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A &no+le,g!ent
#ords are indeed inade$uate to "on%ey my deep sense o& gratitude to a'' those (ho ha%e he'ped me in "omp'eting this assignment to the best o& my abi'ity. ) am rea''y than &u' to a'' the 'e"turers o& !*)M &or ma ing a'' ind o& arrangement to "omp'ete this assignment su""ess&u''y and guiding and he'ping me to so'%e a'' inds o& $uarries regarding the assignment. +eep sense o& gratitude goes to them &or their "ommitment and dedi"ation. As a student o& PG+ip 'e%e' 2, ) (as ab'e to get more no('edge and e-perien"e throughout the study. .han s to my "o''eagues (ho e-"hange their e-perien"e and %ie(s to de%e'op my assignment. *ast but not 'east ) (ou'd 'i e to than a'' the emp'oyees o& !*)M Matara /ran"h (ho ha%e dire"t'y and indire"t'y he'ped me (ith their mora' support &or the "omp'etion o& my pro0e"t. ) (ou'd 'i e to than to my &ami'y members &or gi%ing me &ree time &or my &urther edu"ation.
To Fro! Date
9 9 9
.he /oard o& +ire"tors : Apo''o .yre Manu&a"turing Company 1P%t2 *td. Nationa' !a'es Manager !a'es 6or"e Management 28th ;"tober, 201<
Sub/e t 9
'ntro,u tion
Apo''o .yre Manu&a"turing Company 1P%t2 *imited, is one o& the pioneer tyre manu&a"turer and distributor in the "ountry (ith an o%er 20 years re"ord o& e-"e''en"e and "ustomer "on&iden"e.
.he Company began its operations in the mid nineties in the "apita' "ity. !in"e then it has e-tended its operations throughout the is'and and has a %ery 'oya' "ustomer base (hi"h has been the resu't o& good "ustomer "are.
/eing a manu&a"turer o& high $ua'ity tyres, the Company has the strategi" ad%antage o& passing on the e"onomi" bene&its o& their "ustomers by (ay o& mar et "ompetiti%e pri"ing !trategy.
.hough the "ompany name pre%ai's o%er 2 de"ades the mar et share o& the "ompany re"ords 134 due to hea%y "ompetition o& internationa' brands. Present /oard o& +ire"tors de"ided to e-pand the sa'es operation by strengthening &ie'd net(or and in"rease the mar et share &rom 134 to 234
6o''o(ing is the report &or the !a'es &or"e de%e'opment o& the "ompany &or ne-t 2 years and to "reate !pe"ia'i5ed !a'es &or"e to dominate the mar et to a"hie%e the "ompany targets.
*e%erage .e"hno'ogy
Proper use o& in&ormation and "ommuni"ation te"hno'ogies "an he'p sa'es peop'e to per&orm their 0obs more e&&e"ti%e'y and e&&i"ient'y. .he ey tas is to se'e"t the right te"hno'ogy and ensure that it is used in the appropriate manner. @ear are the &a%ourite $uote about the !a'es Managers >!a'es is essentia''y a ta'ent dri%en o""upation? >#or'd "'ass sa'es organi5ations hire the best peop'e and engage them? Benson Smit E**e ti-e Sales Manager0s 1ob Fun tion in to,a.0s +orl,
.he sa'es are "arried out by di&&erent sa'es persona's. @en"e, a sa'es manager is re$uired to monitor the gro(th o& sa'es, a"hie%ement target in time, "oordinate %arious sa'es a"ti%ities and "ontro''ing the sta&& to per&orm as e-pe"ted by the "ompany. !a'es 0ob in%o'%es 'ess (or at the o&&i"e and more (or in the &ie'd. A good sa'es manager shou'd be ab'e to understand the prob'ems (hi"h the emp'oyees are &a"ing and he'p in so'%ing them. !a'es manager (ou'd beha%e 'i e a team member and he'p in 'eading the team to rea"h the targets and demonstrate 'eadership. !a'es manager has to &ind any training re$uirements &or the team and he'p to be pro%ided (ith the same. .he "ha''enge is to et". .he ro'e o& an e&&e"ti%e sa'es manager (ou'd be Ana'y5e