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.
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.
MMPM 002 Solved
Assignment 2023-24, MMPM 002 Solved Assignment 2023-24, MMPM 002 Solved Assignment
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