Marginal Utility
February 7, 2022
Leader and a Manager
February 7, 2022
Executive summary
The following report presents the needs for developing a sales plan of Kraft Foods Australia. For this purpose, ways to review previous sale performance, market segmentation measures, and factors influencing the sales plan timeline are evaluated. Afterwards, consistency of sales plan to objectives in Kraft Foods Australia, required expertise and risks are analysed such as wrong estimation and many others. Furthermore, the report also explores advertising and promotional activities, budget and key considerations for the sales plan’s presentation. It is found that the plan can be executed on a budget of $30000 in the organisation.
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Table of Contents
Information to help inform sales approach and establish market needs for Kraft Foods Australia 4
Evidence to review previous sales performance and approaches impacting the sales performance 4
Market segmentation for sales plan of Kraft Foods Australia 5
Actions to set practical and achievable sales targets 5
Factors influencing timelines for achieving sales targets 5
Measures to monitor performance at Kraft Foods Australia 5
Consistency of sales plan and organizational objectives at Kraft Foods Australia 6
Approaches to meet sales objectives 6
Required expertise for the sales planning process 6
Risk while developing a sales plan and contingency measures 6
Advertising and promotional activities at Kraft Foods Australia 7
Intermediaries to be involved in the distribution of product 7
Considerations while presenting a sales plan for approval 7
Introduction
An organisation’s profitability is significantly affected by the efficiency of its sales plan for a particular business market. Various studies indicate that organisations focus on different elements while developing sale plans, including segmentation of targeted customers, actions for accomplishing goals and objectives and many more (Wetherly & Otter, 2014).
The report explores different elements of the sales plan, which can be considered in Kraft Foods Australia. The report develops an understanding of factors influencing timelines, consistency of sale plan, risks, budget, promotional activities and many more. Also, considerations for presenting sales plan are discussed in the report.
Information to help inform sales approach and establish market needs for Kraft Foods Australia
It is essential to acquire information about the latest trends and choices of products of Kraft Foods Australia’s targeted customers. This information may help determine the products that should be promoted in a particular market (Neves, 2014). Along with this, information such as the capacity to pay is also crucial for the organisation. Such information may indicate potential people, which can be targeted as customers. Also, information on the feasibility of products with the market is needed, which may allow Kraft Foods Australia to acclimatise with market needs.
Evidence to review previous sales performance and approaches impacting the sales performance
The following information is required to review previous sales performance and factors affecting it in Kraft Foods Australia.
- Information about the enhancement or decline in market share of the company is needed to review the sales performance.
- Also, the reason for which targeted customers purchased or not purchased the company’s offered food products can be evaluated (Weinstein & CahillDennis, 2014).
- Satisfaction level of the targeted customers with the food products of Kraft Foods Australia needs to be analysed. In this manner, feedback provided by customers after the sale can be valuable.
Market segmentation for sales plan of Kraft Foods Australia
Market segmentation for Kraft Foods Australia’s sales plans can be based on four major factors, which include categorisation of targeted customers as per their demographic, psychographic, geographical and behavioural information (Baker & Saren, 2010). Marketing teams in the organisation can consider specific products for potential customers lying in these categories. For example, lifestyle, income group and attitude of targeted customers can be analysed that prices of the food products can be set accordingly. This way, market segmentation may allow Kraft Foods Australia to become customer-oriented.
Actions to set practical and achievable sales targets
Determining the timeline is one of the crucial steps while setting goals and objectives for sales improvement in Kraft Foods Australia. For this purpose, marketing managers must collect information from different departments such as production and many more, which may indicate the time for the accomplishment of objectives (Lamb, 2012). Also, information on the capabilities and resource allocation can also be sourced while setting sale targets achievable. Such action may allow the organisation to develop sale targets, which can be accomplished easily.
Factors influencing timelines for achieving sales targets
There can be external and internal factors affecting the achievement of sales target in Kraft Foods Australia. External factors may include disruptive changes in the business environment, such as COVID-19 global pandemic and many more. Along with this, internal factors may also increase the timeline for achieving sales objectives (Wetherly & Otter, 2014). These may be the availability of funds for marketing and promotion purpose and so on. Such constraints may halt sales operations of Kraft Foods Australia and result in delays.
Measures to monitor performance at Kraft Foods Australia
The number of purchase orders placed by targeted customers in the business market can be greatly effective in measuring Kraft Foods Australia’s performance. For this purpose, marketing professionals may evaluate the differences between the number of orders placed before and after implementing the sales plan (Neves, 2014). Along with this, the company’s revenues and profitability before and after the implementation of the plan may also indicate high or low performance.
Consistency of sales plan and organizational objectives at Kraft Foods Australia
It is found from the case study that Kraft Foods Australia is facing significant troubles of low profitability and decline in the sale of offered food products. Existing policies and marketing tactics cannot provide sustainability to the business market (Baker & Saren, 2010). Sales plan and organisational objectives in Kraft Foods Australia aim to enhance the purchase of food products and escalate the interest of targeted customers. Therefore, the plan and organisational objective can be said consistent and feasible in meeting the business goals and enhancing sustainability.
