Translating Sales Goals into Marketing Plans
Every company wants to grow, which means that the dollar volume of sales should always be higher next year. You can achieve a sales increase in several ways:
• Increase your prices
• Sell more existing products to current customers
• Sell new products to current customers
• Sell existing products to new customers
• Sell new products to new customers
Let’s briefly look at each of these strategies.
Increase Your Prices
A price increase might seem to be the simplest way to increase your sales. All you have to do is raise your prices 5 percent, then sell the same amount of product next year as you did this year, and your sales increase by 5 percent. Great, huh?
There’s only one problem: price ...