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935 Downloads1 I Published: 19 Mar ,2020
Sales planning played a important role to success of any business unit in the world. There are various stage involved in a sales planning. It is analyses the marketing and sales activities of the company which is help to attain the organizational goals and objectives. L'Oreal is a multinational brand of cosmetic and beauty company. They wants to expand their business internationally (Katz, and Green, 2009). The purpose of this report is to identify and analyses of marketing and sales plan to attain the organizational targets in a effective manner.
Personal selling played a significant role in the success of a business organization. There are various roles in the context of the organization, customer and the society at large. The first role of personal selling is that it is effective promotional tool for the company. Because in the salesman of the firm are directly communicate with customers and helps to increasing in the sales. The sales provide the product information to the customers. The needs and wants are important for a company specially for L'Oreal beauty and cosmetic company. These needs are identified by the salesman. Because they are directly communicate with the customers of the company. Information regarding the latest trends and development of the market are provided by the customer through the salesman. So that a company make and design their products accordingly (Sheldon, 2006). When a company introduced a product into the market the role of salesman into describes the characteristics and features of a company to their customers. The information which is gathered by salesperson to support in developing and designing a product and the services for L'Oreal.
There are various stages involved in a decision making process. This stages helps to a organization to make their decision mare effective. On the other hand consumer decision making process also involves various steps which are help to a consumer to buying a product and services. There are various similarities and differences in both process. In the a decision making process at corporate level it involves to identify the purpose of the decision. Once the purpose of a decision making identified than the information collection is required (Kaplan, and Norton, 2008). After that it requires to make identify the various alternatives of different choices and analyses these choices carefully. And finally a company can select the best alternative from the available choices. On the other hand in the consumer buying process the consumer first to recognizes the need for their purchase decisions. Once the needs are to be identified the consumer is now going to search the information according to their needs. There are various alternatives in therms brand are available in the market. The consumer evaluate these alternatives in a very effective way. And finally make a purchase decisions. In the purchase decision the consumer behaviour played a significant role. The sales person is required to understand the consumer behaviour of a consumer. These behaviour are affects by the sales person. It depends on the business to business and business to consumers (Márcio Tavares Thomé, and at al., 2012).
The sales and marketing team of a company is responsible to promote their products and services . They are also responsible to increase the sales and profitability of the company. There are various roles and responsibilities which is played by the sales team. The main role of a sales team is to identify the market segment for their products and services. They are also responsible to make their strategies accordingly. A sales and marketing team is communicate with their sales person and gathering information about their products. Another responsibilities is to set the sales target and compare these targets with past performance of the company. Marketing strategies of L'Oreal is they are more focused on the promotional and advertising. The maximum budget of the company is going for the promotion and advertising. A sales team requires to make an effective promotional activities and advertising which is to describes the features and characteristics of their products and services (Milliken, 2008). The another marketing strategy of the company is to focus on the research and development. Because they are want tom design their products according to the customer needs for their cosmetic products. A sales team is required to provide important information of their products to the research and development department.
A new product launch is one of the important and risky task for a company. There are various steps involved in this process. L'Oreal requires that first to identify the needs and desire of the customer. For example if the company wants to launch a new product range for aged women. They have to identify their needs. There are good opportunity for the company particular in this segment. They can provide shampoo for protecting their hair foll. Apart from that they can also launch a cosmetic product for protecting wrinkle. Once they identify the needs they have to require gather information about various aspects. These aspects involves product definition, strategic objectives, analyses of the market, competition available in the market and their product distribution plan (Lapide, 2007). The next phase to launch a product is to make marketing strategies accordingly but also considered the factors which can be affects the process of a launch. It is important for a company that its requires a proper and appropriate planning and implementation. Before L'Oreal going for mass production and distribution, they have to test their product in to a small market. So that they can gather feedback of their new product range and if any modification is requires they can change it. Once the test market is done they can launch their product and make their strategies accordingly. So that they can attain there organizational goals and objectives in an effective way. It is important for a company that all marketing strategies are implemented effectively (Guillén, and at el., 2006).
Sales strategies played a significant role to attain the organizational goals and objectives. To achieve these corporate goals it is essential for a sales manage to implement these strategies accordingly. Sales strategy is emphasized at corporate level where emphasizes is laid onmarket segmentation, targeting and positioning. To attain these objective it is important for a company to make an effective BCG matrix which helps to implement these strategies. This approach helps to the organization to increase the market share of the company. There are four categories in this matrix:
Dogs: This approach shows that low market share of the company with a lower growth rate. In this situation a company can not generate a large amount of cash.
Question mark: it shows that growing rapidly and it consume a large amount of cash. But there are law market share situation they are not able to generate cash from the market. This situation is favourable for a company for potential to grow.
Stars: Stars generate a large amount of cash. It is because the company position in the market is strong. They have good market share but it consume a large amount. This situation is higher growth for the company. If these stars can increase the market share it can convert in to cash cows.
Cash cows: cash cows are one of the strong position of a company. Because they generate more and more cash for the company.
Therefore a company make their sales strategies to considering the above approach. So that a company can get their goals and objective in a effective way.
