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, 1) Problem Recognition-Why Sales not enough - + K Iceberg principle: only a small part of the iceberg is visible above the surface of the water, the other 90% of the part is the dangerous one. Total sales and total cost of manufacturing are visible part of an iceberg, actual sales, other hidden costs and performance measures of the product are very important and submerge parts.
L L 2) Problem Definition Poor perceived value relative to price.
Product defect rates are too high because of product design.
Poor Brand name because of lack of promotion.
Overestimated demand for the products.
Negative Publicity by the competitor. 2) Problem Analysis S a l e s f o r e c a s t e s t i m a t e o f p r o b a b l e s a l e s f o r o n e c o m p a n y s b r a n d o f a p r o d u c t d u r i n g a s t a t e d p e r i o d o f t i m e i n a s p e c i f i c m a r k e t , a s s u m i n g a d e f i n e d m a r k e t i n g p l a n i s u s e d .
W h a t p e r c e n t a g e o f t h e m a r k e t p u r c h a s e s u s e d b o o k s ; a n d
W h a t m a r k e t s h a r e o f t h e r e m a i n i n g m a r k e t m a y b e c a p t u r e d b y t h e p a r t i c u l a r t e x t b o o k o f i n t e r e s t . Z Z Z Methods of Forecasting Sales < 1 . M a r k e t F a c t o r A n a l y s i s d e t e r m i n i n g w h a t f a c t o r s a f f e c t t h e b e h a v i o r o f a c e r t a i n m a r k e t a n d t h e n m e a s u r i n g t h e i r r e l a t i o n s h i p t o a s p e c i f i c a c t i v i t y .
a . D i r e c t d e r i v a t i o n m e t h o d r e l a t i v e l y s i m p l e , i n e x p e n s i v e , a n d r e q u i r e s l i t t l e s t a t i s t i c a l a n a l y s i s ; m u s t b e d e r i v e d f r o m a n e a s i l y m e a s u r a b l e f a c t o r .
b . C o r r e l a t i o n a n a l y s i s a r e f i n e m e n t o f t h e d i r e c t d e r i v a t i o n m e t h o d w h i c h g i v e s m o r e e x a c t e s t i m a t e o f m a r k e t d e m a n d b y a n a l y z i n g m o r e t h a n o n e f a c t o r , a n d a c c o u n t i n g f o r t h e d e g r e e o f a s s o c i a t i o n b e t w e e n t h e f a c t o r s a n d p o t e n t i a l s a l e s ; n o t a s e a s i l y u n d e r s t a n d a b l e a n d r e q u i r e s a t l e a s t 2 0 p e r i o d s o f s a l e s a n d a l e n g t h y h i s t o r y o f t h e m a r k e t f a c t o r a s s o c i a t i o n . P P W
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 2 . S u r v e y o f b u y e r i n t e n t i o n s a s a m p l e o f c u r r e n t / p o t e n t i a l c u s t o m e r s i s s u r v e y e d t o d e t e r m i n e h o w m u c h o f a s p e c i f i c p r o d u c t w o u l d b e b o u g h t a t a g i v e n p r i c e d u r i n g a g i v e n t i m e .
a . S a m p l e s e l e c t i o n c a n b e p r o b l e m a t i c
b . I n t e n t i o n s d o n o t p e r f e c t l y c o r r e l a t e w i t h a c t u a l b e h a v i o r .
c . S u r v e y s a r e m o s t a c c u r a t e w i t h r e l a t i v e l y f e w b u y e r s i n t h e m a r k e t w h o a r e w i l l i n g t o e x p r e s s b u y i n g i n t e n t i o n s a n d w h o s e h i s t o r y r e v e a l s a c o n s i s t e n t i n t e n t i o n - a c t i o n c o r r e l a t i o n . X Z Z F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 3 . T e s t M a r k e t i n g a f i r m m a r k e t s i t s p r o d u c t i n a l i m i t e d g e o g r a p h i c a r e a , m e a s u r e s s a l e s , a n d t h e n p r o j e c t s t h e c o m p a n y s s a l e s o v e r a l a r g e r a r e a ; u s u a l l y d o n e t o d e t e r m i n e n e w p r o d u c t d e m a n d a n d t o e v a l u a t e a l t e r n a t i v e p r o d u c t f e a t u r e s a n d m a r k e t i n g a p p r o a c h e s . 2 F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 4 . P a s t s a l e s a n d t r e n d a n a l y s i s a f l a t p e r c e n t a g e i n c r e a s e i s a p p l i e d t o t h e p r i o r y e a r s v o l u m e o r t o t h e a v e r a g e v o l u m e c o v e r i n g s e v e r a l p a s t y e a r s .
a . P a s t s a l e s a n a l y s i s i s s i m p l e , e a s y , i n e x p e n s i v e
b . P a s t s a l e s a n a l y s i s w o r k s b e s t i n a s t a b l e m a r k e t w h e r e m a r k e t s h a r e h a s b e e n c o n s i s t e n t .
c . T r e n d a n a l y s i s i s a m o r e c o m p l i c a t e d p r o c e d u r e b a s e d o n r e g r e s s i o n a n a l y s i s , u s i n g a s e a s o n a l i n d e x o f s a l e s .
d . T r e n d a n a l y s i s i n h e r e n t w e a k n e s s i s b a s i n g f u t u r e e s t i m a t e s o n l y o n p a s t s a l e s . X P V P x V
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . S a l e s - f o r c e c o m p o s i t e a b o t t o m - u p m e t h o d c o n s i s t i n g o f s a l e s e s t i m a t e s f o r t h e f u t u r e p e r i o d o b t a i n e d f r o m a l l s a l e s p e o p l e ; t h e s u m o f e s t i m a t e s i s t h e f i r m s s a l e s f o r e c a s t .
