Give definition of following terms: 1. Retailing 2. Sales forecasting 3. Logistics 4. Sales budget 5. Channel Information System 6. Territory Planning 7. Personal selling
Define selling and sales management. Narrate essential qualities of a salesperson and a sales manager.
[7 marks]Define sales territory? What major factors do organizations consider while designing sales territories?
[7 marks]Why ‘Approach’ and ‘Pre-approach’ are essential steps in selling process? Prepare a checklist for ‘Pre-approach’ and briefly describe approach techniques.
[7 marks]Discuss the various types of compensation plans used for compensating salespeople. Which plan will be suitable for compensating an insurance agent? Justify.
[7 marks]Explain sales quota & its objectives? What are the various types of sales quotas?
[7 marks]What are the functions of a retailer? Explain the latest trends in retailing in India?
[7 marks]What is Channel Design? How do you carry our Segmentation, Positioning and Targeting in Channel Design?
[7 marks]What is warehouse? Discuss advantages & classifications of warehouse.
[7 marks]What are the different modes of transportation? What considerations weigh in the selection of particular mode of transportation?1
[7 marks]What is logistics Management? Define its scope and objectives.
[7 marks]Define Routing and Scheduling. Explain common routing patterns with its importance. Q.5 ABC Cooling LTD is one of the leading brand in Air conditioners. The General Manager (Sales) in the budget meeting held in first quarter of 2022 at Ahmedabad said that the company’s sales forecast for the year 2022 – 2023 will be 10000 numbers of Air conditioners. “For determining the company’s sales budget, we also need the information about market segments, such as the share of household and institutional customers as well as that of rural and urban markets. Production function would like to know product type share between normal AC and Inverter AC, as well as different sizes from 1 tons to 2 tons, and power ratings. These figures are absolutely essential for working our marketing and production plans, and thereafter, overall company’s budget for the year 2022 - 2023,” intervened Mr. V, President of ABC Cooling LTE, before Vice president (Sales and Marketing) could say something. Mr. C. responded, “yes, we can estimate the break-up of total numbers of air conditioners into product types and sizes, as well as market segments, but we have to first decide whether our sales budget would be equal to or lower than the sales forecast.” “Ithink, before we take that decision, we would like to know how accurate your sales forecast is, and which forecasting method have you used,” asked Vice President (Sales and Marketing). “Well, the method used by us was moving averages and the accuracy of our sales forecasting is good for short-term forecasting with stable market conditions and availability of historical data,” said a confident Mr. C.
What are the various ways with the help of that company can segment the various territories?
[7 marks]Do you agree that “Sales forecasting method used in the present case is sufficient?” Justify your answer.
[7 marks]What do you suggest to improve the accuracy of the sales forecast and to get the break-up of the sales forecast into product types and sizes?
[7 marks]Should the company’s sales budget be lower, higher, or equal to the sales forecast and why?
[7 marks]