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Mkf3471 > Motivation > Flashcards

Motivation Flashcards

1
Q

What are Damon’s five types of sales people?

A
  • creatures of habit
  • satisfiers
  • trade-off-ers
  • goal orientated
  • money orientated
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2
Q

What are the characteristics of: creatures of habit

A

Maintain their standard of living by earning a predetermined amount of money.

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3
Q

What are the characteristics of: satisfiers

A

perform at level just sufficient to keep their jobs

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4
Q

What are the characteristics of: trade-off-ers

A

allocate time based on personally determined ratio between work and leisure that is not influenced by the prospect of higher earnings.

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5
Q

What are the characteristics of: goal orientated

A

Prefer recognition as achievers from peers and superiors.

Sales quota orientation with money serving as recognition of achievement.

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6
Q

What are the characteristics of: money orientated

A

Aim to maximise earnings.

Relationships, leisure and health may be sacrificed in pursuit of money.

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7
Q

What are the three basic types of compensation plans?

A

fixed salary

commission only

salary plus commission

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8
Q

What are the four objectives that can be influenced by compensation plans?

A
  • motivation by linking achievement to monetary reward
  • attract and retain quality sales people
  • allow selling costs to fluctuate inline with revenue
  • direct attention of sales force to company objectives
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9
Q

What are six popular models of motivation?

A
  • maslow’s hierarchy of needs
  • herzberg’s dual factor theory
  • vroom’s expectancy theory
  • adam’s inequity theory
  • likert’s sales management theory
  • model of salesforce motivation
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10
Q

Excluding financial factors - what are some of the best ways to motivate sales people?

A
  • individual feedback/meetings with supervisor/manager
  • regular accompaniment in the field by sales manager
  • merit promotional system
  • participating in sales target setting
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11
Q

What are the three components of motivation?

A

intensity
direction
persistence

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12
Q

What is intensity in terms of motivation?

A

Amount of effort delivered by salesperson

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13
Q

What is direction in terms of motivation?

A

Extent to which salesperson determines and chooses efforts based on a particular goal.

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14
Q

What is persistence in terms of motivation?

A

The extent to which goal-directed effort is sustained over time.

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15
Q

What are the two basic types of rewards? Provide two examples of each.

A

Compensatory - given in return for performance or effort. Can include non financial eg. awards, bonus pay.

Non compensatory - beneficial factors related to the work situation and well being of each sales person. eg. improved office space, vacation days.

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16
Q

What are the four elements of the optimal sales force reward system.

A
  • acceptable ratio of costs and sales force output, profit, volume, etc
  • encourages activities consistent with firm’s overall, marketing, sales force objectives/strategies
  • attracts and retains quality salespeople - builds long term customer relationships
  • allows adjustments that facilitate administration of reward system
17
Q

Types of sales force rewards: intrinsic

A
  • sense of accomplishment

- personal growth/learning

18
Q

Types of sales force rewards: extrinsic

A
  • pay
  • promotion
  • recognition
19
Q

Financial compensation - pros of: straight salary

A
  • simple administration
  • planned earnings easy to project
  • can provide control of salespeople activties
20
Q

Financial compensation - cons of: straight salary

A
  • little incentive for better performance
  • salary compression can cause perceptions of inequity amongst experience sales people
  • salaries represent fixed overhead costs
21
Q

Financial compensation - pros of: straight commission

A
  • income linked to performance

- cost control benefits

22
Q

Financial compensation - cons of: straight commission

A
  • little company loyalty fostered

- may need to be limited by earnings cap

23
Q

Financial compensation - pros of: performance bonuses

A
  • organisation can direct emphasis to strategically important areas
  • tying rewards to accomplishment of objectives
24
Q

Financial compensation - cons of: performance bonuses

A
  • difficulty calculating bonus when objectives are subjective
  • if sales people do not support objective unlikely to exert additional effort
25
Q

Financial compensation - pros of: combination plans

A
  • flexible
  • useful with varying skills in salesforce
  • attractive to high potential but unproven candidates
26
Q

Financial compensation - cons of: combination plans

A
  • complex to administer

- produce too many sales force objectives

27
Q

Non-Financial compensation - five examples:

A
  • opportunity for personal growth
  • recognition
  • job security
  • opportunity for promotion
  • sense of accomplishment
28
Q

What are the five stages of Maslow’s heirarchy?

A
  • physiological
  • safety
  • social needs
  • esteem needs
  • self actualisation
29
Q

Explain the two elements of Herzberg’s dual factor theory?

A
  • Hygiene factors - do not motivate (can demotivate). eg. salary, interpersonal relationships and physical working conditions.
  • Motivating factors - eg. achievement, responsibility, recognition etc
30
Q

Explain the elements of Vroom’s expectancy model?

A

Expectancy - effort leads to performance
Instrumentality - high performance leads to reward.
Valence - perception of value of reward.

31
Q

What is one of the problems with Vroom’s model?

A

Relies on individual perception -> valence is subjective. Relates to five types of sales people. Understanding the type of sales people you are dealing with is crucial for motivating them.

32
Q

What are the seven areas that sales people may feel inequity in - Adams inequity theory.

A
  • monetary reward
  • workload
  • promotion
  • degree of recognition
  • supervisory behaviour
  • targets
  • tasks
33
Q

How does the inequity model relate to motivation?

A

Perceived inequity may result in decreased motivation. Equal importance of disincentives e.g. eliminating unfairness compared to incentive factors used to increase motivation.

34
Q

Explain the two key points of Likert’s sales management theory?

A
  • high performing sales teams usually have sales managers with high performance goals.
  • high performing sales teams have inclusive, group approach rather than sales manager monopolising group meetings.
35
Q

Explain the model of salesforce motivation by Churchill, ford and walker.

A
  • motivation -> effort -> performance -> rewards -> satisfaction -> motivation
    Acts in cyclical way that is self reinforcing.
36
Q

What are the implications of the sales force motivation model?

A
  • sales managers should work to increase efficiency of sales people -> work smarter not harder
  • rewards for better performance must be valued and worth the extra effort
37
Q

What are six guiding principles to motivate salespeople?

A
  • recruit sales people whose motives match requirements and rewards of job
  • incorporate individual salespeople needs into motivational programme
  • provide adequate job information and skills development/training
  • use job design and redesign as motivational tools
  • build self esteem of salespeople (self efficacy/training)
  • take proactive approach to seeking out motivational problems/get feedback regularly

Mkf3471 (6 decks)

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