1. What is the value of a sales plan to your business? What is the relationship between the business plan, marketing plan, and sales plan in your organization? How do sales plans differ from business to business and business to consumer?
2. How do you determine the type of forecasting to use and what type of forecasting is used in your organization? How does it relate to the goals of your business? Give examples of quantitative and qualitative forecasting in your organization?
Running Head: MARKETING MANAGEMENT
Sales Plan and Forecasting
Sales plan is an important aspect of our business, as it determines the expected sales of a product or service for the company. It assists the company to improve the sales and growth of a particular product or service. It also helps in enhancing the customer base that is considered as a critical success factor (Lancaster & Reynolds, 2005). It is used to increase profit and the area of customer groups that are beneficial for the overall credibility of the business. In this way, a sales plan is valuable to the business.
There is a relationship between the marketing, business and sales plan. Marketing plan, business and sales plan are aimed to improve the profitability and growth of the company. All these three respective plans are developed on a particular business intention (Hill, O'Sullivan & Hill, 2003). Sales plan is equally valuable to the business as like of marketing and business plan. There are some key aspects that relate these three plans to each other. These are as follows:
Goals: Goals of marketing, business and sales plan are almost similar that reflect their relationship. To enhance the profitability, revenues, market share, customer base and sales are the common goals of marketing, business and sales plan (Peter & Donnelly, 2002).
Tools: Tools used in the marketing, business and sales plan are also similar. Market analysis, trends and ...
The value of a sales plan for a business is discussed. The solution contains an analysis of the relationships between a business plan, marketing plan, and sales plan. Forecasting used for your organization is discussed.