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Sales Management > Quiz 1 M1S1 > Flashcards

Quiz 1 M1S1 Flashcards

1
Q

6 Characterestics of Sales Management in the 21st Century

Customers
Sales organizational structures
Functional Barriers
Management Style
Technology
Performance Evalualtion

A

1 Long-term relationships with customers
2 Nimble and adaptable sales organizational structures
3 Fewer functional barriers within the organization
4 Coaching sales management style
5 Leverage technology
6 Incorporate all activities and outcomes in performance evaluations

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2
Q

Key Themes of Sales Management in the 21st Century

A

1 Innovation – thinking outside the box
2 Technology – broad spectrum of tools available to salespersons
3 Leadership – capability to make things happen
4 Globalization
5 Ethics

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3
Q

Transactions involving separate organizations, each entering into an independent transaction.

A

Transactional Selling

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4
Q

Narrows the vendor pool, improves efficiencies, works directly with customers to solve problems.

A

Relationship Selling

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5
Q

Two Innovations in Sales

A

Transactional Selling
Relationship Selling

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6
Q

Broad spectrum of tools available to salespersons

A

Technology

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7
Q

EDI

A

Electronic Data Interchange

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8
Q

ECR

A

Efficient Customer Response

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9
Q

CRM

A

Customer Relationship Management Software

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10
Q

Differentiate Managing from Leading

CSD vs CCE

A

Managing
* Control
* Supervisor/boss
* Direct

Leading/Mentoring
* Communicate
* Cheerleader/coach
* Empower to make decisions

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11
Q

A leadership style that takes subordinates’ work seriously. Build trust and take the lead from subordinates. Allocate rewards and glory as he perceives himself as a steward.

A

Servant Leadership

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12
Q

Why is globalization a key theme of Sales Management in the 21st Century?

A

Because globalization is a global endeavor:

  • Customers can easily communicate worldwide
  • Significant growth opportunities lie outside domestic markets
  • Customers are global
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13
Q

Trust is necessary to maintain customer loyalty.

Long-term relationships require higher ethical standards.

A

Ethics

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14
Q

The formulation of a sales program
The implementation of the sales program
The evaluation and control of the sales program

A

Sales Management Process

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15
Q

Environmental variables determine the ultimate success or failure of marketing strategies

A

Environmental Impact

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16
Q

Buyer-seller interactions take place within the context of the current economic condition

A

Economic Environment

17
Q

Increased number of laws regulate conduct of business

A

Legal-Political Environment

18
Q

What are the three broad categories of relevant laws in Legal-Political Environment?

ACE

A

Antitrust
Consumer Protection
Equal Employment Opportunity

19
Q

Transportation, communications, and data processing technologies that changes how salespeople/sales managers do their jobs

A

Technological Environment

20
Q

Transportation, communications, and data processing technologies change:

ST
SRD
SPE

A
  • sales territories
  • sales rep deployment
  • sales performance evaluation
21
Q

Development of moral standards by which actions and situations can be judged

A

Ethics

22
Q

Managers must influence ethical performance by example

Ethical standards reflect the integrity of firm

A

Social and Cultural Environment

23
Q

Nature influences demand for products

A

Natural Environment

24
Q

Nature influences demand for products:

W
ND
ARM
ER

A
  • Weather
  • Natural disasters
  • Availability of raw materials
  • Energy resources
25
Q

What is Innovation?

A

Thinking outside the box

26
Q

What is technology?

A

Tools for salesperson

27
Q

What is leadership?

A

Capabilities to makethings happen.

28
Q

What is ethics?

A

Knowing whhat is ethically right and wrong

29
Q

What is globalization?

A

Costumers are global

30
Q

Thinking outside the box

A

Innovation

31
Q

Broad spectrum of tools available to salespersons

A

Technology

32
Q

Capability to make things happen

A

Leadership

33
Q

The need for outside specialists to help meet need to expand

A

Human Resources

34
Q

________________________________ constrain ability to develop new products, limit promotional budget and limit size of sales force

A

Financial Resources

35
Q

Different sales management environments.

SLENT

A

SLENT
Social and Cultural Environment
Legal Political Environment
Economic Environment
Natural Environment
Technological Environment

36
Q

Two kinds of resources

A

Financial Resources
Human Resources

37
Q

Three Types of Capabilities

PSC
SS
RDT

A

Production and Supply Chain Capability
Strong Service Capabilities
R&D and Technological Capabilities

38
Q

Lack of financial resources can:

A

1 constrain ability to develop new products
2 limit promotional budget
3 limit size of sales force

39
Q

____________ are sometimes sought to obtain financial resources

A

Mergers

Sales Management (2 decks)

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