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Sales Management
December 2022 Examination
1.
Pharmaceutical salespeople are known to be given aggressive sales quotas and
targets. Sales quota and target setting have 4 methodologies namely sales
volume target/quota, activity target/ quota, profit target/quota, and
expenses/target quota. From your understanding of the pharma industry, what
kind of sales target/quota methodology would you use for the pharma sales team
and why? (10 Marks)
Ans 1.
Introduction:
An
individual supplier's or a team's financial goal that they should meet by the
quit of a predetermined time frame, commonly one month or one zone, is called a
sales quota. Sales control sets quotas, and while they're met, the salesperson
typically gets a performance incentive. Sales managers usually set a timeframe
for groups of male or female salespeople to finish those objectives. Moreover,
they are frequently time-sensitive and scheduled to be completed
month-to-month, quarterly, or annual. There are numerous techniques to degree
an income quota. This may be as popular as the wide variety of latest clients,
and so on., or as particular as devices sold. They are typically quantified
more widely regarding profits, income, or sales activity. A sales quota is
often selected through income management to maximize the income effort.
Concept of sales Quota:
The
concept of the quota dimension is extensive. Smaller organizations that offer a
single object at a fixed price often set quotas for how many devices a
salesperson must promote each month. Here are the top five categories of
quotas:
2.
Sales forecasting is one of the most important tools for any large organization
to meet its revenue estimates. Popular forecasting tools are a jury of
executive opinion, a poll of sales force opinion, projection of past sales,
time series analysis, and exponential smoothing. What method would you
recommend for startup organizations and why? (10 Marks)
Ans 2.
Introduction:
An
income forecast evaluates the variety of sales an enterprise can predict during
the plan period. An income forecast is extra than just an estimate of future
sales. It is the technique of coordinating marketing initiatives with
opportunities. Calculating a company's market proportion in a given destiny is
called income forecasting. Income forecasting, consequently, shows the likely quantity
of sales. The relevant data and accurate inferences are essential components of
correct income forecasting. Overestimating income could bring about spending
money that you won't recover. You can have insufficient stock for the upcoming
month if you underestimate sales. For a start-up, it could be tough to find the
internal time and sources essential to deal with higher-order quantities. This
could be particularly apparent throughout periods of excessive sales. The main
problem is the inability
3.
Wipro is an Indian multinational with its headquarters based in Bangalore. It
has total revenue of $9 Billion with a net income of $1.4 Billion across all
its business units which has both information technology and FMCG (Fast Moving
consumer goods) products. Based on the success of local laptop brands in the
Indian marketplace like HCL, Wipro would like to re-enter the laptop segment in
India.
Laptops
as a product category fall in both the B2B (Business to Business) as well as
B2C (Business to consumer) segments.
As
the Vice President of Sales for Wipro laptops, you are required to come out
with a sales management strategy covering sales methodology and budgeting:
a.
Out of the 5 theories of buying namely AIDAS, Buying Formula theory, Behavioral
equation theory SPIN, and Right set of circumstances theory, which would be
used by you to build a sales methodology for Wipro laptops? Please justify your
choice of methodology (5 Marks)
Ans 3a.
Introduction:
Behavioral
scientists and marketing teachers conducted much research to determine whether
selling is an art or science, and several hypotheses have been produced to
explain the customer-seller buying system. Based on several theories, it is
viable to view the method of persuasion from four different perspectives.
Concept and application:
b.
Out of the top-down and bottom-up methodology for setting budgets which of them
would be used by you for the Wipro laptops division and why? (5 Marks)
Ans 3b.
Introduction:
A
sales price range is the estimated variety of devices and capability income a
company expects to sell over a particular length. Corporations typically degree
this on a monthly, quarterly, or annual basis. While forecasting a sales price
range, groups do not forget variables, including past sales trends, rival
activity, and current or predicted financial situations.
Concept and application:
There
are many strategies to manipulate a company’s budget, but maximum fall into one
of two classes: either the usage of a bottom-
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Do
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