Page 95 - DMGT507_SALES AND PROMOTIONS MANAGEMENT

Unit 4: Sales Meetings, Sales Contests and Sales Budget

Notes
firms. He read out a long list of the smaller firms in the industry which include excellent
record of the company in the matter of credit management and to the fact over as credit
manager. Extending sales to the smaller manufacturers, he argued, was fraught with
grave risks and the company, if it close to adopt such a policy, should be reconciled to an
incidence of bad debts of about 6 percent each year, which he was quick to point margin
the company appears to have its products.
Questions
1. What consideration he should take into account, while revising the budget of a
company?
2. Advice the Managing Director how he should take the circumstances.

4.4 Summary

The sales meeting is not just about the seller discussing the product, rather much more
takes place during this part of the selling process.
The goal of your meeting should be to deliver a powerful message for the audience and
make it accessible to as many people as possible.
Sales contests are means to stimulate sales personnel. They provide incentives to increase
profits, sales value, achieve specific objects. The contests, are also a means of breaking the
monotony of every day work.
Sales budget is the statement of revenues and costs that are expected for a given time
period and are among the most important control devices available to sales managers.
A sales budget aids in sales planning and acts as both a standard of performance and a tool
of control.
4.5 Keywords

Affordable Method: fixing the budget based on the resources (affordance)
Sales Budget: plan showing how resources shall be allocated to achieve sales goals
Sales Contests: a prize competition for salespeople, often part of an incentive program, designed
to increase sales
Sales Meetings: A gathering in which a product or service is being discussed, and the benefits are
outlined to the potential buyer.
Zero Based Budgeting: keeping the base for each other budget as zero (new base)

4.6 Self Assessment

Fill in the blanks:
1. ………………..is a two way conversation between salesperson and the prospective.
2. Training on sales meeting should be blended with …………………..
3. Sales contests are special………………..to promote sales and motivate the salespersons.
4. Special honours given to the salespersons cater to their………………..needs.

5. The goals of the sales contest should be……………
6. The ideal duration for a sales contest is………………weeks.

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