What is territory in SAP CRM-MD-TM - Territory Management?

SAP Term: territory

• Component: CRM-MD-TM

• Component Name: Territory Management

• Description: Segment of the market that is defined by attributes to describe its responsibility, for example: Geographical locations for example, by zip codes Products, product lines Directly assigned business partners for example, key accounts User-defined attributes A combination of attributes You can assign a territory to an employee, for example to a sales representative who is responsible for selling in a certain area, or to a service engineer who is responsible for servicing particular equipment.

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• Key Concepts: 
  Territory Management is a component of SAP Customer Relationship Management (CRM) that allows users to define and manage territories for sales and service activities. Territories are defined by geographical boundaries, customer characteristics, or any other criteria that the user wishes to use. Territories can be used to assign sales and service personnel to customers, as well as to track sales performance and customer service activities.
  
  How to Use it: 
  Territory Management can be used to create and manage territories for sales and service activities. Territories can be created by defining geographical boundaries, customer characteristics, or any other criteria that the user wishes to use. Once a territory is created, it can be assigned to sales and service personnel, who will then be responsible for managing the territory. Territory Management also allows users to track sales performance and customer service activities within each territory.
  
  Tips & Tricks: 
  When creating territories, it is important to consider the size of the territory and the number of customers within it. It is also important to consider the resources available for managing each territory, such as personnel and budget. Additionally, it is important to consider how territories will be monitored and evaluated in order to ensure that they are meeting their goals.
  
  Related Information: 
  For more information on Territory Management in SAP CRM, please refer to the SAP Help Portal (https://help.sap.com/viewer/product/CRM_MD_TM/7.0/en-US). Additionally, there are many online resources available that provide tutorials and best practices for using Territory Management in SAP CRM.