MKTG 473 Exam 1

Workload Approach

-FORMULA: Number of Salesppl = Total Selling Effort Needed/Average Selling Effort per Salesperson -key factor is total amount of selling effort needed -relatively simple -suited for all types of selling situations -most sophisticated firms use decision models, others use portfolio or single factor

Breakdown Approach

-FORMULA: Saleseforce Size = Forecasted Sales/Average Sales per Salesperson -assumes accurate sales forecast is available, then it is "broken down" to determine number of salesppl needed -easy to develop -conceptually weak -most often used -best suited for stable selling environments where sales change in slow predictable ways, no strategic changes are planned, and for organizations that use commission compensation plans and keep fixed costs low

Personal Selling Approaches

-Stimulus Response, Mental States, Problem Solving, Need Satisfaction, and Consultative Selling

Farmers

-account servicing people -increase sales as they build customer share, improve seller's position within each account -AKA Order-Takers

Low-Costsupplier Strategy

-aggressive construction of efficient-scale facilities -vigorous pursuit of cost reductions from experience -tight cost -overhead control -usually associated with high relative market share Role of Salesforce: -servicing large current customers -pursuing large prospects -minimizing costs -selling on basis of price -usually assuming significant order-taking possibilities

Customer Relationship Management (CRM)

-business strategy resulting in developing most appropriate relationship with customer -process is supported by technology that may not yield deep or strategic partnerships with all customers -requires integrated, cross-functional business processes, specific organizational capabilities, appropriate business philosophy, and right technology -successful companies focus on technology last

Forecasting with Regression Analysis

-can be used at all organizational levels as well as company wide -determinants: environmental, organizational, or salesperson factors -SPSS can be used to estimate parameters PROS -identifies unknown factors affecting market response -provides objective forecasting method -develops sales forecasts that explicitly consider characteristics of control unit, easy to translate into sales quotas CONS -requires a lot of data -requires some technical skill and expertise to use -factors affecting market must be accurately identified -does not consider effects of seasonal variations -only incorporates independent effects of determinant variables, but they are highly interrelated -equation is linear, but determinant relationships are probably nonlinear -can be addressed by linear regression on logarithms of actual data: Territory Sales = (a)(environmental^b1)(organizational^b2)(salesperson^b3) FORMULA: Territory Sales = a+(b1)(environmental factor)+(b2)(organizational factor)+(b3)(salesperson factor)

Specialization

-certain individuals concentrate on performing some required activities to the exclusion of others

Distributors

-channel middlemen that take title to goods they market to end users -employ own salesforce and may carry: 1. products of only one manufacturer 2. related but noncompeting products from different manufacturers 3. competing products from different manufacturers

Marketing Strategy

-consists of a mixture of personal selling, advertising, sales promotion, and publicity -emphasis on personal selling or advertising -selection of target market and development of marketing mix are key components -sales promotion and publicity viewed as supplemental tools

Differentiation Strategy

-creation of something unique -provides insulation against competitive rivalry because of brand loyalty, resulting lower price sensitivity Role of Salesforce: -selling non-price benefits -generating orders -providing high quality of customer service and responsiveness -possibly significant amount of prospecting if high-growth industry -selecting customers based on low price sensitivity -requires high-quality salesforce

Need Satisfaction Selling

-customers motivated to buy to satisfy particular needs -help customers identify those needs -focus on customer -use questions to uncover needs, customer dominates interaction until needs are established, then salesperson moves to more active selling role PROS -appreciated by customers, POV and unique circumstances are addressed -minimizes resistance from prospect that happens when salesperson rushes to the sale

Centralization

-degree to which important decisions and tasks are performed at higher levels in management hierarchy -authority and responsibility placed at higher management levels -senior leadership team does not micromanage sales teams

Customer Value

-depends on buyer's situations, needs, and priorities -customer's perception of what they receive in exchange for what they give up

Strategic Business Unit (SBU)

-designated unit within corporation that operates like individual business -used to divide the corporation into parts to facilitate strategic analysis and planning -typically consists of single product or line of related products marketed to defined segments -usually has own sales organization with managers and salesppl Objectives: 1. Build Market Share 2. Hold Market Share 3. Harvest Market Share 4. Divest/Liquidate Market Share

Common Sales Dialogues

-determine if prospective customer has financial resources and interest of future purchase to warrant follow-up -assess pc's situation and buying process -discover pc's specific needs and requirements -confirm pc's strategic priorities -illustrate how sales organization can create and deliver customer value -negotiate an agreement to do business -build customer value by providing additional opportunities -asses extent to which customer is satisfied with value received

