Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Salesforce
test 1
| Question | Answer |
|---|---|
| strategies for effective sales management . | Focused on customers (strategy oriented), attract, keep, & develop sales talent (employees that last), leverage technology (communication) |
| Corporate Mission | provides direction for strategy development and execution throughout the organization. Simple, complete, communicated |
| Stars: | High growth & share, profit potential |
| Define market share objectives - Build | Build: build sales volume, secure distribution; call on prospective and new accounts; salary plus incentiveHold: maintain sales volume, consolidate market; call on targeted current accounts; salary plus commission or bonus |
| Harvest: | Reduce selling costs, target profitable accounts; call on and service most profitable accounts; salary plus bonus |
| Differentiation | compete on non-price benefits, great customer service, seek not low priced shoppers (Best Buy, Apple, Harley Davidson, IKEA) |
| Niche: | Serve a distinct target market, provide excellent customer service, not low priced shoppers (Rolex, Ritz-Carlton Hotel, etc) |
| Sales Strategy Framework examples of the account level components | buying situation, buying center, organizational buyer behavior, buying process, and buying needs). |
| Know terms, definitions, and examples of the salesperson level components | account targeting, relationship, sales, sales channel, selling strategy). |
| Specialization: | certain individuals concentrate on performing some of the required activities to the exclusion of other tasks |
| Low-Cost Suppliers: | pursue large customers, minimize costs, compete on price (ex: Wal-Mart, Kia, CostCo) |
| Divest/Liquidate: | minimize selling costs and clear out inventory; dump inventory, eliminate service; salary |
| Question Marks | High growth, low share, build into stars |
| Cash Cows: | Low growth, high share, established, successful SBU’s Dogs: Low growth & share, low profit potential |
| Strategic Business Units: | to divide the corporation into parts to facilitate strategic analysis and planning. Important element of corporate strategy |
| various market share objectives (hold, ) | maintain sales volume, consolidate market; call on targeted current accounts; salary plus commission or bonus |
| Specialization: | certain individuals concentrate on performing some of the required activities to the exclusion of other tasks |
| Centralization: | the degree to which important decisions and tasks are performed at higher levels in the management hierarchy |
| Span of Control: | the number of individuals who report to each sales managerLine sales Management: direct responsibility for a certain number of subordinates and report directly to management at the next highest level in the sales organiz |
| sales organizational design/structures: Staff Sales Management: | Staff Sales Management: are responsible for certain functions and are not directly involved in sales-generating activities. (recruiting, selecting, training, etc) |
| sales organizational design/structures: Geographic: | assigned a geographic area and are responsible for all selling activites to all accounts within the assigned area. (adv. Low cost, no geographic/customer duplication, fewer mgnt levels. Disadv. Limited specialization, lack of mgnt control) |
| sales organizational design/structures: Product: | specializing by product assign sales-people selling responsibility for specific products or product lines. (adv. Become experts in product attr & applications, mgnt control over selling effort. Disadv. High cost, geographic/customer duplication) |
| sales organizational design/structures: Market: | assigned to specific types of customers and are required to satisfy all needs of these customers (adv. Better understanding of unique customer needs, mgnt control over selling allocated to different markets. Disadv. High cost, geographic duplication) |
| Functional: | require a number of selling activities (adv. Efficiency in performing selling activities. Disadv. Geographic/customer duplication, need for coordination) |
| Identify objectives of salesperson recruitment and selection | Determine present & future needs in terms of numbers & types of salespeopleMeet the company’s legal & social responsibilities Reduce the number of under qualified or overqualified applicants Increase the number of qualified applicants |
| Job Analysis: | investigation of the tasks, duties, and responsibilities of the job |
| Job Qualification: | the aptitude, skills, knowledge, personal traits, and willingness to accept occupational conditions necessary to perform the job |
| Job Description: | a written summary of the job |
| Internal: | Employee referral programs, internships |
| External: | advertisements, private employment agencies, colleges and universities, job fairs, professional societies, computer rosters |
| Initial: | brief, lasting less than an hour. Recruiter clarifies questions about the job qualifications and makes preliminary judgment about whether a match exists between the applicant and the company. |
| Intensive: | involves multiple sequential interviews by several executives or several managers at the company’s facilities. |
| Stress: | designed to put job candidates under extreme, unexpected, psychological duress for the purpose of seeing how they react |
| Background Investigation: | it is advisable to request job-related information only and to obtain written release from the candidate before proceeding with the investigation. Be cautious of references |
| the Sales Training Process Model (steps/stages of) | 1.Assess sales training needs 2.Set training objectives 3.Evaluate training alternatives 4.Design sales training program 5.Perform sales training 6.Conduct follow-up and evaluation |
| the methods used for assessing training needs | Salesforce audit, performance testing, observation, salesforce survey, customer survey, job analysis |
| typical sales training needs | Sales techniques, product knowledge, customer knowledge, competitive knowledge, time and territory management |
