Part A: Sarah, IMS Regional Sales Manager, also needs to establish new sales quotas for her tearn now that the new medical diagnostic Product line is about to be launched. This product expansion should help Sarah's sales team up-sell existing clients and attract additional medical units and hospitals to your customer base. The Canadian Sales Vice President (Bill) has provided the following team objective metrics to Sarah for her selling unit. Increase revenues in your unit's operating territory by 10% (additional $600,000) next quarter (January 1 - March 31, 2021) to cover the additional capital and operating costs associated with the new medical diagnostic product line. o included in this $600,000 increase your team needs to achieve a minimum of $150,000 in sales directly related to the new diagnostic product line, and o Add a minimum of 8 new customers within your unit's overall operating territory to grow the unit's client base. An increase in the unit's selling budget by $11,000 for the next quarter to $28,000, so your team can increase coverage frequency, engage in some special prospecting activity and have some funds for local promotional activity. o This increase comes with a strong warning: do not exceed the budget unless sales hit the incremental sales requirement. The sales unit must also keep any further budget spend above the $28,000 to a maximum spend of 5% of incremental revenues achieved, however that only can happen when the sales person has reached 100% of their revenue target for the quarter. Sarah's sales team consists of 10 existing sales representatives (new reps being added to unit will not be given a quota for this quarter given the fact they will still be going through the onboarding process). The 10 reps have equal size territories, similar sales potential and are all successful meeting existing revenue quotas. Sarah's job now is to use the above information and metrics to create a set of quotas for each of her sales representatives. Part A Question: Use the SMART quota format we learned in class to write out a specific set of quotas, for one of the sales reps on the team (Rep's name is Samantha), that will address the conditions outlined above to ensure you can meet the SMART test. (Part A) / Quota Statement . O Samantha - from January 1 to March 31, 2021 you will need to accomplish the following to achieve 100% of your sales quota: Minimum of total sales $600,000 for the 3 months period To achieve this minimum revenue target, you will need to secure a minimum of $150,000 in sales directly related to the new diagnostic product line To grow the unit's client base, you will need to add at least 8 new customers within your unit's overall operation territory this quarter. Note: It is recommended that you generate a requirement budget unless sales hit the incremental sales goal. The sales unit must also keep any further budget spend above the $28,000 to a maximum spend of 5% of incremental revenues achieved, however that only can happen when the sales person has reached 100% of their revenue target for the quarter. o Part A: Sarah, IMS Regional Sales Manager, also needs to establish new sales quotas for her tearn now that the new medical diagnostic Product line is about to be launched. This product expansion should help Sarah's sales team up-sell existing clients and attract additional medical units and hospitals to your customer base. The Canadian Sales Vice President (Bill) has provided the following team objective metrics to Sarah for her selling unit. Increase revenues in your unit's operating territory by 10% (additional $600,000) next quarter (January 1 - March 31, 2021) to cover the additional capital and operating costs associated with the new medical diagnostic product line. o included in this $600,000 increase your team needs to achieve a minimum of $150,000 in sales directly related to the new diagnostic product line, and o Add a minimum of 8 new customers within your unit's overall operating territory to grow the unit's client base. An increase in the unit's selling budget by $11,000 for the next quarter to $28,000, so your team can increase coverage frequency, engage in some special prospecting activity and have some funds for local promotional activity. o This increase comes with a strong warning: do not exceed the budget unless sales hit the incremental sales requirement. The sales unit must also keep any further budget spend above the $28,000 to a maximum spend of 5% of incremental revenues achieved, however that only can happen when the sales person has reached 100% of their revenue target for the quarter. Sarah's sales team consists of 10 existing sales representatives (new reps being added to unit will not be given a quota for this quarter given the fact they will still be going through the onboarding process). The 10 reps have equal size territories, similar sales potential and are all successful meeting existing revenue quotas. Sarah's job now is to use the above information and metrics to create a set of quotas for each of her sales representatives. Part A Question: Use the SMART quota format we learned in class to write out a specific set of quotas, for one of the sales reps on the team (Rep's name is Samantha), that will address the conditions outlined above to ensure you can meet the SMART test. (Part A) / Quota Statement . O Samantha - from January 1 to March 31, 2021 you will need to accomplish the following to achieve 100% of your sales quota: Minimum of total sales $600,000 for the 3 months period To achieve this minimum revenue target, you will need to secure a minimum of $150,000 in sales directly related to the new diagnostic product line To grow the unit's client base, you will need to add at least 8 new customers within your unit's overall operation territory this quarter. Note: It is recommended that you generate a requirement budget unless sales hit the incremental sales goal. The sales unit must also keep any further budget spend above the $28,000 to a maximum spend of 5% of incremental revenues achieved, however that only can happen when the sales person has reached 100% of their revenue target for the quarter. o