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20 Cards in this Set
- Front
- Back
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Planning for sales managers |
1) define goals and objectives 2) set policies 3) establish procedures 4) devise strategies 5) direct tactics 6) develop and enforce controls |
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Objectives |
Specific results desired within a designated time frame |
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Policies |
Predetermined approaches for handling routine matters or reoccurring situations |
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Procedures |
Detailed descriptions of specific steps for carrying out actions |
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Strategy |
An overall program of action for using resources to achieve a goal |
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Tactics |
Day-to-day actions that make up the strategic plan |
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Beginning planning process |
1) analyze situation 2) set goals and objectives 3) determine market potential & forecast sales 4) develop strategies 5) allocate resources & develop budget 6) implement plan 7) evaluate and control |
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Market share/market growth matrix |
A matrix displaying alternative methods of growing sales |
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Strategic business units (sbu’s) |
Logical divisions of major businesses within multiple product companies |
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Business portfolio matrix |
A method of segmenting the company’s activities into groups of well defined business for which distinct strategies are developed |
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Market potential |
The maximum possible sales for an entire industry |
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Sales potential |
The maximum possible sales for a company |
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Market capacity |
The units the market will absorb if the product or service is free |
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Market penetration |
A tragedy focusing on increasing sales of current products in current markets by more intensive marketing efforts |
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Strategy planning |
The process of setting overall objectives, allocating resources and developing broad courses of action |
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Market development |
A tragedy for opening up new markets for current products |
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Product development |
The creation of new or improved products for current markets by adding new sizes, models with new features, alternative quality versions, or creative new alternatives to satisfy the same basic needs |
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Critical path |
The sequence of tasks to be completed, the time to complete each activity, and the responsible individuals |
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Dialectic planning |
An approach calling for making a new set of assumptions - sometimes directly opposite - and reevaluating all previous planning decisions |
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Contingency planning |
A backup plan to the one adopted; executed only if events occur beyond the control of the major plan |
