D099 - Sales Management Quizzes ...

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D099 Sales Management: module 1-...

60 terms lianna_dixonPreview WGU C 114 term Jess "right" principleGetting the right goods or services to the right people at the right place, time, and price, using the right promotional techniques 360-degree customer viewA process of collecting aggregated data from various customer touchpoints for complete understanding of the customer and to guide interactions with the customer 401(k) plansA 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 ruleSuggests that 20 percent of your activities will account for 80 percent of your results absolute error percentageA 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 costingCompanies treat all manufacturing costs, including both fixed and variable manufacturing costs, as product costs account managementMaintaining 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 accountsCurrent business clients' records of transactions

achievement testA type of test that measures someone's current knowledge Active accountsHave consistent transactions and engagement with the business activity centerAn activity center is a unit of the organization that performs some activity activity goalsA metric that measures how many sales calls of each type a representative has to make in a certain period of time Activity-based costingA costing method that first assigns costs to activities, then assigns costs to products based on their consumption of activities adaptive sellingUsing social styles to customize a sales approach to the specific customer Affective job satisfactionA person's emotional feeling about the job as a whole Affiliative selling relationshipsA situation where the buyer needs extensive expertise from the seller to make a decision algorithmA process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer Alliance agreementsA 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-makingAn approach where a leader or manager only makes important business decisions with solid data or information in hand applicant poolThe total number of people who have applied for an open position approachThe salesperson meets the buyer and introduces the company aptitude testA type of test that measures a person's ability to learn new skills artificial intelligenceAn area of computer science that emphasizes the creation of intelligent machines that work and react like humans assumptionsAnything that is accepted as true or certain to happen, without any proof Asynchronous learningSelf-directed learning with no instructor balance sheetA balance sheet is a statement of assets, liabilities, and capital for an organization at a particular point in time Behavioral dataData based on a customer's action or behavior

big dataLarge, complex data sets that require nontraditional data processing software big data analyticsLarge, 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 BOFUMarketing acronym for the bottom of the sales/buyer journey funnel boundary spannersAn individual who has the role of connecting an organization's internal network with external sources of information brag bookA list of recommendation letters, awards, and achievements that the candidate shares with the interviewer brand trustThe willingness of the average consumer to rely on the ability of the brand to perform its stated function.breakdown modelDetermining the size of a sales force by dividing the sales expected from each representative Brown bag lunch training deliveryA 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 developmentActivities to develop and implement growth opportunities within organizations Business intelligence (BI)The use of data in an enterprise to facilitate decision-making. It encompasses understanding the actual operation of the company, as well as the anticipation of future events, with the aim of providing knowledge to support business decisions business-to-consumer (B2C)Sales made to individual consumers rather than to other businesses Business-to-government (B2G) marketsWhen companies sell to local, state, and federal governments buyer's journeyThe buyer's journey is the process buyers go through to become aware of, consider and evaluate, and decide to purchase a new product or service buying centerAlso called decision-making unit (DMU), brings together all those members of an organization who become involved in the buying process for a particular product or service buying centersA group of people within an organization who make business purchasing decisions

buying powerPurchasing power C-suiteThe executive-level managers within a company capital budgetingThe budgeting process to evaluate potential major projects or investments Central tendency errorThe tendency of managers and interviewers to rate all or most of the employees or interviewees as average CentralizationThe concentration of control of an activity under a single authority clinical selection approachA selection approach where decision makers review the data and, based on what they learn from the candidate and the information available to them, decide who should be hired for a job close rateThe number of deals closed versus the number of opportunities in the pipeline Close Rate = Number of deals closed / Number of opportunities x 100 Closing the saleAgreeing on the terms of the sale and finalizing the transaction Co-marketing agreementsAn agreement where companies share resources to market their products together code of ethicsA document that outlines the mission and values of the business or organization, how professionals are supposed to approach problems, the ethical principles based on the organization's core values, and the standards to which the professional is held cognitive ability testA type of test that measures reasoning skills, math skills, and verbal skills Cognitive job satisfactionHow satisfied employees feel concerning some aspect of their job, such as pay, hours, or benefits cold callingMaking an unsolicited call on (someone), by telephone or in person, in an attempt to sell goods or services cold callsSales calls to a person without any information on that person's interest or interactions with the company or product commissionA form of variable pay that is contingent on discretion, performance, or results achieved company-directThe producer sells a product to a consumer directly compensatory modelA type of statistical approach that permits a high score in an important area to make up for a lower score in another area competitive advantageA condition or circumstance that puts a company in a favorable or superior business position.