...ASTD Sales Training Drivers | 1 © 2010 by the American Society for Training & Development (ASTD) All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, please contact ASTD, 1640 King Street, Box 1443, Alexandria, VA 22313-1443 (telephone: 703.683.8100, fax: 703.683.9203). Print edition ISBN: 978-1-56286-750-8 PDF e-book edition ISBN: 978-1-60728-862-6 Publisher: ASTD Press Writer: Jennifer J. Salopek Editor: Victoria DeVaux ABOUT ASTD ASTD (the American Society for Training & Development) is the world’s largest professional association dedicated to the training and development field. In more than 100 countries, ASTD’s members work in organizations of all sizes, in the private and public sectors, as independent consultants, and as suppliers. Members connect locally in 130 U.S. chapters and with 30 international partners. ASTD started in 1943 and in recent years has widened the profession’s focus to align learning and performance to organizational results, and is a sought-after voice on critical public policy issues. For more information, visit www.astd.org. The...
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...Identify and describe the categories of value creation on which Best Value currently relies most. Identify and describe the categories of value creation on which Best Value currently relies most Straight commission is a “pay for performance plan” where monetary compensation is strictly tied to the results achieved by the salesperson. It is best used when maximum time is provided for the salespeople to sell while non-selling tasks are minimized. Ordinarily, commissions are in direct correlation and proportionate to the value or volume of completed sales transactions made by the salesperson. Since financial compensation plans are offered as motivational incentives to inspire and energize the sales force to achieve greater results, it is assumed that the higher commissions earned from performance will also produce higher profits for the company (Hoffman, 2007). Because straight commissions are directly paralleled with performance outcome, it is believed that salespeople are motivated to attain a higher level of selling effort (Johnston & Marshall, 2009). The advantage of paying employees on a straight commission basis is that they provide maximum incentives for the salesperson. Straight commissions tend to reward high achievers while discouraging poor performance from salespeople with low productivity. For the company, higher commissions can be used to direct the sales team toward certain products that may produce a higher profit. In addition, it limits the amount of working...
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...The extent of technology usage and salespeople: an exploratory investigation Sylvain Senecal HEC Montreal, Montreal, Canada, and Ellen Bolman Pullins and Richard E. Buehrer University of Toledo, Toledo, Ohio, USA Abstract Purpose – Increasingly, salespeople adopt, or are being asked to adopt, and use a variety of technologies to increase their selling productivity and efficiency. Given this trend, many researchers have begun to explore the question of sales force adoption of technology. However, little work has been done to consider what happens once this technology is adopted. The purpose of this paper is to report two studies that investigated if and why salespeople had different technology usage and if the extent of usage had an impact on their performance. Design/methodology/approach – First, a qualitative study was performed to gain insights about extent of technology usage and the reasons that may explain differences. In order to test some of the research propositions that emerged from the qualitative study, an empirical study was conducted with 130 salespeople. Findings – Innovativeness was found to be helpful in distinguishing between different technology usage levels across various technologies (internet, e-mail, intranet, etc.). Results also suggest three potential antecedents of technology use, as well as a potential moderator of the usage to performance relationship. Originality/value – This paper provides a research agenda for studying this important area. Further...
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...strategy can fall apart without this vital leadership. Sales management may be one of the most critical roles that influence the success of an organization. You are closest to two important corporate assets: customers and the sales team. The impact of an effective sales manager can be felt throughout an organization. Unfortunately, the same holds true for those whose attempts are not meeting expectations. It’s challenging. The responsibilities of this role are to execute against a defined strategy and produce results that have been defined by executives who are often many levels above them. But it is also rewarding. It is the sales manager who is both the coach and cheerleader for the revenue engine that will determine if a company makes it to the finish line or falls short. As you build tenure in a sales management role, you will also build a toolbox of resources to help you fulfill those obligations. As the recognized global leader in delivering sales performance solutions, we’ve compiled this Sales Management Guide to add to your personal toolbox. Whether you are new to your role or a seasoned professional looking for new ideas, I invite you to review this guide for ideas that will help you exceed expectations. A company’s success is largely defined by its revenue growth. In your role, you hold a tremendous amount of responsibility for contributing to that success, and the true extent...
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...four major perspectives on CRM: strategic, operational, analytical and collaborative several common misunderstandings about CRM a definition of CRM the six constituencies having an interest in CRM how important CRM issues vary across industries five generic models of CRM. Introduction The expression customer relationship management (CRM) has only been in use since the early 1990s. Since then there have been many attempts to define the domain of CRM, a number of which appear in Table 1.1. As a relatively immature business or organizational practice, a consensus has not yet emerged about what counts as CRM. Even the meaning of the three-letter acronym CRM is contested. For example, although most people would understand that CRM means customer relationship management, others have used the acronym to mean customer relationship marketing.1 Information technology (IT) companies have tended to use the term CRM to describe the software applications that automate the marketing, selling and service functions of businesses. This equates CRM with technology. Although the market for CRM software is now populated with many players, it started in 1993 when Tom Siebel founded Siebel Systems Inc. Use of the term CRM can be traced back to that period. Forrester, the technology research organization, estimates that worldwide spending on CRM technologies will reach US$11 billion per annum by 2010.2 Others with a managerial rather than technological emphasis, claim that CRM is a disciplined approach...