Sales Strategy Framework

-develop specific approach for selling to individual accounts within target market -capitalizes on important differences among individual accounts or groups of similar accounts -major impact on firm's sales and profit performance -influences other sales management decisions Characteristics: 1. competitive market intelligence 2. personal selling 3. distributor management 4. account management 5. merchandising 6. installation 7. after-sales services

Problem-Solving Selling

-extends need satisfaction to developing alternate solutions for satisfying needs -popularized by success of SPIN (Neil Rackham) -not all customer problems are worth solving -SPIN requires salesppl clearly illustrate significance of existing problem and how customer can receive significant customer value from problem solution

Corporate Mission

-first step in strategy formulation process -provides direction for strategy development and execution throughout organization -estimated 20% of companies have a clear mission statement articulated to salesppl by managers -should be simple, complete, and communicated directly to salesppl

Advertising Driven Communication

-generate company and product awareness -identify potential customers -consumer target markets Characteristics: 1. many buyers dispersed geographically 2. low purchase information needs 3. small purchases 4. low-importance purchases 5. low-complexity products 6. post-purchase service not important

Turnover Consideration

-if recommended size is 100 ppl and they experience 20% annual turnover, effective salesforce size should be 120 ppl

Salesforce Deployment

-important sales management decisions involved in allocating selling effort, determining salesforce size, and designing territories -Provides Answers to these Questions: 1. how much selling effort is needed to cover accounts and prospects adequately so sales and profit objects are achieved? 2. how many salespeople are required to provide the desired amount of selling effort? 3. how should territories be designed to ensure proper coverage of accounts and to provide each salesperson with a reasonable opportunity for success?

Independent Representatives

-independent sales organizations that sell complementary, noncompeting goods from different manufacturers -do not carry inventory or take title to products -beneficial to small firms or small markets -paid by commission, more than salesppl PROS -provide professional selling capability that is difficult to match -offer in-depth knowledge of general markets and individual consumers -offer established relationships with individual customers -improved cash flow, payments to reps not made until customer pays -predictable sales expenses, selling costs are variable and directly related to sales volume -provide greater territory coverage, companies can employ more reps than salesppl for same cost -companies can penetrate new markets faster because of established customer relationships CONS -management has less control over activities -not good at servicing accounts -each manufacturer's products will receive 10% of rep's time -do not spend enough time with products thus not generating sufficient sales

Buying Needs

-individual needs are career related -organizational needs reflect factors related to product use

Buying Centers

-individuals from firm that participate in purchase process Possible Roles: 1. Initiators: start organizational purchasing process 2. Users: use the product to be purchased 3. Gatekeepers: control flow of information between buying center members 4. Influencers: provide input for purchasing decision 5. Deciders: make final purchase decision 6. Purchasers: implement purchasing decision

Trade Shows

-industry-sponsored event -booths used to display products and services -used to achieve selling and non-selling objectives

Geographic Sales Organization

-least specialized and most generalized -all geographic areas and accounts served by one salesperson PROS -no geographic or customer duplication -low cost -fewer management levels CONS -limited specialization -lack of management control over product or customer emphasis

Stimulus Response Selling

-minor variations, all customers get same sales presentation -salesppl furnish stimuli (words and actions) to reach desired response (customer purchase) -most suitable for unimportant purchase decisions, constrained time, and when professional buyers are not prospects -dominant approach with telemarketers PROS -through pre-planning, key selling points can be sequenced in a logical order -likely questions and objections can be addressed before voiced by buyer CONS -least flexible and least focused on buyer's unique needs and strategic priorities -not popular with buyers

Incremental Approach

-most rigorous -compares marginal profit contribution with marginal selling costs for each incremental salesperson -difficult to develop -cannot be used for new salesforces where historical data and accurate judgments are not possible

Functional Sales Organization

-most selling situations require number of selling activities -telemarketing and field salesppl specialize by function PROS -efficiency in performing selling activities CONS -geographic and customer duplication -need for coordination

Personal Selling

-most useful in specific target market situations -preferred tool in business marketing Characteristics: 1. few buyers concentrated in location 2. buyer needs a lot of information 3. purchase is important 4. product is complex 5. service after sale is important 6. large purchases 7. channel system short and direct to end users 8. needed in "pushing" product through channel 9. channel intermediaries available to perform personal selling function for supplier with limited resources and experience 10. final price negotiated between buyer and seller 11. selling price or quantity purchased enable an adequate margin to support selling expenses

