As an important part of a business organization, a commercial director is deployed in addition to a statutory director. This ensures that the product or service offered obtains a good market position within the potential sales market, so that the company benefits from it. The efforts of the manager have a major influence on the actual results and therefore the action plan also forms an essential basis. What kind of things do people do for the company?
Commercial director duties
- Market insight and processing
- Promote organizational interests
- Sales market planning
- Competitive analysis
- Market penetration
- Remuneration and settlement policy for commercial director
Market insight and processing
To achieve good yields and profits, one must perform many tasks effectively to get products and services to people. There is a certain vision on the basis of which the set corporate objectives must be achieved. To this end, a commercial plan is set up to properly inform consumers about the benefits, qualities and prices of the products offered. To achieve good results within the sales market, a well-thought-out plan must be implemented to achieve maximum results. This includes strategic market insight into what the wishes and demands of consumers are, but also how people respond to product introductions. What does the commercial director do?
Promote organizational interests
The most important objective for a company, company or institution is to achieve profit. Plans must be prepared so that the market is optimally targeted in order to achieve maximum results. The commercial director is at the forefront of this and must direct how the policy is effectively implemented. To this end, knowledge of the sales market must be available and good contact with customers must be maintained. A satisfied customer is a good customer and must of course be listened to. Good contact must be maintained with retailers and major customers, and responses and complaints must be responded to promptly. Listening to what the requirements are and doing something about them ensures that good connections can be achieved. The interests of your own organization are therefore optimally protected by pursuing a targeted customer and buyer policy so that satisfaction scores high.
Sales market planning
To achieve good sales, you need good insight into the sales market. Consumer figures and the level of satisfaction are very important data for the manager. Based on this, it can be determined to what extent products and/or services can be improved, so that sales show good long-term results. In addition, it is important to know what competitors are doing and how additional markets can be approached. Customer loyalty is an important method to ensure that people do not have to worry about other suppliers.
An important aspect within the market is how and what the competitor does. To this end, a concrete competitive analysis (such as SWOT) must be set up so that comparable products can be compared. In addition, it can be assessed to what extent other products perform better or worse. It is also important to know how consumers experience their own products and whether areas for improvement can be identified. On this basis, a strategy can be applied to improve one’s own sales compared to competitors in the market.
With a good sales policy, companies want to make more profits by conquering a larger market share, but also by entering new sales markets. Opportunities must be seized so that more products can be sold through creative ways. Increased turnover ensures more profit and that is beneficial for the commercial policy of the organization. With a strategic approach, one can gain ground through product introductions by entering new markets in a convenient way.
Remuneration and settlement policy for commercial director
Depending on the level of performance and the extent to which corporate objectives are met, the manager can be rewarded or compensated. A good innovative policy involving increased turnover and profit growth naturally offers good prospects for the future. The policy pursued has been the right one and it is being rewarded. However, if the pre-set objectives of the policy are not met, the policy will be held accountable. In the most extreme case, this can also lead to dismissal. This always requires maximum commitment and effort from the commercial team led by the commercial director.
- How is the statutory director appointed?
- A director is responsible for his decisions
- What caused the director’s departure?
- From what point does your company start turning a profit?