Hello Everyone!! I need to design incentive plan for my company which is dealing in kitchen equipment. Please suggest what kind of aspects i should consider for the same.
From India, undefined
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From India, undefined
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I believe you "deal" in kitchen equipment of various brands and market/sell them either as a "wholesale dealer" or as a "retailer." If yes,
1. In the first place, you must be thorough with the strengths and weaknesses of your products.
2. You should by now have identified the characteristics and demographics of the targeted area. If your brands allow multiple dealers, meaning other dealers are also competing with you, you should have formulated your strategy to gain a competitive edge.
3. Your strategies should guide you on the composition of your sales team.
4. At this point, you should be able to define your overall product targets, allocate areas to your sales team, and set individual targets for each team member.
5. Your strategies should inform you about the advertising approach needed to reach the targeted families.
6. Alongside the above steps, it is essential to consider how to incentivize your sales team based on local conditions and the economic levels of the targeted population. You should establish benchmark achievements as minimum, moderate, satisfactory, very good, and potential for the future.
7. Based on the above, you need to quantify the achievements above the benchmarked thresholds determined at slab rates or item rates, convert them into currency, and arrange for incentive payments.
From India, Bangalore
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11591. In the first place, you must be thorough with the strengths and weaknesses of your products.
2. You should by now have identified the characteristics and demographics of the targeted area. If your brands allow multiple dealers, meaning other dealers are also competing with you, you should have formulated your strategy to gain a competitive edge.
3. Your strategies should guide you on the composition of your sales team.
4. At this point, you should be able to define your overall product targets, allocate areas to your sales team, and set individual targets for each team member.
5. Your strategies should inform you about the advertising approach needed to reach the targeted families.
6. Alongside the above steps, it is essential to consider how to incentivize your sales team based on local conditions and the economic levels of the targeted population. You should establish benchmark achievements as minimum, moderate, satisfactory, very good, and potential for the future.
7. Based on the above, you need to quantify the achievements above the benchmarked thresholds determined at slab rates or item rates, convert them into currency, and arrange for incentive payments.
From India, Bangalore
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Trainer Brief 1 Developing a Team Training Plan.doc
Incentive Plan.xls