Sales marketing management combines creating strategies and sales elements that allows for the revenue targets of an organization to be met. It involves setting up strategies for product development, pricing and sale of products. Analysis and forecasting of sales is another technique used in sales marketing management. Here are a few tips on sales marketing management.
It is essential to understand the market before developing any strategies for sales marketing management.
You may use desk, quantitative and qualitative research techniques. Desk research involves conducting research by using existing documents filed in the organization or search engines.
Quantitative research involves getting to know more about your market via questionnaires and sampling.
Qualitative research involves using focus groups for data collection, branding and other research to obtain information relating to intended target. Once you know your market, a sales marketing management strategy will have details on how to fully penetrate the market. And make the most of your market research.
Get technical support for your product. Establish service and customer care outlets for your customers.
Develop quality control strategies for your product. Good sales marketing strategy will have in mind the value of relationships with customers. Effective sales marketing management should ensure that you develop a customer service practices that your customers remember you for. Build a reputation for your brand by how you treat your customers.
Distribution strategies are another process in the sales marketing management chain. Carry out research on how effective your distribution chain is. Study and analyse distribution systems like mail order, retail distribution, electronic commerce and wholesaling before you come up with a suitable decision. The strategy will also be closely related to various aspects of distribution like pricing and promotions. Remember that the market changes often so review you strategy regularly to make sure you strategy is always in line with the market.
Sources and Citations
Pricing is a major factor in your sales marketing management strategy succeeding. Price should be determined by using unit costs of production and feedback information form you user on how much your product should go for. Find out how much customers think your product should go for using market surveys and interviews. Ask for crucial information on the quality of product and how much value they attach to your product. Set prices at amounts deduced from the results of your research. However be very careful not to set the price too low and make the investment not viable.
Growth is another important aspect in your sales marketing management strategy. The growth aspect should include details of how you intend to increase human resource, expand the business or even buy out an existing business. Or even creating a parallel line of products, which offers you the flexibility of supplying the same product with different qualities in different levels of the market.
However remember not to rest on your laurels once success comes your way. Keep you sales marketing strategy up to date and eliminate the risk of becoming obsolete in the market.