Ways and Methods of Sales Forecasting and Preparing Marketing Plans

19-07-2020 - 23-07-2020 3300 أبوظبي


Course Introduction:


The  sales  forecast  is  one  of  the  most  important  of  a  business  plan.  ’Market potential'  is nothing but a quantitative estimate of  the total possible sales by all the firms selling the product in a given market. Sales forecasting is essential in business, and sales forecasting is the major factor of success  in  business.  There  are  many  advantages  of  sales  forecasting,  and  more  accurate  sales forecasting means more scope of success in your business. Forecasting helps in reducing inventory and  to  schedule  customers'  orders.  Accurate sales  forecasting  is  very  helpful  in  planning  of  plant procurement and for cutting the cost. Sales forecasting also helps in prediction of revenue, hence it is necessary to understand accurately  the sales forecasting. There are many factors that affect sales forecasting and need to understand these factors before doing sales forecasting. In the preparation of a  comprehensive  marketing  plan,  sales  forecasts  help  the  marketer  develop  a  marketing  budget, allocate marketing resources, and monitor the competition  and  the  product environment. The sales forecast  is  a  prediction  of  a  business's  unit  and  dollars  sales f or  some future  period  of  time,  up  to several  years  or  more.  These forecasts  are  generally  based  primarily  on  recent  sales  trends, competitive  developments,  and  economic  trends  in  the  industry,  region,  and/or  nation  in  which  the organization conducts  business. Sales  forecasting  is  management's  primary  tool  for  predicting  the volume of attainable sales. Therefore, the whole budget process hinges on an accurate, timely sales forecast.


Course Objectives:


By the end of the program, participants will be able to:

  •   Define the nature and concept of marketing in a competitive environment.
  •   Understand the process of planning for marketing activities.
  •   Apply the techniques used in assessing market opportunities.
  •   Gather information necessary for implementing successful marketing strategies.
  •   Understand the implications of the 4Ps in marketing.
  •   Understand the distribution channel dynamics and how it fits the overall product marketing mix.
  •   Assess and select the most strategic value- added partnerships that complement core marketing activities.
  •   Apply a logical step-by-step process to produce a sound marketing plan.
  •   Present a marketing plan that builds on marketing audit findings.
  •   Use marketing audit findings to identify effective strategies and tactics.
  •   Develop the components of the strategic marketing plan.
  •   Understand and implement the different marketing warfare strategies (offensive, defensive and flanking).


Who Should Attend?

Marketing professionals, corporate executives, marketing managers, advertising managers, product managers, sales personnel, and others who are involved in marketing activities at all levels of the organization.


Course Outline:


The Marketing Concept

  • Scope and Functions
  • A New Approach to Marketing
  • Competitive Pressures Changing the World
  • The Smart Bomb Strategic Approach


Market Segmentation

  • The Gap Growth Analysis Matrix
  • Optimal Segments: Multifactor Analysis
  • Enterprise Growth Segmentation Opportunities
  • Analyzing Segments Attractiveness and the Company Capability Related to Them
  • Drawing the Segment Selection Matrix


Blue Ocean Strategies

  • The Principles of Blue Ocean Strategies
  • Moving from Red Ocean to Blue
  • Formulating a Blue Ocean Strategy:

o    Reconstruct Market Boundaries

o    Reach Beyond Existing Demand


The Business Situation Analysis

  • SWOT and TOWS Analysis
  • Competitive Analysis
  • Environmental Analysis


Strategic Marketing Planning

  • Linking the Marketing Strategy to the Vision, Mission and Objectives of the Company
  • The Marketing Planning Process


Strategy Development

  • Considering Different Strategic Alternatives
  • Analyzing Different Marketing Strategies
  • Formulating Long Term Marketing Goals
  • Selecting and Developing the Marketing Strategy for the 4Ps
  • Marketing Warfare Strategies


Tactical Planning Activities

  • Short Term Marketing Objectives
  • Positioning Strategies
  • Auditing the Product Portfolio
  • Linking Marketing Tactics to Sales Activities and Forecasts


