| The success of any organization depends on its | | | | These refer to the product mix, price mix, place |
| ability to sell its products or services. The profits | | | | mix and promotion mix. Product mix refers to the |
| or revenues earned from sales play an important | | | | manufacture of a particular product. The product |
| role in fuelling the growth and development of the | | | | should be manufactured keeping in mind a number |
| business. Intense competition has made it | | | | of factors such as consumer requirements, |
| important for companies to draft a suitable and | | | | market conditions and availability of substitutes. |
| efficient sales strategy. A successful sales | | | | Production costs should be minimum while the |
| strategy proves to be an effective tool in the | | | | quality presented should be optimum. Price mix |
| hands of businesses to ward of and survive | | | | refers to the cost at which the product should be |
| competition. The sales strategy employed by a | | | | sold. Determining a commodities price plays an |
| company plays an important role in the success | | | | important role in its success. It is a scientific |
| and growth of the company. Lack of a suitable | | | | procedure, which requires a great deal of planning |
| sales strategy can prove to be extremely | | | | and consideration. The price of the product should |
| disastrous for a company. It would lead to an | | | | cover all the expenses incurred in its manufacture. |
| increase in the liability of the company in the form | | | | At the same time it should also be appealing to |
| of unsold closing stocks. An effective sales | | | | the final consumer. Place mix refers to the |
| strategy ensures that the goods produced buy | | | | location in which the product is being introduced |
| the company finds a ready and available market. | | | | and promotion mix refers to the tactics involved |
| It brings together the factors of demand and | | | | in advertising the same. |
| supply thus facilitating equilibrium in the market. | | | | As such, the following factors need to be |
| The marketing team of any company basically | | | | considered while planning an effective and |
| concentrates on the four P's of a sales strategy. | | | | successful sales strategy. |