Answer to Question #219401 in Management for Prince

Question

SUBJECT : ADVERTISING AND SALES MANAGEMENT

Discuss the classification of functions (ELABORATE IN DETAIL) of a sales organization. Highlight the difference (GIVE AT LEAST 8 POINTS FOR DIFFERENCE) between formal and informal structures of sales organizations

Answer 1

A sales team is in charge of a number of responsibilities. To acquire marketing data, market research and other sources must be leveraged. It is a term used to describe market research that includes forecasting, intelligence, and data. It's an important part of product marketing. If this isn't done appropriately, the market may become overburdened with products.The company may suffer financial damages as a result of this. It can also lead to underproduction, which has its own set of problems.

It is necessary for product planning to be completed. This includes deciding on the packaging, brand, and trademarks for the product. It must forecast revenue and plan its sales approach accordingly. The entire focus of the Sales department is on selling in order to increase profit.The department, for example, engages in sales promotion to introduce a new product, unload accumulated inventory, and overcome a competitive climate. It must undertake sales budgeting, which comprises projecting expected gross revenue from sales as well as selling and distribution expenditures in order to control and monitor those costs.It must develop a clear and well-thought-out sales plan, which includes policies on distribution methods or networks, terms and conditions of sale, product rates, trade and cash discounts, return policies, credit terms, and payment system.