a . R e q u i r e s c o m p e t e n t w e l l - i n f o r m e d s a l e s p e o p l e o r a m a r k e t c o m p o s e d o f r e l a t i v e l y f e w , b u t l a r g e c u s t o m e r s .
b . T a k e s a d v a n t a g e o f s a l e s p e r s o n e x p e r t i s e a n d m a k e s t h e m m o r e w i l l i n g t o a c c e p t a s s i g n e d s a l e s q u o t a s .
c . M a y t a k e t o o m u c h t i m e a w a y f r o m s e l l i n g a c t i v i t i e s .
d . E s t i m a t e s m a y n o t b e a c c u r a t e d u e t o u n d e r - o r o v e r - e s t i m a t i o n . X P Q P Q F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . E x e c u t i v e j u d g m e n t o b t a i n i n g o p i n i o n s r e g a r d i n g f u t u r e s a l e s v o l u m e f r o m o n e o r m o r e e x e c u t i v e s , w h i c h w h e n u s e d a l o n e c a n b e a r i s k y m e t h o d t o d e p e n d o n ; t h e b e s t k n o w v e r s i o n i s t h e D e l p h i m e t h o d :
a . S u r v e y s e x p e r t s a n o n y m o u s l y a b o u t f u t u r e s a l e s .
b . E s t i m a t e s a r e r e d i s t r i b u t e d a n d a d j u s t e d i n r o u n d s u n t i l s o m e c o n s e n s u s a p p e a r s .
c . U s e f u l w h e n t h e p r o d u c t i s t r u l y i n n o v a t i v e o r c o n s t i t u t e s a s i g n i f i c a n t b r e a k t h r o u g h .
d . A v o i d s s p e c i f i c i n d i v i d u a l s b i a s i n g o t h e r s , b u t a l l o w s i n f l u e n c e o f c o m b i n e d g r o u p j u d g m e n t .
e . P a r t i c i p a n t s m a y n o t h a v e s u f f i c i e n t i n f o r m a t i o n o n w h i c h t o b a s e e s t i m a t e s . V Z Z 4) Choose Appropriate Action ^ There might be several alternatives that can lead to the solution to the problem, choosing an appropriate action plan can be very helpful, like;
Invest money in promotion of the product.
Remove the defects by improving design.
Build brand image.
Invest money in R& D for new innovative products.
Bring more features in the product to create value.
_ _ 0 ) h ( 5) Implementation and Solution Analysis: ) ) ( W After choosing an appropriate action, in this stage the tool is implemented and problem is solved. A continuous recording of data is done to evaluate how the tool is helping in solving the problem. Cross functional team in this stage if feels that problem still exists they can go back to previous stages and then start the process once again. X X W 6) Preventing Backsliding If the problem is solved than the procedures are documented and maintained properly for future analysis, problem solving team is motivated intrinsically and extrinsically and a control procedures are develop to scan the system for quality checks. Tools for Improving Sales 3 Promotion Using Scatter Diagram
Customer Surveys: 0 4 " 3 Promotion
P r o m o t i o n i s t h e e l e m e n t i n a n o r g a n i z a t i o n s m a r k e t i n g m i x t h a t s e r v e s t o i n f o r m , p e r s u a d e , a n d r e m i n d t h e m a r k e t r e g a r d i n g t h e o r g a n i z a t i o n a n d / o r i t s p r o d u c t s .
I t i n c l u d e s a l l t h e m e a n s b y w h i c h a c o m p a n y c o m m u n i c a t e s d i r e c t l y w i t h p o t e n t i a l c u s t o m e r s .
I t i s a n a t t e m p t t o i n f l u e n c e f e e l i n g s , b e l i e f s , o r b e h a v i o r .
I t i s a n a t t e m p t t o s h i f t t h e d e m a n d c u r v e f o r a f i r m s g o o d s o r s e r v i c e s P Promotion Methods v Personal selling: The direct presentation of a product to a prospective customer by a representative of the selling organization.
Advertising: A paid-for type of impersonal mass communication in which the sponsor is clearly identified.
Sales promotion: Demand-stimulating activity designed to supplement advertising and facilitate personal selling.
Public relations: A planned communication effort by an organization to contribute to generally favorable attitudes and opinions toward an organization and its products.
Publicity: A special form of public relations that involves news stories about an organization or its products.
w P q ^ a
g v Scatter Diagram
" Push & Pull Promotional Strategies # # " Consumer ( 8
" Z Customer Surveys Customer surveys are extremely helpful in gathering data from a large number of sources using variety of channels. They are also less time consuming than conducting interviews, the number can range from 10 -1000 customers. Z Customer Survey Process Firstly, the surveys objectives are defined by understanding the problem and gathering information to solve that problem.
Secondly, the surveys are designed considering audience in mind, using common language, asking simple but complete and concrete questions. The most commonly used type of surveys contain open ended and close ended question and the question type depends upon what kind of information you are gathering. P Customer Survey Process p Thirdly, a methods or tools are determined to gather a data. One to one interview, phone surveys, mail surveys and sample surveys are the tools used to gather data in a more time efficient manner.
Fourthly, after the tool is selected for gathering the data, a sample plan is created collecting only a portion of the data that is available from the whole population. q q p Customer Survey Process Fifthly, survey is conducted or sends out and it takes about one week to get the data back.
Finally, analysis plan is conducted and reports are generated with suggestion and conclusion. ' GOOD LUCK !!!!!!!!!!!!!!!! AND HAVE FUN ( (
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, 1) Problem Recognition-Why Sales not enough - + K Iceberg principle: only a small part of the iceberg is visible above the surface of the water, the other 90% of the part is the dangerous one. Total sales and total cost of manufacturing are visible part of an iceberg, actual sales, other hidden costs and performance measures of the product are very important and submerge parts.
L L 2) Problem Definition Poor perceived value relative to price.
Product defect rates are too high because of product design.
Poor Brand name because of lack of promotion.
Overestimated demand for the products.
