Sales Management Overview
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Questions and Answers

What is a key advantage of the Delphi technique in forecasting?

  • It allows for anonymous opinions to be gathered. (correct)
  • It relies solely on sales figures from previous years.
  • It encourages face-to-face discussions among executives.
  • It requires unanimous agreement from participants.

Which of the following factors should a salesperson know about their industry?

  • The latest marketing strategies in unrelated industries.
  • The size and trends of the industry. (correct)
  • The office hours of competitors.
  • The personal preferences of the sales team members.

What is a disadvantage of the sales force composite method of forecasting?

  • It may be affected by individual bias from sales team members. (correct)
  • It focuses solely on historical sales data.
  • It incorporates the collective knowledge of the sales team.
  • It relies on the opinion of a single executive.

What is a method to establish the uses of a product effectively during a sales pitch?

<p>Establishing multiple uses for the product. (D)</p> Signup and view all the answers

What is a crucial element for ensuring a successful sales approach?

<p>The appointment requires good planning and preparation. (B)</p> Signup and view all the answers

Which advantage does the Delphi technique have over traditional opinion methods?

<p>It minimizes the influence of group dynamics. (B)</p> Signup and view all the answers

Which approach involves beginning with a compliment to engage the prospect?

<p>Compliment approach (D)</p> Signup and view all the answers

Which of the following aspects is NOT essential for a salesperson to know?

<p>The local weather patterns affecting sales. (A)</p> Signup and view all the answers

Why is it important for a salesperson to pay attention to their appearance during an approach?

<p>It creates a perception of professionalism and respect. (B)</p> Signup and view all the answers

In the sales forecasting methods, what is a core function of the sales force composite?

<p>It compiles sales predictions from individual salespeople. (C)</p> Signup and view all the answers

What type of approach is used when prompting excitement about a product, such as a speaker?

<p>Stimulating statement approach (C)</p> Signup and view all the answers

What element influences the effectiveness of establishing uses for a product?

<p>How well the salesperson understands the product’s versatility. (D)</p> Signup and view all the answers

What should a salesperson avoid when asking questions during the sales approach?

<p>Questions that require negative answers (D)</p> Signup and view all the answers

Which of the following techniques is NOT advised for a salesperson to employ during the approach?

<p>Being self-important (A)</p> Signup and view all the answers

What kind of information is important for a salesperson to gather before the approach?

<p>Specific product knowledge (B)</p> Signup and view all the answers

What is the purpose of setting clear objectives for the sales approach?

<p>To guide the sales conversation and measure success (B)</p> Signup and view all the answers

What is one key activity to ensure customer satisfaction after a sale?

<p>Follow up to ensure continued satisfaction (B)</p> Signup and view all the answers

Which of the following is NOT a guideline for retaining customer loyalty?

<p>Make promises that cannot be kept (D)</p> Signup and view all the answers

What is a method a salesperson can use to prevent complaints?

<p>Giving recommendations that satisfy customer needs (B)</p> Signup and view all the answers

Which mechanism is effective for obtaining feedback from customers?

<p>Social networks (C)</p> Signup and view all the answers

Why is the salesperson typically responsible for complaints about the product sold?

<p>They have direct contact with the customer (A)</p> Signup and view all the answers

What should a salesperson do to keep promises made to customers?

<p>Be consistent in their approach (A)</p> Signup and view all the answers

Which of the following reflects a way to show gratitude towards customers?

<p>Express appreciation for their support (A)</p> Signup and view all the answers

What is a crucial step to avoid misunderstandings with customer orders?

<p>Completing all documentation correctly (C)</p> Signup and view all the answers

What is an influence centre in the context of sales prospecting?

<p>A well-known individual whose endorsement can attract buyers (A)</p> Signup and view all the answers

What does cold canvassing imply about a salesperson's knowledge of a prospect?

<p>The salesperson has no prior knowledge of the prospect (C)</p> Signup and view all the answers

Which of the following is a key advantage of the endless-chain technique in sales?

