Page 293 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes Nature’s Essence Range of Products
Nature’s Essence is available in Big Bazaar, Apollo and Guardian Life Care pharmacies
and Reliance Retail outlets. It is in talks with Subhiksha, Vishal Mega Mart, and Marks and
Spencer too.
Global Presence
Nature’s Essence is also present globally in markets such as South Africa, Mauritius,
Reunion Island and the Caribbean, where its products are primarily sold through direct
selling in trade fairs, seminars and workshops, apart from a significant retail presence in
the GCC countries. It is also sold under a private label in the US and Australia. In India too,
the products are sold through television for a private label.

The company plans to raise ` 100 crore in two years through an IPO to fund its retail
expansion plan, said Mr Nanda. Nature’s Essence is looking to set up its own exclusive
boutiques that will not only sell products but also educate and train beauticians. It is also
looking to enter the organic foods market soon. Immediate plans include introducing a
premium product in the colour cosmetics category.
Nature’s Essence has a production unit in Haridwar and is setting up another unit in
Uttaranchal. It is eyeing revenues of ` 100 crore in two years.

Source: thehindubusinessline.com
12.6 Summary

Organisation means the systematic coordination of the functions essential to achieving
organisational objectives. The objective of a sales organisation, therefore, is the
performance of various activities necessary to promote sales.
Sales forecasting is the art that predicts the likelihood of economic activity on the basis of
certain assumptions. The process of making certain estimates of future events is referred to
as sales forecasting and the figure obtained from the process is known as a ‘sales forecast’.
The object of a selling policy is to place the right type of goods in the hands of consumers
at the right time and at the right place.
The basic objective of the selection process is to gather information about the applicants
for the sales job. This information is then used to predict their success/failure probabilities.

An activity/function-based sales organisation is able to focus on the use of high-cost
selling methods, such as face-to-face sales calls, during a selling process.

An activity/function-based sales force can also be designed to meet the customer service
issues that are most important at each stage of the selling process. A hybrid sales organisation
is formed when two or more organisational types are combined. There are many such
situations when the salesman is found to be working only to avoid losing a casual leave
and the daily allowance.

Controlling the sales force is a critical part of the marketing/sales management process.
A majority of compensation plans for sales force combine two or more payment methods.

12.7 Keywords

Compensation: It is stated as the act of compensating or the state of being compensated.
Personal Selling: Interactive selling process with personal confrontation and response

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