Negative Publicity by the competitor. 2) Problem Analysis S a l e s f o r e c a s t e s t i m a t e o f p r o b a b l e s a l e s f o r o n e c o m p a n y s b r a n d o f a p r o d u c t d u r i n g a s t a t e d p e r i o d o f t i m e i n a s p e c i f i c m a r k e t , a s s u m i n g a d e f i n e d m a r k e t i n g p l a n i s u s e d .
W h a t p e r c e n t a g e o f t h e m a r k e t p u r c h a s e s u s e d b o o k s ; a n d
W h a t m a r k e t s h a r e o f t h e r e m a i n i n g m a r k e t m a y b e c a p t u r e d b y t h e p a r t i c u l a r t e x t b o o k o f i n t e r e s t . Z Z Z Methods of Forecasting Sales < 1 . M a r k e t F a c t o r A n a l y s i s d e t e r m i n i n g w h a t f a c t o r s a f f e c t t h e b e h a v i o r o f a c e r t a i n m a r k e t a n d t h e n m e a s u r i n g t h e i r r e l a t i o n s h i p t o a s p e c i f i c a c t i v i t y .
a . D i r e c t d e r i v a t i o n m e t h o d r e l a t i v e l y s i m p l e , i n e x p e n s i v e , a n d r e q u i r e s l i t t l e s t a t i s t i c a l a n a l y s i s ; m u s t b e d e r i v e d f r o m a n e a s i l y m e a s u r a b l e f a c t o r .
b . C o r r e l a t i o n a n a l y s i s a r e f i n e m e n t o f t h e d i r e c t d e r i v a t i o n m e t h o d w h i c h g i v e s m o r e e x a c t e s t i m a t e o f m a r k e t d e m a n d b y a n a l y z i n g m o r e t h a n o n e f a c t o r , a n d a c c o u n t i n g f o r t h e d e g r e e o f a s s o c i a t i o n b e t w e e n t h e f a c t o r s a n d p o t e n t i a l s a l e s ; n o t a s e a s i l y u n d e r s t a n d a b l e a n d r e q u i r e s a t l e a s t 2 0 p e r i o d s o f s a l e s a n d a l e n g t h y h i s t o r y o f t h e m a r k e t f a c t o r a s s o c i a t i o n . P P W
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 2 . S u r v e y o f b u y e r i n t e n t i o n s a s a m p l e o f c u r r e n t / p o t e n t i a l c u s t o m e r s i s s u r v e y e d t o d e t e r m i n e h o w m u c h o f a s p e c i f i c p r o d u c t w o u l d b e b o u g h t a t a g i v e n p r i c e d u r i n g a g i v e n t i m e .
a . S a m p l e s e l e c t i o n c a n b e p r o b l e m a t i c
b . I n t e n t i o n s d o n o t p e r f e c t l y c o r r e l a t e w i t h a c t u a l b e h a v i o r .
c . S u r v e y s a r e m o s t a c c u r a t e w i t h r e l a t i v e l y f e w b u y e r s i n t h e m a r k e t w h o a r e w i l l i n g t o e x p r e s s b u y i n g i n t e n t i o n s a n d w h o s e h i s t o r y r e v e a l s a c o n s i s t e n t i n t e n t i o n - a c t i o n c o r r e l a t i o n . X Z Z F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 3 . T e s t M a r k e t i n g a f i r m m a r k e t s i t s p r o d u c t i n a l i m i t e d g e o g r a p h i c a r e a , m e a s u r e s s a l e s , a n d t h e n p r o j e c t s t h e c o m p a n y s s a l e s o v e r a l a r g e r a r e a ; u s u a l l y d o n e t o d e t e r m i n e n e w p r o d u c t d e m a n d a n d t o e v a l u a t e a l t e r n a t i v e p r o d u c t f e a t u r e s a n d m a r k e t i n g a p p r o a c h e s . 2 F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 4 . P a s t s a l e s a n d t r e n d a n a l y s i s a f l a t p e r c e n t a g e i n c r e a s e i s a p p l i e d t o t h e p r i o r y e a r s v o l u m e o r t o t h e a v e r a g e v o l u m e c o v e r i n g s e v e r a l p a s t y e a r s .
a . P a s t s a l e s a n a l y s i s i s s i m p l e , e a s y , i n e x p e n s i v e
b . P a s t s a l e s a n a l y s i s w o r k s b e s t i n a s t a b l e m a r k e t w h e r e m a r k e t s h a r e h a s b e e n c o n s i s t e n t .
c . T r e n d a n a l y s i s i s a m o r e c o m p l i c a t e d p r o c e d u r e b a s e d o n r e g r e s s i o n a n a l y s i s , u s i n g a s e a s o n a l i n d e x o f s a l e s .
d .
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! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? @ A B C D E F G H I J K L M N O P Q R S T U V W X Y Z [ \ ] ^ _ ` a b c d e f g h i j k l m n o p q r s t u w x y z { | } ~ R o o t E n t r y dO ) 6 @ P i c t u r e s C u r r e n t U s e r _ S u m m a r y I n f o r m a t i o n ( v LU P o w e r P o i n t D o c u m e n t ( # D o c u m e n t S u m m a r y I n f o r m a t i o n 8 " D P a l a t i n o L i n o t y p e T зܖ 0ܖ D T i m e s N e w R o m a n e T зܖ 0ܖ @ .
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= > # A Global Problem Sales Not Enough $ $
, 1) Problem Recognition-Why Sales not enough - + K Iceberg principle: only a small part of the iceberg is visible above the surface of the water, the other 90% of the part is the dangerous one. Total sales and total cost of manufacturing are visible part of an iceberg, actual sales, other hidden costs and performance measures of the product are very important and submerge parts.
L L 2) Problem Definition Poor perceived value relative to price.
Product defect rates are too high because of product design.
Poor Brand name because of lack of promotion.
