How to Develop a Sales Strategy and Management Plan for Your Business

Assignment Task

Introduction

• What is this report about?
• Structure of the report

Background Analysis Part A (Industry, Competitor and Consumer)

 Industry Analysis

Firstly, you should gather information on the industry as a whole. For example:

• What is the size of the industry?
• What are the recent trends in the industry?
• What is the industry potential? E.g. Growth rate, industry life cycle, etc.
• Any information about the industry that could be useful for your decision-making

Competitor Analysis

Now you need to determine who are the main competitors in the industry. For example:

• Who are the key players?
• How do the main competitors differentiate themselves in the marketplace, i.e. what is their positioning strategy?
• What are the most common forms of Sales Approaches among the main competitors

Consumer Analysis

Now you need to provide a description of the consumer market associated with the product category. For example:

• Who are they? (e.g. their demographic, psychographic, geographic and behavioural characteristics)
• What are the issues facing consumers of this product category?
• What are the factors important to consumers when making the purchase/consumption decisions in this market?
• Are they influenced by others? Do they make the purchases themselves?
• Are there particular consumer needs not being met in the current marketplace?

Background Analysis Part B (Sales Approach and Sales Management)

Sales Approach Analysis

This section should include the following points:

• Strengths and weaknesses of the current Sales Approach of your chosen company.
• The focus of the current Sales Approach and the company’s profitability because of this approach.
• Sales Approach (you can consider thinking about the following concepts if applicable, Consumer Roles in the Buying Process, Consumer Decision-Making Process, Sales Cycle, Sales Tactics and Influences (B2C), Sales Tactics and Influences (B2B), Direct Selling, Cross Selling and Up Selling, Customer Strategy, Sales Methodology).

Sales Management Analysis

This section should include the following points:

• Strengths and weaknesses of the current Sales Management strategy of your chosen company.
• The focus of the current Sales Management strategy and the company’s profitability because of this strategy

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