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Questions and Answers
What is the first step in the selling process?
What is the first step in the selling process?
The Sales Management Process does not include setting sales goals.
The Sales Management Process does not include setting sales goals.
False
What is the primary focus of sales according to the emphasized perspective?
What is the primary focus of sales according to the emphasized perspective?
Value discovery
The final step in the selling process is __________.
The final step in the selling process is __________.
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Which step involves answering customer concerns to help them feel confident about buying?
Which step involves answering customer concerns to help them feel confident about buying?
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Match the following steps of the Sales Management Process with their descriptions:
Match the following steps of the Sales Management Process with their descriptions:
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The external environment only includes factors that are inside the organization.
The external environment only includes factors that are inside the organization.
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What step in the selling process involves initiating contact with the customer?
What step in the selling process involves initiating contact with the customer?
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What should salespeople avoid using in their language?
What should salespeople avoid using in their language?
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Salespeople should wait for things to get better before taking action.
Salespeople should wait for things to get better before taking action.
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What is crucial for establishing long-term customer relationships in sales?
What is crucial for establishing long-term customer relationships in sales?
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Salespeople risk losing opportunities by not paying adequate __________ to details.
Salespeople risk losing opportunities by not paying adequate __________ to details.
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Match the common mistakes in sales with their implications:
Match the common mistakes in sales with their implications:
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What expectation do customers have from salespeople?
What expectation do customers have from salespeople?
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Which of the following factors is NOT listed as part of the external environment?
Which of the following factors is NOT listed as part of the external environment?
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Salespeople should focus solely on pushing products to customers.
Salespeople should focus solely on pushing products to customers.
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Salespeople should prioritize making sales over understanding customer needs.
Salespeople should prioritize making sales over understanding customer needs.
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Salespeople who lack __________ may struggle with closing deals.
Salespeople who lack __________ may struggle with closing deals.
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What is one common mistake that salespeople make in their approach to selling?
What is one common mistake that salespeople make in their approach to selling?
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The internal environment refers to all the factors within the organization that can affect its __________.
The internal environment refers to all the factors within the organization that can affect its __________.
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Match the following internal factors with their descriptions:
Match the following internal factors with their descriptions:
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Which of the following is a component of the internal environment?
Which of the following is a component of the internal environment?
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Understanding customer needs is essential in sales.
Understanding customer needs is essential in sales.
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Name one external factor that can influence an organization.
Name one external factor that can influence an organization.
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What is the primary responsibility of a sales manager?
What is the primary responsibility of a sales manager?
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Which of the following is NOT a benefit of selling activities?
Which of the following is NOT a benefit of selling activities?
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Sales management is solely focused on increasing sales volumes.
Sales management is solely focused on increasing sales volumes.
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Customer relationship management is a key element of sales management.
Customer relationship management is a key element of sales management.
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Who is the author that defined sales management as a process of planning, organizing, leading, and controlling a sales team?
Who is the author that defined sales management as a process of planning, organizing, leading, and controlling a sales team?
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What is the primary goal of sales management?
What is the primary goal of sales management?
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Sales Management is defined as the process of planning, organizing, leading, and controlling a sales team to achieve the company's sales goals while maintaining customer __________.
Sales Management is defined as the process of planning, organizing, leading, and controlling a sales team to achieve the company's sales goals while maintaining customer __________.
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Selling activities help businesses effectively match supply with __________.
Selling activities help businesses effectively match supply with __________.
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Match the following aspects of sales management with their descriptions:
Match the following aspects of sales management with their descriptions:
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Match the objectives of sales management with their descriptions:
Match the objectives of sales management with their descriptions:
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Which of the following differentiates the modern concept of sales management from the previous understanding?
Which of the following differentiates the modern concept of sales management from the previous understanding?
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What does selling primarily aim to achieve for customers?
What does selling primarily aim to achieve for customers?
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Effective team synchronization is a key element in modern sales management.
Effective team synchronization is a key element in modern sales management.
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Feedback from selling activities does not influence business innovation.
Feedback from selling activities does not influence business innovation.
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The goal of sales management is not just to sell but also to create __________ relationships with customers.
The goal of sales management is not just to sell but also to create __________ relationships with customers.
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Name one element of sales management.
Name one element of sales management.
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What is a consequence of salespeople not maintaining connections with customers?
What is a consequence of salespeople not maintaining connections with customers?
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Salespeople should allow themselves to become complacent to improve their sales performance.
Salespeople should allow themselves to become complacent to improve their sales performance.
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What do customers appreciate from salespeople in terms of communication?
What do customers appreciate from salespeople in terms of communication?
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Salespeople risk losing business opportunities by not keeping________.
Salespeople risk losing business opportunities by not keeping________.
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Match the common mistakes in sales management with their explanations:
Match the common mistakes in sales management with their explanations:
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What is important for salespeople to strive for to connect better with customers?
What is important for salespeople to strive for to connect better with customers?
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Salespeople should ignore customer updates to prevent overwhelming them.
