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MKT391 Exam 3 Study Guide

by: Myles Daniel

MKT391 Exam 3 Study Guide MKT391

Marketplace > Arizona State University > Business > MKT391 > MKT391 Exam 3 Study Guide
Myles Daniel

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About this Document

Chapters 10 and 11. Self Leadership and Teamwork. Sales Management.
Essentials of Selling
Professor Dietrich
Study Guide
sales management, Selling, Teamwork, self-leadership
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This 3 page Study Guide was uploaded by Myles Daniel on Thursday April 21, 2016. The Study Guide belongs to MKT391 at Arizona State University taught by Professor Dietrich in Spring 2016. Since its upload, it has received 26 views. For similar materials see Essentials of Selling in Business at Arizona State University.


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Date Created: 04/21/16
MKT391 Exam 3 Study Guide Ch. 10 A study of 1502 salespeople in North America found that salespeople spend, on average: 38%  of their time selling 39%  of their time on operations/management tasks (bogged down/inefficient) 23%  of their time on questionable/unproductive things (ie: Facebook, gossiping, etc.) When comparing top sales performers with not top performers, it was found that top performers  spent 58% of their time on revenue generating sales activities (over 20% more than lower  performers) Self­leadership:  “doing the right things, and doing them well” The Five Sequential Stages of Self­leadership 1. Setting Goals and Objectives 2. Territory Analysis and Account Classification 3. Development and Implementation of Strategies and Plans 4. Tapping Technology and Automation 5. Assessment and Evaluation Goals and Objectives (important descriptive words): ­ Desired ­ Outcome Goals should be: ­ Realistic, yet challenging:  set goals that are reachable, but also push yourself. ­ Specific and quantifiable:  make sure goals aren’t ambiguous, or meaningless. ­ Time specific:  deadlines instill a sense of urgency and provide motivation. Personal Goals:  A salesperson’s individual desired accomplishments. (ex: achieving a desired                                 income over a certain period of time).  10­3c: Development and Implementation of Strategies and Plans “Stage One provides the salesperson with the guidelines of what is important and the goals to be  accomplished at the levels of individual sales calls, accounts, and the overall territory. Stage Two identifies and establishes the priority and potential of each account in the territory along with the  relative location of each account. Top salespeople do not stop there! They use this information to develop strategies and plans that will guide them toward achieving their goals by applying their  available resources in a deliberate and organized fashion that effectively cultivates and harvests  the potential sales available in the territory. Sales Planning:  The process of scheduling activities that can be used as a map for achieving                              objectives. Ch. 11 Sales Management:  Managing an organization’s personal selling function to include planning,                                     implementing, and controlling the sales management process. Sales Management Process: 1. Defining the strategic role of the selling function 2. Developing the Sales Force 3. Directing the Sales Force 4. Determining Salesforce Effectiveness and Performance Best Sales Management Practices ­ Create the culture… make it clear (a customer­driven culture) ­ Recruit and hire the best sales talent ­ Improve skills (including attitude!) ­ Utilize technology – CRM systems ­ Marketing and Sales must be aligned Best Sales Characteristics ­ Communication, Listening ­ Time Management, Motivation, Ethics ­ Organizational Leadership ­ A champion for the cause *Leads to: continuous feedback, enthusiasm, growth Trade Shows:  industry­sponsored events used to promote products and services to potential                           (and existing) customers. They are used for both selling objectives (ie: testing                             new products and closing sales) and non­selling objectives (ie: servicing current                            customers, gathering competitive info., enhancing corporate image, etc.).


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