Preparing a Sales Plan

1. Set objectives 2. Identify resources 3. Produce plan 4. Implement plan 5. Review results and amend plan

Objectives need to be SMART

Specific Measurable Agreed Realistic Time bound

A simple example could be the objective to sell $100,000 worth of Product X in the twelve months commencing 1 April. Other objectives could relate to market share, market penetration, the proportion of turnover in relation to key accounts, sales activity levels, profitability targets etc.

Resources need to be included in the sales plan, as it may be necessary to recruit or bring in additional resources for particular targets to be met. Also production capacity will need to be taken into consideration. The plan itself needs to be flexible and to take into account any likely changes in the market, unforeseen factors (such as staff turnover and recruitment) that reoccur and any other external factors that could affect achievement of the overall objectives.

Once the plan begins to be implemented it needs to be reviewed on a regular basis and changes made to the original plan as circumstances dictate. Remember, sales plans cannot be written in stone and need to be flexible enough to deal with those unforeseen circumstances that affect all businesses.

A typical sales plan should include the following sections:

Sales Objectives Short, medium and long term objectives that relate to the objectives of the overall business.

Resources this should include details of key players in the team, sales budgets, equipment etc.

Market Analysis A review of the market which looks at the market now and in the future. This can include analysis of competitor activity and an analysis of existing Accounts.

Product Range The range of products or services available for sale, new products to be introduced, and old products to be discontinued. The likely ratio of volumes of each product that is expected to be sold.

Activity Analysis Review of targeted activity levels by salesperson and by product. Statement of Key Ratios and average lead times.

Training Plan A training needs analysis of the individual/team that relates directly to objectives.

Resources Requirements Cost Benefits analysis of resources, manpower, equipment, finance etc., required to achieve sales objectives.

Analysis of sales strategy The methods by which sales objectives will be achieved.

Sales plan. Example: ABC printing limited

FORMAT SPECIFICATIONS & SUBMISSION Review, revise, and edit your work. Save your Final Assignment as either a Microsoft Word document or PDF that includes the following specifications: Title page (assignment title, course code, your name, student ID, assignment due date) 1.5 line spaced & 12-point Times New Roman/Arial font text Alignment- Justified page numbers Reference page and properly cited in-text citations that adhere to MLA or APA reference formats.