Introduction to Sales Management Flashcards

A complete set of vocabulary flashcards defining sales management concepts, benefits to stakeholders, the seven-step selling process, and environmental variables.

Sales Management (Charles M. Futrell)

The attainment of sales force goals in an effective and efficient manner through planning, staffing, training, directing, and evaluating organizational resources.

Economic Stimuli

A benefit to society where salespeople are supposed to encourage action.

Diffusion of innovation

The process of distributing new products, services, and ideas to the members of the society.

Revenue Producers

A role of salespersons in business firms concerned with sales revenue and overall profitability.

Market Research & Feedback

The activity where salespersons provide information to the company due to their constant and direct contact with customers.

Planning (Sales Management)

The process of setting sales goals, developing strategies, and outlining the necessary steps and resources needed to achieve those goals.

Coordination

The process of aligning and synchronizing the activities, efforts, and strategies of the sales team with other departments to achieve common business goals.

Controlling

The process where the sales manager guides, leads, and motivates subordinates to accomplish planned goals and ensures alignment with organizational objectives.

Motivating

The actions and strategies used to inspire and encourage sales teams to perform at their best and achieve their targets.

Selling

A process consisting of the interaction between a possible buyer and a representative hired by a company to vend its products.

Pre-approach

The step in the selling process that involves preparing for the first contact with a possible customer.

Approach

The initial face-to-face interaction a salesperson has with the prospective customer.

Presentation

Actively listening to the needs and wants of the potential customer and demonstrating how the firm's product can meet those needs and wants.

Closing

The selling process step that involves identifying closing signals from the prospect that indicate it is decision time.

Follow-up

The final step of the selling process focused on building a long-term relationship with customers for the purpose of repeat sales.

External Environment Variables

Factors influencing sales grouped into five categories: Economic, Legal and Political, Technological, Social and Cultural, and Natural.

Internal Environment Variables

Factors within the organization grouped into six categories: Goals, objective and culture; Human Resources; Financial Resources; Production and supply chain capabilities; Service capabilities; and Research and development and technological capabilities.