the mar et and &ormu'ate sa'es p'an a""ording to the "ompany re$uirement. !etting up ;b0e"ti%es, Po'i"ies, !trategies and P'ans &or the sa'es &or"e. ;rgani5e and sta&&ing the sa'es &or"e and 'eading them to e-e"uting the sa'es p'an. 6a"i'itating proper "ommuni"ation "hanne's to ensure the imp'ementation o& the sa'es program. Anderstanding prob'ems and needs o& the emp'oyees and he'p in reso'%ing them. Keep up the moti%ationa' 'e%e's and bui'd enthusiasm o& sa'es &or"e a'' the time )denti&ying deBmoti%ating &a"tors and e%a'uate the sa'es &or"e per&orman"e. Gro( and de%e'op sa'espeop'e by identi&ying training needs and emphasising "ontinuous 0ob impro%ement and "areer de%e'opment eep up the moti%ation 'e%e's o& his emp'oyees and to indenti&y the moti%ationa' &a"tors 'i e in"enti%es, re"ognitions, a(ards
De*inition3 Persona' !e''ing is de&ined as persona' "ommuni"ation (ith an audien"e through paid persona' o& an organi5ation or its agents in su"h a (ay that the audien"e per"ei%es the "ommuni"ator=s organi5ation as being the sour"e o& massage. Ingram! Lafroge ""2##$% Sales Management &nalysis and decision making' 6 t edn' India: Cengage Learning' pp 1(
A,-antages o* 2ersonal Selling a) 6'e-ibi'ity in de'i%ering the message )& the "ustomer doesn=t understand the message "on%eyed, then the message "an be modi&ies and "on%eyed to the "ustomer again. !in"e a sa'es person intera"ts (ith one potentia' "ustomer at a time the messages "an be tai'ored and de'i%ered as per the "ustomer needs. b2 8&&i"ient (ay o& "ommuni"ation Persona' se''ing is a t(o (ay "ommuni"ation pro"ess (hi"h he'ps e&&i"ient dia'ogue bet(een "ustomer and the sa'es representati%e. )t (ou'd be easy to no( (hether the "ustomer has rea''y understood the "ommuni"ated message about the produ"t. .he immediate &eedba" (ou'd he'ps to no( (hether the sa'es approa"h is (or ing or not and to "hange the approa"h a""ording'y. "2 /ui'ding 'ong term re'ationships Persona' se''ing has an added ad%antage in bui'ding 'ong 'asting re'ationships. d2 /etter a""ess to %arious target segments Persona' se''ing (ou'd he'p to rea"h out to the %arious "ustomers. )& the "ompany dea's (ith /2/ mar ets, persona' se''ing (ou'd be a better "ommuni"ation too' than ad%ertising or sa'es promotion. e2 Comp'e- in&ormation de'i%ery Comp'e- in&ormation 'i e te"hni"a' &eatures o& the produ"t "an be "on%eyed easi'y in "omparison to other "ommuni"ation too's.
Cost per sa'e p'ays an important ro'e in persona' se''ing and it (i'' be mu"h higher than other se''ing strategies b) Misunderstanding by the "ustomer Many peop'e pre&er to buy the produ"t &rom a store rather than buying it &rom a sa'es representati%e. .hese "ustomers might ha%e bad e-perien"e o& sa'es peop'e in the past and determined not to buy any produ"t &rom them. Fi-e 2ersonal Selling Strategies .here are &i%e persona' se''ing strategies app'ied in sa'es and distribution se"tor. 1. Sti!ulus Res%onse A%%roa 4 Selling .he ey idea is that %arious stimu'i "an e'i"it predi"tab'e response. !a'es peop'e &urnish the stimu'i &rom a repertoire o& (ords and a"tions designed to produ"e desired response. An e-amp'e o& the stimu'us response %ie( o& se''ing (ou'd be "ontinued a&&irmation, a method in (hi"h a series o& $uestions or statements gi%en by the sa'esperson is designed to "ondition the prospe"ti%e buyer to ans(ering CyesC time a&ter time, unti', it is hoped, they (i'' say CyesC to the entire sa'es proposition.
