Question

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1. How can a business use its customer profile to meet the objective of increasing sales?

2. Explain why a business may decide to increase its product mix.

3. Define ‘customer profile’ and explain two elements that might be useful in creating a customer profile.

4. ‘Any business that fails to conduct a sales analysis will be unable to assess the success of its marketing strategies.’ Discuss.

5. A business has a sales forecast of $90000 but achieves actual sales of only $25000. What does this signify? What should the business do next?

6. Darren runs a garden maintenance business and has carried out a marketing campaign in his own and neighbouring suburbs. Explain how each of the following may help him evaluate the success of that campaign:
a. sales analysis b. market share analysis c. marketing profitability analysis

Answer 1

1. Customer profile is used to increase sales by keeping their demand in mind. Customer traits and requirements are important and used a target for increasing sales.

2. Profitability is the main reason when a company is increasing its product mix.

3. Understand your product, take feedback from customer, observe customer typology.

Step-by-step explanation:

4. The sales analysis is very important for any business. It is important to forecast sales based on demands of customers to ensure sufficient supply of products.

5. Inaccurate sales forecasting leads to decline sales. The company has foretasted $90,000 but in actual it was only able to make up $25,000 of sales. This may be due to some unavoidable circumstances but during forecast such events and seasonal effects should be considered.

6.

Sales analysis is an important factor which helps any organization to meet market demands.

Market share analysis helps the organization to identify where it stands out among its competitors.

Marketing profitability analysis is a process which helps a company to design such marketing strategies which will help to boost its profitability.