Selling Strategy

-planning of sales messages and interactions with customers -defined at 3 levels: group of customers (sales territory), individual customers, and specific customer encounters (sales calls)

Product Sales Organization

-popular but declining in importance -assign salespeople selling responsibility for specific products or product lines (equipment and supplies) PROS -salesppl become experts in product attributes and applications -management control overselling effort allocated to products CONS -high cost -geographic and customer duplication

Consultative Selling

-process of helping customers reach their strategic goals by using the products, services, and expertise of the sales organization -Mack Hanan credited with concept in 1970 - salesperson must be expert on customer's business, competitors, and market developments putting them in consultant or advisor role -become popular approach, 7,000 jobs require it on indeed.com -different because it focuses on achieving STRATEGIC goals of customer -takes high level of business expertise, needs additional expertise and proactive support from coworkers and top management -if value cannot be defined beyond price then may be inefficient

Change Agents

-role is to make something happen, catalytic agents -educate potential customers and advance toward ultimate sale

Hunters

-salespeople who focus on gaining new customers -increase market share by adding new customers -AKA Pioneers and Order-Getters

Market Sales Organization

-salesppl assigned specific types of customers and are required to satisfy all needs of these customers (commercial and government accounts) -objective to ensure salesppl understand how customers use and purchase their products PROS -salesppl develop better understanding of unique needs -management control overselling effort allocated to different markets CONS -high cost -geographic duplication

Customer Value Agent

-salesppl helping to create, communicate, deliver, and continually increase customer value

Trust-Based Relationship Selling

-seeks to initiate, develop, and enhance long-term customer relationships by earning customer trust, focusing on customer needs, and having salesperson play a key role in building value received by customer -Selling Foundations, Selling Strategy, Initiating Customer Relationships, Developing CRs, Enhancing CRs

Mental States Selling

-sequential approach where salesperson leads customer through stages or mental stages in buying process -AIDA: get prospective customer's Attention, secure Interest, build Desire for product, and convince prospect to take Action -on-way presentation by salesperson PROS -forces pre-planning, realize timing is important -listen to customers to determine stage CONS -tailoring of presentation based on which mental state customer is in, not particular needs or requirements -difficult to determine what stage buyer is in, may be moving back and forth

Niche Strategy

-service of particular target market -each functionality policy developed with target market in mind -market share in industry might be low, but firm dominates a segment within industry Role of Salesforce: -become experts in operations and opportunities with target market -focus customer attention on non-price benefits -allocate selling time to target market

Span of Control vs. Management Levels

-span of control: number of individuals who report to each sales manager -increases at lower sales management levels -management levels: define number of different hierarchical levels of sales management within organization -flat sales: few sales management levels, large span of control -achieve decentralization -tall structure: more sales management levels, smaller spans of control -centralized organizations

Strategic Account Organization

-strategic account refers to large, important accounts that should receive special attention from sales organization -AKA key account or major account -SAO represents type of market specialization based on account size and complexity -two types: National Account Management (NAM) and Global Account Management (GAM) Factors for Identifying Strategic Accounts: 1. multiple buying locations 2. top management heavily influences purchase decision 3. multiple functions are involved in buying decisions 4. purchasing process is complex and diffuse 5. some purchasing activities are centralized 6. requires special services

Integrated Marketing Communications (IMC)

-strategic integration of multiple marketing communication tools in most effective and efficient manner -key is greater coordination between marketing and sales functions

Missionary Salespeople

-support overall sales effort by "spreading the gospel" at the grassroots level -EXAMPLES: Detailer, Merchandiser

Territory Design

-territory consists of whatever specific accounts are assigned to a specific salesperson Procedure Steps: 1. Select Planning and Control Unit -use smallest unit feasible -trade-off between what is desired and what is possible -states, counties, trading areas, metropolitan areas, cities, ZIP codes, accounts 2. Analyze Opportunity of Planning and Control Unit -most used measure is market potential 3. Form Initial Territories -objective to group planning and control units into territories that are as equitable as possible in opportunity -unlikely to achieve complete equality of opportunity -best approach is to design several territory arrangements and evaluate each 4. Assess Territory Workloads -evaluated by: 1. number of calls required to cover accounts 2. amount of travel time 3. total number of accounts 4. other factors 5. Finalize Territory Design -adjust initial territories to achieve equal workloads for each sales-person -objective to achieve best possible balance between opportunity and workload for each territory 6. Assign Salesppl to Territories -farmers assigned to territories containing ongoing account relationships -hunters assigned to territories in new or less-developed markets