2. Mental State Selling Menta' !tate Curiosity )nterest Con%i"tion !a'es !tep Attention )nterest Con%i"tion Criti"a' !a'es .as Get prospe"t e-"ited, then you get them to 'i e you )nter%ie(9 needs and (ants >#hat=s in it &or meD? Produ"t : >(i'' it do (hat ) (ant it to doD? Pri"e : >)s it (orthD? the hass'e o& "hange? "heaper e'se(here? Peers : >(hat (i'' others thin o& it? +esire A"tion +esire C'ose Priority : >+o ) need it no(D? 1 !ense o& urgen"y2 ;%er"ome their sta'' A'ternate "hoi"e "'ose9 (hi"h, not i&E
Most buyers are essentia''y identi"a' and that buyers "an be 'ed through "ertain menta' states, or steps, in the buying pro"ess. .hese menta' states are typi"a''y re&erred to as A)+A. .he menta' states approa"h re'ies on high'y stru"tured sa'es presentation. .he sa'esperson does most o& the ta' ing, as &eedba" &rom the prospe"t "ou'd be disrupti%e to the &'o( o& presentation. 3. Nee, Satis*a tion Selling Need satis&a"tion se''ing is based on that "ustomer is buying to satis&y a parti"u'ar need or set o& needs. !a'es person=s tas is to identi&y the need to be met, then to he'p buyer meet the need. )n this sa'es program "ompany (i'' be se'e"ting the need satis&a"tion se''ing method to &u'&i'' "ustomer re$uirement. 4. 2roble! Sol-ing Selling .his approa"h typi"a''y re$uires edu"ating the "ustomer about the &u'' impa"t o& the e-isting prob'em and "'ear'y "ommuni"ating ho( the so'ution de'i%ers signi&i"ant "ustomer %a'ue. 5. Consultati-e Selling .he pro"ess o& he'ping "ustomer rea"hes their strategi" goa's by using the produ"ts, ser%i"es, and e-pertise o& the se''ing organi5ation.
Consu'tati%e se''ing is the pro"ess o& he'ping "ustomers rea"hes their strategi" goa's by using the produ"ts, ser%i"es, and e-pertise o& sa'es organi5ation. Ingram; Laforge Sales Management analysis and decision making 6 edn India: Cengage Learning pp 26-)#
10
;ut o& these 3 persona' se''ing strategies, it is re"ommended to use Need !atis&a"tion !e''ing method &or Apo''o .yre Company. )n this method sa'es person in%o'%es to un"o%er "ustomer needs that are re'ated to the produ"t or ser%i"e o&&ering. !in"e the "ompany basi" produ"ts are tyres, it is %ery important to ha%ing better understanding about tyre industry, di&&erent tyre produ"ts, te"hno'ogy, "ompetitor pri"es, (arranties, dis"ounts, "redit terms et"F Company di%ide it sa'es &or"e to three departments su"h as Retai', Corporate and Go%ernment. A'' three segment "ustomers (i'' ha%e to meet persona''y and to se'' the produ"ts. .yre produ"ts are not 'i e 6MCG. )t is needed to parti"u'ar segment (ho are using %ehi"'es. .he need "an be arouse &rom indi%idua' or institute. )ndi%idua' may need a tyre &or his %ehi"'e or organi5ation may need tyres &or their %ehi"'es. #hate%er the person (ho buy the tyres se%era' &a"tors are "onsidered, !i5e !a&ety +urabi'ity #arranty Credit terms
A&ter "on&irming the buyerGs needs, the sa'es person pro"eeds (ith a presentation based on ho( the o&&erings "an meet those needs. .he responsibi'ity o& e&&e"ti%e sa'es person is rea"h the "orre"t "ustomers, un"o%er his need o& tyres and present %arious o&&ering to satis&y their needs. @e shou'd "ontinue se''ing unti' pur"hase de"ision is ta en.
11
+etermines annua' sa'es targets by imp'ementing mar eting strategiesH ana'y5ing trends and resu'ts.
+e%e'oping annua' and midterm sa'es p'ans &or regions and territoriesH pro0e"ting e-pe"ted sa'es %o'ume and pro&it &or e-isting and ne( produ"ts.
)mp'ements nationa' sa'es programs by de%e'oping spe"ia'i5ed sa'es &or"e. Maintains sa'es %o'ume, produ"t mi-, supp'y and demand, "hanging trends, e"onomi" indi"ators, and "ompetitors.