Overestimated demand for the products.
Negative Publicity by the competitor. 2) Problem Analysis S a l e s f o r e c a s t e s t i m a t e o f p r o b a b l e s a l e s f o r o n e c o m p a n y s b r a n d o f a p r o d u c t d u r i n g a s t a t e d p e r i o d o f t i m e i n a s p e c i f i c m a r k e t , a s s u m i n g a d e f i n e d m a r k e t i n g p l a n i s u s e d .
W h a t p e r c e n t a g e o f t h e m a r k e t p u r c h a s e s u s e d b o o k s ; a n d
W h a t m a r k e t s h a r e o f t h e r e m a i n i n g m a r k e t m a y b e c a p t u r e d b y t h e p a r t i c u l a r t e x t b o o k o f i n t e r e s t . Z Z Z Methods of Forecasting Sales < 1 . M a r k e t F a c t o r A n a l y s i s d e t e r m i n i n g w h a t f a c t o r s a f f e c t t h e b e h a v i o r o f a c e r t a i n m a r k e t a n d t h e n m e a s u r i n g t h e i r r e l a t i o n s h i p t o a s p e c i f i c a c t i v i t y .
a . D i r e c t d e r i v a t i o n m e t h o d r e l a t i v e l y s i m p l e , i n e x p e n s i v e , a n d r e q u i r e s l i t t l e s t a t i s t i c a l a n a l y s i s ; m u s t b e d e r i v e d f r o m a n e a s i l y m e a s u r a b l e f a c t o r .
b . C o r r e l a t i o n a n a l y s i s a r e f i n e m e n t o f t h e d i r e c t d e r i v a t i o n m e t h o d w h i c h g i v e s m o r e e x a c t e s t i m a t e o f m a r k e t d e m a n d b y a n a l y z i n g m o r e t h a n o n e f a c t o r , a n d a c c o u n t i n g f o r t h e d e g r e e o f a s s o c i a t i o n b e t w e e n t h e f a c t o r s a n d p o t e n t i a l s a l e s ; n o t a s e a s i l y u n d e r s t a n d a b l e a n d r e q u i r e s a t l e a s t 2 0 p e r i o d s o f s a l e s a n d a l e n g t h y h i s t o r y o f t h e m a r k e t f a c t o r a s s o c i a t i o n . P P W
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 2 . S u r v e y o f b u y e r i n t e n t i o n s a s a m p l e o f c u r r e n t / p o t e n t i a l c u s t o m e r s i s s u r v e y e d t o d e t e r m i n e h o w m u c h o f a s p e c i f i c p r o d u c t w o u l d b e b o u g h t a t a g i v e n p r i c e d u r i n g a g i v e n t i m e .
a . S a m p l e s e l e c t i o n c a n b e p r o b l e m a t i c
b . I n t e n t i o n s d o n o t p e r f e c t l y c o r r e l a t e w i t h a c t u a l b e h a v i o r .
c . S u r v e y s a r e m o s t a c c u r a t e w i t h r e l a t i v e l y f e w b u y e r s i n t h e m a r k e t w h o a r e w i l l i n g t o e x p r e s s b u y i n g i n t e n t i o n s a n d w h o s e h i s t o r y r e v e a l s a c o n s i s t e n t i n t e n t i o n - a c t i o n c o r r e l a t i o n . X Z Z F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 3 . T e s t M a r k e t i n g a f i r m m a r k e t s i t s p r o d u c t i n a l i m i t e d g e o g r a p h i c a r e a , m e a s u r e s s a l e s , a n d t h e n p r o j e c t s t h e c o m p a n y s s a l e s o v e r a l a r g e r a r e a ; u s u a l l y d o n e t o d e t e r m i n e n e w p r o d u c t d e m a n d a n d t o e v a l u a t e a l t e r n a t i v e p r o d u c t f e a t u r e s a n d m a r k e t i n g a p p r o a c h e s . 2 F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 4 . P a s t s a l e s a n d t r e n d a n a l y s i s a f l a t p e r c e n t a g e i n c r e a s e i s a p p l i e d t o t h e p r i o r y e a r s v o l u m e o r t o t h e a v e r a g e v o l u m e c o v e r i n g s e v e r a l p a s t y e a r s .
a . P a s t s a l e s a n a l y s i s i s s i m p l e , e a s y , i n e x p e n s i v e
b . P a s t s a l e s a n a l y s i s w o r k s b e s t i n a s t a b l e m a r k e t w h e r e m a r k e t s h a r e h a s b e e n c o n s i s t e n t .
c . T r e n d a n a l y s i s i s a m o r e c o m p l i c a t e d p r o c e d u r e b a s e d o n r e g r e s s i o n a n a l y s i s , u s i n g a s e a s o n a l i n d e x o f s a l e s .
d . T r e n d a n a l y s i s i n h e r e n t w e a k n e s s i s b a s i n g f u t u r e e s t i m a t e s o n l y o n p a s t s a l e s . X P V P x V
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . S a l e s - f o r c e c o m p o s i t e a b o t t o m - u p m e t h o d c o n s i s t i n g o f s a l e s e s t i m a t e s f o r t h e f u t u r e p e r i o d o b t a i n e d f r o m a l l s a l e s p e o p l e ; t h e s u m o f e s t i m a t e s i s t h e f i r m s s a l e s f o r e c a s t .
a . R e q u i r e s c o m p e t e n t w e l l - i n f o r m e d s a l e s p e o p l e o r a m a r k e t c o m p o s e d o f r e l a t i v e l y f e w , b u t l a r g e c u s t o m e r s .
b . T a k e s a d v a n t a g e o f s a l e s p e r s o n e x p e r t i s e a n d m a k e s t h e m m o r e w i l l i n g t o a c c e p t a s s i g n e d s a l e s q u o t a s .
c . M a y t a k e t o o m u c h t i m e a w a y f r o m s e l l i n g a c t i v i t i e s .