Approaches to meet sales objectives
Promotion and advertising are the main approaches considered in Kraft Foods Australia to meet its sales objectives in the business market. The organisation has immensely focused on enhancing food products’ awareness (Weinstein & CahillDennis, 2014). The company has also considered advertising its services to the customers and induce positive perception towards Kraft Foods Australia. Also, capability analysis is an astounding approach considered in the organisation that may meet sales objectives.
Required expertise for the sales planning process
Several skills and expertise are required for the sales planning process in Kraft Foods Australia. These may include analytical skills to evaluate the trends and statistical figures related to food products’ sale. Analytical may improve the quality of sales plan leading to actions and decisions easily achieved (Fernie & Fernie, 2015). Not only this but, communication skills and knowledge and awareness about targeted market and customers is also essential to sales planners. Additionally, risk evaluation skills are also important as many internal and external risk factors that may affect developing a productive sales plan.
Risk while developing a sales plan and contingency measures
One of the prominent risks associated with developing a sales plan is that of the wrong estimation. Marketing professionals in Kraft Foods Australia may do a wrong analysis of facts and information and make non-fructifying decisions. Also, ignorance of emerging changes in customers’ food choices is a significant risk (Boone & Kurtz, 2013). Allocation of inadequate budget, development of non-achievable targets and wrongful resource utilisation are other risks that may emerge during sales planning in Kraft Foods Australia.
Advertising and promotional activities at Kraft Foods Australia
Marketing managers in Kraft Foods Australia can adopt several activities to advertise and promote the food products, services, and business processes in the targeted markets. For this purpose, social media platforms such as Facebook, Twitter, Instagram, Youtube and many others can be used (Wetherly & Otter, 2014). Advertisement can be developed in digital formats in the company, such as posters, videos, and text messages, circulated on its official social media page. In addition to this, advertisements regarding the product, services, and prices can also be circulated through newspapers, magazines, banners, fliers, and other public places.
Intermediaries to be involved in the distribution of product
Several intermediaries can be involved to distribute the products offered by Kraft Foods Australia in different targeted markets. These may include food delivering applications and organisations such as Uber Eats and many more (Boone & Kurtz, 2013). These intermediaries may contribute to the company’s sales operations as customers in the market may place online orders for the food products of Kraft Foods Australia.
Budget for sales plan
As far as the budget for the sales plan in Kraft Foods Australia is considered, the entire plan can be executed on a budget of $30000. This budget comprises of several activities and approaches associated with the development of the plan. $10000 can be utilised for conducting market research to analyse the food purchase trends in the business market. Along with this, $15000 can be used for developing advertisements and promotional activities associated with the sales plan. These may include the development of advertising material for digital and print advertisements. $5000 can be used for implementation and monitoring of the sales plan in Kraft Foods Australia.
Considerations while presenting a sales plan for approval
Many considerations can be considered while presenting the sales plan of Kraft Foods Australia for approval. It is essential to the presenters to include as much statistical information as possible in the sales plan, including investment likely to be made by the organisation (Blythe, 2013). Along with this, presenters must describe potential risks associated with the activities described in the sales plan. Additionally, feasible solutions to mitigate such risks should also be discussed, focusing on organisational productivity and benefits due to the implementation of the sales plan.
Conclusion
It can be concluded from the report that information such as market trends, factors affecting the timeline of the sale plan need to analyse in Kraft Foods Australia. Various sales objectives and approaches are feasible to the organisation for which expertise such as analytical skills and many others are required. Further, it can also be said that the entire sales plan can be developed on a budget of $30000 for different activities such as market research, promotion and advertising and so on. Some considerations for presenters of sales plans in Kraft Foods Australia can include statistical information, risk analysis and mitigation actions.
References
Baker, M.J. & Saren, M. (2010).Marketing theory: A student text. Los Angeles: SAGE Publications.
Blythe, J. (2013). Principles and practice of marketing. Los Angeles, CA: SAGE Publications.
Boone, L.E. & Kurtz, D. (2013). Principles of contemporary marketing. United States: South-Western College Publishing.
Fernie, J. & Fernie, S. (2015). Principles of retailing. United Kingdom: Routledge.
Lamb, C.W. (2012). Marketing. Toronto: Thomas Nelson Publishers.
Neves, M.F. (2014). The future of food business: The facts, the impacts and the acts. United Kingdom: World Scientific Publishing Company.
Weinstein, A. & CahillDennis, J. (2014). Lifestyle market segmentation. Hoboken: Taylor and Francis.
Wetherly, P. & Otter, D. (2014). The business environment: Themes and issues in a globalizing world. Oxford: Oxford University Press.
Wrigley, N. and Lowe, M. (2014). Reading retail: A geographical perspective on retailing and consumption spaces. London: Hodder Education.
