Sales and Marketing
Riordan has historical records saved in numerous databases, as well as on paper and microfiche. The company now has a system to track historical sales electronically. In the past, most sales data was recorded using paper and pencil. The data that the system keeps track of include, sales by customer, unit and dollar volume of each product, and dates that include order, delivery, and payment dates by order. In order for Riordan to move forward and stay competitive, they use past marketing plans and results from previous market research studies, which are filed in a filing cabinet in the marketing department. As stated in Riordan’s 2006 sales plan, the company would like to consolidate their information into a Customer Relations Management (CRM) system. A CRM is a system that manages customers and is used as a tool to track everything the company does that relates to its customers. The company has 15-20 major customers and 12 minor customers. Each member of the sales team maintains their own set of customer records using paper and pencil, or sales management software such as ACT. The production plan maintains records of the number of units produced of each item by shift. The marketing department, with the support of the finance and production departments, maintains profit and loss statements, by item and by group. Riordan has historical and current annual budget allocations for marketing communications and marketing research. Some marketing communications activities include sales force promotions, public relations, brand development, tradeshows, and literature. Marketing research expenses include opportunity studies, customer focus groups, and brand development research. Riordan has a plan to reach a $50 million revenue mark within 2 years by increasing sales to existing customers by increasing sales force promotions, price discounts, and customer user group services. They also plan to expand sales to new customers by implementing public...
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