WSQ Sales Target Management | TGS-2020503373

Overview

As a Store Manager, one of the biggest challenges will be achieving sales target given by the management. This module, Sales Target Management, is set out to help achieve this. It is an SSG-approved 16-hour course delivered within a span of 2 days with 14 hours of training and 2 hours of assessment. Applicants may use their SkillsFuture credit to enrol.

Sales target management is about setting of sales goals & targets. As most Store Managers know, goal setting can take a considerable amount of time and setting effective sales goals is one of the most important sales motivation tools in their management. 

With their revenue target strategies, many organisations frequently struggle. Setting unreasonable or unreliable revenue goals can have a significant effect on business results. Not only does it influence the management of operating expenses, but it can also diminish the reputation and sales morale of management, either because goals are regularly underachieved or missed the mark too easily. 

To accurately set sales targets, organisations take into consideration the following, such as:

  • Changes in Business Environment
  • Changes in the Market
  • What Competitors are doing?
  • Changes in customer expectations

By taking into consideration the above factors, organisations will be able to achieve an even more accurate sales forecast and a more attainable sales target.

 

Objectives

Upon completion, participants are expected to have the abilities and knowledge in Technical Skill and Competencies (TSC) at the workplace. These include:

TSC (code): Sales Target Management (RET-SNM-4002-1.1)

Abilities

 

AB1. Set store sales target.

 

AB2. Communicate, drive, and motivate team to achieve sales target.

 

AB3. Monitor and initiate to improve staff productivity.

 

AB4. Review business environment and raise potential changes in store sales target.

 

AB5. Recommend initiatives to support sales target achievement at store in alignment with organisational strategies and objectives.

 

Knowledge

 

KN1. Key elements and features of a sales plan.

 

KN2. Internal factors impacting sales outcomes.

 

KN3. Trends in customer behaviour.

 

KN4. Competitor activities.

 

KN5. Economic activities.

 

KN6. Role of customer feedback in growing sales.

 

KN7. Types of customer traffic generators.

 

KN8. Techniques for growing sales within the retail environment for new and existing customer base.

 

KN9. Types of initiatives and their role in sales (e.g., marketing activities, promotions, social media campaigns, advertising campaigns)

 

 

Learning Outcomes

At the end of the course, learners should be able to:

  • Evaluate and monitor sales target and performance to plan and initiate actions to achieve excellence in sales delivery.
  • Set, analyse, and achieve store sales targets to guide sales performance in the store, evaluate and monitor store productivity against business objectives, as well as identify factors that affect sales operations in store.

 

Instructional Methodology

  • Lecture
  • Discussion
  • Group Activities
  • Presentation
  • Case Study

 

Duration

Training Hours (Synchronous e-Learning)

13.0

e-Learning Hours (Asynchronous)

1.0

Assessment Hours

2.0

Total Hours

16.0  

 

 

•  Version: 1.0

•  Effective Date: Dec 2019

•   Author: Jared Loh

Learning Unit (LU)

Contents

 

Introduction

LU 1

Determine Store Sales Target

1.1

What is a Sales Plan

1.2

Factors Affecting Sales Results

LU 2

Communicating Sales Target

2.1

Sales Target Communication

2.2

Competitor Activities Analysis

2.3

Economic Activities

LU 3

Monitor Achievement of Sales Target

3.1

Tactics to Increase Sales

3.2

Customer Feedback

LU 4

Revise Store Sales Target

4.1

Customer Traffic Generator

4.2

Review Business Environment

LU 5

Support Achievement of Sales Target

5.1

Sales Initiatives

5.2

Recommend Initiative to support Sales Target

 

 

 

Candidates will be assessed for knowledge and skills acquired. As part of the assessment, each candidate is required to:

  1. Complete a Written Assessment
  2. Complete a Case Study Assessment

Candidate will be considered competent when all learning outcomes/evidence are fulfilled as per assessment checklist.

Written Assessment:

  • This is a summative, open-book assessment.
  • The duration for this assessment is 60 minutes.
  • Candidate will be considered competent if he/she is able to answer all questions correctly based on: AB2, AB3, KN1, KN2, KN3, KN4, KN5, KN6, KN8, KN9.
  • Oral inquiry will be used should there be insufficient evidence for this assessment.

Case Study Assessment:

  • This is a summative, open-book assessment.
  • The duration for this assessment is 60 minutes.
  • Candidate will be considered competent if he/she is able to answer all questions correctly based on: ABI, AB2, AB3, AB4, AB5, KN1, KN4, KN7, KN8, KN9.
  • Oral inquiry will be used should there be insufficient evidence for this assessment.

 

 

This synchronous and asynchronous e-learning module is part of the WSQ Diploma in Retail (Retail Operations).

 

 

 

 

 

 

 

 

 

This course material and associated resources are designed and developed by Singapore Chinese Chamber Institute of Business (SCCIOB). Permission should be obtained from SCCIOB prior to any prohibited reproduction, storage in a retrieval system or transmission in any form or any means such as photocopying, recording, electronic, mechanical, or likewise.