Salespeople should ignore customer updates to prevent overwhelming them.
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Name a key aspect salespeople should focus on to avoid making common mistakes.
Name a key aspect salespeople should focus on to avoid making common mistakes.
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Study Notes
Introduction to Sales Management
- The course is about sales management, taught by Prof. Edgar A. Reyes, in the College of Management and TGECHNOLOGY.
Learning Objectives
- Define sales management
- Identify selling activities related to society, firms, and consumers
- Differentiate the four basic elements of sales management
- Discuss the objectives of sales management
- Understand the selling process
- Understand sales management
- Differentiate the external and internal environments of a firm
- Enumerate common mistakes in selling
Table of Contents
- Definition of Sales Management
- Benefits of Selling Activities
- Elements of Sales
- Objectives of Sales Management
- The Selling Process
- External and Internal Environment
- Common Mistakes in Sales
Introduction
- Selling has become more professional, encompassing planning, organizing, leading, and controlling sales activities.
- Modern sales team management combines art (creativity) and science (data-driven strategies) to meet profit goals.
- The concept of a salesperson is evolving beyond just having a pleasant personality.
Definition of Sales Management
- Sales Management is the process of planning, organizing, leading, and controlling a sales team to achieve company goals while maintaining customer satisfaction.
- It's about guiding and managing a sales team to achieve their targets.
- The focus is on creating lasting customer relationships rather than just making a sale.
Benefits of Selling Activities
- Economic Contribution: Generates income, creates jobs, and contributes to the overall economic activity.
- Customer Satisfaction: Ensures that customers find products/services meeting their needs, fostering loyalty.
- Innovation Encouragement: Provides feedback for businesses to improve their products and services.
- Efficient Resource Use: Helps companies use their resources effectively.
- Sustainability of Operations: Provides needed funds to maintain and expand business operations.
Elements of Sales Management
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Goal Setting: Establishing clear short-term and long-term sales targets.
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Sales Territory Management: Dividing customers/regions among salespeople to efficiently serve them.
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Sales Process Management: Organizing the steps of selling, including finding customers and closing deals.
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Budgeting and Resource Allocation: Wisely allocating resources to support sales activities.
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Customer Relationship Management: Building and maintaining positive customer relationships.
Objectives of Sales Management
- Increase Sales Revenue: Achieve higher sales volumes to boost income.
- Build Customer Loyalty: Encourage repeat business through long-term relationships.
- Improve Sales Efficiency: Optimize sales processes to save time and resources.
- Develop the Sales Team: Train and motivate the sales team to enhance skills.
- Expand Market Reach: Explore newer markets and customer segments to grow the business.
The Selling Process
- Selling is the process of helping someone discover something of value, focusing on value discovery rather than just making a transaction.
Steps of the Selling Process
- Prospecting: Find potential customers
- Preparation: Learn about potential customers' needs
- Approach: Initiate the conversation
- Presentation: Show how the product/service meets the needs
- Handling Objections: Address customer concerns
- Closing: Get the customer to commit to the deal
- Follow-Up: Maintain customer relationships after the sale
Sales Management Process
- The sequence of activities involves planning, implementation, and controlling a company's sales efforts to meet organizational goals.
- Setting Sales Goals: Defining clear measurable targets
- Developing Sales Strategies: Creating plans to accomplish goals
- Managing Sales Operations: Supervising day-to-day activities.
- Monitoring Performance: Tracking metrics to evaluate success and adjust strategies.
External and Internal Environment
- External Environment: Factors outside an organization, impacting operations. Includes economic conditions, technological advancements, natural environment, legal and political forces, and social/cultural influences..
- Internal Environment: Factors within an organization, impacting operations. Includes Goals/Objectives, Culture, Financial resources, Human Resources, Production/Supply Chain, Service capabilities, Research/Development, Technology.
Common Mistakes in Sales
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Do Not Understand Selling: Not fully understanding the art of selling goes beyond merely pushing a product; involves building relationships and understanding customer needs.
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Expecting Things to Improve by Themselves: Sales is competitive. Continuous learning and proactive steps are essential.
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Talking Excessively and Not Listening Enough: Understanding customer concerns is crucial. Active listening is key.
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Saying Words that Kill Sales: Mindful language is crucial, avoid negative or pushy phrases.
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Do Not Know When to Close the Sales: Recognizing the right moment to close a deal is vital for success.
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No Sincerity: Customers seek genuine connections; build strong relationships.
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Not Paying Adequate Interest to Details: Salespeople need to thoroughly understand product/service features, benefits & limitations.
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Letting Oneself Slump: Avoid complacency; maintain enthusiasm and strive for constant improvement.
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Not Keeping Connected: Regular communication is vital; maintain contact with customers.
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Description
Explore the fundamentals of sales management in this course by Prof. Edgar A. Reyes. Learn about defining sales management, understanding selling processes, and identifying key elements and objectives of effective sales strategies. This quiz will test your knowledge on various aspects of sales management and common mistakes to avoid.
