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Sales Management
Chapter 6
| Question | Answer |
|---|---|
| Top management focuses on ________ ______ | strategic planning |
| Sales managers must (6) | 1) Define goals/obj. 2) Set policies 3) Establish procedures 4) Devise strategies 5) Direct tactics 6) Develop/enforce controls |
| Goals | General, long-range destination |
| Objectives | Specific results desired within a designated time frame |
| Policies | Predetermined approaches for handling routine matters or reoccurring situations |
| Procedures | Detailed descriptions of specific steps for carrying out actions |
| Strategy | An overall program of action for using resources to achieve a goal or objective |
| Tactics | Day-to-day actions that make up the strategic plan |
| The sales management process is never c_______ | complete |
| Sales Management Process (7) | 1) Analyze situation 2) Set goals/objective 3) Determine market potential and forecast sales 4) Develop strategies 5) Allocate resources/develop budget 6) Implement plan 7) Evaluate/control |
| Market potential | Maximum possible sales for an entire industry |
| Sales potential | Maximum possible sales for a company |
| Market capacity | Refers to the units the market will absorb if the product or service is free |
| Strategy planning | The process of setting overall objective, allocating resources, and developing broad courses of action |
| Market Penetration | A strategy focusing on increasing sales of current products in current markets by more intensive marketing efforts |
| Market development | A strategy for opening up new markets for current products |
| Market share/Market growth matrix | A matrix displaying alternative methods of growing sales |
| SBU | Logical divisions of major businesses within multiple product comapnies |
| Business Portfolio Matrix | A method of segmenting the company's activities into groups of well-defined businesses for which distinct strategies are developed |
| Stars | Large amounts of cash High market share High growth Become cash cows |
| Cash Cows | Leaders in mature markets High market share Low Growth |
| Problem children | Rapid growth Low market share |
| Dogs | Low market share Low growth Likely to be sold |
| Sales managers often use ________ ___ _______ (MBO) to involve subordinates in planning and budgeting | Management by Objectives |
| PERT network | (Program Evaluation and Review Technique) used for planning and scheduling |
| Critical path | Sequence of tasks to be completed, the time to complete each activity, and the responsible individuals |
| Dialectic Planning | Calls for making a new set of assumptions and reevaluating all previous planning decisions |
| Contingency planning | A backup plan to the one adopted |
| Line organization | Simplest and used by smaller firms |
| Line-and-staff organizations | creates more functional areas and adds staff assistants to complete specialized support activities |
| Functional organization | Staff specialists have line authority; sales people have to react to several bosses |
| Matrix organizations | Rapid technologically changing industries; revolves around projects |
| Guidelines for Developing Sales Organizations (6) | 1) Market-oriented approach 2) Sales Approach 3) Defined areas of authority and responsibility 4) Reasonable span of control 5) Flexibility 6) Coordination and balance |
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