Growth and increasing sales

Question 1

What are the 3 steps for growth and increasing sales?

Answer 1

1. Learn about the company and its size, resources and products
2. Investigate the industry
3. Consider ways to increase sales

Question 2

How to investigate the industry (3)

Answer 2

1. Is it growing?
2. How is the client growing compared to the industry?
3. Are the client prices in line with its competitor?

Question 3

What is a great clarifying question?

Answer 3

1. By what rate have the revenues grown for the last three years and do you have any forecast?

Question 4

Increase volume/revenue (8)

Answer 4

1. Expand the number of distribution channels
2. Increase product line through diversification
3. Analyse segments of the business with the highest future potential and margins
4. Invest in a marketing campaign
5. Acquire a competitor
6. Adjust prices
7. Create a seasonal balance
8. Find niches