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...1. Primary research vs Secondary research 104 Primary data are data freshly gathered for a specific purpose or for a specific research Project. Primary research is research that's tailored to a company's particular needs. By customizing tried-and-true approaches — focus groups, surveys, field tests, interviews or observation — you can gain information about your target market. Primary research delivers more specific results than secondary research, which is an especially important consideration when you're launching a new product or service. In addition, primary research is usually based on statistical methodologies that involve sampling as little as 1 percent of a target market. This tiny sample can give an accurate representation of a particular market. But professional primary research can be pricey Secondary data are data that were collected for another purpose and already exist somewhere. You can find much of this kind of information in local libraries or on the Web, but books and business publications, as well as magazines and newspapers, are also great sources Although secondary research is less expensive and fast than primary research, it's not as accurate, or as useful, as specific and customized research. 2. Consumer Buying Behavioral vs Business Buying Behavioral A colleague at your place of employment says to you that when it comes to the decision-making process within his company on a major capital equipment purchase, it's a frustrating experience...
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...Implementing an ERP System g. Summary ANSWERS TO END-OF-CHAPTER QUESTIONS Questions for Discussion: 1. Use on-line library databases to identify articles in trade publications which provide case studies of ERP implementations. These articles may provide some insight into each of these questions. a. How widespread is the use of ERP across certain industries? b. What are the benefits reported from implementing ERP? c. What are its limitations? 2. Research and learn about the implementation of ERP. Use trade publications and on-line library databases (e.g. ABI Inform, ProQuest, First Search, Wilson Select Plus, available through your library) to conduct a search for articles. a. Find a success story of ERP implementation. What factors contributed to the success of this implementation? b. Find a story of problems encountered with an ERP implementation. What factors contributed to the obstacles which were encountered?? Possible resources: Austin, Robert D., Sole, Deborah, and Cotteleer, Mark J. “Harley Davidson...
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...Chapter # 1. Introduction to CRM 1.1 Evolution of CRM Customer Relationship Management (CRM) is one of those magnificent concepts that swept the business world in the 1990’s with the promise of forever changing the way businesses small and large interacted with their customer bases. In the short term, however, it proved to be an unwieldy process that was better in theory than in practice for a variety of reasons. First among these was that it was simply so difficult and expensive to track and keep the high volume of records needed accurately and constantly update them. In the last several years, however, newer software systems and advanced tracking features have vastly improved CRM capabilities and the real promise of CRM is becoming a reality. As the price of newer, more customizable Internet solutions have hit the marketplace; competition has driven the prices down so that even relatively small businesses are reaping the benefits of some custom CRM programs. 1.2 In the beginning… The 1980’s saw the emergence of database marketing, which was simply a catch phrase to define the practice of setting up customer service groups to speak individually to all of a company’s customers. In the case of larger, key clients it was a valuable tool for keeping the lines of communication open and tailoring service to the clients needs. In the case of smaller clients, however, it tended to provide repetitive, survey-like information that cluttered databases and didn’t provide much...
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...Customer Relationship Management VSF This book is dedicated to my children Emma and Lewis of whom I am enormously proud. Customer Relationship Management Concepts and Technologies Second edition Francis Buttle AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009, Francis Buttle Published by Elsevier Ltd. All rights reserved. The right of Francis Buttle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax: ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage...
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...KEY TERMS CHAPTER 1 Customer Equity-is the combined discounted customer lifetime values of all the company’s current and potential customers. Customer Lifetime Value-companies are realizing that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. Customer Perceived Value-the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. Customer Relationship Management-is the overall process of building and maintain profitable customer relationships by delivering superior customer value and satisfaction. Customer Satisfaction-depends on the product’s perceived performance relative to a buyer’s expectations. Demands-human wants that are backed by buying power Exchange-is the act of obtaining a desired object from someone by offering something in return Internet-a vast public web of computer networks that connect users of all types all around the world to each other and to an amazingly large “information repository’ Market-is the set of actual and potential buyers of a product Marketing-the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Concept-holds that achieving organizational goals depends on knowing the needs and wants of target markets and building profitable relationships...
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...TE AM FL Y Praise for Marketing Insights from A to Z “The bagwan of Marketing strikes again. Leave it to Phil Kotler to revisit all of our blocking and tackling at just the right time . . . and as all great marketers know: ‘timing is everything.’” —Watts Wacker Founder and CEO, FirstMatter Author, The Deviant Advantage: How Fringe Ideas Create Mass Markets “Wide-ranging, readable, pithy, and right on target, these insights not only are a great refresher for marketing managers but should be required reading for all nonmarketing executives.” —Christopher Lovelock Adjunct Professor, Yale School of Management Author, Services Marketing “Kotler tackles the formidable challenge of explaining the entire world of marketing in a single book, and, remarkably, pulls it off. This book is a chance for you to rummage through the marketing toolbox, with Kotler looking over your shoulder telling you how to use each tool. Useful for both pros and those just starting out.” —Sam Hill Author, Sixty Trends in Sixty Minutes “This storehouse of marketing wisdom is an effective antidote for those who have lost sight of the basics, and a valuable road map for those seeking a marketing mind-set.” —George Day Geoffrey T. Boisi Professor of Marketing, Wharton School of Business “Here is anything and everything you need to know about where marketing stands today and where it’s going tomorrow. You can plunge into this tour de force at any point from A to Z and always come up with remarkable insights and...
