Sales MNGT Ch. 1

Flashcard maker : Lily Taylor
sales management
the planning, organizing, leading, and controlling of personal contact programs designed to achieve the sales and profit objectives of the firm
responsibilities of sales manager
achieve or exceed performance goals and develop the people reporting to them
MKTG Mix
Promotion-> Personal Selling-> Sales MNGT
sales management activities
planning, budgeting, training, motivating, compensating, recruiting/selecting, evaluating performance, designing territories
competition; customers
Marketplace changes in _______ and _______ consequently change the selling process.
competition
Globalization, shorter product life cycles, and proliferation (blurring of marketing boundaries) increase….
suppliers; expectations; power
Customer developments include fewer _____, rising _____, and increasing ______.
solutions selling; sales team; inside selling; productivity metrics
The selling process adapts to marketplace changes by: (4 separated by ; )
solutions selling
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
management; collaborative partners; solutions; people
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 ; )
sales teams (buyer-seller interface team)
allow for a broader transfer of capabilities and communication (rather than filtering through one salesperson like that of a traditional buyer-seller interface)
prospecting; closing; providing customer solutions
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)
Productivity Metrics
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
Sales Management Process
-focus on BIG PICTURE
-ROLES of sales force
-STRUCTURING sales force
-building SALES COMPETENCIES
-LEADING sales force
sales management competencies
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
strategic action, coaching, teambuilding, self-mngt, global perspective, technology
Name all six sales mngt competencies.
industry; organization; strategic actions
Strategic Action Competencies include the dimensions of understanding the _____, understanding the _____, and taking _____ _____. (separated by ; )
understanding the industry
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
understanding the organization
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
taking strategic action
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
verbal feedback; role modeling; trust
Coaching Competencies include the dimensions of providing _____ _____, _____ _____, and _____ building. (separated by ; )
providing verbal feedback
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
role modeling
involves leading by example; providing role models (self or others) and sharing best practices; and modeling professional attitudes/behaviors
trust building
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
teams; supportive; dynamics
Teambuilding Competencies include the dimensions of designing _____, creating a ______ environment, and managing team ______. (separated by ; )
designing teams
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
creating a supportive environment
involves hiring people successful in team environment; training programs that encourage teamwork; and integrating individual members of sales team forming a functional supportive team
managing team building
involves understanding strengths/weaknesses of team members; and facilitating cooperative behavior and keep team moving towards its goals
integrity; ethical; drive; self-awareness
Self-Management Competencies include the dimensions of fostering ______ and ______ conduct, managing/balancing personal _____, and developing _____-______ and management skills.
fostering integrity & ethical conduct
involves clear personal standards of integrity & ethical conduct; projecting self-assurance; and being willing to admit mistakes and accept responsibility for own actions
managing & balancing personal drive
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
developing self-awareness & management skills
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
cultural; global
Global Perspective Competencies include the dimensions of _____ knowledge and sensitivity, and adapting ____ selling programs.
cultural knowledge & sensitivity
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
adapting global selling program
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
technology; automation
Technology Competencies include the dimensions: understanding of new _____, and implementing sales force _____.
understanding of new technology
involves awareness of potential for technology to increase sales force efficiency/effectiveness; experience in using new technology; and attitude toward adopting new technology
implementing sales force automation
involves knowing what’s to be accomplished/benefits from it; adapting personal managment style/procedures; and fostering sales force acceptance & use of selling technology

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