WGU D099 SALES MANAGEMENT STUDY GUIDE
"right" principle
Getting the right goods or services to the right people at the right place, time, and price,
using the right promotional techniques
360-degree customer view
A process of collecting aggregated data from various customer touchpoints for complete
understanding of the customer and to guide interactions with the customer
401(k) plans
A qualified retirement plan that allows eligible employees of a company to save and
invest for their own retirement on a tax-deferred basis
80/20 rule
Suggests that 20 percent of your activities will account for 80 percent of your results
absolute error percentage
A measure of error that can be calculated by subtracting the absolute value of the
difference between the actual sales and the forecasted sales divided by the actual sales
absorption costing
Companies treat all manufacturing costs, including both fixed and variable
manufacturing costs, as product costs
account management
Maintaining a long-term relationship with customers who purchased from the firm in the
past
account-based marketing (ABM)
Concentrates sales and marketing resources on a clearly defined set of target accounts
within a market and employs personalized campaigns designed to resonate with each
account
accounts
,Current business clients' records of transactions
achievement test
A type of test that measures someone's current knowledge
Active accounts
Have consistent transactions and engagement with the business
activity center
An activity center is a unit of the organization that performs some activity
activity goals
A metric that measures how many sales calls of each type a representative has to make
in a certain period of time
Activity-based costing
A costing method that first assigns costs to activities, then assigns costs to products
based on their consumption of activities
adaptive selling
Using social styles to customize a sales approach to the specific customer
Affective job satisfaction
A person's emotional feeling about the job as a whole
Affiliative selling relationships
A situation where the buyer needs extensive expertise from the seller to make a
decision
algorithm
A process or set of rules to be followed in calculations or other problem-solving
operations, especially by a computer
Alliance agreements
A formal agreement among companies who want to share resources to create a
competitive advantage
,American Marketing Association Code of Conduct/Ethics (AMA)
American Marketing Association's standard of professional ethical norms and values for
its members (practitioners, academics and students)
Analytical decision-making
An approach where a leader or manager only makes important business decisions with
solid data or information in hand
applicant pool
The total number of people who have applied for an open position
approach
The salesperson meets the buyer and introduces the company
aptitude test
A type of test that measures a person's ability to learn new skills
artificial intelligence
An area of computer science that emphasizes the creation of intelligent machines that
work and react like humans
assumptions
Anything that is accepted as true or certain to happen, without any proof
Asynchronous learning
Self-directed learning with no instructor
balance sheet
A balance sheet is a statement of assets, liabilities, and capital for an organization at a
particular point in time
Behavioral data
Data based on a customer's action or behavior
big data
Large, complex data sets that require nontraditional data processing software
, big data analytics
Large, complex data sets that require non-traditional data processing software to predict
trends and forecasts
Biographical information blanks (BIBs)
A series of questions about a person's history that may have shaped his or her behavior
BOFU
Marketing acronym for the bottom of the sales/buyer journey funnel
boundary spanners
An individual who has the role of connecting an organization's internal network with
external sources of information
brag book
A list of recommendation letters, awards, and achievements that the candidate shares
with the interviewer
brand trust
The willingness of the average consumer to rely on the ability of the brand to perform its
stated function.
breakdown model
Determining the size of a sales force by dividing the sales expected from each
representative
Brown bag lunch training delivery
A training delivery meant to create an informal atmosphere in which the training occurs
during lunchtime, employees bring their food, and someone presents training
information to them
business-to-business (B2B)
Sales to another company that consumes the product or services as part of operating
the business or uses the product in the assembly of the final product it sells to
consumers
business development
"right" principle
Getting the right goods or services to the right people at the right place, time, and price,
using the right promotional techniques
360-degree customer view
A process of collecting aggregated data from various customer touchpoints for complete
understanding of the customer and to guide interactions with the customer
401(k) plans
A qualified retirement plan that allows eligible employees of a company to save and
invest for their own retirement on a tax-deferred basis
80/20 rule
Suggests that 20 percent of your activities will account for 80 percent of your results
absolute error percentage
A measure of error that can be calculated by subtracting the absolute value of the
difference between the actual sales and the forecasted sales divided by the actual sales
absorption costing
Companies treat all manufacturing costs, including both fixed and variable
manufacturing costs, as product costs
account management
Maintaining a long-term relationship with customers who purchased from the firm in the
past
account-based marketing (ABM)
Concentrates sales and marketing resources on a clearly defined set of target accounts
within a market and employs personalized campaigns designed to resonate with each
account
accounts
,Current business clients' records of transactions
achievement test
A type of test that measures someone's current knowledge
Active accounts
Have consistent transactions and engagement with the business
activity center
An activity center is a unit of the organization that performs some activity
activity goals
A metric that measures how many sales calls of each type a representative has to make
in a certain period of time
Activity-based costing
A costing method that first assigns costs to activities, then assigns costs to products
based on their consumption of activities
adaptive selling
Using social styles to customize a sales approach to the specific customer
Affective job satisfaction
A person's emotional feeling about the job as a whole
Affiliative selling relationships
A situation where the buyer needs extensive expertise from the seller to make a
decision
algorithm
A process or set of rules to be followed in calculations or other problem-solving
operations, especially by a computer
Alliance agreements
A formal agreement among companies who want to share resources to create a
competitive advantage
,American Marketing Association Code of Conduct/Ethics (AMA)
American Marketing Association's standard of professional ethical norms and values for
its members (practitioners, academics and students)
Analytical decision-making
An approach where a leader or manager only makes important business decisions with
solid data or information in hand
applicant pool
The total number of people who have applied for an open position
approach
The salesperson meets the buyer and introduces the company
aptitude test
A type of test that measures a person's ability to learn new skills
artificial intelligence
An area of computer science that emphasizes the creation of intelligent machines that
work and react like humans
assumptions
Anything that is accepted as true or certain to happen, without any proof
Asynchronous learning
Self-directed learning with no instructor
balance sheet
A balance sheet is a statement of assets, liabilities, and capital for an organization at a
particular point in time
Behavioral data
Data based on a customer's action or behavior
big data
Large, complex data sets that require nontraditional data processing software
, big data analytics
Large, complex data sets that require non-traditional data processing software to predict
trends and forecasts
Biographical information blanks (BIBs)
A series of questions about a person's history that may have shaped his or her behavior
BOFU
Marketing acronym for the bottom of the sales/buyer journey funnel
boundary spanners
An individual who has the role of connecting an organization's internal network with
external sources of information
brag book
A list of recommendation letters, awards, and achievements that the candidate shares
with the interviewer
brand trust
The willingness of the average consumer to rely on the ability of the brand to perform its
stated function.
breakdown model
Determining the size of a sales force by dividing the sales expected from each
representative
Brown bag lunch training delivery
A training delivery meant to create an informal atmosphere in which the training occurs
during lunchtime, employees bring their food, and someone presents training
information to them
business-to-business (B2B)
Sales to another company that consumes the product or services as part of operating
the business or uses the product in the assembly of the final product it sells to
consumers
business development
