Sales and marketing plan

Task 1 – Sales Plan Preparation

Instructions to Learners:

• This summative assessment can be completed in class or at any other convenient location.

• Students are required to complete this task using digital tools and ensure to submit in an acceptable format, e.g. .docx, .pdf, .pptx, or as advised by your assessor.

• Please use the following formatting guidelines to complete this assessment task:  Font Size: 12; Line Spacing: Double; Font Style: Times New Roman

• Assessment activities can be completed either in real workplace environment or in a simulated environment such as your classroom. In both cases, appropriate evidence of the assessment activities must be provided.

Instruction to Assessors:

• You must assess student’s assessment according to the provided Marking Criteria. • You must complete and record any evidence related to assessment activities including

role-plays and presentations using appropriate forms which must be attached with student assessment submission.

• You must provide students with detailed feedback within 10 working days from submission.

Within a business in which you work or have access to, or for a simulated business where neither is available, develop a sales plan for the business.

A sample template will be provided by your trainer.

As such, this assessment task requires you to:

• analyse information from a range of sources to develop a sales plan for a product and sales territory that meets organisational strategic direction including:

o resource requirements and budget o achievable sales targets o performance measures o approaches to be used to meet objectives o risk management o advertising and promotional strategy o product distribution channels

• acquire staff, develop selling approach and provide training support on product knowledge and sales approach

• Monitor and evaluate performance and adjust the plan as appropriate.

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Part 1 – Draft a Sales Plan

A sales plan is closely related to a business plan and marketing plan, as it is frequently developed as a part of each. It is a road map designed to give a company's sales team direction through specific sales goals and objectives. Sales plans can address long-term sales goals such as a five-year or 10-year plan, or short-term sales goals and objectives, such as annual or 90-day sales plans.

Step 1

Set specific sales goals as a definitive statement. For an organisation, this is typically a financial goal, such as to increase sales for a particular product 15 percent within a specific reporting period, say, quarterly or annually. By identifying a specific and attainable financial sales goal for a given period, the sales team is able to then break the goal down into quantifiable objectives.

Step 2

Develop and write sales objectives based on the sales goals. These are the specific achievements that, if realized, will assist a company in meeting its sales goal.

For example, a sales objective might include to increase sales by a certain number of units through cross-selling widget B with widget A during a given time period. Sales objectives frequently include an increase in marketing expenditures on promotions and advertising outputs.

Step 3

Create a section in the sales plan about the target sales market. Here, you will include your market research, such as industry sales data related to your product or services. An awareness of industry developments will assist you to create realistic sales projections based on industry sales figures. This section should also identify competitors, which are those companies that provide similar products or services. Compare information on the customer-base, market shares and competitive advantages.

Step 4

Include timescales for the sales plan. In addition to developing a target date to meet the ultimate sales goal, this includes calendaring all milestones, tasks and activities required to achieve the sales objectives. Identify specific time management techniques to help with areas such as scheduling, prioritization and delegation.

Step 5

Create a budget section based on the financial resources needed to meet your sales objectives. The sales plan budget is part of the larger marketing budget for a company. Develop a budget for a sales plan to monitor and track expenditures specific to sales objectives and ensure that the sales team does not exceed its budget. Line items for a sales plan budget will include allocations for areas such as labour, increased production, advertising, travel, equipment and supplies.

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Step 6

Outline the strategy and tactics needed to implement the sales plan. For example, develop a top-down strategy to communicate goals and objectives to salespersons and other human resource personnel necessary to implement the sales plan. Additional sales force training may also be a required component to implement the sales plan.

Part 2 – Prepare Sales Plan

Step 1

Review your marketing plan if you have one. If not, discuss the following aspects of your business: marketplace needs, customer profile, your current position or brand, pricing strategy and distribution channels. Use this discussion to modify your product or service, if necessary, to maximize sales and to set or refine your pricing strategy.

Step 2

Compare your products and services by sales volume and profit margins. Determine if you make most of your money from lower sales of high-margin items, higher sales of lower-margin items or a combination of these factors.

Step 3

Look at your territories to learn where you are selling the most and where you have the most growth potential. Identify geographic locations that are underperforming and need to be dropped or given more attention.

Step 4

Review the following distribution channels to determine which you should keep, add or drop: retail stores, catalogues, websites, phone solicitations, in-person sales, direct-response advertising, value- added reseller, dealers, sales representatives. Consider the impact of selling different products, lines or services through different distribution channels.

Step 5

Set a budget for public relations, promotions and advertising. Tie your budget to sales to allow for an increase in marketing efforts when sales are strong, and to trigger a review when sales are slow.

Step 6

Create public relations, promotions and advertising plans that will support your sales efforts. Include a detailed advertising media plan that includes a list of media you will use, an advertising schedule and an analysis of the message your campaign will send to the marketplace to ensure it will dovetail with your other sales efforts.

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Step 7

Create sales training materials for those selling and distributing your product or service. Include detailed information on the product, methods for targeting and qualifying prospects, key highlights that should be stressed to potential customers, answers to possible customer objections, comparisons of competitors and order-taking and fulfilling procedures. Prepare detailed scripts for phone salespeople, including answers to common questions.

Step 8

Present your public relations, promotions and advertising plans to your salespeople so they may understand what is supporting their efforts and respond to customer comments, which may result from these campaigns.

Step 9

Set goals for person-to-person sales, including those performed by sales representatives, telemarketers, resellers and dealers. Review previous sales to set realistic goals. Advise salespeople of any changes you have made to your price, position or distribution. Set different goals based on margins and sales locales to encourage more sales of high-margin items and growth in low-sales areas. Create a bonus and commission structure to encourage sales staff, including differentiated rewards by profit margin and target areas to reach goals in those areas.

Step 10

Create monthly or quarterly goals to allow you to monitor and track your sales and make adjustments where necessary. Track your sales to determine if they are keeping pace with your goals. Adjust your marketing techniques to address problem areas and opportunities.

Present the Sales Plan to the business.

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T A S K 1 M A R K I N G C R I T E R I A

BSBSLS501 Develop a sales plan S NYS Learner’s name:

Assessor’s name:

Observation Criteria S NS Obtained and analysed assessment of market needs and strategic planning documents Reviewed previous sales performance and successful approaches to identify factors affecting performance Analysed information on market needs, new opportunities, customer profiles and requirements as a basis for decision making Determined practical and achievable sales targets Established realistic time lines for achieving targets Determined measures to allow for monitoring of performance Ensured objectives of the sales plan and style of the campaign are consistent with organisational strategic objectives and corporate image Determined approaches to be used to meet sales objectives Identified additional expertise requirements and allocate budgetary resources accordingly Identified risks and develop risk controls Developed advertising and promotional strategy for product Identified appropriate distribution channels for product Prepared a budget for the sales plan Presented documented sales plan to appropriate personnel for approval Identified and acquired staff resources to implement sales plan Developed an appropriate selling approach Documented the sales plan in an acceptable format Trained staff in the selling approach selected Developed and assessed staff knowledge of product to be sold Monitored implementation of the sales plan

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Recorded data measuring performance versus sales targets Made adjustments to sales plan as required to ensure required results are obtained Feedback to Learner:

Assessor’s Signature: Date: