WGU Sales Management (NBO1 / PNBO) Vocabulary Flashcards

Comprehensive vocabulary flashcards generated from the WGU Sales Management (NBO1 / PNBO) study guide covering all 8 topic areas.

Relationship Sales Approach

A sales approach in which a salesperson establishes ongoing communication with a prospective customer to get to know them and ensure current as well as future sales.

Integrated Marketing Communications

A promotional concept where a business designs a unified campaign incorporating social media advertising, print promotional pieces, online promotions, and special launch events.

Responsive Listening

A verbal communication practice that encourages the salesperson to repeat back to the customer what they believe the customer needs.

Missionary Salesperson

A sales role in which an individual visits decision-makers (such as college professors) to demonstrate product offerings in hopes they will adopt the product for future use.

Direct Sales Channel

A sales channel where a manufacturing company sells its products directly to consumers from its own store located at the factory.

Gatekeeper

A business-to-business (B2B) stakeholder who controls the flow of information and access to decision-makers, such as an administrator filtering meeting requests for a principal.

Request for Proposal (RFP)

A document used by buying organizations to solicit competitive bids from suppliers regarding price, quality, and after-sales service.

Supplier Selection Stage

The stage in the organizational buying process where decision-makers review submitted proposals from vendors and choose a supplier.

Producer Role

The role played in the business-to-business (B2B) buying process by a firm that purchases raw materials to manufacture components for major manufacturers.

Contracting by Negotiation

A government purchasing type used when an agency issues an RFP exceeding high monetary thresholds (e.g., $1,000,000) and collaborates directly with developers on complex technical requirements.

New Task Purchase

A business buying situation where an organization purchases customized equipment or services for the very first time, such as expanding into a foreign market.

Joint Research and Development Agreement

A strategic relationship formed when two companies partner to jointly create a new product for an industry they both serve.

Market Segmentation in CRM

The process of dividing a market into distinct subsets to identify specific data used for customizing buyer messaging.

Undifferentiated Marketing

A market-coverage strategy where a firm targets the whole market with a single offer, such as advertising on mass-audience television programs.

Variety (Big Data)

A characteristic of big data that refers to managing diverse data formats, including multimedia and unstructured data.

Customer Attrition Analytics

A form of predictive analytics used by sales managers to monitor and track historical trends regarding why customers discontinue purchasing products.

Matrix Structure

An organizational structure where employees report to two direct supervisors, which can lead to conflict in performance.

Centralized Organizational Structure

A formal organizational structure in which decision-making authority resides exclusively with executive leadership.

Limited Problem-Solving Mindset

A consumer mindset in which buying decisions are directly swayed by advertising and promotional materials.

Equal Pay Act of 1963

A federal law violated when an employer hires a female candidate at a lower exempt salary status than male counterparts in equivalent sales roles.

Social Recruiting

The practice of recruiting job candidates by posting openings and sourcing applicants on popular online business networking platforms.

Disparate Treatment

A form of intentional employment discrimination occurring when an applicant is treated differently based on a protected characteristic, such as selecting an older candidate due to age-related maturity biases.

Reliability in Selection

The consistency of a measure or test over time, demonstrated when specific interview answers consistently correlate with cultural fit and job success.

Piece-Rate Compensation

A sales compensation structure where an individual is paid a fixed rate for every individual unit sold.

Sales Performance Incentive Fund (SPIF)

A component of a firm's compensation plan set aside to fund special incentive contests and short-term rewards for top-performing sales reps.

Non-Recoverable Draw

A compensation system where new hires receive a guaranteed payment amount per sales goal that does not have to be paid back if sales quotas are missed.

Management by Objectives (MBO)

A performance appraisal approach where a manager and subordinate jointly establish quantitative performance goals and evaluate completion against those goals.

Recency Error

A performance appraisal bias occurring when an evaluator focuses disproportionately on an employee's recent performance rather than the entire evaluation period.

Expense Ratios

Financial ratio metrics used to evaluate the cost of converting prospects into actual paying customers over a defined period.

Subjective Performance Measurement

A sales evaluation method assessing non-quantitative elements, such as how personal characteristics contributed to closing sales.

Asset Turnover Rate

A financial efficiency ratio that a company must increase to improve its return on assets managed when profit margin remains constant.

Activity-Based Costing

A costing method that identifies and assigns all indirect costs associated with product sales for internal financial reporting.

Contribution Margin Income Statement

An income statement format that separates variable expenses from fixed costs and serves as the foundation for structuring commission based on sales less variable costs.

Exponential Smoothing

A quantitative forecasting approach that assigns greater mathematical weight to recent sales data and lower weight to older sales data.

Combination Quota

A type of sales quota that combines multiple metrics, such as revenue proceeds and sales capacity.

Delphi Method

A forecasting data collection technique involving panel experts whose primary disadvantage is being time-consuming in generating results.

Time Series Technique

A quantitative forecasting approach where historical sales data are segmented and analyzed across time periods to project future growth rates.