You have been named the national sales manager of a small distributor that sells products to electronics retailers. You know this is a highly competitive field. You decide you need a reward system for your sales staff in addition to their compensation. You present your idea to the executive vice president of marketing who agrees and asks you to develop a reward program and present it to leadership. Prepare a PowerPoint presentation of at least 10 slides, not including the title and reference slides. Include at least two additional peer-reviewed outside sources in addition to your textbook.
Your presentation must address these elements of your reward plan:
- three objectives your plan is designed to accomplish,
- the primary elements of your plan—one being a sales contest,
- a description of the plan for the salesforce,
- the rules for the sales contest (e.g., How will you select the winner or winners? What is the prize?), and
- a way to evaluate the effectiveness of the plan.
Your presentation should describe how this contest will motivate the salespeople using the key components of motivation, identify potential issues that could arise due to the contest and how those issues will be handled, and discuss how the contest follows the guidelines for motivating and rewarding salespeople.