d . E s t i m a t e s m a y n o t b e a c c u r a t e d u e t o u n d e r - o r o v e r - e s t i m a t i o n . X P Q P Q F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . E x e c u t i v e j u d g m e n t o b t a i n i n g o p i n i o n s r e g a r d i n g f u t u r e s a l e s v o l u m e f r o m o n e o r m o r e e x e c u t i v e s , w h i c h w h e n u s e d a l o n e c a n b e a r i s k y m e t h o d t o d e p e n d o n ; t h e b e s t k n o w v e r s i o n i s t h e D e l p h i m e t h o d :
a . S u r v e y s e x p e r t s a n o n y m o u s l y a b o u t f u t u r e s a l e s .
b . E s t i m a t e s a r e r e d i s t r i b u t e d a n d a d j u s t e d i n r o u n d s u n t i l s o m e c o n s e n s u s a p p e a r s .
c . U s e f u l w h e n t h e p r o d u c t i s t r u l y i n n o v a t i v e o r c o n s t i t u t e s a s i g n i f i c a n t b r e a k t h r o u g h .
d . A v o i d s s p e c i f i c i n d i v i d u a l s b i a s i n g o t h e r s , b u t a l l o w s i n f l u e n c e o f c o m b i n e d g r o u p j u d g m e n t .
e . P a r t i c i p a n t s m a y n o t h a v e s u f f i c i e n t i n f o r m a t i o n o n w h i c h t o b a s e e s t i m a t e s . V Z Z 4) Choose Appropriate Action ^ There might be several alternatives that can lead to the solution to the problem, choosing an appropriate action plan can be very helpful, like;
Invest money in promotion of the product.
Remove the defects by improving design.
Build brand image.
Invest money in R& D for new innovative products.
Bring more features in the product to create value.
_ _ 0 ) h ( 5) Implementation and Solution Analysis: ) ) ( W After choosing an appropriate action, in this stage the tool is implemented and problem is solved. A continuous recording of data is done to evaluate how the tool is helping in solving the problem. Cross functional team in this stage if feels that problem still exists they can go back to previous stages and then start the process once again. X X W 6) Preventing Backsliding If the problem is solved than the procedures are documented and maintained properly for future analysis, problem solving team is motivated intrinsically and extrinsically and a control procedures are develop to scan the system for quality checks. Tools for Improving Sales 3 Promotion Using Scatter Diagram
Customer Surveys: 0 4 " 3 Promotion
P r o m o t i o n i s t h e e l e m e n t i n a n o r g a n i z a t i o n s m a r k e t i n g m i x t h a t s e r v e s t o i n f o r m , p e r s u a d e , a n d r e m i n d t h e m a r k e t r e g a r d i n g t h e o r g a n i z a t i o n a n d / o r i t s p r o d u c t s .
I t i n c l u d e s a l l t h e m e a n s b y w h i c h a c o m p a n y c o m m u n i c a t e s d i r e c t l y w i t h p o t e n t i a l c u s t o m e r s .
I t i s a n a t t e m p t t o i n f l u e n c e f e e l i n g s , b e l i e f s , o r b e h a v i o r .
I t i s a n a t t e m p t t o s h i f t t h e d e m a n d c u r v e f o r a f i r m s g o o d s o r s e r v i c e s P Promotion Methods v Personal selling: The direct presentation of a product to a prospective customer by a representative of the selling organization.
Advertising: A paid-for type of impersonal mass communication in which the sponsor is clearly identified.
Sales promotion: Demand-stimulating activity designed to supplement advertising and facilitate personal selling.
Public relations: A planned communication effort by an organization to contribute to generally favorable attitudes and opinions toward an organization and its products.
Publicity: A special form of public relations that involves news stories about an organization or its products.
w P q ^ a
g v Scatter Diagram
" Push & Pull Promotional Strategies # # " Consumer ( 8
" Z Customer Surveys Customer surveys are extremely helpful in gathering data from a large number of sources using variety of channels. They are also less time consuming than conducting interviews, the number can range from 10 -1000 customers. Z Customer Survey Process Firstly, the surveys objectives are defined by understanding the problem and gathering information to solve that problem.
Secondly, the surveys are designed considering audience in mind, using common language, asking simple but complete and concrete questions. The most commonly used type of surveys contain open ended and close ended question and the question type depends upon what kind of information you are gathering. P Customer Survey Process p Thirdly, a methods or tools are determined to gather a data. One to one interview, phone surveys, mail surveys and sample surveys are the tools used to gather data in a more time efficient manner.
Fourthly, after the tool is selected for gathering the data, a sample plan is created collecting only a portion of the data that is available from the whole population. q q p Customer Survey Process Fifthly, survey is conducted or sends out and it takes about one week to get the data back.
Finally, analysis plan is conducted and reports are generated with suggestion and conclusion. ' GOOD LUCK !!!!!!!!!!!!!!!! AND HAVE FUN ( (
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L On-screen Show Eastern Illinois University # r Arial Palatino Linotype Times New Roman 01159439 $ A Global Problem Sales Not Enough - 1) Problem Recognition-Why Sales not enough 2) Problem Definition 3) Problem Analysis Methods of Forecasting Sales $ Methods of Forecasting Sales Contd $ Methods of Forecasting Sales Contd $ Methods of Forecasting Sales Contd $ Methods of Forecasting Sales Contd $ Methods of Forecasting Sales Contd 4) Choose Appropriate Action ) 5) Implementation and Solution Analysis: 6) Preventing Backsliding Tools for Improving Sales
Promotion Promotion Methods Scatter Diagram Slide 18 # Push & Pull Promotional Strategies Customer Surveys Customer Survey Process Customer Survey Process Customer Survey Process ( GOOD LUCK !!!!!!!!!!!!!!!! AND HAVE FUN Fonts Used Design Template
Slide Titles X 8 @ _TemplateID TC011594391033 - _" 0Saifur Rahman Bhuiyan S a i f u r T r e n d a n a l y s i s i n h e r e n t w e a k n e s s i s b a s i n g f u t u r e e s t i m a t e s o n l y o n p a s t s a l e s . X P V P x V
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . S a l e s - f o r c e c o m p o s i t e a b o t t o m - u p m e t h o d c o n s i s t i n g o f s a l e s e s t i m a t e s f o r t h e f u t u r e p e r i o d o b t a i n e d f r o m a l l s a l e s p e o p l e ; t h e s u m o f e s t i m a t e s i s t h e f i r m s s a l e s f o r e c a s t .
