Sales Management Practices in Retail Sector

Presented By: Ranjit George 11 725 Nikhilesh Patty 11 740 Kiran Naik 11 734 Pravin Kumar Patra 11 738 Jitendra Bharude 11 706

FLOW

What is Retail?

Sales Management in Retail

Sales Management Practices

Big Bazaar Strategy

Conclusion

Retail
Retail is the sale of goods and services from individuals or

businesses to the end-user. A retailer purchases goods or products in large quantities from manufacturers or directly through a wholesaler, and then sells smaller quantities to the consumer for a profit The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power.

Location
Shops may be on residential streets, shopping streets with

few or no houses or in a shopping mall. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing.

Indian Retail Sector Information

The retail sector in the nation of 1.2 billion people is

estimated to have annual sales of $450 billion, with nearly 80 percent of the market controlled by tiny family-run shops. Organised retail, or large chains, makes up only 6 percent of the market but is expanding at 20 percent a year. This is driven by the emergence of shopping centres and malls, and a middle class of close to 300 million people that is growing at just under 2 percent a year.

Top Indian Retail Players

1. Big Bazaar: 214 stores across 90 cities and towns in India covering around 16 million sq.ft. of retail space. 2. Reliance Retail: Started in 2006, The company has expanded to more than 1000 reliance fresh outlets across the country. 3. Bharti Retail: Bharti Retail operates a chain of outlets under Easy Day Brand

Sales Management What is Sales Management? Sales Management includes all the marketing related activities such as advertising, personal selling, sales promotions, distribution, pricing and others.

According to American marketing association Sales Management includes the Planning, direction and control of personnel selling, including recruiting, selecting, equipping, assigning, routing, supervising, paying and motivating as these tasks apply to the personnel sales force

Best Sales Management Practises in Retail

1.People Power:

Human Resources are the most important strategic advantage. In a chain store environment all stores have similar if not the same layout, merchandise, tools, procedures, etc. The difference is the people.
2. Follow the Best Practices:

The best practices of the top sales associates should be upheld for the full organization to follow: the best demo, the best objection-handler. Those best practices should be transferred to the whole staff.
3. Stay ahead of the curve:

Markets and customers are constantly changing. Change is the only constant. It is imperative for a sales manager to stay ahead of the current aspects of the retail industry.

4. Listening to Customers: Customers are always right. Managers should learn to read between the lines in case the customer is not able to convey properly. They should always strive to achieve quick resolutions for the customers problems. 5. Prioritize:

Which decisions should be take when, how to prioritize steps should be taken care of in sales management practices.

New Big Bazaar Strategy

Product + Labour

De-seeding, grating and cutting

Reduce Negative labour

Sevaks

Customization

http://www.mxmindia.com/2012/02/big-bazaar-brings-newrecipe-to-boost-sales/

Sales management functions are important to the successful implementation

of business strategies. Some of the main advantages are meeting sales and personal targets, ensuring customer satisfaction via maximizing the shopping experience of customers; managing all aspects of store operations in order to ensure maximum sales as well as profit etc.