REVIEWER IN SALES MANAGEMENT 5.

Fair Competition
MKTG.3 - Ethical sales management involves competing
fairly in the market. Unethical practices such as
SALES MANAGEMENT spreading false information about competitors
- Refers to the process of planning, directing, or engaging in unfair pricing strategies should
and overseeing the activities of a sales team to be avoided.
achieve specific sales goals and objectives and
overseeing the activities. 6. Avoiding Bribery and Corruption
- Sales managers should not engage in bribery,
ETHICS IN SALES MANAGEMENT kickbacks, or any form of corrupt practices to
- Refers to the moral principles and values that win deals or gain an unfair advantage.
guide the behavior and decision-making of sales
managers and their teams. 7. Employee Well-Being
- Focuses on conducting business in - Sales managers should ensure that sales
an honest, transparent, and targets and quotas are achievable and
responsible manner while reasonable, avoiding creating an environment
considering the best interests of where employees feel pressured to
customers, stakeholders, and the compromise ethical standards to meet targets.
broader society.
8. Ethical Leadership
ETHICS IN SALES MANAGEMENT - Sales managers should set a positive example
through their own behavior and decisions. They
1. Honesty and Integrity should provide guidance and support to their
- Sales managers should promote a culture of teams in making ethical choices.
honesty and integrity within the sales team.
This involves being truthful in communications, 9. Handling Customer Complaints
avoiding deceptive tactics, and delivering on - Ethical sales management involves addressing
promises. customer complaints promptly and fairly,
ensuring that customer concerns are taken
2. Customer-Centric Approach seriously and resolved appropriately.
- Ethical sales management places the needs
and interests of customers above all else. Sales 10. Social Responsibility
teams should provide accurate information, - Sales managers should consider the broader
recommend products that truly meet customer impact of their sales activities on society and
needs, and avoid pressuring customers into the environment. Avoiding products or
purchasing products they don't need. practices that harm communities or the
environment is part of ethical sales
3. Transparency management.
- Sales managers should ensure that all terms,
conditions, and pricing are transparent and
easily understood by customers. Hidden fees, SALES CAREERS
undisclosed terms, and misleading information
should be avoided. QUALITIES NEEDED FOR SUCCESSFUL SELLING

4. Respect for Customer Privacy 1. EDUCATION

- Sales managers should respect customer - Sales and marketing majors are appropriate
privacy and adhere to data protection because they are equipped with a basic
regulations. Personal information should be background in the field of selling. Discipline
handled responsibly and not misused. other than business that can provide the
necessary technical background in selling
industrial products is engineering. A biology and someone to watch over their shoulders to tell
chemistry background is good preparation for them what needs to be done and what when to
pharmaceutical selling. do it.
- Some knowledge also of economics, - The basic principles of selling have been
accounting, business law, business psychology, founded. They can be taught; they can be
advertising and the ability to communicate learned; they can be practiced. Properly
effectively will also be useful in this field. educated and trained normal individuals can
learn how to sell and sell well. In fact, it has
2. PERSONAL CHARACTERISTICS been reliably estimated that eight out of ten
- Effective salespeople are good communicators. people have the potential to become good
The salesman who talks sincerely about their salespeople.
companies and products give an aura of
respectability and confidence to the company
and products they sell.
- Enthusiasm is another personal quality. Full
knowledge of the product and learning that the
company is devising some methods for
improvement and expansion makes a salesman
happy and quite cheerful in the course of time.
- Married salespeople tend to perform better
than single ones. Salespersons with children
generally are more effective than those without
children.