a . R e q u i r e s c o m p e t e n t w e l l - i n f o r m e d s a l e s p e o p l e o r a m a r k e t c o m p o s e d o f r e l a t i v e l y f e w , b u t l a r g e c u s t o m e r s .
b . T a k e s a d v a n t a g e o f s a l e s p e r s o n e x p e r t i s e a n d m a k e s t h e m m o r e w i l l i n g t o a c c e p t a s s i g n e d s a l e s q u o t a s .
c . M a y t a k e t o o m u c h t i m e a w a y f r o m s e l l i n g a c t i v i t i e s .
d . E s t i m a t e s m a y n o t b e a c c u r a t e d u e t o u n d e r - o r o v e r - e s t i m a t i o n . X P Q P Q F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . E x e c u t i v e j u d g m e n t o b t a i n i n g o p i n i o n s r e g a r d i n g f u t u r e s a l e s v o l u m e f r o m o n e o r m o r e e x e c u t i v e s , w h i c h w h e n u s e d a l o n e c a n b e a r i s k y m e t h o d t o d e p e n d o n ; t h e b e s t k n o w v e r s i o n i s t h e D e l p h i m e t h o d :
a . S u r v e y s e x p e r t s a n o n y m o u s l y a b o u t f u t u r e s a l e s .
b . E s t i m a t e s a r e r e d i s t r i b u t e d a n d a d j u s t e d i n r o u n d s u n t i l s o m e c o n s e n s u s a p p e a r s .
c . U s e f u l w h e n t h e p r o d u c t i s t r u l y i n n o v a t i v e o r c o n s t i t u t e s a s i g n i f i c a n t b r e a k t h r o u g h .
d . A v o i d s s p e c i f i c i n d i v i d u a l s b i a s i n g o t h e r s , b u t a l l o w s i n f l u e n c e o f c o m b i n e d g r o u p j u d g m e n t .
e . P a r t i c i p a n t s m a y n o t h a v e s u f f i c i e n t i n f o r m a t i o n o n w h i c h t o b a s e e s t i m a t e s . V Z Z 4) Choose Appropriate Action ^ There might be several alternatives that can lead to the solution to the problem, choosing an appropriate action plan can be very helpful, like;
Invest money in promotion of the product.
Remove the defects by improving design.
Build brand image.
Invest money in R& D for new innovative products.
Bring more features in the product to create value.
_ _ 0 ) h ( 5) Implementation and Solution Analysis: ) ) ( W After choosing an appropriate action, in this stage the tool is implemented and problem is solved. A continuous recording of data is done to evaluate how the tool is helping in solving the problem. Cross functional team in this stage if feels that problem still exists they can go back to previous stages and then start the process once again. X X W 6) Preventing Backsliding If the problem is solved than the procedures are documented and maintained properly for future analysis, problem solving team is motivated intrinsically and extrinsically and a control procedures are develop to scan the system for quality checks. Tools for Improving Sales 3 Promotion Using Scatter Diagram
Customer Surveys: 0 4 " 3 Promotion
P r o m o t i o n i s t h e e l e m e n t i n a n o r g a n i z a t i o n s m a r k e t i n g m i x t h a t s e r v e s t o i n f o r m , p e r s u a d e , a n d r e m i n d t h e m a r k e t r e g a r d i n g t h e o r g a n i z a t i o n a n d / o r i t s p r o d u c t s .
I t i n c l u d e s a l l t h e m e a n s b y w h i c h a c o m p a n y c o m m u n i c a t e s d i r e c t l y w i t h p o t e n t i a l c u s t o m e r s .
I t i s a n a t t e m p t t o i n f l u e n c e f e e l i n g s , b e l i e f s , o r b e h a v i o r .
I t i s a n a t t e m p t t o s h i f t t h e d e m a n d c u r v e f o r a f i r m s g o o d s o r s e r v i c e s P Promotion Methods v Personal selling: The direct presentation of a product to a prospective customer by a representative of the selling organization.
Advertising: A paid-for type of impersonal mass communication in which the sponsor is clearly identified.
Sales promotion: Demand-stimulating activity designed to supplement advertising and facilitate personal selling.
Public relations: A planned communication effort by an organization to contribute to generally favorable attitudes and opinions toward an organization and its products.
Publicity: A special form of public relations that involves news stories about an organization or its products.
w P q ^ a
g v Scatter Diagram
" Push & Pull Promotional Strategies # # " Consumer ( 8
" Z Customer Surveys Customer surveys are extremely helpful in gathering data from a large number of sources using variety of channels. They are also less time consuming than conducting interviews, the number can range from 10 -1000 customers. Z Customer Survey Process Firstly, the surveys objectives are defined by understanding the problem and gathering information to solve that problem.
Secondly, the surveys are designed considering audience in mind, using common language, asking simple but complete and concrete questions. The most commonly used type of surveys contain open ended and close ended question and the question type depends upon what kind of information you are gathering. P Customer Survey Process p Thirdly, a methods or tools are determined to gather a data. One to one interview, phone surveys, mail surveys and sample surveys are the tools used to gather data in a more time efficient manner.