<p>It provides a pre-qualified prospect through referrals (C)</p> Signup and view all the answers

How can direct mail and brochures be effectively utilized by a salesperson?

<p>They can generate inquiries that require follow-up (C)</p> Signup and view all the answers

What role does a spotter play in the sales process?

<p>They provide referrals to salespeople (B)</p> Signup and view all the answers

In using social media for prospecting, what primary advantage does it provide?

<p>It allows for real-time interaction with potential customers (B)</p> Signup and view all the answers

What is the main purpose of gathering pre-approach information?

<p>To understand the prospect's specific needs and preferences (B)</p> Signup and view all the answers

Which of the following is NOT true about spotters?

<p>Spotters take part in the actual sales process (C)</p> Signup and view all the answers

What is one of the first steps a salesperson should take after an unsuccessful close?

<p>Maintain contact with the prospect (D)</p> Signup and view all the answers

Which of the following is a closing technique that focuses on the availability of a product?

<p>Standing room only technique (D)</p> Signup and view all the answers

Which of the following is NOT a reason for following up with customers?

<p>To enhance competitive pricing (B)</p> Signup and view all the answers

What is a common verbal sign of a positive response from a prospect?

<p>This will look great in my bathroom (A)</p> Signup and view all the answers

Which closing technique involves asking the prospect to choose between options?

<p>Closing on a choice (B)</p> Signup and view all the answers

Which of the following techniques addresses customer objections during the closing process?

<p>Closing on an objection (B)</p> Signup and view all the answers

What is a key benefit of maintaining contact with a prospect after a sale?

<p>To ensure customer loyalty (A)</p> Signup and view all the answers

Which closing technique provides an incentive to make a purchase by offering a bonus item?

<p>Inducement technique (B)</p> Signup and view all the answers

What is a primary advantage of the sales force composite forecasting method?

<p>Salespeople input their knowledge about customer behavior. (D)</p> Signup and view all the answers

Why is the Delphi technique preferred over the jury of executive opinion method?

<p>It promotes consensus without group pressure. (B)</p> Signup and view all the answers

Which of the following is an advantage of the Users’ Expectations approach to forecasting?

<p>It can determine forecasts based on a small number of users. (D)</p> Signup and view all the answers

What does market potential refer to in the context of product forecasting?

<p>The total expected sales for the entire industry. (D)</p> Signup and view all the answers

What characterizes the jury of executive opinion method?

<p>It allows executives to influence each other’s opinions. (B)</p> Signup and view all the answers

Which statement accurately describes the sales potential of a company?

<p>It represents what a company expects to achieve in market share. (C)</p> Signup and view all the answers

What differentiates the Delphi technique from more conventional forecasting methods?

<p>It systematically processes opinions without direct interaction. (D)</p> Signup and view all the answers

In the Users’ Expectations approach, what type of information can management gather?

<p>Detailed product usage from actual product users. (C)</p> Signup and view all the answers

Flashcards

Manufacturing Techniques

Specific methods of producing a product, valuable for a buyer's impression.

Product Uses

Identifying diverse applications increases opportunities to satisfy buyer needs.

Company/Industry Knowledge

Salespeople need a deep understanding of the industry's history, growth potential, current events, size, trends, regulations, market share, and competitive advantages.

Market Size

Understanding the overall extent of a market (local, national, international, or a combination).

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Delphi Technique

A forecasting method using anonymous executive opinions to reach consensus without face-to-face discussions.

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Sales Force Composite

A sales forecasting method based on individual sales representative predictions for a future period.

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Delphi Technique Advantages

Anonymity, independent judgment, less group dynamic influence, and scientific approach.

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Sales Force Composite Advantages

Forecasts from front-line perspectives and uses past sales data for prediction.

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Sales Force Composite

A forecasting method that uses the collective knowledge of sales representatives to estimate sales.

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Delphi Technique

A forecasting method using a structured process, where experts anonymously contribute opinions, then iterate, leading to a consensus.