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...Summer Project Report on “Market Research and Route Mapping for Tata Iris and Venture” Submitted in partial fulfillment of PGDM program 2013-15 [pic] Submitted by Name: Tapan Sharma Roll Number: 27 Company Guide Faculty Mr. Ankur Aggarwal Dr. Girish Kathuria Territory Sales Manager -SCVP Professor Tata Motors Ltd EMPI BUSINESS SCHOOL New Delhi ACKNOWLEDGEMENT I express my sincere gratitude to my industry guide Mr. Ankur Aggarwal, Territory sales Manager-SCVP, Tata Motors ltd, for his able guidance, continuous support and cooperation throughout my project, without which the present work would not have been possible. I would also like to thank the DSE and DSM of Automobile Sterling, Ashok Ojha , Mr. Harish Sharda, for the constant support and help in the successful completion of my project. Also, I am thankful to my faculty guide Prof./Dr./ Girish Kathuria of my institute, for his continued guidance and invaluable encouragement. Tapan Sharma INDEX |s.no |chapters |page no. | |1 |EXECUTIVE SUMMARY ...
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...SUBMITTED BY: G.SRIVIDYA ROLL NO. 2T4-17 SUPERVISED BY: MRS.V.ANNAPURNA (ASST. PROFESSOR) SIVA SIVANI INSTITUTE OF MANAGEMENT SECUNDERABAD-500100 2014-2016 COLLEGE CERTIFICATE COMPANY CERTIFICATE ACKNOWLEDGEMENT I would take this opportunity to express my sincere gratitude to everyone for their valuable assistance and support during my Industry Internship Program (IIP) at Microsoft Mobiles Kakinada & Rajahmundry. I would like to heartily thank my company guide, Mr. Subair (Regional Sales Manager), at Microsoft Mobiles, Hyderabad for giving me an opportunity to work at Microsoft Mobiles and for his valuable guidance during the course of my internship. His inputs and suggestions have played a very crucial role at every stage in the development of the project and my knowledge as a whole. I would also like to thank corporate guide Mr.Satya Sundhar, (Area sales manager) and for helping me throughout and guiding me and Mr.Kiran, Team leader corporate guide, for teaching me and coaching me with each and every small detail required to successfully complete my project, their guidance at the grass root level and helping me overcome every little problem I faced. I would also like to acknowledge, Mrs.v.Annapurna (Asst. Professor) Siva Sivani Institute of Management, Hyderabad, my faculty guide, for all her suggestions, support and her valuable contributions for helping me deepen my knowledge about the actual work processes involved. Finally, I would...
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...Customer Relationships - Defining a Market-Oriented Mission o Mission Statement (Statement of the organization’s purpose) ▪ Should be market-oriented ▪ Defined in terms of customer needs ▪ Should not be too narrow/broad ▪ Should be realistic ▪ Should be specific ▪ Should fit market environment ▪ Should base on distinctive competencies ▪ Should be motivating - Designing the Business Portfolio ▪ Strength of SBU’s position in that market or industry • Invest more to build share • Invest just enough to hold at current level • Harvest to milk short-term cash flow regardless of long-term effect • Divest by selling or phasing it out o Shape future portfolio ▪ Objective must be “profitable growth”, not growth itself ▪ Market Penetration (Making more sales to current customers without changing products) ▪ Market Development (Identifying and developing new markets for current products) ▪ Product Development (Offering modified or new products to current markets) ▪ Diversification (Starting up or buying businesses outside of current products and markets) • Careful not...
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...Confirming Proofs Chapter 3 Strategic Market Segmentation Segmenting markets is a foundation for superior performance. Understanding how buyers’ needs and wants vary is essential to designing effective marketing strategies. Effective approaches to segmenting markets may be one of the most critical factors in developing and implementing market-driven strategy. The need to improve an organization’s understanding of buyers is escalating because of buyers’ demands for uniqueness and the growing array of technology available to generate products to satisfy these demands. Companies are responding to the opportunities to provide unique customer value with products ranging from customized phone pagers for business users to self-designed, individualized greeting cards for consumers. Indeed, McKinsey research underlines the weakness of thinking about markets only in general terms—talking of market trends, growth markets, mass markets, declining markets, and so on—and collecting information that describes only broad trends, where differences within markets are averaged-out. They point to the identification of opportunities from a deeper understanding of markets at a “granular” level. Market fragmentation and increasing granularity characterize a growing number of markets. The compelling logic of market granularity is that effective strategy can emerge only from a much finer understanding of market segments, their needs, and the capabilities required to serve them.1 Best Buy provides an interesting...
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