SALES MANAGEMENT AND MARKETING FORECASTING

Cold calling - contacting a lead for the first time

Commission – a form of sales force compensation in which the amount paid is in direct proposition to the accomplishment of specific objectives.

Company sales forecast - a prediction of unit or dollar sales for the given period in total or broken down by product, segment or other categories’ and based on the marketing strategy that will be put in place

A Prospect - a potential buyer interested in the seller’s product

Quotas are quantitative objectives used to direct sales force activity and evaluate performance.

Sales territory – all the actual and potential customers often within a specific geographic area, for which the salesperson has responsibility

Sales management is the management of Personal Selling function.
Personal Selling is a person to person process by which the seller learns about the prospective buyers want and sees to satisfy them by offering suitable goods or services and making a sale. (Keokemoer 2005)

Selling is convincing the prospect to convince him or her to buy a product or service. Buyers can buy without a salesman being presented but they tend to buy minimum quantities and to confine their orders to known lines.

Importance of Salespeople in management A sales function covers such activities 1. The presentation, demonstration and sale of company goals, negotiation on quality price and delivery etc 2. The continuous examination of the market and reporting on competitive methods , profits and prices. Reporting on shortages oversupply and changes in trading conditions 3. The maintenance of adequate stocks of his company ‘s good by distributors and users. Care in ensuring that customer keep the goods under