*eading and moti%ating the sa'es team and through the imp'ementation o& a business de%e'opment strategy, KP)Gs and "ontro's, ma-imi5e produ"ti%ity.
Maintains nationa' sa'es &or"e by re"ruiting, se'e"ting, orienting, and training. Maintains nationa' sa'es &or"e 0ob resu'ts by "ounse'ing and dis"ip'ining emp'oyeesH p'anning, monitoring, and appraising.
!hou'd be ab'e to Meet !a'es Goa's (hi'e moti%ating sa'es team, /ui'ding Re'ationships (ith sta e ho'ders, Coa"hing, Managing Pro"esses, Mar et Kno('edge, !a'es p'anning and +e%e'oping /udgets
.he !a'es Manager (i'' ha%e to abi'ity to "reate and maintain strong re'ationship (ith "orporate "'ients. .his is a"hie%ed by app'ying a "onsu'tati%e, &'e-ib'e and "reati%e sa'es pro"ess.
Getting the %ery best &rom a sa'es team (hi'st 'iaising (ith other department to ensure business potentia' is ma-imi5ed and gro(th a"hie%ed.
Rs.2000,000JB Rs.300,000JB
13
.it'e *o"ation
Assistant !a'es Manager 1 A!M2 Retai'er Corporate Go%ernment B#est region 1/ased on Kandy Regiona' o&&i"e2 B!outh Region 1 /ased on Ga''e regiona' ;&&i"e 2 B @ead o&&i"e B @ead ;&&i"e
+epartment Reports to
Gi%ing proper guidan"e to the !a'es 8-e"uti%es 6ami'iarity (ith sa'es, territory management, and 'ead generation !trong goa' atta"hment and a proa"ti%e approa"h to prob'em so'%ing 8-"eptiona' time management s i''s Abi'ity to moti%ate and 'ead a team +e%e'op to 'ongBterm re'ationships (ith senior management
Abi'ity to (or (e'' under pressure (ith a dead'ines and ha%ing positi%e attitude and interpersona' s i''s
8-"e''ent "ommuni"ation and ;rgani5ationa' s i''s Abi'ity to intera"t (ith sta&& members at a'' 'e%e's (ithin the "ompanyH Abi'ity to hand'e sensiti%e sta&& issues both "on&identia''y and pro&essiona''yH and Must ha%e (ritten and %erba' &'uen"y in 8ng'ish
Rs.1000,000JB Rs.230,000JB
B @ead ;&&i"e
SE 7 Entr. Re8uire!ent
6u''y or part'y $ua'i&ied Post Graduate +ip'oma in Mar eting 1 PG+ip M 2 at !*)M and or
Any other /usiness Management +ip'oma or re'ated dis"ip'ine, and pro&essiona' sa'es training (ou'd be a distin"t ad%antage
Minimum o& < years o& su""ess&u' sa'es e-perien"e in the &ie'd o& tyre industry 6ami'iarity (ith sa'es, territory management, and 'ead generation !trong goa' atta"hment and a proa"ti%e approa"h to prob'em so'%ing 16
8-"eptiona' time management s i''s !e'& moti%ated, Positi%e attitude and interpersona' s i''s +e%e'op 'ongBterm re'ationships (ith senior management .o be ab'e to (or (ith 8ng'ish 'anguage
Rs.300,000JB Rs.100,000JB
17
Target Distribution a!ong Assistant Sales Managers De%art!ent Retai'er Corporate Go%ernment Designation A!M 1 A!M 2 A!M < A!M 7 Total Mont4l. Target T.re )nits 6,000 6,300 6,700 3,600 29:;00 Annual Target T.re )nits I2,000 I8,000 I6,800 6I,200 2<9:000
