Meaning of Sales Management
Management is a technique of managing the business sales operations. It is a method of developing a sales force, coordinating sales activities and implying various techniques that enable the business to improve its sales.
Sales management performs three crucial tasks in every organization. making sales plans and targets, hiring competent sales staff and sales reporting. It is an efficient tool that helps in increasing the net sales and profitability of an organization.
In simple terms, sales management refers to planning, directing and controlling all sales activities of the business unit. Sales management is a means of coordinating resources and people for generating desired results. It is a continuous or never-ending process that every organization needs to practice regularly for the achievement of desired targets.
Objectives and Functions of Sales Management
Achieving Sales Volume
Achievement of desired sales volume is the primary objective of sales management. It efficiently makes all sales related planning by forecasting future prospects. All these plans and policies help in the achievement of sales targets.
Sales management helps businesses in generating large revenues. It aims at approaching large customers and convincing them to buy business products and services.
It aims at increasing the profits of the organization through proper management of all sales activities. Sales management technique through proper planning, control and coordination focuses on increasing sales and reducing expenses.
Sales management has an efficient role in the overall growth of an organization. Continuous monitoring and management of sales activities, increase the overall revenue of the organization thereby resulting in the growth of the business.
Fixation of the right prices is an important task for every business organization. Sales management performs research on price strategies adopted by various competitors in the market and helps in fixing the optimum prices.
Motivate the SalesForce
Sales management aims at developing highly skilled and competent sales staff. It motivates sales personnel for working towards their roles efficiently by providing them with various incentives and rewards for their performance.
It manages and optimizes the whole distribution process of business. Sales management provides training to all staff for developing an efficient distribution system. It keeps track of all marketing channels and removes all loopholes from it.
The sales management technique supports businesses in the achievement of market leadership positions. With the increasing sales and market share by business, it becomes easy for them to become a market leader.