The sales components in a consumer products company
Posted by Ed in Business, tags: RetailThis list includes the key components for sales in a consumer products company. Sales is responsible for securing and managing distribution of the company’s products through retailers, distributors and other resellers. In a small company, they are handled by no more than a few people, or even just one individual, with the potential for support through outsourced providers. In a large company, there are many individuals that work within each component with additional support through outsourced providers.
Consumer Research
Broad consumer research, including trends, demographics and psychographics is generally handled by the marketing department or marketing individual, but sales is responsible for gathering this data from its retailers and knowing how consumers behave in a retail environment.
Retail Interface/Broker Management
Sales interfaces directly with retailers in selling its products and it can utilize outside brokers to help manage retail relationships. For a small company, utilizing brokers is an efficient way to expand a company’s retail footprint quickly and to manage each retailer and their individual requirements for selling products.
Sales Operations/Customer Service
Once a retailer becomes a customer, sales helps manage the relationship, especially order processing. This function will interface with logistics to help ensure that product is shipped and received by the customer. It is also important to manage the terms against which the company negotiated with a retailer.
Merchandising/Demos
Maximizing sales in the retail store happens by maintaining ample inventory on shelf, using in-store advertising, and taking advantage of product displays, end-caps and other ways to encourage purchasing.
Account Marketing
Specific marketing campaigns are developed with a retailer to sell product, which can include volume discounts offered to the consumer (Buy-one-get-one, five for the price of three, etc.), special packaging/flavors/sizes for the retailer, and other marketing ideas to help stimulate sales with a specific retailer.
Forecasting and Analysis/Category Management
Sales forecasts drive the entire company’s financial statements and are driven in large part based on historical results. Analysis is an integral part to understanding how to maximize sales against the category of competitors.
Product Launches
New products help grow a brand and differentiate it against competitors.
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