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Notes for D099 - Sales Management
1. Introduction to Sales Management
- Sales management oversees hiring, training, and directing a sales team.
- Focuses on increasing revenue through strategy and planning.
2. Sales Strategies
- Transactional Selling - Quick, one-time sales.
- Relationship Selling - Builds long-term customer connections.
- Solution Selling - Focuses on customer needs and tailored solutions.
- Consultative Selling - Sales rep acts as a trusted advisor.
3. Sales Planning Process
- Market Research - Understand customer needs.
- Target Market Selection - Identify ideal customers.
- Sales Forecasting - Predict future sales trends.
- Budget Allocation - Assign resources effectively.
- Performance Tracking - Adjust strategies based on results.
4. Sales Team Management
- Key Skills for Sales Reps: Communication, negotiation, resilience.
- Training Methods: Role-playing, shadowing, online courses.
- Compensation Plans: Salary, commission, or a mix of both.
5. Key Sales Metrics
- Sales Revenue - Total earnings from sales.
- Conversion Rate - Percentage of leads that turn into customers.
- Customer Acquisition Cost (CAC) - Cost to gain a new customer.
- Customer Lifetime Value (CLV) - Revenue expected from a customer over time.
6. Closing Deals & Negotiation
- Active Listening - Understand customer needs.
- Objection Handling - Address concerns effectively.
- Closing Techniques:
- - Assumptive Close - Act as if the deal is already done.
- - Urgency Close - Use time-limited offers.
- - Summary Close - Recap key benefits before finalizing.
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7. Ethical Sales & Compliance
- Be honest, avoid misleading claims, and build trust.
- Follow laws on consumer protection, contracts, and data privacy.
8. Future Trends in Sales
- AI & Automation - Predictive analytics, automated follow-ups.
- Social Selling - Using LinkedIn, Instagram, Twitter for sales.
- Personalized Selling - Tailoring pitches based on customer behavior.
Quick revision guide for D099 - Sales Management.
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D099 Study Guide Questions
Module 1
Q1: Discuss the 4 key objectives of a sales department, giving an example for each.
- Generating Customers: This objecting involves finding ways to attract buyers, make
sales, and convert potential customers into buying consumers
- Retaining Customers: This objective involves finding ways to keep those buying
customers buying products. It’s essentially the act of retaining customers to make
purchases
- Sales Forecast: The act of predicting future sales, prices, and profitability so a budget
can be created to base operations. This assists in managing the company according to
that budget so that more money is earned than lost
- Product-Market Fit: This involves the monitoring of the target market along with the
products being sold to ensure productive promotion and marketing that reflects a
good product-market fit.
Q2: Define Customer Relationship Management (CRM)? Identify few goals of CRM.
The goals of CRM include using customer data to make better marketing decisions, the
utilization of customer tracking and messaging to form better relationships with
customers, and by creating a customer centric culture that benefits both parties.
Q3: What are the four elements that make up ethical behavior within an organization?
- A written code of ethics and standards
- Ethics training
- Availability of advice on ethical situations (advice lines or ethics offices)
- A system for confidential reporting
Q4: What is the relationship between sales and marketing?
Good marketing generates more sales and sales are determined by the target market.
Marketing involves getting the right product/service to the right people at the right
time/place/and price.
Sales incorporates actually selling the company's products or service to its customers.
Marketing is the process of communicating the value of a product or service to customers
so the product or service sells.
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Q5: Describe the buyer’s journey?
The buyer’s journey is the process the customer goes through to come to the decision to
purchase. It is a journey that the company considers when trying to get a consumer to
make a purchasing decision
- A—Attention: the customer’s attention is grabbed; they are aware the product exists
- I—Interest: The customer’s interest is garnered as features and benefits (details) of
the product is described
- D—Desire: The customer upon being informed of the product and what it’ll do for
them, is desiring of the product
- A—Action: The customer now chooses to purchase the product
Q6: Identify differences between Transactional, and Relationship selling?
- Transactional Selling: short-term single transactions
- Relationship Selling: long term relationship building to ensure customers are satisfied
and retain buyers.
Q7: How does the Social Style Matrix help in Adaptive selling?
Being that the Social Style Matrix is based on social styles and the style of interactions
and communication among people it can help adaptive selling be more adaptive to
different individuals. For instance, if some is an ‘Analytical’ conversation by the
company can be cater to that person’s low responsiveness and low assertiveness
o Analyticals: (They want to know HOW) Low Responsiveness, Low
Assertiveness
o Drivers: (They want to know WHAT) Low Responsiveness, High
Assertiveness
o Amiables: (They want to know WHY) High Responsiveness, Low
Assertiveness
o Expressives: (They want to know WHO) High Responsiveness, High
Assertiveness
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Notes for D099 - Sales Management
1. Introduction to Sales Management
- Sales management oversees hiring, training, and directing a sales team.
