Sales & Advertising Management (MM) Overview

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Questions and Answers

A company is developing its sales budget. Which factor should be considered last in the process, after defining objectives, understanding underlying factors, and outlining necessary steps?

Analyzing historical sales data and market trends.
Setting clear and measurable sales objectives for the budget period.
Estimating potential sales revenue for each product line.
Determining the sales budget's importance in achieving the overall marketing goals. (correct)

When a company is trying to decide on the most effective advertising media, what is the main thing that should be considered?

The budget allocated for advertising and media placement.
The media that most of the company's competitors are using.
The media with the lowest cost per impression.
How well the media matches the target audience and the goals of the ad campaign. (correct)

Which aspect of sales forecasting focuses on identifying potential challenges that might hinder the achievement of sales targets?

Understanding the limitations inherent in forecasting methods. (correct)
Defining the meaning and scope of sales forecasting.
Establishing clear objectives for the forecasting process.
Recognizing the importance of accurate sales predictions.

What is the primary focus when measuring advertisement effectiveness?

Evaluating the advertisement's impact on brand awareness and sales. (C) Signup and view all the answers

What is the fundamental goal of sales management?

To maximize sales revenue through effective strategies and leadership. (B) Signup and view all the answers

In the context of the 5M's of advertising, which 'M' relates to the overall goals the advertising campaign aims to achieve?

Mission (A) Signup and view all the answers

A sales manager is deciding how to compensate their sales team. Which compensation structure would MOST directly align individual salesperson efforts with overall company profitability?

A profit-sharing plan based on the company's overall financial performance. (A) Signup and view all the answers

Which of the following is a key difference between personal selling and general salesmanship?

Personal selling focuses on building relationships with customers, while salesmanship is a broader term encompassing various selling techniques. (C) Signup and view all the answers

In which scenario would a company prioritize personal selling over advertising?

When introducing a complex, high-value product requiring detailed explanation and customized solutions. (A) Signup and view all the answers

When classifying advertising, what distinguishes product advertising from institutional advertising?

Product advertising promotes a specific product or service, while institutional advertising promotes the organization's image, reputation, and overall mission. (D) Signup and view all the answers

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Flashcards

Sales Management

Planning and managing a company's sales strategies, including setting goals, managing a sales team, and analyzing performance.

Sales Budget

An estimate of expected sales revenue used for setting targets, allocating resources, and evaluating sales performance.

Sales Forecasting

Estimating future sales based on past data, market trends, and other factors to predict future sales performance.