Target ,istribution a!ong Sales E$e uti-es De%art!ent Designation No o* Sales E$e uti-es 12 1< 8 8 9" Mont4l. Target T.re )nits 300 300 800 I00 2:;00 Annual Target 2er E$e uti-e T.re )nits 6,000 6,000 M,600 8,700 29:;00 Total Annual Target T.re )nits I2,000 I8,000 I6,800 6I,200 2<9:000
Retai'er
Corporate Go%ernment
Retai'er
23
8 8 9"
*orryJ.ru" Car J Kan @ea%y Kehi"'es *orryJ.ru" Car J Kan @ea%y Kehi"'es
.ota' annua' produ"tion o& ea"h .yre "ategories (ou'd be, 2ro,u t Catoger. *orry J .ru" .yres Car J Kan .yres @ea%y Kehi"'e .yres Total Annual )nit o* 2ro,u tion M8,700 11I,600 I8,000 2<9:000
23 8 8
*orryJ.ru" Car J Kan @ea%y Kehi"'es *orryJ.ru" Car J Kan @ea%y Kehi"'es *orryJ.ru" Car J Kan @ea%y Kehi"'es
Total
9"
29:;00
>02:000:000
Annual Sales 'n o!e /ased on the Month'y in"ome &o''o(ing are the Annua' sa'es )n"ome, De%art!ent No o* E$e u ti-es 2ro,u t T.%e Cost %er T.re unit Annual Target T.re )nits 60,000 60,000 <0,000 1M,200 28,800 28,800 1M,200 28,800 1M,200 2<9:000 Total Annual Sales 'n o!e
23 8 8 9"
*orryJ.ru" Car J Kan @ea%y Kehi"'es *orryJ.ru" Car J Kan @ea%y Kehi"'es *orryJ.ru" Car J Kan @ea%y Kehi"'es
1,800,000,000 1,200,000,000 1,200,000,000 3I6,000,000 3I6,000,000 1,132,000,000 3I6,000,000 3I6,000,000 I68,000,000 ?:929:000:000
20
8-e"uti%es Total
71 9A
<0,000
1,2<0,000 ":<#0:000
17,I60,000 2#:"A0:000
Company (i'' pro%ide Motor Car to !a'es manager 7 Assistant !a'es managers Company (i'' pro%ide Motor Cy"'es to 71 8-e"uti%es )n addition to Company pay Kehi"'e Maintenan"e "harges N 6ue' a''o(an"es to the respe"ti%e !a'es Persona'
!a'es Manager Car Assistant !a'es managers : Car 8-e"uti%es Motor Cycles Total
01 07 71 9A
21
@ !a'es Manager A!M 1)2 Retai'er !a'es 8-e"uti%es A!M 1))2 Retai'er !a'es 8-e"uti%es A!M 1)))2 Corporate !a'es 8-e"uti%e A!M 1)K2 Go%ernm !a'es ent 8-e"uti%e Total 01 01 12 01 1< 1 8 1 8 9A No
2er 4ea,
0.34 168,000,000 17,000,000 <4 0.34 182,000,000 17,000,000 <4 0.34 1M2,000,000 27,000,000 <4 0.34 160,000,000 20,000,000 <4 >02:000:000
*odging (i'' be paid (ith a ma-imum 'imit o& 8 days outing per month Ma$i!u! Li!it o* Lo,ging %er ,a. 10,000 6,000 2,300 Cu,gete, Lo,ging %er !ont4 80,000 1M2,000 820,000 ":0<2:000 Total Cu,gete, Lo,ging %er Annu! M60,000 2,<07,000 M,870,000 "#:"09:000
Designation
Tele%4one E$%enses
Mobi'e /i''s (i'' be paid by the "ompany (ith a ma-imum 'imit Designation !a'es Manager Assistant !a'es Manager !a'es 8-e"uti%e Total Ma$i!u! 24one Cill Allo ate, 2er Li!it !ont4 An'imited 10,000 I300 <0,000 7000 167,000 209:000 Allo ate, %er Annu! 120,000 <60,000 1,M68,000 2:99?:000
'nsuran e
!ta&& (i'' "o%er by Persona' A""ident Co%er as (e'' as !urgi"a' and @ospita' Co%er Designation 2ersonal A i,ent Co-er 2000,000 1000,000 300,000 E$%e te, Cost %er Annu! 2000
"2###,--1%
6000
"1.##,--/%
I0000
"1$.##,--/%
31230
"12.#,--/1%
710,000
"1#!###,--/1%
;<:2;0
;";:000
!urgi"a' and @ospita' )nsuran"e Co%ered entire &ami'y (ith ;P+ bi'' payment. )n addition to this, Annua' /onus (i'' be paid based on the "ompany pro&it.