Fourthly, after the tool is selected for gathering the data, a sample plan is created collecting only a portion of the data that is available from the whole population. q q p Customer Survey Process Fifthly, survey is conducted or sends out and it takes about one week to get the data back.
Finally, analysis plan is conducted and reports are generated with suggestion and conclusion. ' GOOD LUCK !!!!!!!!!!!!!!!! AND HAVE FUN ( (
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= > # A Global Problem Sales Not Enough $ $
, 1) Problem Recognition-Why Sales not enough - + K Iceberg principle: only a small part of the iceberg is visible above the surface of the water, the other 90% of the part is the dangerous one. Total sales and total cost of manufacturing are visible part of an iceberg, actual sales, other hidden costs and performance measures of the product are very important and submerge parts.
L L 2) Problem Definition Poor perceived value relative to price.
Product defect rates are too high because of product design.
Poor Brand name because of lack of promotion.
Overestimated demand for the products.
Negative Publicity by the competitor. 3) Problem Analysis " S a l e s f o r e c a s t e s t i m a t e o f p r o b a b l e s a l e s f o r o n e c o m p a n y s b r a n d o f a p r o d u c t d u r i n g a s t a t e d p e r i o d o f t i m e i n a s p e c i f i c m a r k e t , a s s u m i n g a d e f i n e d m a r k e t i n g p l a n i s u s e d .
W h a t p e r c e n t a g e o f t h e m a r k e t p u r c h a s e s u s e d b o o k s ; a n d
W h a t m a r k e t s h a r e o f t h e r e m a i n i n g m a r k e t m a y b e c a p t u r e d b y t h e p a r t i c u l a r t e x t b o o k o f i n t e r e s t . Z Z Z Methods of Forecasting Sales < 1 . M a r k e t F a c t o r A n a l y s i s d e t e r m i n i n g w h a t f a c t o r s a f f e c t t h e b e h a v i o r o f a c e r t a i n m a r k e t a n d t h e n m e a s u r i n g t h e i r r e l a t i o n s h i p t o a s p e c i f i c a c t i v i t y .
a . D i r e c t d e r i v a t i o n m e t h o d r e l a t i v e l y s i m p l e , i n e x p e n s i v e , a n d r e q u i r e s l i t t l e s t a t i s t i c a l a n a l y s i s ; m u s t b e d e r i v e d f r o m a n e a s i l y m e a s u r
a b l e f a c t o r .
b . C o r r e l a t i o n a n a l y s i s a r e f i n e m e n t o f t h e d i r e c t d e r i v a t i o n m e t h o d w h i c h g i v e s m o r e e x a c t e s t i m a t e o f m a r k e t d e m a n d b y a n a l y z i n g m o r e t h a n o n e f a c t o r , a n d a c c o u n t i n g f o r t h e d e g r e e o f a s s o c i a t i o n b e t w e e n t h e f a c t o r s a n d p o t e n t i a l s a l e s ; n o t a s e a s i l y u n d e r s t a n d a b l e a n d r e q u i r e s a t l e a s t 2 0 p e r i o d s o f s a l e s a n d a l e n g t h y h i s t o r y o f t h e m a r k e t f a c t o r a s s o c i a t i o n . P P W
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 2 . S u r v e y o f b u y e r i n t e n t i o n s a s a m p l e o f c u r r e n t / p o t e n t i a l c u s t o m e r s i s s u r v e y e d t o d e t e r m i n e h o w m u c h o f a s p e c i f i c p r o d u c t w o u l d b e b o u g h t a t a g i v e n p r i c e d u r i n g a g i v e n t i m e .
a . S a m p l e s e l e c t i o n c a n b e p r o b l e m a t i c
b . I n t e n t i o n s d o n o t p e r f e c t l y c o r r e l a t e w i t h a c t u a l b e h a v i o r .
c . S u r v e y s a r e m o s t a c c u r a t e w i t h r e l a t i v e l y f e w b u y e r s i n t h e m a r k e t w h o a r e w i l l i n g t o e x p r e s s b u y i n g i n t e n t i o n s a n d w h o s e h i s t o r y r e v e a l s a c o n s i s t e n t i n t e n t i o n - a c t i o n c o r r e l a t i o n . X Z Z F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 3 . T e s t M a r k e t i n g a f i r m m a r k e t s i t s p r o d u c t i n a l i m i t e d g e o g r a p h i c a r e a , m e a s u r e s s a l e s , a n d t h e n p r o j e c t s t h e c o m p a n y s s a l e s o v e r a l a r g e r a r e a ; u s u a l l y d o n e t o d e t e r m i n e n e w p r o d u c t d e m a n d a n d t o e v a l u a t e a l t e r n a t i v e p r o d u c t f e a t u r e s a n d m a r k e t i n g a p p r o a c h e s . 2 F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 4 . P a s t s a l e s a n d t r e n d a n a l y s i s a f l a t p e r c e n t a g e i n c r e a s e i s a p p l i e d t o t h e p r i o r y e a r s v o l u m e o r t o t h e a v e r a g e v o l u m e c o v e r i n g s e v e r a l p a s t y e a r s .
a . P a s t s a l e s a n a l y s i s i s s i m p l e , e a s y , i n e x p e n s i v e
b . P a s t s a l e s a n a l y s i s w o r k s b e s t i n a s t a b l e m a r k e t w h e r e m a r k e t s h a r e h a s b e e n c o n s i s t e n t .
c . T r e n d a n a l y s i s i s a m o r e c o m p l i c a t e d p r o c e d u r e b a s e d o n r e g r e s s i o n a n a l y s i s , u s i n g a s e a s o n a l i n d e x o f s a l e s .