Employees are the valuable asset for a company. They are help to a company to attain their goals and objective in a better way. L'Oreal is a multinational brand of cosmetic and beauty products. Therefore company make sure that they requires a highly skilled and capable human resource. For that company make a rigorous recruitment and selection process (Jacobs, 2007). So that they can get capable staff for there company. The are various importance of rigorous recruitment and selection process.
With the help of rigorous recruitment and selection procedures a company can get talented employees. Because all less talented staff can be eliminated.
The another importance is that selected staff are more skilled and knowledge it can help for a growth of a company.
It can also help to increase the market share in the market. Because there staff are more flexible ready to work hard. They are able to attract more consumer for the company.
Company can increase the productivity and profitability which is the core objective of a company.
Motivation is a important factor to increase the productivity and performance of an employees. L'Oreal requires to focus on their employees for motivating them. So that they can attain there targets in an effective way. There are various tools which is used by the company. Team building played a important role to motivate their employees. It helps to a sales team to strengthen of decision making process and communication. With the help of team building they feeling unity which can increase motivation. It can leads to increase in the sales of the company. Target setting also helps to a sales team. With the help target setting the team knows their targets. Team can divide their targets in to their members (Paolucci, Revetria, and Tonelli, 2008). It can helps to attain their target collectivity. Another motivation factor of the company the financial incentives. These are the major motivation tool. With the help of these financial incentives a employees can work more productive and efficiently. Commission also important for the sales team. L'Oreal requires to set commission on the sales target to their employees. So that they are tries to make more and more sales for the company. Training plays a important role to trained their employees in an effective way. Specially in the beauty and cosmetic industry where the sales staff directly communicate with the customers.
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To selling a product and services in to the market is one of the challenging task of a company. There are various sales activities involves to selling the products. L'Oreal requires to make an effective arrangement of these activities so that the company can attain their targets. These activities involved generating sales leads, qualifying leads, preparing for the sales meeting, making initial contact, the sales meeting, handling buyer resistance, closing the sale, and account maintenance. Apart from the sales control measures also important for the company. There are various tools which is used by the company to control and measures the sales of the company (Mula, and at el., 2010). Budgeting is played a significant role to control the financial resources of the company. A sales budget is a blueprint of estimated sales units with their estimated earnings from these sales. The management requires that to analyse the various factors. These factors can be economic conditions, competition in the market, capacity of production, and selling expenses. Performance standards are essential for L'Orealto measure their current performance with past performance. This tools is helps to improve the performance of the company. These performance help to improve the performance as well as the productivity of the company (Tang, Wilson, and Perevalov, 2008).
Sales management is significant for the company to attain the corporate goals at a time manner. There are various function of sales management which is performed by the management. Database building is one of the key function of sales management. These data can helps to the company to data access whenever is required. These data helps to improvement in the sales of the company. Because a sales database is a house of various information of their customers. These information can helps to getting feedback. Sending emails, generating quotes and other administrative functions can be done with much more ease than if the processes were manual. These data also helps to implementing marketing strategies in an effectively manner. With the help of these data it can helps in the target marketing. There are various issues involved in these database. The first threat is to hacking these data by the rival firm and use these data to their advantage. Another threat of these data is that, it can be miss use by the another firms. These data is beneficial for the company (Thomé,Sousa, and Scavarda do Carmo, 2014). It can make an effective sales management of the company. Therefore a company can attain the goals and objectives of the company in a effective manner.
A sales plan is a blueprint of a company to selling there products in to the market. It is involves a broad range of activities. There are a sales plan of L'Oreal are as follows:
Objectives: to establishing the objectives of the sales plan. There are the following goals and objective of the company to expand their business internationally:
Marketing strategies: the another stage of a sales plan is to make make marketing strategies for their products and services. For that a marketing team is make according to the region. And provide them required resources to attain their targets. And target their market according to their needs.
Evaluation and control: Another important stage in a marketing plan is to make an effective control and evaluation for their implemented strategies and activities.
International trade refers to export and imports of goods and services without any barriers across the national boundary. It helps to increase the business of a company from their home country to another country. L'Oreal wants to increase their sales is that to expand their business internationally (Estampe, and at el., 2013). So that company can increase their market share and also increase the profitability of the company. There are various ways which can be used by the company to expand their business internationally. There are the following ways to expand the business:
The company also concentrate on the brand of the company. They can use aggressive promotional and advertising to promote their business internationally.
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There are various another ways to promote the brand and a product in to the international market. L'Oreal can use exhibitions and trade fairs to create awareness of their brand and products at the international level. So that they can increase the demand of the product and attain the set goals easily. A trade fair is a event which is used by the company to introduced a new product or services in a particular region. It is one of the best way to promote their products in much better way. There are a following trade fair advertisement which can be promoted by L'Oreal:
Beauty EXPO L'Oreal
Date: 15 December 2016
As the above mentioned report it has been described that how a company can make their sales plan and implementing their strategies. It has been also described that how a company can expand their business internationally. With the help of international trade what tools can be used to increase their market share of the company.
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