What is Primary sales, Secondary sales and Tertiary sales and what factors determine them?
Any company which produces goods is concerned with the sale of the goods and movement of goods from the company to the end customer. This movement of goods involves three stages – Primary sales, Secondary sales and Tertiary sales. We will discuss each of them in detail. Remember that the movement of goods is critical
8 Reasons for sales pressure and how to manage sales pressure?
If someone asks me the toughest jobs out there, i will definitely nominate sales as one of the top 10 toughest jobs. The reason is simple – because of the sales pressure a sales person faces day in and day out. However, it is important to note that if you asked the experienced sales person,
Cold Canvassing and its Application in Marketing
Cold canvassing is an interesting and widely used concept in Marketing. All of us have either done cold calling or have been a target of cold calling in one way or the other. Cold canvassing is also known as cold calling, which is a term that we are all more aware of. Cold canvassing is
4 reasons that explain the Importance of Goals to any organization
It is important for all business organizations to have written goals that form part of their business plan. The importance of goals is because they mostly help in deliberating the specifics that the organization needs to accomplish in regards to growth, market share, and profitability. In some occasions, goals can as well be set for purposes
10 Personal Selling Skills required for success in sales
Sales is one of the toughest jobs in all industries. This is because a sales guy has to face rejection over and over again and yet complete the targets they are given. Not an easy job at all. To do this, the sales person needs to know everything about the products they are selling and
Why sales incentives should be used to motivate your sales staff?
Recently, i wrote an article which gave me the idea to write another article on Sales incentives and its role in the motivation of your sales staff. The first article i wrote was on Sales motivation and why it is important for your sales staff. If you want to combine sales motivation, and want to
What is Sales promotion and what are the types of sales promotions?
Chances are, right now if you step out in the market, you will find a shop offering discounts on all its products. Similarly, you might find a dealer strongly pushing one brand over the other. These are perfect examples of Sales promotions in action. What is sales promotion? Sales promotion is a type of Pull marketing