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Jury of Executive Opinion

A forecasting method where executives share their opinions to estimate future sales, often averaged or consensus-based.

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User's Expectations Approach

Forecasting method based on direct feedback from actual product users about their anticipated needs and preferences.

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Market Potential

The total expected sales of a product or service for an entire industry, within a specific timeframe.

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Sales Potential/Market Share

The portion of the overall market a company can reasonably expect to capture.

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Prospect Information

Gathering details about potential clients like name, age, address, education, reputation, family details, authority to buy, and social contacts.

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Sales Presentation Approach

The initial method used to engage a prospect and set a positive tone for the sales encounter.

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Appointment Planning

Preparing for a sales meeting in advance; includes proactive scheduling, clear objectives, considering possible issues, and personal presentation.

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Product Approach (Sales)

Starting the sales conversation by focusing on the product's features and benefits.

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Compliment Approach (Sales)

Using compliments to create rapport and build a positive connection with the prospect.

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Premium Approach (Sales)

Offering a premium in exchange for customer commitment (e.g., a free membership).

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Question Approach (Sales)

Using questions to understand prospect needs and tailor the pitch accordingly.

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Stimulating Statement Approach (Sales)

Creating interest by evoking emotions or presenting a compelling vision.

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Planning sales approach

Involves preparation, setting goals, anticipating problems, and being attentive to appearance, behavior, and attitude.

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Exhibition Leads

Sales generated by salespeople at exhibitions who demonstrate and discuss their company's product with prospects.

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Spotter

A person who refers potential customers to a salesperson.

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Influence Centre

A person with influence who promotes a specific product/company. Ex well-known sports stars

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Cold Canvassing

Prospecting when a salesperson has little to no prior knowledge of the prospect.

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Influence Centre (OUTsurance Example)

Using well-known figures like Katlego Maboe to attract potential customers who admire them to OUTsurance.

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Endless-Chain Technique

Asking satisfied customers for referrals, leading to more prospective clients.

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Direct Mail/Brochures (Prospecting)

Generating inquiries using mail and brochures to advertise OUTsurance's services. Salespeople follow up on these inquiries.

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Social Media (OUTsurance)

Using social media to publicize products and interact with prospective clients.

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Endless-Chain Technique Advantages

Reduced prospecting/approach time, easier appointments, and pre-qualified prospects( already interested in need/affordability) by the referrer

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Pre-Approach Information

Gathering information about the prospect before the sales presentation to tailor the approach.

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Prospect Handling Article Interest

Observing how a prospect interacts with a product or service they're interested in, like examining the materials or taking the contract to carefully review

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Post-Unsuccessful Close Steps

Actions to take after a sale attempt is unsuccessful, including building goodwill, reviewing the presentation, documenting events, understanding reasons for refusal, identifying mistakes, and staying in contact

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Closing Techniques

Methods used by salespeople to finalize a deal, including assumptive, minor questions, direct, inducement, emotional, physical action, weighing advantages, and standing room only

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Closing on an Objection

Addressing customer hesitation or concerns by showing similar cases where other customers overcame reluctance through example, potentially using social proof

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Standing Room Only Technique

Highlighting limited supply or time sensitivity to motivate immediate purchase decisions

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Inducement Technique

Offering an incentive (prize, gift) to encourage customers to make a purchase.

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Closing on a Choice

Presenting customers with choices to guide them to a desired outcome or decision, reducing choice overload.

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Assumptive Close Technique

Implying commitment or agreement by asking questions that assume a 'yes'.

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Direct Approach Technique

Promptly asking the prospect if they would like to purchase.

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Customer Follow-up Reasons

Reasons for following up with clients after a sale. Including ensuring customer satisfaction, loyalty, building relationships, providing support, handling complaints, and offering customer care.

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Customer Follow-up Activities

Actions taken after a sale to ensure customer satisfaction, identify future needs, and manage order adjustments.

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Customer Loyalty Retention

Strategies to keep customers coming back and recommending products/services.

