In short term, quarterly bonus could be replaced by others such as sales contest. Compensation plan is only an incentive for salespeople. Moreover winner will receive recognition. To achieve ideal effect, the price is 25 percent of quarterly bonus pool two prices account for fifty percent.
In my opinion, quarterly bonus was the short-term incentive and annual commission aimed at long-term performance. Sales Biomed case essay promotes short-term performance and winner can get huge bonus.
Although salespeople might be offensive to new strategy and inept to effectively carry out sales, Chiemchanya has to believe in salespeople and provide them support.
The sales contest will lower the overall payout. The target is no longer the volume, but the combination of volume and price. For example, company can award salespeople who get the highest volume and who get the highest revenue. However, a lot of preparation needed to be done for the new strategy.
The new sales strategy forced salespeople to consider the economies of scale which combined variable costs and volume with a limited range of drugs.
The previous compensation plan was targeted at sales volume. Also a sense of security is important for salespeople. If they resist, Chiemchanya should ask for the reason, rather than persuade. More Essay Examples on Marketing Rubric Since price was still an issue, Biomed went to a new strategy that priced at low-medium to medium with a focus of ten to fifteen drugs.
Therefore this form should not last long. Salespeople fighting in the front line understand current situation better than no others in the company.
A systematical training is needed and salespeople have to display a new image of the company. However, without appropriate training, salespeople cannot effective carry out sales activity and it hinders better performance. Most salespeople receive nothing.
Under such system, the sales target could be only met by selling in a large volume. The first issue was the redesign of compensation plan. Apart from the base salary, salespeople received annual commission and quarterly bonus. At the same time, winner can share with other salespeople. The nature of competition spurs salespeople to sell more and adapt faster.The case study approach allows in-depth, multi-faceted explorations of complex issues in their real-life settings.
The value of the case study approach is well recognised in the fields of business, law and policy, but somewhat less so in health services research.
Based on our experiences of conducting several health-related case studies, we reflect on the different types of case study design.
Biomed Case Analysis Problem: Ponlerd Chiemchanya, the new general manager of Biomed, needs to realign the sales compensation system to fit with the new marketing strategy that Biomed’s parent company, Thai Drugs Co., Ltd., had just revised. (Biomed), the family business in Thailand.
On the other hand, as the new general manager of Biomed, he had some concerns about the first major decisions he was about to make and implement upon his return.
Biomed is a family business which belonged to Thailand drugs Co - Biomed Case Study introduction., Ltd. It could be viewed as a sales agent of Thai Drugs and it sold over kinds of drugs.
35 per cent of Thailand drug market was occupied by local manufacturers in which five giants accounted for. Biomedical Example Paper THIS PAPER MUST BE DONE BY PM NO LATER THAT 12AM TONIGHT Resource: Ch.
1 of Health Care Ethics (6th ed.) Mickey Mantle received a liver transplant in He was a Baseball Hall of Fame center fielder for the New York. Case Study Case study methods involve Systematically gathering enough information about a particular person, social setting, event, or group to permit the researcher to .Download