23
Company (i'' remain M2.<84 /a'an"e in"ome (hi"h is about Rs.1,16I Mi''ion
24
Re"ruitment pro"ess is %ery important to the "ompany to se'e"t right "andidates and short 'ist them &or the inter%ie(. .he "andidates "an "ome &rom many sour"es as, )nterna' !our"es )denti&ying emp'oyees (ithin the "ompany 8-terna' !our"es Candidates "an be se'e"ted &rom outside the "ompany
Karious parameters use &or re"ruitment pro"ess "andidates &ami'y ba" ground, emp'oyment history, edu"ationa' $ua'i&i"ations,
2reli!inar. 'nter-ie+
)s a pro"ess to &i'ter the "andidates (ho do not &it &or the 0ob 8%a'uate the "andidate=s s i'' as per the 0ob des"ription Attitude, "ommuni"ation s i''s and ana'yti"a' s i''s are %ery important Pre%ious (or e-perien"es and re&eren"es shou'd be "ross "he" ed
Training
.raining is an a"ti%ity to deri%e the best possib'e e&&orts &rom an emp'oyee that "ontributes su""ess&u''y to the per&orman"e o& a 0ob in an organi5ation.
25
Training 2rogra! Ob/e ti-es .o ma e sa'es peop'e tota''y &it &or the 0ob .o moti%ate them to impro%e their sa'es produ"ti%ity and earn pro&its &or the organi5ation Create positi%e attitudes and impro%e sa'es personne' mora'e
6o''o(ing are the proposed training program &or the !a'es 6or"e .e"hni"a' training &or the !a'es 6or"e regarding .yre manu&a"turing and its .e"hno'ogies Customer Care .raining &or the !a'es !ta&& as (e'' as support sta&& Positi%e thin ing and Grooming session &or the sa'es sta&& .ime management and produ"ti%ity impro%ement session ;n the 0ob training &or the 0unior 8-e"uti%es (ith Assistant !a'es Managers and !enior 8-e"uti%es
6o''o(Bup and e%a'uation dea'ing (ith ana'y5ing the $ua'ity o& training program he'd and the bene&it re"ei%ed by the "andidates and the organi5ation need to be "ondu"ted
Moti-ation
!a'es Manager=s ma0or responsibi'ity is to eep up moti%ation 'e%e' o& the !a'es 6or"e to get 1004 a"hie%ement. .here are many de&initions and (e ha%e se'e"ted &o''o(ingH
Moti-ational *a tors
Co!%ensation s 4e!eE %a &age ;ne o& the most attra"ti%e and en"ouraging &a"tor &or moti%ation is the "ompensation pa" age &or sa'es sta&&. ;rgani5ations tend to pu'' in the best ta'ent by o&&ering e&&e"ti%e "ompensation pa" ages. 6i%e step approa"h in designing a sa'es "ompensation pa" age as, a) Prepare 0ob des"riptions Oob des"ription shou'd be prepared to ta e "are o& a'' the 0ob responsibi'ities that the sa'es representati%e (i'' per&orm. b) 8stab'ishing sa'es and other ob0e"ti%es @igh'ight the importan"e o& measuring the sa'es targets a"hie%ed and a'so other ob0e"ti%e in determining the "ompensation pa" age. Number o& ne( "ustomers in"reased, +i&&i"u'ty 'e%e's in the sa'e ha%e to be ta en into a""ount. c) +etermine appropriate genera' "ategories !e%era' &a"tors 'i e edu"ation, e-perien"e, s i'', nature o& (or re"ei%e the same "ompensation pa" ages. d) +e%e'op and pretest the "ompensation p'an 27 (i'' ha%e to "onsider. .his pro"ess (i'' he'p to a'ign the peop'e o& simi'ar abi'ities or s i''
Compensation pa" age shou'd &o"us the 'i%ing e-penses and the %ariab'e "omponent 'i e "ommissions. e2 )mp'ement and e%a'uate the p'an imp'ementation and monitoring the e&&e"t o& the "ompensation pa" age in maintaining the re$uired moti%ation 'e%e' and attra"ting the ta'ented peop'e to the organi5ation
'n enti-es