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Regular Customer Contact

Contacting customers frequently to show care and maintain engagement.

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Customer Needs & Problems

Actively listening to and addressing customer problems and needs.

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Customer Importance

Making customers feel valued and appreciated for their business.

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Pleasant Personality

Demonstrating a polite and welcoming manner in interactions with customers.

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Customer Knowledge

Understanding customers’ needs , preferences, and staff dynamics.

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Maintaining Customer Enthusiasm

Keeping customers motivated and excited about the product or service.

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Keeping Promises

Honoring commitments and undertakings made to customers.

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Reliable Salesperson

A salesperson who consistently delivers on their promises and commitments to customers.

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Consistent Sales Approach

Maintaining a reliable and predictable approach in interacting with customers.

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Preventing Complaints (Sales)

Actions to avoid customer issues by managing expectations and ensuring the products/services meet needs correctly.

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Complaint Resolution Responsibility

The salesperson's role in addressing customer complaints concerning the product sold. Primarily due to direct customer interaction and expected clarity.

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Customer Feedback Mechanisms

Methods used to gather feedback from customers on products, services, and the business.

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Social Networks Feedback

Gathering customer feedback using social media channels like twitter, instagram, etc.

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Questionnaires Feedback

Employing questionnaires or surveys to obtain formal customer feedback on products or services.

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Salespeople Feedback

Collecting feedback about products or services from salespeople directly.

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Live Chat Feedback

Using live chat functionality to promptly address customer questions and gather feedback directly.

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Avoiding Unfulfilled Promises

Not making promises about the product or service that cannot be kept.

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Customer Need Satisfaction

Providing advice and recommendations that address customer needs effectively.

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Order Documentation

Ensuring that all order documentation is completed correctly to avoid issues and misunderstandings.

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Order Execution Control

Continuously monitoring all aspects of the customer's order to ensure smooth execution.

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Study Notes

Delphi Technique Advantage

  • Reduced bias: The Delphi technique minimizes bias by having experts provide anonymous feedback, preventing individual influence.

Salesperson Industry Knowledge

  • Customer needs: Understanding customer needs and how the product benefits them.
  • Competitor analysis: Identifying competitors, their strengths and weaknesses, and their pricing strategies.
  • Industry trends: Keeping abreast of market trends and changes that could affect the industry's future.
  • Economic conditions: Understanding economic factors like inflation and recession that can impact sales.

Sales Force Composite Method Disadvantage

  • Potential for optimistic bias: Salespeople may overestimate sales due to their own enthusiasm or desire for higher commissions.

Establishing Product Uses

  • Benefit demonstration: Effectively demonstrating the product's benefits and how it solves customer problems.

Successful Sales Approach

  • Building rapport: Establishing a positive connection with the prospect through active listening and showing genuine interest.

Delphi Over Traditional Opinion

  • Reduced groupthink: The Delphi technique's anonymity encourages independent thinking and prevents group pressure.

Compliment-Based Approach

  • Ingratiating approach: Beginning the sales conversation with a compliment to create a positive first impression.

Non-Essential Knowledge

  • Personal details: Information about a prospect's personal life, such as hobbies or family, is generally not relevant.

Salesperson Appearance

  • Professionalism: A well-groomed appearance conveys professionalism and builds confidence in the salesperson.

Sales Force Composite Function

  • Gathering individual sales forecasts: Each salesperson predicts their own sales for a specific period.

Prompting Excitement

  • Emotional appeal: Engaging the prospect emotionally through storytelling or vivid descriptions.

Product Use Effectiveness

  • Clarity and relevance: The product's uses must be clearly explained and relevant to the prospect's needs.

Questioning Mistakes

  • Leading questions: Avoid directing the prospect towards a specific answer.

Inappropriate Approach Techniques

  • High-pressure tactics: Using forceful or aggressive techniques to close a deal can backfire.

Pre-Approach Information

  • Prospect background: Understanding the prospect's business, industry, and challenges.

