High Competition in Current Market - Essay Sample

Paper Type:  Essay
Pages:  4
Wordcount:  947 Words
Date:  2022-12-09

Introduction

In the current market, there is high competition making every business organization strive to become the market leader. This can only happen for companies that have effective sales approaches that they use to overcome their competitive challenges. These sales approaches that the companies use has various components that make them achieve the marketing goals of an organization.

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Components of a Company's Sales Approach

A sales approach of a company must have a set realistic, clear goal that the organization intends to achieve. The company that understands its goals and set milestones that allow it to achieve such goals has a distinct advantage over other companies in a competitive market. The company must also have a clear plan of all the marketing activities it wants to implement alongside the set objectives that are capable of satisfying the marketing goals of the business organization (Dannenberg & Zupancic, 2009). The company should also focus on a defined target audience which it wants to communicate to or address its customer needs. It is the best strategy that can help the company attract loyal customers for other companies producing the same set of products. Primarily the company should target customers that have an interest in its products. The choice of more responsive customers the number of people who seek to buy your products. The sale approaches must also be well planned and budgeted appropriately (Albee, 2015). This makes the sales approach to become successful because it makes the company achieve its set goals. An effective sales approach operates effectively when it has a proven budget as this help in cost saving and also fosters effective implementation of the marketing plan. (Albee, 2015). The best sales approach must also put in practice complementary marketing tactics and take into consideration marketplace awareness. This makes sales strategy to work more effectively when there is the incorporation of integrated marketing campaigns which is capable of evolving about the outcome of a sales campaign analyzed.

Evaluation of Sales Plan About a Particular Marketing Content

The sales plan is very useful to the specific content of marketing such as marketing campaigns. It is used in developing marketing strategies which as essential in enhancing the achievement of the marketing goals of the organization. Sales plan ensures that the company managers think ahead and take into consideration the effect of promotional activities on the company sales and public image. Without a proper plan dominant business idea do not succeed, and therefore it is the sales plan that drives creativity and fosters the achievement of all the sales target. Also, a sales plan is essential in formalizing business ideas such as introducing or launching a new product line in the market (Dannenberg & Zupancic, 2009). Through its use, the sales managers can spot areas which they have not considered in the past to help the company create a perfect thing for the business. Furthermore, it ensures that the activities executed when implementing given marketing are done within the required timelines or scale. Finally, it is essential in ensuring that the sales activities are financed appropriately by providing the correct amount is allocated to the right marketing activity.

Proposed Changes to A Sales Plan

In the sales plan, some changes must be updated to ensure that the business organization achieves its marketing objectives. For the company to succeed, it must change its goals to ensure they are specific and measurable to what the company seeks to achieve. The change of the organizational goal will make the company increase its customer base and also make more customer loyal to the company's products. It is also necessary for the company to change its target audience to focus on young people and women. This is because young people and women are the majority of the population and embracing their interest is likely to increase sales volume and revenue of the company. The company should also change some of its sales activities to suit the target audience. It is essential for the company to improve sales presentation. For the business to attract youths and women, it needs to present its product colorfully and attractively. Finally, it should also ensure that the sale plan has a unique closing technique (Dannenberg & Zupancic, 2009). It must be the one which that allow the business to win the deal such as the provision of a discount of 25% after buying the product in cash.

The Effect of a Sales Plan on the Implementation of a Sales Strategy

The sales plan is essential during the execution of a sales strategy. A sales plan provides a set of activities that are used when implementing a sales strategy; it, therefore, outlines what the business organization must do or execute to achieve its marketing goals. Also, it specifies the time that the organization should take to complete each activity required when implementing a sales strategy (Albee, 2015). As a result, it ensures that the sales strategy is performed within the required timelines. It, therefore, increases the efficiency at which the implementation process continues and also makes the organization to implement sales strategy within the predetermined budget.

Conclusion

It is therefore essential for a business organization to have a good sales plan with components such as value, strategic goals, a right target audience, and marketplace awareness. These elements of a sales approach are effective in meeting the organizational goals of marketing. The effectiveness of a sales plan is also many. It ensures that the organization uses its resources effectively, and also it provides the organization operates within its timelines.

References

Dannenberg, H., & Zupancic, D. (2009). The interrelationship of marketing and sales strategies. Excellence in Sales, 37-57. doi:10.1007/978-3-8349-8782-2_4

Albee, A. (2015). Marketing-to-Sales Relationship Architecture. Digital Relevance, 181-186. doi:10.1057/9781137452818_32

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High Competition in Current Market - Essay Sample. (2022, Dec 09). Retrieved from https://proessays.net/essays/high-competition-in-current-market-essay-sample

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