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You are a sales manager and you are responsible for tracking a wide range of metrics...

You are a sales manager and you are responsible for tracking a wide range of metrics related to your firm. Explain in which part of the marketing planning process these metrics would be determined and why they are important.

is this operational planning? This is an essay question plz help! Thanks

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Answer #1

Here, being a sales manager, I will be taking responsibility to track a wide range of metrics related to my firm. Let me point out various metrics that should by me, these are as stated below:

  • I will track number of potential deals that closed in the sales pipeline, number of potential deals that are open in the sales pipeline, number of deals that are terminated in the sales pipeline.
  • I will also track how the size of each deal is that available in the sales pipeline.
  • How much time that are covered by each deal in the sales pipeline.
  • I will also track sales revenue and profit margin data over each quarter.
  • I will also track leakage in the sales funnel that will track the data of lead response time and how many follow up contact available over time.
  • I will also track how many leads are buying our products and services and which leads are rejecting the products and services. Here, I will track the reasons or concerns of the lead in such situation.

During the control and review stage or part of the marketing planning process, these metrics are to be tracked and during development of action program, here, we will forecast or determine several metrics. All such metrics are highly important as they need to achieve objective of the company. Such metrics will help them to understand various needed actions and gaps applicable, here, they could understand what they have actually achieved and what they need to achieve further more. Based on determination of such metrics, they could execute their tasks and understand any underlying issues or barriers. Hence, they must determine all such metrics as required for sales team.

Marketing planning could be part of operational planning, as operational activities are repetitive in nature. However, we could execute some project as to derive the new products or services. Project is unique in nature. Whereas operational planning are to be performed that are repetitive in nature.

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