Sales Strategy, Customer Relationship Management (CRM), and Analytics
In Unit VII, you will complete part of a marketing plan by creating the sales strategy (including CRM and analytics) and channel strategy for your entrepreneurial venture.
As a reminder, keep the plan realistic and feasible. You have limited resources as an entrepreneur, including financial limitations. Create a sales and channel strategy with these limitations in mind.
The Unit VII submission should include the following sections:
Sales Strategy, CRM, and Analytics
Channel Strategy
For the sales strategy section, consider the following elements:
Type of sales force needed (e.g., inside vs. outside, transactional vs. solution, direct vs. indirect, territories vs. industry verticals, etc.)
Size of sales force
Location of sales force (HQ-based, virtual, etc.)
Sales compensation (e.g., salary, straight commission, salary + commission, etc.) ·
Recruiting, hiring, training, and retention
Type of sales methodology to be used
Quotas, goals, and objectives
Measurement and control
For the CRM section, include a recommended CRM, the capabilities it offers, the estimated cost of the system, and the rationale for why this is the best selection for the venture. In addition, detail the analytics that will be important to managing your marketing and sales efforts.
For the channel strategy section, be sure to do the following:
Describe, in detail, the role each of the five primary activities of the value chain will play in your channel strategy (inbound logistics, operations, outbound logistics, marketing and sales, and service).
Justify the specific intermediaries that will be used in the channel strategy, and explain how they will add value within the value chain.
Explain areas within the value chain where you believe opportunities can be exploited to increase value for the consumer and, thereby, create a competitive advantage.
Discuss whether you would choose traditional marketing or entrepreneurial marketing. What techniques will you use to grow brand value?
This part of the marketing plan should be no less than three double-spaced pages, and the response should be substantive and fully address the project requirements.
Please write objectively from the third person point of view. Avoid writing in the first-person voice (e.g., I and me) and second-person voice (e.g., you and your). In addition to serving as an internal road map, the marketing plan may be presented to investors or financial institutions, so writing in a professional and objective voice is important.
Academic work should always be supported with credible sources. You are expected to perform extensive secondary research as you complete the various elements of this plan. This deliverable should be supported with at least three credible sources. You should complete this project with the same due diligence you would use to reduce risk for your own entrepreneurial venture.
Please use APA formatting and style guidelines (i.e., indentations, spacing, font, citations, references, etc.).
Please use section headings and subheadings that align with the plan requirements. This will serve as an outline to ensure you complete all requirements, and it makes a professional presentation.
Finally, please review the grading rubric so you are aware of all the grading criteria.
