Unit 39 Sales Management

Introduction

This unit introduces students to the discipline of sales management for the 21st century. Changing dynamics between buyers and sellers, driven by the fast-paced evolution of e-commerce and globalisation, has led organisations to review and adapt their sales management approach in response to a customer driven culture.This unit gives a comprehensive overview of sales management and equips students with the tools and knowledge they need to succeed in today’s increasingly complex and fast-paced sales environment.

Learning outcomes

LO1 Demonstrate an understanding of the principles of sales management

Introduction and scope of sales management:

• Definition of sales management and the key aspects of sales management, including planning, selling and reporting.
• Strategies for measuring and monitoring, including the sales funnel and hit rate metric.
• Different modes of selling (B2B and B2C) and their impact upon buyer and seller roles and dynamics.
• Consumer buying behaviour process.
• Business buying behaviour process.
• Sales promotions and incentives.

The impact of new technology on the sales management environment:

• the use of Skype, video conferencing on tablet devices for improved communication; online events and sales training to improve sales skills and productivity and cloud computing to improve information access.

LO2 Evaluate the relative merits of how sales structures are organised, and recognise the importance of ’selling through others’

Sales leadership and the sales executive:

• Ethics of behaviour, law and sales leadership.

Designing and organising the sales force and choosing the right structure:

• geography, product and customer-based design.
• Appropriate recruitment and training to develop an efficient sales force.
• Supervising, managing and leading the sales force.
• Goal setting, managing performance and reward of the sales force
• ‘Selling through others’ − the advantages of using different sales channels.

LO3 Analyse and apply principles of successful selling

Turning customer information into knowledge:

Classification of sales leads: hot, warm and cold.

• The cold vs warm approach.
• Successful pitching and positioning.

Negotiation techniques and tactics:

• closing sale, handling objections, when to say ‘no’, ethics of behaviour and overpromising.
• Building and managing relationships.
• Exit and terminating relationships.

LO4 Demonstrate an understanding of the finance of selling

Portfolio management:

• Calculating margins.
• Payment mechanisms and terms.
• The sales cycle.
• Industry specific sales cycle management.
• Overall, performance management.

Resources

• HAIR, J., ANDERSON, R., MEHTA, R. and BABIN, B. (2008) Sales Management: Building Customer Relationships and Partnerships. 1st Ed. Cengage Learning.
• WEINBERG, M. (2015) Sales Management. Simplified: The Straight Truth About Getting Exceptional Results from Your Sales. New York: Amacom.