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Professional Selling Final Exam
Information for Final Exam for Christine's MKT 4400 Class
35
Marketing
Undergraduate 3
11/08/2010

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Cards

Term
Direct Compensation
Definition
Salary, Commission, Bonus, Expense Reimbursement or Allowances
Term
Commission
Definition
Specific amount the salesperson makes for sale
Term
Indirect Compensation
Definition
Benefits- Medical, dental, holidays, sick days, vacation, training/education, 401k..
Term
Platinum Rule
Definition
Treat People the way they want to be treated
Term
Amiable Behavioral Style
Definition
Knowledgeable, Future oriented. Innovator who likes abstract principles from large amount of info. Active in Community affairs by assisting in policy making, program development, etc. Future Time orientation.
Term
Analytical Behavioral Style
Definition
Direect, detail-oriented. Deal in sequence on time. Very precise, fact-oriented. Past, present and future time orientation.
Term
Expressive Behavioral Style
Definition
People-oriented, past time orientation. Very sensitive to needs of others. Enjoys contact w/ people, reads others well
Term
Driver Behavioral Style
Definition
Action-Oriented. Present time orientation. Deal with the world through senses. Very decisive and high energy level.
Term
Commission
Definition
Now based on Percent of Gross Margin or Profit
Term
Bonus
Definition
Amount you get for achieving a predetermined goal
Term
Quota
Definition
Sales Goal/Expectation. Normally annual
Term
Expense Reimbursement
Definition
Reimbursed for travel, food, etc. Potential to be taxable.
Term
Analytical Environment
Definition
Desk/Room is neat. Files and reports handy
Term
Amiable Environment
Definition
Desk / Room contains reference books, theory, books, abstract art, bookcases, trend charts, etc.
Term
Expressive Environment
Definition
Desk/Room has plaques and mementos, warmly decor w/ family pictures, antiques
Term
Driver Environment
Definition
Messy room, piles, action pictures, success demonstrated
Term
Analytical Strengths
Definition
Effective communicator, deliberative, prudent, weighs alternatives, stabilizing, objective, rational, analytical, asks questions for more facts.
Term
Amiable Strenghts
Definition
Original, creative, imaginative, broad-gauged, charismatic, idealist, intellectual, tenacious, ideological, conceptual, involved
Term
Expense Reimbursement for Car Options
Definition
Company Car, Car Allowance, Mileage
Term
Expressive Strengths
Definition
Spontaneuous, persuasive, emphatic, traditional values, probing, introspective, draws out feelings, loyal,
Term
Driver
Definition
Pragmatic, assertive, directional results-oriented, technically skillful, objective, perfectionist, decisive, direct and down to earth, action oriented
Term
Drawbacks of Analytical
Definition
Verbose, Indecisive, overcautious, overanalyzes, unemotional, nondynamic, controlled and controlling, overserious, rigid, nit-picking
Term
Drawbacks of Amiable
Definition
Unrealistic, far-out, fantastical, scattered, devious, out of touch, dogmatic, impractical, poor listener
Term
Drawbacks of Expressive
Definition
Impulsive, manipulative, overpersonalizes, sentimental, postponing, guilt-ridden, stirs up conflict, subject
Term
Drawbacks of Driver
Definition
Impatient, not long range, status-seeker, self-involved, acts first then thinks, lacks trust in others, nit-picking, impulsive, does not delegate
Term
Modifying Style: Increase Openess/Responsiveness
Definition
Share feelings, respond to others feelings, pay personal compliments, develop relationship, friendly language, communicate more, willing to digress from agenda
Term
Modifying Style to Decrease Responsiveness
Definition
Right to Task, Logical, keep to agenda, leave when work is done, downplay enthusiasm, use businesslike language
Term
Modifying Style: Increase Directness/Assertiveness
Definition
Speake and move at a faster pace, initiate conversation, initiate decisions, give recommendations, use direct statements, communicate w/ strong, confident vocal qualities, challenge and tactfully disagree when appropriate, increase eye contact
Term
Modify Style: Decrease Directness
Definition
Do things slower, ask and acknowledge other opinions, share decision-making tasks with others, show less energy-mellow, do not interrupt, refrain from criticism, Don't be pushy, use less eye contact
Term
Break-Even Analysis
Definition
Exactly how much to sell to start becoming an asset to the organization. Calculate Salesperson's annual fixed (direct costs, not including commision/bonus)

Calculate organization's gross profit margin on items being sold (Sales-COGS=gross profit) gross profit/sales=profit margin

Use Salesperson annual B-E $ amount=salesperson's direct $ costs/gross profit %
Term
Return on Time Invested (ROTI)
Definition
1. Estimate Potential Sales 2. Calculate worth of time 3.Determine how profitable your accounts 4. Classify your accounts
Term
Quota Analysis
Definition
Kill Ratio. Calculate number of days/yr available to sell. (Subtract out vacation and weekends) Break down into sales per day or sales per hour needed to meet quota
Term
Conversion Analysis
Definition
Term
Routing
Definition
Reduce wait time, group clients
Term
Territory
Definition
Accounts assigned based on 1) Geographical 2) Customer Types 3) Product Type --To measure sales force and minimize travel expenses
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