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Execution-MiH ENCYCLOPEDIA →
Execution Making-it-Happen →
SECTION - 'Value' management →
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CHAPTER -
| Sales and Marketing value-maximization |
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This aspect is covered in fair degree of detail in the 'sales management' section in 'Functional Management Domain'. It talks about the sales profitability, sales density, sales processes and host of other dimensions linked to sales & marketing
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Topics
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Channel and Distribution Synergies
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An enterprise can extract a significant value, if it can have common sales offices, outlets, service centres, sales staff, training facilities, sales inventory management etc.... As much as possible. Many a times, enterprises seek a management comfort by having separate channels for seemingly different lines of business, to avoid ownership issues and let individual business managers 'run-the-show' independently. This, however, may reduce the value one can draw out of per unit of expense on these channels. While we say this synergy needs to be optimized and not maximized.
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Channel adaptability and flexibility quotient
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Changing times need a change in the selling approach, the skills & capabilities of the sales staff, the quality of sales outlets and economics of sales compensation. It may also need a change in marketing approach, sales collateral design & price, the speed of sales required, the geographical expansion needed, the direct vs indirect matrix for sales channels, etc.... One has to systematically start building the responsiveness to change in the channels around various factors as mentioned above.
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Channel Information pipelines
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Nothing touches a customer as closely as a sales and marketing channel. It can be your ear closest to the ground. The challenge many a times, is that market voice heard by these ears travels up the company through many filters and interpretations. An enterprise should train the sales and marketing front-ends on how to seek, gather and report the ground-intelligence. At the same time, it should work on processing that intelligence without distorting it. This ground-intelligence collected by the sales and marketing channels would not only be linked to sales & customer choices, but also linked to post-sales experience, the competition, the environment, customer's investment plans, etc....
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Channel multi-purpose utilization
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A location in your sales and marketing network may not be only used for the given purpose. Your sales people may be used for first-level trouble-shooting. Your sales office may be used for packing and forwarding. Your field agents can may be used for picking the renewal Cheques. Your servicing units can may be used to do cross-sell and up-sell, your sales & service counters may be used to sell associated non-competing products and add more nickels in your kitty.
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All Chapters in "'Value' management ." Section
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