Sales Management Quiz 1 – Flashcards

placing the customer first in everything inside and outside the firm.

is done by having a customer centric firm. Involves three things (1) Understanding your customer requirements (2) Getting knowledge from the marketplace and disseminating to employees within the firm (3) Align system capabilities internally so the organization responds with satisfaction generating product and services

Idea that in order to do your job well you need to satisfy internal and external customers.

- is the center of the model for customer centric organization - focus on obtaining customer loyalty, - see how much you need to invest in customer.

(1) Do not know the customers business or industry - don't want to go in there and insult customer by not knowing information about his business. Then you will not understand his or her needs and offer products that are not useful for him. (2) Lack of empowerment to do things - need to have the power to fix things on the spot, and not act like the victim and say that corporate is not allowing you to do this. e.g.. Marriot gives a certain budget to fix things right away. (3) Bring Problems Not Solutions - You want to make sure that you have everything ready when you go in and not bring problems up in the last minute without a way to fix it. If you know that a product might be back ordered offer option 1, 2, 3 to your customer to help solve the dilemma. (4) Don't waste their time - if you don't have any reason to be there don't b e there. their time is important and valued and so is yours so you can't go wasting it around. they won't see you if you waste their time.

1) Think of yourself as a marketer 2) Embrace new idea 3) Focus on Helping 4) committed to presentation improvement 5) have an attitude and vision of improving customer relations 6) Look to the customer for solutions 7) look towards bringing the customer closer into a partnership model

is the engine that drives success in building maintaining, and securing long term profitable customers. Furthermore, technology has aided in providing information to the salesperson and allowing to aide relationship selling through CRM.

is the set of skills, strategies and sales processes that meets the needs of customers who are focused only on price and convenience. Does not add any value to the product besides price. It saves the amount of time, money and resources the selling firm has to put into a product by stressing on price. Dangerous in that if thats the only value you have then a competing firm can take away your business by using price as their motivator and taking away your customer.

is the set of skills, strategies and sales processes that meets the needs of customers who are willing to by for a sales force that can provide value beyond the actual product itself. Consulatative selling creates value in three ways (1) it helps the customer see problems, ideas and opportunities in new ways (2) helps the customer come up with solutions in new ways (3) salesperson acts as an advocate within his firm for the customer and is able to solve problems. In this sale listening is an important skill more than persuasion. Your focusing on coming together and creating a relationship with your customer.

deals with an organization.set of skills, sales processes and strategies that meets the needs of customers who demand an extraordinary amount of value besides the product. Their primary goal is to utilize the selling firms corporate assets to help strategically direct their firms direction, not the sales person and their product. Demands an lot of time investment and should only be done with certain customers. Furthermroe , it is usually a very complex sale and involves cross-functional teams from both sides.

ethics are morals and standards that guide behavior. they are influenced by a societies values. there are two ethical dilemmas that we are dealing with. (1) the sales person and the customer. in this situation the sales manager is indirectly involved since he or she can not scuff everything out. Then there is the Sales manager and his team. he/she is expected to be respectful and fair in hiring, creating terrortoires handing out rewards ect.

(1) Prospecting and first sales call- prospecting is identifying very likely potential profitable customers for your firm. a stream of prospects is necessary for the growth of your firm. Nowdays CRM has enabled organizations to identify prospects easier. After you identified you need to prepare for your first sales call. (2) Communicating the message- then you need to communicate the sales message. In transactional selling your message is based around the price which is harder. In relationship selling the focus is on building a relationship with the customer. Trying to show the benefits and value that they can receive from your product. Relationship selling is focused on solution selling (3) Negotiating a win win- your going to need to handle objections. This is not a bad thing necessarily and can be a sign of interest in your product. Need to negotiate a win win scenario. (4) Closing and following up the sale- closing is important part of the processes when you ask for the commitment from the customer. there are different closing techniques. harder to close with transactional selling but it comes more natural with relationship selling. Important to follow up. follow up improves perceptions of service and communication. deal with over delight or giving more than the customer expected or dissatisfaction (5) Self Management- there is a lot of autonomy given within a sales job it is important that you manage your relationships with your customers.

1) Motivation: is the amount of effort that a sales person puts in the tasks that he or she is doing. It is the basis of expectancy theory or the amount of effort in a task will create a certain level of reward. 2) Recruiting and selection: since sales has been changing from transactional to relationship selling a lot of focus has been on what characteristics are good in hiring new sales people. Key success factors are an important characteristics in a sales person, -> well organized, listening skills, adaptive skills, tenacity, verbally communicative, profiency with speaking to everyone within the firm, personal management, handling objectings, closing and following up skills. (3) Training and development: you can't expect your sales people to go out into the world and start selling so you need to train them or give them the required skills to go out and perform their job. development deals with allowing them to obtain an idea on how to achieve his or her career goals. (4) Compensation and incentives: Compensation are monetary while incentives are non monetary. Need to apply this to team selling also not just personal selling. (5) Evaluation- need to evaluate a salesperson to make sure he or she is doing his or her job correctly. harder to do this with team selling.

Fish get high smoking potent reefer (1) Financial Resources- need to have a financial base in order to do business, and develop new products. sometimes if you do not have this you might need to sign on with another company to gain this base. (2) Goals, objectives and cultures- provides a them within the firm to promote a corporate culture. In terms of relationship selling a lot of the most successful firms have an internal focus on building relationships with the customer. (3) Human Resources- in need of hiring people sometimes there is a shortage so you might need to hire people that are outside the firm, or insourcing. important in determining who to hire. (4) Service capabilities- providing high quality service gives you a competitive advantage over your competitors. use this in your value proposition. (5) Production and supply chain- determines if you are able to do business with your customers because sometimes your production facilities are to far away. an supply chain is important in being able to bring value to your customers by brining products i na timely matter. (6) R/D and Technological capabilities- important because determines if you will be an industry leader or follower.

Es LTN 1) Economic environment- deals with how many competitors you have, the gdp of the country you are in. 2) Socio-cultural- a country's values are important for doing business. for example usa with security. (3) Legal political- need to know the political and legal laws in a country in order to do business. 4) Technological enviornment 5) Natural Environment