Sales Management Lecture Notes

A collection of key vocabulary terms and their definitions from the sales management lecture notes.

Sales Management (SM)

All activities, processes, and decisions involved in managing the sales functions in an organization.

Team Selling Structure

Teams formed to meet customer needs, enhancing the effectiveness of salespeople.

Long-term relationships

An approach in sales management focusing on developing enduring connections with customers.

Coaching Sales Management Style

A leadership style that emphasizes mentoring and empowering salespeople to make decisions.

Globalization

Connecting people, cultures, world economies through the exchange of goods, services, investments, technology, data, and ideas.

Antitrust Laws

Laws aimed at preserving and enhancing competition among firms in an industry.

Consumer Protection Laws

Laws aimed to protect consumers by ensuring accurate product information and prohibiting misleading advertising.

Customer Relationship Management (CRM)

A combination of technologies, strategies, and practices that help businesses manage and analyze their customer interactions.

Market Potential

Estimate of possible sales for an entire industry in a market during a stated period under ideal conditions.

Sales Forecast

An estimate of dollar or unit sales for a specific future period.

Role Perceptions

The degree to which a salesperson's perception of role partners' demands are accurate.

Organizational Citizenship Behaviors (OCBs)

Behaviors expected from employees, such as sportsmanship, civic virtue, conscientiousness, and altruism.

Customer Centric Culture

A partnership business model where customer needs and satisfaction are prioritized.

Intrinsic Rewards

Rewards that come from within the salesperson, such as personal satisfaction or achievement.

Role Conflict

Occurs when a salesperson believes role demands of two or more role partners are incompatible.

Role Ambiguity

Occurs when a salesperson believes he/she does not have the information necessary to perform the job adequately.

Salesperson Performance

Evaluated based on factors like role perception, motivation, and the external environment.

Sales Process Stages

The steps involved in selling, including prospecting, opening relationships, qualifying prospects, presenting, closing, and servicing accounts.

Drivers for Globalization

Factors such as easy customer communication and growing opportunities outside of domestic markets that enhance globalization.

Cultural Differences in Selling

Understanding and adapting selling approaches to diverse cultural and ethical customs.

Effective Customer Feedback

Maintaining customer loyalty through active communication, satisfaction checks, and responsive service.

Sales Evaluation and Control Process

The process that assesses, identifies deviations, and makes necessary changes to sales programs.