| Examples of training objectives | Increase sales or profits, create positive attitudes and improve salesforce morale, assist in salesforce socialization, reduce role conflict and ambiguity, minimize salesforce turnover rate, improve teamwork, |
| Advantages and disadvantages of internal versus external training | Internal: adv. Sales managers and senior salespeople are aware of the job requirements, can go on sales calls w/ them, simplifies control and coordination tasksExternal: new ideas and methods |
| identify various sales training methods | lassroom/conference training, on-the-job training, behavioral simulations (role plays), absorption training |
| Understand the various types of sales training media used | Electronic media (allows trainee to work at own pace, internet) video conferencing (online chat, avoids travel costs), sales training software |
| compare four ways/methods that managers can evaluate the effectiveness of sales training. | Reaction: how do people feel about the training Learning:tests, pre/post tests Behavior: observational (role play, go on sales calls w/ you, etc) Results: look at sales results before/after training |
| Sales Leadership: | the ability to influence others to achieve common goals for the collective good of the sales organization and company (higher up in organization, long term goals of organization) |
| Sales Management: | activities related to the planning, implementing, and controlling the sales function (proactive, processes) |
| Sales Supervision: | activities related to working w/ sales subordinates on a day-to-day basis. (more reactive) |
| Transactional Leadership: | contingent reward or contingent punishment orientation (provide rewards and punishments |
| Transformational Leadership: | an orientation toward inspiring subordinates to engage in desired behaviors and perform at high levels |
| Leader-Member Exchange (LMX) model: | focuses on the relationships in each salesperson – sales manager dyad. LMX proposes that sales mangers interact uniquely w/ individual salespeople rather than employing a specific leadership style for each situation. |
| escribe types of power present in interpersonal relationships.1 | Expert: person has valuable knowledge or skills in a given areaReferent:attractiveness of one party to another. May arise from friendship, role modeling, or perceived similarity of personal background or viewpoints |
| escribe types of power present in interpersonal relationships.2 | Legitimate: power based on position (CEO has more power than sales manager)Reward: the ability of one party to reward the other party for a designated actionCoercive: one party can remove rewards and provide punishment to affect behavior |
| Anticipation: | Seek Feedback: from customers, salespeople, and other important sources regularly |
| Diagnostic: | Be able to determine the specific nature of the problem or opportunity to be addressed |
| Selecting & Matching: | select appropriate leadership responses to match the situation |
| Communication: | effective leaders deliver clear, timely information through appropriate media or interpersonal communication |
| salespeople Apathetics: | (low commitment, low involvement in selling jobs) biggest problem for managers |
| Institutional Stars: | highly committed to the organization and highly involved in their selling jobs (managers would prefer these the most) |
| Corporate Citizens: | highly committed to the organization but who do not strongly identify w/ their selling roles |
| Lone Wolf: | (high involvement, low commitment) enthusiastic about their selling jobs but aren’t bound to their organization |
| Direction: | salespeople choose where their efforts will spent among various job activities |
| Persistence: | amount of mental and physical effort put forth by the salesperson |
| Persistence: | salesperson’s choice to expend effort over time, especially when faced w/ adverse conditions |
| Intrinsically motivated: VS Extrinsically Motivated: | Intrinsically motivated:find their job to be inherently rewarding (interesting, challenging work)Extrinsically Motivated: motivated by the rewards provided by others (pay and formal recognition) |
| Compensation: | those that are given in return for acceptable performance or effort. Can include nonfinancial compensation such as recognition and opportunities for growth and promotion |
| Noncompensation: | include factors related to the work situation and well-being of each salesperson (interesting, challenging work, managers providing performance-enhancing feedback) |
| identify the elements of an optimal salesforce reward system. | Provide an acceptable ratio of costs and salesforce output in volume, profit, or other objectivesEncourage specific activities consistent with the firm’s overall, marketing, and salesforce objectives and strategies. |
| Straight Salary: | Sales trainees; sales support) Adv. Simple to administer, easy to budget, customer loyalty enhanced, more control over non-selling activities. Disadv. No financial incentive, pay based on seniority often, salaries can be a burden if company not doing well |
| Straight Commission: | (real estate; insurance; wholesaling; securities; automobiles) Adv. Income linked to results, strong financial incentive, costs reduced during slow sales Disadv. Difficult to build loyalty, less control of nonselling activities |
| Combination: | (widely used – most popular type of financial pay plan)Adv. Flexibility, may attract high-potential but unproven recruits. Disadv.Complex to administer, may encourage crisis-oriented objectives |
| Sales Contests: | temporary programs that offer financial and/or nonfinancial rewards for accomplishing specified, usually short-term objectives. |
| the BCG Growth-Share matrix as a tool to evaluate SBU strategy. | Stars: High growth & share, profit potentialQuestion Marks: High growth, low share, build into starsCash Cows: Low growth, high share, established, successful SBU’sDogs: Low growth & share, low profit potential |
Created by:
tmiller23
Popular Business sets