Sales MNGT Ch. 1 – Flashcards
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sales management
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the planning, organizing, leading, and controlling of personal contact programs designed to achieve the sales and profit objectives of the firm
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responsibilities of sales manager
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achieve or exceed performance goals and develop the people reporting to them
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MKTG Mix
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Promotion-> Personal Selling-> Sales MNGT
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sales management activities
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planning, budgeting, training, motivating, compensating, recruiting/selecting, evaluating performance, designing territories
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competition; customers
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Marketplace changes in _______ and _______ consequently change the selling process.
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competition
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Globalization, shorter product life cycles, and proliferation (blurring of marketing boundaries) increase....
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suppliers; expectations; power
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Customer developments include fewer _____, rising _____, and increasing ______.
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solutions selling; sales team; inside selling; productivity metrics
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The selling process adapts to marketplace changes by: (4 separated by ; )
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solutions selling
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involves creating customer value by addressing important customer problems and opportunities through a supplier-customer relationship that is much more intimate than that of traditional transactional selling
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management; collaborative partners; solutions; people
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Solutions (Relationship) Selling differs from Transactional: emphasis on _____ skills, engage customers as ________ ______, sell customer ______, differentiate through ______, focus on CLV, and act as a trusted business advisor. (separated by ; )
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sales teams (buyer-seller interface team)
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allow for a broader transfer of capabilities and communication (rather than filtering through one salesperson like that of a traditional buyer-seller interface)
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prospecting; closing; providing customer solutions
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Inside selling (sales network) is the need of 3 separate networks for: 1. ________ (precise/timely info) 2. ________ (secure meeting with key decision makers by developing inside network) 3. _____ _____ _____ (rarely can come up with complete solution alone)
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Productivity Metrics
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not all sales are equally profitable; profitability depends on: -time takes to complete sale -GM associated with sale -level of price discounting -amount of promotional support -amount of post-sale support -potential for future sale
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Sales Management Process
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-focus on BIG PICTURE -ROLES of sales force -STRUCTURING sales force -building SALES COMPETENCIES -LEADING sales force
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sales management competencies
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a set of knowledge, skills, behaviors, and attitudes that a person needs to be effective in a wide range of industries and various types of organizations
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strategic action, coaching, teambuilding, self-mngt, global perspective, technology
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Name all six sales mngt competencies.
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industry; organization; strategic actions
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Strategic Action Competencies include the dimensions of understanding the _____, understanding the _____, and taking _____ _____. (separated by ; )
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understanding the industry
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involves understanding the history/general trends in industry and their implications for the future; staying informed of and anticipating actions of competitors and strategic partners; and identifying attractive market segments and their buying needs
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understanding the organization
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involves understanding the vision, overall strategy, and goals of the organization; appreciating the distinctive competencies of the organization with respect to market opportunities and limitations; and understanding how to marshal organizational resources to meet the needs of the customers
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taking strategic action
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involves assigning priorities and making decisions consistent with firm's mission/strategic goals; implementing specific account selection, retention, and dominance strategies; developing appropriate portfolio of account relationships; considering LT implications of actions; and establishing tactical/operational goals
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verbal feedback; role modeling; trust
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Coaching Competencies include the dimensions of providing _____ _____, _____ _____, and _____ building. (separated by ; )
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providing verbal feedback
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involves providing specific/continuous performance/selling skills feedback; showing appreciation/recognition by acknowledging jobs well done, extra effort, and important victories; and reinforcing success/nice-tries
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role modeling
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involves leading by example; providing role models (self or others) and sharing best practices; and modeling professional attitudes/behaviors
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trust building
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involves good rapport with sales team, open communication, collaboration, creativity, initiative, and risk taking; share relevant selling experiences; help salespeople "look good" through two-way communication
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teams; supportive; dynamics
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Teambuilding Competencies include the dimensions of designing _____, creating a ______ environment, and managing team ______. (separated by ; )
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designing teams
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involves implementing organizational architecture; reward system that's fair within context of team effort; coordinate team goals with overall organization's goals; and coordinate team activities with requirements of functional areas within organization
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creating a supportive environment
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involves hiring people successful in team environment; training programs that encourage teamwork; and integrating individual members of sales team forming a functional supportive team
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managing team building
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involves understanding strengths/weaknesses of team members; and facilitating cooperative behavior and keep team moving towards its goals
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integrity; ethical; drive; self-awareness
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Self-Management Competencies include the dimensions of fostering ______ and ______ conduct, managing/balancing personal _____, and developing _____-______ and management skills.
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fostering integrity & ethical conduct
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involves clear personal standards of integrity & ethical conduct; projecting self-assurance; and being willing to admit mistakes and accept responsibility for own actions
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managing & balancing personal drive
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involves seeking responsibility, hard work, & will to take risks; show perseverance with obstacles & bounces back from failures; ambitious & motivated to achieve objectives, but puts org. first; and understands goals are achieved through success/development of salespeople
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developing self-awareness & management skills
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involves clear personal/career goals and knowing own values, feelings, and strengths/weaknesses; analyzing/learning from work/life experiences; and will to continually unlearn & relearn as changing situations call for new skills/perspectives
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cultural; global
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Global Perspective Competencies include the dimensions of _____ knowledge and sensitivity, and adapting ____ selling programs.
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cultural knowledge & sensitivity
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involves staying informed of political, social, & economic trends/events worldwide; recognizing impact of global events of the market and org.; sensitivity to cultural cues & ability to adapt quickly in novel situations; traveling regularly and having basic business vocabulary in language relevant to the position
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adapting global selling program
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involves adopting appropriate sales force architecture for global accounts; appropriately adjusting sales force measurements, competency creation, & motivation systems to the local culture; and appropriately adjusting ones own behavior when interact/manage people from various national, ethnic, or cultural backgrounds
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technology; automation
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Technology Competencies include the dimensions: understanding of new _____, and implementing sales force _____.
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understanding of new technology
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involves awareness of potential for technology to increase sales force efficiency/effectiveness; experience in using new technology; and attitude toward adopting new technology
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implementing sales force automation
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involves knowing what's to be accomplished/benefits from it; adapting personal managment style/procedures; and fostering sales force acceptance & use of selling technology
