Literature Review on ?Sales Incentive Plans"

Literature Review (Name (University (Course (Tutor (Date

Abstract

Sales incentive plans have been used by companies to motivate their sales teams and ensure they achieve the sales targets and objectives as they also get rewarded . The topic of sales incentive plans has been discussed widely by several authors . These authors have highlighted the importance of the incentive plans in companies , the different types of sales incentive plans in practice today as well as the methods used to evaluate the plans to ensure they remain effective . The topic has been extensively covered

with authors giving their own perspectives of the plans and how they are used in business

Table of Contents

TOC \o "1-3 " \u Abstract PAGEREF _Toc0 \h 2

Table of Contents PAGEREF _Toc1 \h 3

1 .0 Introduction PAGEREF _Toc2 \h 4

2 .0 Sales Incentive Plans PAGEREF _Toc3 \h 5

2 .1 Importance of Sales Incentive Plans PAGEREF _Toc4 \h 6

2 .2 Types of Sales Incentive Plans PAGEREF _Toc5 \h 7 (a ) Straight Salary Incentive Plan PAGEREF _Toc6 \h 7 (b ) Straight Commission Incentive Plan PAGEREF _Toc7 \h 10 (c ) Combination Compensation Incentive Plan PAGEREF _Toc8 \h 12

2 .3 Evaluating Sales Incentive Plans PAGEREF _Toc9 \h 15

3 .0 Conclusion PAGEREF _Toc0 \h 16

References PAGEREF _Toc1 \h 17

Introduction

Businesses are always undergoing significant changes with most of them facing increasing pressure to increase their output and improve their productivity . In order for them to remain competitive they need to boost their profits through increasing...