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First of all identify and choosing the strategic route, that could be: Defense strategy and/or Penetration strategy.If the strategic option is to defend the won market share, the actions to be taken are as follows:- modification of the product, adding new services, change of packaging, product repositioning through advertising-concept;- consolidation of the distribution network;- increased promotional activities;- Defensive pricing strategy by adopting price controls.
If the goal is to increase the turnover by 10% within a given product-market without changing the product portfolio, the company can take one of three paths:- contact determinedly non-users of the product through promotional activities that invite to a purchase of test;- encourage irregular users to become loyal customers, by offering a subscription coupled with a reduction in price;- increase the quantity consumed at every use proposing larger packs.
The most effective way of dealing with the changing Market Trend is to keep on doing research on future market requirement. We need to be fore active rather than pro active.
As the modern market is tend to be more scientific & demanding we should keep on improving the quality of product , delivery & service .
I should say that one should be one step ahead of future market requirements & should keep on doing R&D to innovate products to meet the changing product requirements. It can be very well done by talking to the customer / end users of the product & doing lot of research on available products based on latest requirements / technologies etc.
Set up a new sales plan? For me, it does not need to set up new, just improve and innovate the existing sales plan in accordance to the new trends. Make the existing plan align with the new trends.
do researchers on the new trends, and communicate with the team on setting a new way to add more points to the actual sales plan to match the upcoming trend and trends that come at any time to the market
Sudden change in the market may be due to requirenment of the consumers changes or the new schemes or markeing stratergies by competitors.Will understand what it is exactly and match our product to consumer requirenments or our scheme as per market scenario.
Market trend does not changes suddenly; it always allow us to understand the situation in advance.
Anyhow the best policy is under this circumstances, simply avoid the panic situation. And strongly focused on existing customers and keep Strengthen their core values by providing quality product with top support.
Being a best sales team set a common goal with existing solutions as compare to competitors. And in parallel keep engage TOP MANAGEMENT and discuss the available solutions in a quick time.
According to me when a sudden change happed in the market we should plan a market stategy as per the chnage. First of all understand the market situation through a proper RCPA (market Survey). Then we have to equip the field force to realise the sutuation which happend in the market and train them properly which will help them to improve their confidence. Next we have to modify our product as per the market demand. Then start reserch to develop new product for future developments. If we do such practice, defenitly we can survive the changing situation and develop the business in future.
Before setup a new sales plan because of sudden change in the market trend. We will study first that what type of change is done in the market and what effects we have on our sales due to these changes. After research and study the whole market scenario that due to these changes whats needs, wants of our target customer changes. We will deep analyze those factor that are directly effected for sudden change in the market. Or my whom our sale is effected. According to that we will design or plan the new strategy that will minimize the effect of new change and will increase the sale in the market.
If there is a question about the affiliated customer relationships I make a plan and a presentation also roadmap on how the new one will be brought to them in a high quality and efficient way, and I will tell you what benefits it is. For new customers i will lead our teram to plan and make presentation to customers what they get for that new innovation and bild roadmap
Analyse the new market trend and how it will impack on your specific market or industry.
Sometimes a new market trend is short lived and not worth all the changes if your previous sales plan was effective.
If you are achieving your targets currently then rather add the extra stream to your existing sales teams scope and targets.
Structure it in such a way that you can compare the revenue on your existing income and the new market trend on a daily/monthly report.
Should the new market trend exceed your current sales plan after a few months, then you know that you have made a informed decision not to just waste recources on changes but it was for the better.
I think i have to research everyday in order to have a sales plan