Communications Agent

-two-way communications agents between customers and employers

Team Selling

-use increasing in firms, as a sales channel for firm's most important prospects -consist of employees from different departments to meet prospects at crucial stages of sales process PROS -prospects appreciate the attention CONS -expensive

Sales Professionalism

-use of customer-oriented, truthful, non manipulative sales strategies and tactics to satisfy long-term needs of customers and selling firm -work from a dynamic, ever-changing knowledge base -Sales organizations must be: 1. capable of working in increasingly complex business environments 2. strong collaborators, both in own organizations and with customers 3. accountable for actions and results from an ethical POV

Telemarketing

-using telephone as means for customer contact, to perform some or all activities required to develop and maintain account relationships -outbound and inbound -leads developed and appointments made -consistent communication with field salesforce through all stages of development PROS -low cost -salesppl serve large number of smaller accounts

ADAPT

1. Asses buyer's situation 2. Discover buyer's needs 3. Activate buying process 4. Project impact of solving a problem or realizing an opportunity 5. Transition to sales presentation or next step in buying process

Methods for Calculating Salesforce Size

1. Breakdown Approach 2. Workload Approach 3. Incremental Approach

Current Trends in Sales Professionalism

1. Complexity Issues: -increasing customer expectations driven by buyer dominance, slow growth economies, and increasing competition ---> focus on customer -significant change occurring frequently ---> sales must become more strategic, ceome learning organizations -increasing customer diversity and globalization ---> recruiting and developing salesppl who understand diverse cultures 2. Collaboration Issues: -more internal collaboration needed ---> implement cross-functional programs -sales managers and salesppl need to collaborate more, rather than managers relying on authority to direct sales force ---> managers should build trust with salesppl -need more customer-oriented selling ---> focus on trust-based relationship selling 3. Accountability Issues: -increasing efficiency and effectiveness of sales operations ---> appropriate use of sales technology and more effective sales organization structures -customer demands for ethical, trustworthy salesppl ---> ensure salesppl know ethical and legal framework for their markets

Organizational Strategy Levels

1. Corporate Strategy 2. Business Strategy 3. Marketing Strategy 4. Sales Strategy

Criteria for adding/detracting Customer Value

1. Customer and Market Knowledge: is salesperson knowledgeable about the customer's business, competition, and market conditions? 2. Coordination: does salesperson coordinate with others in their company to solve customer problems or provide opportunities to customer? 3. Efficiency: is time spent with salesperson worthwhile, and can they get things done? 4. Strategic Alignment: does salesperson understand and contribute to achieving the customer's strategic priorities? 5. Trustworthiness: can salesperson be trusted, are they competent, customer oriented, honest, dependable, and compatible with customers?

Key Roles of Salespeople

1. Financial Contributor 2. Change Agent 3. Communications Agent 4. Customer Value Agent

Sales Organization Structures

1. Geographic Sales Organization 2. Product Sales Organization 3. Market Sales Organization 4. Functional Sales Organization 5. Strategic Account Organization

Business Strategy Types

1. Low Cost 2. Differentiation 3. Niche

Buying Situations

1. New Task -organization purchasing product for first time -most problems for buyers -lengthy process to collect and evaluate purchase information due to little knowledge and experience -extensive problem solving 2. Modified Rebuy -account previously purchased and used product -account will want to collect additional information and may make a change -limited problem solving 3. Limited Problem Solving/Straight Rebuy -account has considerable experience using the product -satisfied with current purchase arrangement -routinized response behavior

Selling Foundations

1. Sales Knowledge: -salsesppl must understand what motivates customer's purchases and purchasing processes and protocols -experts on products/services and be able to link features/benefits 2. Skills: -listening, -questioning: SPIN and ADAPT: Asses Discover Activate Project Transition -sales dialogue -sales presentation: face to face 3. Trust Building: ~demonstrate five key attributes: -customer orientation, competence/expertise, dependability, candor/honesty, and compatibility

Sales Organization Concepts

1. Specialization 2. Centralization 3. Span of Control vs Management Levels 4. Line vs Staff Positions

SPIN Selling

1. salesperson investigates Situation 2. determines Problem 3. discusses Implications of problem if left unattended 4. shows how offering can sole problem (Need Payoff)

