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 |