!o many in"enti%es s"hemes ha%e been proposed to eep !a'es 6or"e moti%ation 'e%e' up. !ome o& the in"enti%es are, Kehi"'e J Motor Cy"'e pro%ide by the "ompany 6ue' Consumption and Maintain (i'' be ab'e to reimbursement Commission (i'' be paid on target a"hie%ement 6ood and *odging "harges (i'' be ab'e to reimbursement Mobi'e phone bi''s (i'' be ab'e to reimbursement )nsuran"e su"h as Persona' A""ident Co%er J Medi"a' Co%er is in &or"e
Co!%ensation
.here are se%era' "ompensation pa" ages using to moti%ate sa'es sta&& Finan B B B ial Co!%ensation Straig t Salary : A'' the !a'es !ta&& re"ei%e 6i-ed !a'ary Commission Commission (i'' be paid &or dire"t'y in%o'%ed !a'es Persona' Commission 0ase Commission has been based on the A"hie%ement Commission rate Attra"ti%e Commission rate has introdu"ed 1erformance Bon2s Pear end /onus (i'' be paid based on "ompany pro&it
Non Finan ial Co!%ensation ;pportunity &or Promotion Company has @uman Resour"e P'an that opportunity &or promotions. !ense o& A""omp'ishment Company (i'' introdu"e Annua' sa'es Con&eren"e to re"ogni5e best a"hie%ers ;pportunity &or Persona' Gro(th 28
Company has is'and (ide net(or o& sa'es &or"e. .here (i'' be great opportunity to persona' gro(th Re"ognition Company brand has %ery good re"ognition in the mar et. 8mp'oyee may use "ompany brand %a'ue &or their re"ognition. Oob !e"urity 8%ery emp'oyee has &i-ed sa'ary and attra"ti%e in"enti%es. .heir 0ob se"urity is %ery high. 6ringe /ene&its Company (i'' pro%ide 'o"a' and o%erseas training to the best a"hie%ers. Annua' trip (i'' be organi5ed (ith a'' sta&& and their &ami'y members
Re+ar,
Company (i'' pro%ide an a""eptab'e ratio o& "osts and sa'es &or"e output in %o'ume to the sta&& as re(ard 8n"ourage spe"i&i" a"ti%ities su"h as a"hie%ing o%er 1004 target (i'' re"ei%e spe"ia' re"ommendation !pe"ia' remuneration (i'' be ab'e to attra"t and retain "ompetent sa'espeop'e
2er*or!an e E-aluation
Company (i'' be "arried out appraisa' in t(o times per annum as year and midyear basis. .his (i'' e%a'uate and en"ourage sa'es sta&&. '!%ortan e o* 2er*or!an e E-aluation .o ensure that "ompensation and other re(ard disbursements are "onsistent (ith a"tua' sa'esperson per&orman"e Management "an identi&y the sa'es te"hni$ues @e'ps in !a'es !uper%ision .o pro%ide in&ormation &or e&&e"ti%e human resour"e p'anning
)t is simp'es to administer, (ith ad0ustment usua''y o""urring on"e a year. /e"ause sa'aries are &i-ed "ost, p'anned earnings &or the sa'es &or"e are easy to pro0e"t, (hi"h &a"i'ities the sa'es &or"e budgeting pro"ess. More "ontro' on non se''ing a"ti%ities !traight B +isad%antages No &inan"ia' in"enti%e to impro%e per&orman"e, pay o&ten based on seniority, not merit, sa'aries may be a burden to ne( &irms or to those in de"'ining industries.
Commissions
Commission B Ad%antages )n"ome 'in ed to resu'tsH strong &inan"ia' in"enti%e to impro%e resu'tH "ost redu"e during s'o( sa'es periodH 'ess operating "apita' re$uired. Commission B +isad%antages +i&&i"u't to bui'd 'oya'ty o& sa'es &or"e to "ompany and 'ess "ontro' o& non se''ing a"ti%ities
Per&orman"e /onuses
Per&orman"e /onus B Ad%antages ;rgani5ation "an dire"t emphasi5e to (hat it "onsider important in the sa'es area. !a'es emphasi5e "an be "hanged &rom period to period Per&orman"e /onus B +isad%antages +i&&i"u't to determine a &ormu'a &or a "a'"u'ating bonus a"hie%ement i& the ob0e"ti%e is e-pressed in sub0e"ti%e terms
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