- Focuses on increasing revenue through strategy and planning.
2. Sales Strategies
- Transactional Selling - Quick, one-time sales.
- Relationship Selling - Builds long-term customer connections.
- Solution Selling - Focuses on customer needs and tailored solutions.
- Consultative Selling - Sales rep acts as a trusted advisor.
3. Sales Planning Process
- Market Research - Understand customer needs.
- Target Market Selection - Identify ideal customers.
- Sales Forecasting - Predict future sales trends.
- Budget Allocation - Assign resources effectively.
- Performance Tracking - Adjust strategies based on results.
4. Sales Team Management
- Key Skills for Sales Reps: Communication, negotiation, resilience.
- Training Methods: Role-playing, shadowing, online courses.
- Compensation Plans: Salary, commission, or a mix of both.
5. Key Sales Metrics
- Sales Revenue - Total earnings from sales.
- Conversion Rate - Percentage of leads that turn into customers.
- Customer Acquisition Cost (CAC) - Cost to gain a new customer.
- Customer Lifetime Value (CLV) - Revenue expected from a customer over time.
6. Closing Deals & Negotiation
- Active Listening - Understand customer needs.
- Objection Handling - Address concerns effectively.
- Closing Techniques:
- - Assumptive Close - Act as if the deal is already done.
- - Urgency Close - Use time-limited offers.
- - Summary Close - Recap key benefits before finalizing.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
7. Ethical Sales & Compliance
- Be honest, avoid misleading claims, and build trust.
- Follow laws on consumer protection, contracts, and data privacy.
8. Future Trends in Sales
- AI & Automation - Predictive analytics, automated follow-ups.
- Social Selling - Using LinkedIn, Instagram, Twitter for sales.
- Personalized Selling - Tailoring pitches based on customer behavior.
Quick revision guide for D099 - Sales Management.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
D099 Study Guide Questions
Module 1
Q1: Discuss the 4 key objectives of a sales department, giving an example for each.
- Generating Customers: This objecting involves finding ways to attract buyers, make
sales, and convert potential customers into buying consumers
- Retaining Customers: This objective involves finding ways to keep those buying
customers buying products. It’s essentially the act of retaining customers to make
purchases
- Sales Forecast: The act of predicting future sales, prices, and profitability so a budget
can be created to base operations. This assists in managing the company according to
that budget so that more money is earned than lost
- Product-Market Fit: This involves the monitoring of the target market along with the
products being sold to ensure productive promotion and marketing that reflects a
good product-market fit.
Q2: Define Customer Relationship Management (CRM)? Identify few goals of CRM.
The goals of CRM include using customer data to make better marketing decisions, the
utilization of customer tracking and messaging to form better relationships with
customers, and by creating a customer centric culture that benefits both parties.
Q3: What are the four elements that make up ethical behavior within an organization?
- A written code of ethics and standards
- Ethics training
- Availability of advice on ethical situations (advice lines or ethics offices)
- A system for confidential reporting
Q4: What is the relationship between sales and marketing?
Good marketing generates more sales and sales are determined by the target market.
Marketing involves getting the right product/service to the right people at the right
time/place/and price.
Sales incorporates actually selling the company's products or service to its customers.
Marketing is the process of communicating the value of a product or service to customers
so the product or service sells.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
Q5: Describe the buyer’s journey?
The buyer’s journey is the process the customer goes through to come to the decision to
purchase. It is a journey that the company considers when trying to get a consumer to
make a purchasing decision
- A—Attention: the customer’s attention is grabbed; they are aware the product exists
- I—Interest: The customer’s interest is garnered as features and benefits (details) of
the product is described
- D—Desire: The customer upon being informed of the product and what it’ll do for
them, is desiring of the product
- A—Action: The customer now chooses to purchase the product
Q6: Identify differences between Transactional, and Relationship selling?
- Transactional Selling: short-term single transactions
- Relationship Selling: long term relationship building to ensure customers are satisfied
and retain buyers.
Q7: How does the Social Style Matrix help in Adaptive selling?
Being that the Social Style Matrix is based on social styles and the style of interactions
and communication among people it can help adaptive selling be more adaptive to
different individuals. For instance, if some is an ‘Analytical’ conversation by the
company can be cater to that person’s low responsiveness and low assertiveness
o Analyticals: (They want to know HOW) Low Responsiveness, Low
Assertiveness
o Drivers: (They want to know WHAT) Low Responsiveness, High
Assertiveness
o Amiables: (They want to know WHY) High Responsiveness, Low
Assertiveness
o Expressives: (They want to know WHO) High Responsiveness, High
Assertiveness
Downloaded by madiba South Africa stuvia ()
