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Indesigning a sales incentive plan for the three sales staff, the mostnecessary aspect is establishing strategies for the organization.Equipping sales persons with ample knowledge on an appropriate timingmight play a significant role, especially in matters concerning withhow and when to treat their customers. The information might affectmy plan design in case the sales persons employ autonomic as well asdiligent strategies. Also, their will to reflect on the company’scompensation strategies on matters regarding difficulties theyencounter during sales might affect my plan.
The rampedcommission is the method that i would use for the purchase oftickets. Ramped commission works by observing the amount of salesmade by the sales person. The more sales made, the more the earningsa sales persons accrue after achieving a set goal. According toMilkovisch & Gerhart (2014), the pooled commission planrecognizes that a sales person works as part of a team. The use of acombined commission plan allows for the sales team to employ equityin rewarding their employees. For instance, it pays the entire salesteam since it plays an increasing role in the success of the businessas advertising sales are dependent on the performance of the team.
Factorsthat influence the dollar amount paid for increases in ticket salesare advertising or marketing and the economy. If the economydeclines, this means that people are not going to buy tickets, butwhen the economy is booming, ticket sales could escalate. In caseswhere marketing or advertising plans are not high enough, the sale oftickets may be little. On the other hand, when advertising andcommercialization strategies are great, then the sale of tickets mayskyrocket.
Milkovich, G., Newman, J., & Gerhart, B. (2014). Compensation .Columbus , OH: McGrawHill/Irwin