Jury of Executive Opinion Method

Bottom-up Approach -any approach where executives use their expert knowledge to forecast sales to individual accounts -team-based approach that results in more accurate long-range industry-level forecasts than individually based approaches PROS -provides input from key functional areas -executives have solid understanding of broad-based factors and how they affect sales -provide quick forecasts CONS -require excess amount of executives' time -executives removed from marketplace may not understand firm's sales situation -not suited for firms with large number of products -one or two influential people may dominate process

Survey of Buyer Intentions Method

Bottom-up Approach -any procedure that asks individual accounts about their purchasing plans for a future period and translates these responses into account forecasts -obtained through mail surveys, telephone surveys, personal interviews, etc -may be distorted by buyer's unwillingness to put effort into predicting future needs PROS -forecasts based on customers' buying plans -contacts with customers can provide feedback about possible problems -inexpensive if only few key customers need to be contacted CONS -intentions do not culminate in actual purchases -some firms not willing to disclose buying intentions if they're not regular customers

Salesforce Composite Method

Bottom-up Approach -salesppl provide forecasts for assigned accounts on specially designed forms, electronically, or through company's CRM system PROS -uses input from persons closest to actual markets -provides detailed forecasts (by product, customer, or territory) -enhances salesforce morale by letting their input guide decisions CONS -salesppl underestimate sales when their forecasts are being used to set sales quotas -takes excessive amounts of salesppl's time if done too often -salesppl lack knowledge to evaluate economic situation and how it affects future sales

Delphi Method

Bottom-up Approach, Jury of Executive Opinion -involves selection of panel of managers from within firm, each member submits anonymous forecasts for each account which are summarized into a report, panel members review information and again submit anonymous forecasts PROS -eliminates need for committee or group meetings and group decision-making pitfalls like specious persuasion or bandwagon effect -participants receive input from other experts in isolated environment -allows for voicing of unusual opinions and anonymous mind changing -email enables rapid exchange of ideas CONS -participants selected on willingness to participate and accessibility vs real knowledge or representatives -takes a long time to arrive at consensus -process suffers due to high dropout rate of participants

Marketing Strategy Framework

Characteristics: 1. competitive analysis 2. market research 3. market segmentation 4. product development 5. product positioning 6. pricing 7. packaging 8. advertising

Integration of Sales and Marketing Strategies

Characteristics: 1. target marketing 2. sales forecasting 3. customer account selection 4. value proposition development/customer messaging 5. promotions

Sales Strategy

Elements: 1. Account Targeting Strategy: -classification of accounts within target market into categories to develop strategic approaches for selling to each account or group -provides foundation for all other elements 2. Relationship Strategy: -determination of type of relationship to be developed with different account groups -usually 3-5 target groups 3. Selling Strategy: -planned selling approach for each relationship strategy -five basic approaches: stimulus response, mental states, need satisfaction, problem solving, and consultative 4. Sales Channel Strategy: -ensures accounts receive selling effort coverage in an effective and efficient manner -company salesforce, internet, distributors, independent representatives, team selling, telemarketing, trade shows

Salesforce Size

Key Considerations: 1. Productivity- ratio between outputs and inputs 2. Turnover- costly 3. Organizational Strategy

Corporate Strategy

Key Decision Areas: -corporate mission -strategic business unit definition and objectives Key Decision Makers: -Corporate Management

Business Strategy

Key Decision Areas: -strategy types and execution Key Decision Makers: -Business Unit Management

Marketing Strategy

Key Decision Areas: -target market selection -marketing mix development -integrated marketing communications Key Decision Makers: -Marketing Management

Sales Strategy

Key Decision Areas: -account targeting strategy -relationship strategy -selling strategy -sales channel strategy Key Decision Makers: -Sales Management

Advantages and Disadvantages of Advertising

PROS -inexpensive tools using advertising and telemarketing in early stages of buying process CONS -difficult to achieve -marketers focus on products, analysis, projects, processes, the office, long-term perspective -sales focus on customers, personal relationships, daily activity, results, the field, short-term perspective

Advantages and Disadvantages of Personal Selling

PROS -only promotional tool that consists of personal communication between seller and buyer -personal communication seen as more credible and has more impact than advertised messages -better timing of message delivery -flexibility of communicating different messages to different customers or changing a message during a sales call based on feedback -allows sale to be closed CONS -high cost to reach each member of audience

Buying Process

Phases: 1. Recognition of problem or need 2. Determination of characteristics of item and quantity needed 3. Description of characteristics 4. Search for and qualification of potential sources 5. Acquisition and analysis of proposals 6. Evaluation of proposals and selection of suppliers 7. Selection of order routine 8. Performance feedback and evaluation

