Create a handout with details to be used for management discussion and planning that will specifically address a companies goal to double its sales over the next three years.
For doubling the sales within next three years, the following strategies are to be followed.
1. Itensifying the advertisement campaign.
The Management has to double the expenditure spent on advertisement in such a way that it reaches the untapped population also. The Company has to spend money on other sales promotion techniques like giving free sample, reduction in the price of the product by way of discount, giving free coupons to buy the same product in the market (like covers of used three products along with the coupons inside the packet can be used for the purchase of one new product of the company at free of cost).The Company can resort to door to door campaigning to promote the sales for the product.
2. Purchase of small undertakings in the market. (Acquisition strategy)
The management can consider the proposal of purchase of small undertaking which has sufficient production facility ...
The answer contains the methods by which the firm can double the sales viz., expansion, merger, new market, extensive advertisement campaign, employing new technolgy, acquistion of small firms, increasing the credit sales with liberal terms, engage in new sales promotion strategy like enhancing the sales commission which are explained in detail