Set Sales Goals and Objectives
After they understand themselves, they will need to set goals and objectives for the company’s growth. The goals that they set should be high-level, long-term goals for where they would like to be in approximately two to five years. The objectives that they set will have a shorter time frame and may include specific, quantifiable objectives that will help accomplish the longer-term goals.
Determine the Market Potential
Once the two entrepreneurs at Wild Willie Juiced Drinks have set appropriate goals and objectives for their company, they will need to turn their focus to the market. Wild Willie Juiced Drinks will need to look at the market potential and find the maximum possible sales that the industry is estimated to sale. After that, they will need to look at their internal sales potential for the maximum possible sales for their own company. This data will help them understand how much of a market share they are able to serve and forecast sales according to the gathered data.
Choose and develop a Sales Strategy
Developing a sales strategy is important because it will help Wild Willie Juiced Drinks achieve their overall objectives and develop plan of actions. Since they are trying to sell an already existing product in new markets, it is recommended that Wild Willie Juiced Drinks implement a market development strategy. This will allow them to continue bringing in consistent revenue by selling in their current markets, but also allow them to reach new territories to generate new revenues.
Allocate Resources and Develop Budgets
Due to the limited resources and infrastructure of Wild Willie Juiced Drinks, it becomes extremely important that they identify all of their resources and allocate them properly. Their resources include money, people, materials, equipment, and time. As the resources are identified, they will want to establish sales budgets that will help them meet their goals for projected revenue.
Implement the Plan
After planning out what actions to take, Wild Willie Juiced Drinks will need to implement the plan and follow through with the plans. The upper management of the company can help the rest of the company work more effectively to reach the sales goals by setting objectives (MBO) along with each of the departments so that they are more vested to the plan.
Evaluate and Control
At regular intervals, the Wild Willie management team will need to analyze and evaluate the performance of the company. This can be done by collecting quantifiable performance data and comparing it to different sets of data, such as industry averages, past performance, of managerial expectations. It is left to the management to determine if the performance data is satisfactory or if it needs improvement. If improvement needs to be made, then there should be a quick corrective action aimed to improve the performance.
3. Distribution, Salespeople, Truck Drivers, Organization
If Wild Willie Juiced Drinks can find the capital to expand their business they should develop westward into the United States. Wild Willie Juiced Drinks has seen a lot of success in their tenure in New England. But as soon as the temperature drops, they experience a double-digit decline in sales as consumers change toward warmer beverages as earlier stated. To offset the fluctuation in sales, Wild Willie Juiced Drinks should explore states such as Texas, Arizona and California where temperatures usually stay at a constant. Not only are these states considered the warmest in the U.S., they are also the most densely populated. This will provide the company with more consistent year round sales that they lack in their inventive country New England.
The target markets for Wild Willie Juiced Drinks are young people, students and people “on the go,” so the age the company should aim toward is 16 – 35 year olds. To effectively penetrate these segments they should start promoting at high schools and college’s in highly populated cities. The company should begin with hiring a team of five sales associates at each school to promote their drink. Three employees would be sales promoters and two would be truck drivers, which would provide transportation for the sales associates. This is for each school they begin their business at in the three states previously named. One of the associate’s duties would be to keep track of the company’s finances, another would be to find out all the social events within the given region and the third employee would be to formulate advertising schemes, such as making flyers and t-shirts for Wild Willie Juiced Drinks.
Cal States and UC schools would be a great place to start in California because the students who go there fit the persona of the consumers they want to retail their products to. Setting up tables where they would do blind taste testing with a more popular brand such as Red Bull, would open consumers eyes to Wild Willie Juiced Drinks because most consumers prefer their energy drink over their leading competitors. Also, giving away free beverages to people interested would be a great advertising investment, turning students unknowingly into sales promoters.
Taking into consideration that Wild Willie Juiced Drinks is a relatively new and unknown company, they should first explore small stores to see how well they fair against other better-known energy drink businesses. This is where direct store door delivery comes into play. Once the company gets their name into the industry they can start with going to independently owned convenience stores to sell their products to consumers. After they start becoming a well-known brand within the industry, they should direct store door deliver to more exclusive chain companies so they can reach a wider range of consumers. Of course this is for just initially penetrating new segments, as when they become more established they should be promoting on a much greater scale.
4. Alternative with DSD without large upfront investment
There is an alternative to putting in large upfront investments while still using DSD. Wild Willie Juiced Drinks’ may use independent sales people who sell products that do not compete with each other for companies, these sales people are known as manufactures representatives. The company would first contract local manufacturer’s representatives who would sell the product to their established consumers. By using manufacturer’s representatives who have existing relationships with local retailers, Willie’s will save time and money by not training and establishing its own sales force. Furthermore, to avoid the fixed costs associated with warehousing and shipping, Willie’s can contract independent distributors to provide “direct store door” delivery. These independent distributors sell and deliver other companies products to retailers. This will allow Willie’s to avoid the initial up front cost until the market share obtained can justify the capital expenditures for local company owned distribution centers, trucks, and a dedicated sales force.
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