Using market analysis for more effective sales

Finding and acquiring new business is the key to survival for any company. New business is generated by developing and following up sales leads. Most of the time, this responsibility falls squarely on the shoulders of the territory salesperson. However, in order for companies to have their best chance for success, that burden must be shared and managed by the home office. Companies that sell adhesives and potting compounds usually have many different products in a variety of small niche markets. Keeping track of all these markets and their potential prospects may seem to be an overwhelming task for the sales and marketing departments. As a result, they usually depend on experienced salespeople to manage these prospects and their markets. The purpose of this article is to show managers how to manage this task more effectively and why it should be centralized.