Forecasts

Provide Basis for following Sales Management Decisions: 1. Determining salesforce size 2. Designing territories 3. Establishing sales quotas and selling budgets 4. Determining sales compensation levels 5. Evaluating salesperson performance 6. Evaluating prospective accounts Types: 1. Market Potential 2. Market Forecast 3. Sales Potential 4. Sales Forecast

Organizational Buyer Behavior

Revolve around: 1. Buying Situation 2. Buying Center 3. Buying Process 4. Buying Needs

Allocation of Selling Effort

Three basic analytical approaches: 1. Single Factor Models: -easy to develop and use -does not provide comprehensive analysis of results -classify all accounts on one factor and then assign all accounts in same category same number of sales calls -provide managers with systematic approach -most widely used analytical approach 2. Portfolio Models: -more comprehensive -more difficult to develop and use -each account is considered an overall portfolio of accounts, accounts within portfolio represent different situations and receive different levels of selling effort and attention -account attractiveness is a function of account opportunity (account's need and ability to purchase) and competitive position (strength of relationship) -opportunity categories: repurchase, replacement, expansion, and innovation -more comprehensive than single factor 3. Decision Models: -most rigorous and comprehensive -difficult to develop and use -allocate calls to accounts that promise highest sales return -objective to achieve highest level of sales for any given number of calls and continue increasing calls until marginal costs = marginal returns

Market Factor Methods

Top-down, Breakdown Method -involve identifying one or more factors that are related to sales at the zone, region, district, territory, or account levels and using them to break down overall company forecast into forecasts at these levels -use is widespread in management -assessed by comparing actual sales to market factor value in an area

Moving Averages

Top-down, Company Forecasting Method - develops forecast by calculating average company sales for previous years -company sales forecast for next year is the average of actual sales for past X number of years PROS -suited for when forecasts are needed for large number of products -good for products with stable sales -smooths out small random fluctuations -can compensate for trend if double moving average used CONS -requires large amount of historical data -adjusts slowly to changes in sales -assigns equal weight to each period, though most recent periods have more impact -results cannot be tested statistically FORMULA: Next Year Sales Forecast = Actual Sales for past years/Number of years

Exponential Smoothing

Top-down, Company Forecasting Method -company sales in most recent years are weighted differently from sales in past years PROS -simple to understand and use -more weight to recent data points -requires little data storage -accessible software packages available -good accuracy for short-term forecasts CONS -searching needed to find weight -poor for medium and long-term forecasts -erroneous forecasts result from large random fluctuations in recent data -requires large amount of past data FORMULA: Sales forecast for next year = (α)(actual sales this year) + (1 - α)(this year's sales forecast)

Decomposition Methods

Top-down, Company Forecasting Method -involve different procedures that break down previous company sales data into four major components: trend, cycle, seasonal, and erratic events -conceptually sound -requires complex statistical approaches for breaking down sales data into trends PROS -simple to understand -included in most computer packages -acknowledges three key factors: trend, seasonal cycle -breaks past sales into component parts, easier to understand sales pattern CONS -not for longer-range forecasts -doesn't lend itself to statistical analysis of forecast values (no confidence limits or tests of significance)

Top-Down and Bottom-Up Forecasting Approaches

Top-down: consist of different methods for developing forecasts at business unit level, managers then break down company forecasts into zone, region, district, territory, and account forecasts -Company Forecasting Methods (moving averages, exponential smoothing, and decomposition methods) and Breakdown Methods (market factor methods) Bottom-up: consist of different methods for developing forecasts for individual accounts, managers then combine account forecasts into territory, district, region, zone, and company forecasts -Survey of Buyer Intentions Method, Jury of Executive Opinion Method, Delphi Method, and Salesforce Composite Method

Financial Contributor

achieving profit goals, ex: healthy bottom line

Adaptive Selling

can modify their sales messages and behaviors during a sales presentation or as they encounter unique sales situations and customers

Personal Selling

interpersonal communications between buyers and sellers to initiate, develop, and enhance customer relationships

Detailer

salesperson who provides medical professionals pertinent info about drugs to support overall sales effort

Merchandiser

support sales effort by setting up POP displays, rotating stock, and keeping store personnel informed about new products and sales promotions

Customer Orientation Behaviors

~Salesppl who: -personally accountable for customer's desired results -understand customer's business -advocate for customer so they receive max value from selling company -business consultant who thinks beyond current transaction -solve customer problems -creative in responding to customer needs -easily accessible