Sales Approach Objectives

  • Clear goals: Setting specific, measurable, achievable, relevant, and time-bound goals.

Customer Satisfaction Activity

  • Follow-up: Reaching out to the customer after the sale to ensure satisfaction and address any issues.

Customer Loyalty Guideline

  • Product quality: Offering a high-quality product is a fundamental requirement for customer loyalty.

Complaint Prevention

  • Proactive communication: Regularly communicating with customers to address concerns before they escalate.

Customer Feedback

  • Customer surveys: Gathering feedback through surveys or questionnaires to understand customer satisfaction levels.

Salesperson Complaint Responsibility

  • Point of contact: The salesperson typically serves as the primary contact for handling customer complaints.

Keeping Promises

  • Follow-through: Ensuring that the salesperson follows through on all commitments made to customers.

Showing Gratitude

  • Thank-you notes: Sending a personalized thank-you note after a sale demonstrates appreciation.

Misunderstanding Prevention

  • Order confirmation: Carefully reviewing and confirming the details of customer orders.

Influence Center

  • Decision-maker: Identifying the person within a company who holds influence over purchase decisions.

Cold Canvassing Knowledge

  • Limited knowledge: A salesperson engaging in cold canvassing typically has minimal prior information about the prospect.

Endless-Chain Technique Advantage

  • Networking opportunities: Each customer referral leads to potentially more customers.

Direct Mail and Brochures

  • Targeted messaging: Utilizing direct mail and brochures to target specific prospects based on their needs.

Spotter Role

  • Prospect identification: A spotter identifies potential prospects for the salesperson.

Social Media Prospecting Advantage

  • Reaching a wider audience: Social media allows salespeople to connect with potential customers online.

Pre-Approach Information Purpose

  • Personalized approach: Gathering information allows salespeople to tailor their approach to each individual prospect.

Spotter Fact

  • Spotters may be associated with a specific niche: Spotters often focus on specific industries or markets.

Unsuccessful Close Action

  • Follow-up: Contacting the prospect after a failed close to address any concerns and explore future possibilities.

Availability Closing Technique

  • Scarcity: Emphasizing the limited availability of the product to create a sense of urgency.

Follow-Up Reasons

  • Building relationships: Continuing to engage with customers to strengthen the relationship.

Positive Verbal Sign

  • Questions: Prospects asking questions often indicates interest.

Option Choice Closing

  • Alternative closing: Providing the prospect with two or more attractive options to encourage a decision.

Objection Handling During Closing

  • Addressing concerns: Addressing customer doubts and objections before attempting to close the sale.

Post-Sale Contact Benefit

  • Loyalty building: Maintaining contact reinforces the relationship and increases customer loyalty.

Bonus Item Closing

  • Incentive: Offering an additional item or reward to encourage a purchase.

Sales Force Composite Advantage

  • Real-world perspective: Incorporates the perspectives of salespeople who are closest to customers.

Delphi Over Jury of Executive Opinion

  • Structured process: The Delphi technique uses a structured process for gathering and evaluating expert opinions.

Users’ Expectations Advantage

  • Customer insight: Provides insights into customer demand based on their planned purchases.

Market Potential

  • Total possible sales: The maximum achievable sales for a product within a specific market.

Jury of Executive Opinion Characteristics

  • Senior management input: Relies on the opinions of senior management members.

Sales Potential

  • Realistic achievable sales: A company's realistic sales potential based on market factors and company resources.

Delphi Distinguishing Factor

  • Iterative feedback: Experts provide feedback anonymously, and their responses are iteratively shared to improve the quality of the forecast.

Users’ Expectations Information

  • Purchasing plans: Management can gather information about customer intended purchases.

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Description

This quiz covers fundamental concepts of sales management, including the roles and benefits of effective sales strategies. It also highlights key personality traits of successful salespeople and addresses potential disadvantages in the field. Test your knowledge on the vital aspects of sales management and its impact on consumers and businesses.

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