d . T r e n d a n a l y s i s i n h e r e n t w e a k n e s s i s b a s i n g f u t u r e e s t i m a t e s o n l y o n p a s t s a l e s . X P V P x V
F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . S a l e s - f o r c e c o m p o s i t e a b o t t o m - u p m e t h o d c o n s i s t i n g o f s a l e s e s t i m a t e s f o r t h e f u t u r e p e r i o d o b t a i n e d f r o m a l l s a l e s p e o p l e ; t h e s u m o f e s t i m a t e s i s t h e f i r m s s a l e s f o r e c a s t .
a . R e q u i r e s c o m p e t e n t w e l l - i n f o r m e d s a l e s p e o p l e o r a m a r k e t c o m p o s e d o f r e l a t i v e l y f e w , b u t l a r g e c u s t o m e r s .
b . T a k e s a d v a n t a g e o f s a l e s p e r s o n e x p e r t i s e a n d m a k e s t h e m m o r e w i l l i n g t o a c c e p t a s s i g n e d s a l e s q u o t a s .
c . M a y t a k e t o o m u c h t i m e a w a y f r o m s e l l i n g a c t i v i t i e s .
d . E s t i m a t e s m a y n o t b e a c c u r a t e d u e t o u n d e r - o r o v e r - e s t i m a t i o n . X P Q P Q F M e t h o d s o f F o r e c a s t i n g S a l e s C o n t d $ $ 5 . E x e c u t i v e j u d g m e n t o b t a i n i n g o p i n i o n s r e g a r d i n g f u t u r e s a l e s v o l u m e f r o m o n e o r m o r e e x e c u t i v e s , w h i c h w h e n u s e d a l o n e c a n b e a r i s k y m e t h o d t o d e p e n d o n ; t h e b e s t k n o w v e r s i o n i s t h e D e l p h i m e t h o d :
a . S u r v e y s e x p e r t s a n o n y m o u s l y a b o u t f u t u r e s a l e s .
b . E s t i m a t e s a r e r e d i s t r i b u t e d a n d a d j u s t e d i n r o u n d s u n t i l s o m e c o n s e n s u s a p p e a r s .
c . U s e f u l w h e n t h e p r o d u c t i s t r u l y i n n o v a t i v e o r c o n s t i t u t e s a s i g n i f i c a n t b r e a k t h r o u g h .
d . A v o i d s s p e c i f i c i n d i v i d u a l s b i a s i n g o t h e r s , b u t a l l o w s i n f l u e n c e o f c o m b i n e d g r o u p j u d g m e n t .
e . P a r t i c i p a n t s m a y n o t h a v e s u f f i c i e n t i n f o r m a t i o n o n w h i c h t o b a s e e s t i m a t e s . V Z Z 4) Choose Appropriate Action ^ There might be several alternatives that can lead to the solution to the problem, choosing an appropriate action plan can be very helpful, like;
Invest money in promotion of the product.
Remove the defects by improving design.
Build brand image.
Invest money in R& D for new innovative products.
Bring more features in the product to create value.
_ _ 0 ) h ( 5) Implementation and Solution Analysis: ) ) ( W After choosing an appropriate action, in this stage the tool is implemented and problem is solved. A continuous recording of data is done to evaluate how the tool is helping in solving the problem. Cross functional team in this stage if feels that problem still exists they can go back to previous stages and then start the process once again. X X W 6) Preventing Backsliding If the problem is solved than the procedures are documented and maintained properly for future analysis, problem solving team is motivated intrinsically and extrinsically and a control procedures are develop to scan the system for quality checks. Tools for Improving Sales 3 Promotion Using Scatter Diagram
Customer Surveys: 0 4 " 3 Promotion
P r o m o t i o n i s t h e e l e m e n t i n a n o r g a n i z a t i o n s m a r k e t i n g m i x t h a t s e r v e s t o i n f o r m , p e r s u a d e , a n d r e m i n d t h e m a r k e t r e g a r d i n g t h e o r g a n i z a t i o n a n d / o r i t s p r o d u c t s .
I t i n c l u d e s a l l t h e m e a n s b y w h i c h a c o m p a n y c o m m u n i c a t e s d i r e c t l y w i t h p o t e n t i a l c u s t o m e r s .
I t i s a n a t t e m p t t o i n f l u e n c e f e e l i n g s , b e l i e f s , o r b e h a v i o r .
I t i s a n a t t e m p t t o s h i f t t h e d e m a n d c u r v e f o r a f i r m s g o o d s o r s e r v i c e s P Promotion Methods v Personal selling: The direct presentation of a product to a prospective customer by a representative of the selling organization.
Advertising: A paid-for type of impersonal mass communication in which the sponsor is clearly identified.
Sales promotion: Demand-stimulating activity designed to supplement advertising and facilitate personal selling.
Public relations: A planned communication effort by an organization to contribute to generally favorable attitudes and opinions toward an organization and its products.
Publicity: A special form of public relations that involves news stories about an organization or its products.
w P q ^ a
g v Scatter Diagram
" Push & Pull Promotional Strategies # # " Consumer ( 8
" Z Customer Surveys Customer surveys are extremely helpful in gathering data from a large number of sources using variety of channels. They are also less time consuming than conducting interviews, the number can range from 10 -1000 customers. Z Customer Survey Process Firstly, the surveys objectives are defined by understanding the problem and gathering information to solve that problem.
Secondly, the surveys are designed considering audience in mind, using common language, asking simple but complete and concrete questions. The most commonly used type of surveys contain open ended and close ended question and the question type depends upon what kind of information you are gathering. P Customer Survey Process p Thirdly, a methods or tools are determined to gather a data. One to one interview, phone surveys, mail surveys and sample surveys are the tools used to gather data in a more time efficient manner.
Fourthly, after the tool is selected for gathering the data, a sample plan is created collecting only a portion of the data that is available from the whole population. q q p Customer Survey Process Fifthly, survey is conducted or sends out and it takes about one week to get the data back.
Finally, analysis plan is conducted and reports are generated with suggestion and conclusion. ' GOOD LUCK !!!!!!!!!!!!!!!! AND HAVE FUN ( (
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