Sales - Sales management

7 important questions on Sales - Sales management

What is dynamic strategic planning?

DSP is an ongoing process. It is important to have a vision on where you want to be in 5 years. If you only think about now you're company will stagnate.

What are the advantages of business planning?

It gives your organisation discipline, direction, control and credibility.

What is market penetration in the  Ansoff matrix?

Selling existing products to existing markets. Increase quality, productivity and marketing over time. Also consider collaboration.
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What is market development in the  Ansoff matrix?

Extending existing products to new markets. With new sales areas, segments. Consider exporting, buying competitors,..

What is product development in the  Ansoff matrix?

Developing new products to existing markets. Invest in R&D, modifications or extensions. Buy-in products

What is diversification in the Ansoff matrix?

Developing new products on new markets. Creat new business units or share technology.

How does the Boston Consulting group (BCG) matrix work?

When bringing  new product on the market it is unknown if it will work or not. This is the question mark in the matrix. When investing a lot in the product this might become a star product that is on top of the market. When this product stays there long enough it becomes a cash cow which does not need so much investment anymore and still generates a lot of cash.

Now and then your product will become a dog, which you will have to get rid off because this will cause losses in your company.

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