MKT 310 Exam 3

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xSLYx
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146302
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MKT 310 Exam 3
Updated:
2012-04-08 20:26:52
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personal selling
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Personal selling Exam 3
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  1. Comprises a group of customers or a geographic area assigned to a salesperson.
    Sales territory
  2. 7 reasons why companies develop and use sales territories:
    • - To obtain thorough coverage of the market
    • - To establish each salesperson's responsibilities
    • - To evaluate performance
    • - To improve customer relations
    • - To reduce sales expense
    • - To allow better matching of salesperson to customer's needs
    • - To benefit both salespeople and the company
  3. 4 reasons a company may not want territories:
    • - Company is too small/new and does not know enough about market
    • - Restricts salespeople and may decrease motivation
    • - Management may not know how
    • - Personal friendships may be basis for attracting customers
  4. What is the basis for setting quota?
    Customers and product type
  5. A continuous process of planning, executing, and evaluating the sales and service provided to customers.
    Time and Territory Management (TTM)
  6. First step in TTM:
    Set goals or quotas
  7. Identifying accounts and their varying levels of sales potential.
    Account analysis
  8. 2 general approaches to account analysis:
    • - Undifferentiated selling approach
    • - Account segmentation approach
  9. Selling strategies are designed and applied equally to all accounts.
    Undifferentiated selling approach
  10. Approach that recognizes that their territories contain accounts with hetergeneous needs and differing characteristics that require different selling strategies.
    Account segmentation approach
  11. 3 methods of segmenting accounts:
    • - Key account
    • - Unprofitable account
    • - Regular account
  12. Break-even point (in dollars) =
    Salesperson's fixed costs/GP%
  13. 7 basic factors to consider in time allocation:
    • - # of accounts in the territory
    • - # of sales calls made on the customers
    • - Time required for each sales call
    • - Frequency of customer sales calls
    • - Travel time around the territory
    • - Nonselling time
    • - Return on time invested
  14. Break-even volume per hour =
    Cost per hour / GP %
  15. 6 types of changes that occur in the transition from salesperson to sales manager:
    • - Perspective
    • - Goals
    • - Responsibilities
    • - Satisfaction
    • - Job skill requiremnets
    • - Relationships
  16. 7 Stages of being promoted:
    • - Immobilization
    • - Minimizing or denial of change
    • - Depression
    • - Acceptance of reality
    • - Testing
    • - Searching for meanings
    • - Internalization
  17. Problems new managers face:
    • - Lack of preparation
    • - Expectation to immediately step into job
    • - Lacks immediate peer group
  18. Key to making a successful job transition.
    Learning attitude; being willing to learn, change, adapt, and seek help when needed.
  19. Salary for management determined by (4)...
    • - Annual sales volume of units managed
    • - # of salespeople supervised
    • - Length of experience in sales
    • - Annual sales volume of the firm
  20. Attainment of sales force goals in an effective and efficient manner through planning, staffing, training, directing, and evaluating organizational resources.
    Sales management
  21. Main goal of sales manager.
    To achieve the levels of sales volume, profits, and sales growth desired by higher levels of management.
  22. 5 sales management functions:
    • - Planning
    • - Staffing
    • - Training
    • - Directing
    • - Evaluating
  23. Who develops sales goals for the company?
    Corporate management, including national sales manager
  24. Weaker form of basing sales forecasting.
    Percentage of sales
  25. Good form of basing sales forecasting.
    Objective task method

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