Developing the Marketing Action Plan

  • Developing Activities for the 4Ps
  • Scheduling Activities
  • Allocation of Human and Financial Resources
  • Putting it all Together


The Brand and the Customer

  • A Matter of Perception
  • Identifying Brand Associations
  • Types of Associations
  • Using Brand Associations to Create Value
  • Understanding Brand Personality
  • Crafting the Positioning Statement
  • The Brand Promise
  • The 7Ps of Branding


Understanding Marketing Management

  • The Scope of Marketing
  • Defining Marketing
  • Core Marketing Concepts


The Process of Strategic Planning in Marketing

  • The Marketing Mission
  • Objectives and Goals
  • Marketing Audit
  • Strategic Alternatives
  • Marketing Assumptions


Market Segmentation

  • The Importance of Market Segmentation
  • The Benefits of Market Segmentation
  • Steps in Market Segmentation
  • Market Targeting and Product Positioning


Total Product Concept

  • The Product Life Cycle (PLC) Concept
  • Introduction Stage
  • Growth Stage
  • Maturity Stage
  • Decline Stage


Promotion Mix Strategies

  • Personal Selling
  • Advertising
  • Sales Promotion
  • Public Relations
  • Linking the Promotion Mix to PLC Strategies


Organizing and Managing the Distribution Channel

  • Kinds of Distribution Channels
  • Choosing the Best Channel
  • The Role of the Marketing Distribution Channels


Building the Competitive Advantage

  • Superior Product or Service
  • Superior Assets
  • Low Cost Operator
  • Innovation
  • Global Skills
  • Scales Advantages
  • Attitude
  • Superior Relationships
  • Risk Management
  • Vision


Distribution Channels: Optimizing Market Penetration

  • Key Selection Criteria to Consider
  • Engaging New Distribution Channels
  • Risks and Opportunities Associated with Distribution Channels
  • Business Conflicts Around:

o    Purchasing Agreements

o    Product Lifecycles

o    Marketing Campaigns

o    Product Support


Selling Skills Assessment

  • Sales Competency Model
  • Behaviors, Characteristics and Skills of a Successful Salesperson
  • Identifying Strengths and Weaknesses in Selling


Types of Selling

  • Strategic Selling and Buyers Influence
  • Planning your Calendar to Achieve Sales Goals and Build a Sales Pipeline
  • Retail (Face-to-Face) Selling
  • Relationship (Consultative) Selling
  • Hypnotic Selling and Hypnotic Sales Models
  • Characteristics of Different Selling Models, Types and Structures


Relationship Management (Partnering with Customers)

  • Technologies or Methods for Maintaining Customer Information
  • Customer Relationship Management (CRM)
  • Strategies to Maintain Communication with a Customer
  • Customer Marketing Pyramid
  • Relationship Marketing Management
  • Consultative Selling and Engaging the Customer in Dialogue
  • Life Time Value of a Customer (LTV)
  • Conflict Handling Techniques
  • Continuing the Dialogue with Customers on the Web via Twitter, Facebook and Linkedin


Sales Closing Techniques

  • Attitude of the Sales Professional
  • Dealing with Customer Objections
  • Various Closing Techniques
  • The "Feel Felt Found" Approach
  • Strategies to Respond to Common New Business Objections


Sales Win-Win Negotiations

  • The Phases of Sales Negotiations
  • The Harvard Model Applied to Sales Negotiation
  • The Art of Bargaining and Concessions Handling


Course Methodology:


A variety of methodologies will be used during the course that includes:

·         (30%) Based on Case Studies

·         (30%) Techniques 

·         (30%) Role Play

·         (10%) Concepts

·         Pre-test and Post-test

·         Variety of Learning Methods

·         Lectures

·         Case Studies and Self Questionaires

·         Group Work

·         Discussion

·         Presentation


Course Fees:


This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.


Course Timings:


Daily Course Timings:

    08:00 - 08:20       Morning Coffee / Tea

    08:20 - 10:00       First Session

    10:00 - 10:20       Coffee / Tea / Snacks

    10:20 - 12:20       Second Session

    12:20 - 13:30       Lunch Break & Prayer Break

    13:30 - 15:00       Last Session

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