Description

Sales Management

September 2024 Examination

 

 

1. Glow Company, a leading manufacturer of premium skincare products, is looking to develop sales-related marketing policies to enhance its market presence & drive revenue growth. As the marketing manager, you’ve been tasked with proposing a set of policies that align with the company’s strategic objectives & market dynamics. Identify & justify three sales- related marketing policies that Glow Company could implement to increase its sales performance & market share in the skincare industry. (10 Marks)

Ans 1.

Introduction

In the competitive skincare industry, the importance of robust sales-related marketing policies cannot be understated, especially for a company like Glow Company, known for its premium offerings. To maintain and enhance its market presence, Glow Company must adopt innovative and strategic policies that not only attract new customers but also retain existing ones, thereby driving revenue growth. The dynamic nature of consumer preferences, coupled with the increasing competition in the skincare market, necessitates a thoughtful approach to sales strategies. This report proposes a set of three sales-related marketing policies designed to increase Glow Company’s sales performance and market share. These policies are anchored in

 

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2. As a sales manager for a growing technology company, you’ve been tasked with expanding your sales team to meet increasing demand for your products. Describe a practical situation where you would apply effective recruitment & selection strategies in your sales department. (10 Marks)

Ans 2.

Introduction

In the fast-paced technology sector, the expansion of a sales team is a critical step that can significantly impact a company’s ability to meet market demand and capitalize on growth opportunities. As a sales manager for a growing technology company, the task of recruiting and selecting the right talent becomes a strategic priority. This involves not just filling positions but ensuring that new hires align with the company’s culture, possess the necessary skills, and are capable of driving the company’s sales objectives forward. This report describes a practical situation where effective recruitment and selection strategies are essential for building a robust

 

3. Read the case & answer the questions based on the case: Background:

You are a real estate agent representing a seller who owns a luxurious waterfront property. The property has been on the market for several months without any offers, and the seller is getting anxious to close a deal. The asking price is $1.5 million, but there has been little interest from potential buyers.

Client Information:

Seller: Mr. Johnson, a retired businessman who is motivated to sell due to personal reasons. Property Details: A 4-bedroom, 3-bathroom waterfront home with a private dock and stunning views.

Market Conditions: The real estate market is competitive, and there are similar properties available in the area, though none with the same unique features.

Challenges:

The property has been on the market for a while without attracting serious offers. Similar properties in the area are priced slightly lower.

Mr. Johnson is emotionally attached to the property and is hesitant to lower the asking price.

Objectives:

Secure a buyer for the property within the next 60 days. Negotiate a deal that satisfies both the buyer and Mr. Johnson.

1. a) Explain various Sales related marketing strategies (5 Marks)

Ans 3a.

Introduction

In the competitive real estate market, securing a buyer for a high-value property like Mr. Johnson’s luxurious waterfront home requires strategic and targeted marketing approaches. Given the unique challenges and the urgent objective to close a deal within 60 days, implementing effective sales-related marketing strategies is crucial. These strategies should highlight the property’s distinctive features, reach the right audience, and address the emotional

buyers’ desires and expectations.

 

1. What Negotiation tactics will you adopt to close the deal? (5 Marks)

Ans 3b.

Introduction

Negotiating the sale of a high-value property such as Mr. Johnson’s luxurious waterfront home requires a blend of tact, strategy, and psychological insight. The objective is not only to secure a deal within the desired timeframe but also to ensure that the terms meet the expectations of both Mr. Johnson and the potential buyer. Effective negotiation tactics can bridge the gap