Key Steps to Develop Market Segmentation

Market segmentation simply refers to the division of the entire market into different homogenous groups of customers. Market segmentation is very important as it allows the firm to effectively meet their customers’ needs. This is done through the development of products that are targeted towards a particular market segment.

Homogenous here simple means same or alike. This simply means that the needs, styles, tastes and preferences of the customers in that segment are all the same. This makes it much easier for the firm to take care of all its customers use different forms of product differentiation and assortment.

However, for market segmentation to be effective there are a number of requirements that need to be met by each market segment and these are:
The market segment should be measurable. It should be of a realistic size; a size that can be easily accounted for and one that the firm can effectively and efficiently produce products for. Continue reading

How to Develop an Effective Sales Planning?

As a sales manager, it is your responsibility to create and develop an effective sales plan. If you have strong business plan your sales team or sales people will be able to focus on selling your product of service.

Sales planning are more than just putting numbers into spreadsheets it is crucial into getting the results you want for your business. Whether you are a small business owner, an employee selling your own services, or a sales manager of a large organization the steps in sales planning are the same.

Steps in creating an effective sales plan are; define your goal, plan how to achieve the desired outcome, and turn your plans to reality.
Step one is to define your goals and objective that you want your business to achieve. Plenty of sales operations are making mistakes on creating goals based on what their sales team can sell. Build a picture on what you want to achieve at the end of the year. Continue reading

How to Develop Persuasive Selling Skills

When selling products, a sale person must not be pushy but rather persuasive. Have you ever encountered a sales person having everything good going as he meets all sales goals?

This is the situation for him not because of lack, or natural gift for selling. This has become of him because he mastered persuasive selling skills with appropriate product knowledge which made his sales seem effortless. Through sales training and hard work, he has acquired and developed persuasive skills which magnets sales.

When sales people are pushy about the products they are selling, it can be a total turn off to prospective customers. If there is one thing that customer would not want is someone who just walk up in their fronts and begin talking endlessly. Pushy sales person will look unknowledgeable, unprofessional and even rude. Continue reading

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