3. Personality Factors such as persistence

and the ability to withstand rejection
appear to be positively related to Career in Sales
successful selling
- Effective salespersons are liable to accept Advantages of Sales as a career :
rejection and do not bother them. They simply
try their best to convince and persuade buyers 1. HIGHER INCOME
to buy the products and services that can - as sales person you can earn three times, five
satisfy their needs and wants. If they don’t times or even ten times what most regular
make a sale, they can satisfy their needs and employee get, depending on your skill, initiative
wants. If they don’t make it, they are not easily and perseverance. All you need to do is train
discouraged or disappointed. The capacity to yourself well.
tolerate rejection or objection is essential in
selling for there will always be instances when 2. MORE INCENTIVES AND FASTER CAREER
prospective buyers say “NO” to your offer. ADVANCEMENT
- Your performance could easily be assessed at
4. WORK HABITS AND EXPERIENCE any given time by checking whether you have
- “Experience is the best teacher,” so goes a met your quotas, which are assigned for usual
famous saying. Through as it may seem, periods of time. Thus, you can be accorded due
salesmen should not think that experience is all recognition on an annual, quarterly or even
that matters for a successful career in selling. monthly basis. Top performers are rewarded
Experience is only one of the ingredients not only with honorary trophies, plaques, or
needed for successful selling. medals but with worthy incentives such as cash,
- Obviously, experience in sales is preferred but free trips abroad, or a promotion.
not required. Successful salespeople must
possess initiative. There must not be a need for
3. GREATER FREEDOM OF MOVEMENT meet and new situations to face. You have no
- Unless there are sales meetings or idea what you are going to get yourself into
conferences that require your presence and next. This makes you feel excited, fulfilled, alive.
involvement, as a salesperson you are not
obliged to report at the office. Some companies 7. MORE FUN
even provide their salespeople with laptop - You work at your own pace and in your own
computers so that they can regularly record time, you can do anything you want , you get a
and report their progress wherever they are, car and maybe even a laptop, and your main
and this is often out in the field meeting clients. task is to go out and rendezvous with different
Thus, unlike the office clerk who is virtually tied people every day. Your daily schedule actually
to a desk, as a salesperson you have more includes wining and dining with your customers
freedom and are practically the master of your at five star restaurants, hanging out at bars, and
time. playing tennis and golf.
- Traveling is an integral part of their work,
many salespersons are even provided with The specific job opportunities in sales
service vehicles, which they use to drive or management will vary depending on the
meet their clients. This gives them greater industry, company size, and location.
mobility and freedom, which ultimately leads to
increased productivity. To pursue a career in sales management,
you'll typically need a strong background in
4. GREATER FREEDOM OF MOVEMENT MORE sales, leadership skills, and a track record of
FREEDOM TO DO THINGS YOUR WAY meeting or exceeding sales targets.
- As a salesperson you are free to do whatever
you want to do, as long as you deliver results, 1. SALES MANAGER
that is, you are able to close a deal or make a - Responsible for overseeing a team of sales
sale. Of course there are many techniques you representatives, setting targets, and developing
can learn and apply that will help you get closer strategies to meet sales goals.
to that successful transaction, but basically, you
are free to choose whatever method you prefer. 2. REGIONAL SALES MANAGER
Nobody tells you what to do or how to do your - Manages sales operations in a specific
job. geographic area, often supervising multiple
sales teams.
5. MORE CHANCES TO MEET PEOPLE
- Your job as a salesperson will bring you in 3. SALES DIRECTOR
contact with many people from all walks of life. - Oversees the entire sales department, sets
Like an ambassador of Goodwill, you will have long-term strategies, and reports directly to
to befriend individuals of varying psychological, upper management.
social and economic backgrounds. For many,
this is what makes selling exciting and 4. KEY ACCOUNT MANAGER
interesting. What other job would give you the - Focuses on managing and nurturing
opportunity to meet new people every single relationships with key clients or accounts to
day. As a consequence, you learn to develop maximize revenue.
genuine empathy and concern for others, and
you enhance your ability to form long-lasting, 5. SALES OPERATIONS MANAGER
satisfying business and personal relationships - Manages the administrative and logistical
with everyone you meet. aspects of the sales department, including CRM
systems and sales processes.
6. MORE CHALLENGES
- In selling, every single day offers fresh 6. BUSINESS DEVELOPMENT MANAGER
challenges. There are always new people to - Focuses on identifying and pursuing new
business opportunities and partnerships to ACTIVITIES?
drive growth.
- The mission statement provides direction and
7. INSIDE SALES MANAGER guidance for strategy development and
- Supervises a team of inside sales execution throughout the organization.
representatives who typically engage with
customers via phone or online channels. FOUR TYPES OF GENERIC CORPORATE
STRATEGIES
8. CHANNEL SALES MANAGER  STABILITY STRATEGIES
- Manages sales through distribution channels, - Make no change to the company’s current
partners, or resellers. activities.
 GROWTH STRATEGIES
STRATEGIC ROLES OF SALES MANAGEMENT - Expand the company’s activities.
 RETRENCHMENT STRATEGIES
WHAT IS STRATEGIC ROLE OF SALES - Reduce the company’s level of activities.
MANAGEMENT?  COMBINATION STRATEGIES
- A combination of the above strategies.
Creating a sales management strategy is one of
the easiest ways to increase your revenue and CORPORATE STRATEGY VS BUSINESS
profitability. Sales management is about STRATEGY
leading the people and processes your - Compared to business strategy, corporate
company uses to sell to prospects and convert strategy examines success from a higher level.
them into customers. Responsibilities include:
Tracking revenue against goals. STRATEGIC BUSINESS UNIT (SBU)
- It is a specialized sub-system of the company
SALES MANAGEMENT STRATEGY that serves as an independent entity. A
Responsibilities include: company's business strategy is developed for
 Building the right sales strategy each SBU inside the company defining how they
 Hiring the right team plan to compete effectively within the market.
 Creating the right compensation plans,
territories, and quotas BUSINESS UNIT
 Setting the right projections  They are in the organizational structure
 Motivating your team  They are an organizational unit that does
 Tracking revenue against goals not have a separate legal personality
 Resolving conflicts  They are known to utilize the "product-
 Training and coaching sales reps market" strategy
 Managing processes  Their actions are very crucial and decisive
importance in the company
 Getting the sale!
 They have a divisional structure
determined by the size of production,
CORPORATE STRATEGY AND THE SALES
technology, and research activities,
FUNCTION
marketing activities, and financing and
accounting processes.
CORPORATE STRATEGY
- In the hierarchy of strategy, corporate
strategy is the highest and broadest strategic
plan of the organization.

HOW DOES THE CORPORATE MISSION

STATEMENT AFFECT SALES MANAGEMENT
 BUSINESS STRATEGY AND THE SALES
FUNCTION

WHAT IS BUSINESS STRATEGY?

- is the combination of all the decisions and
actions taken by a company in order to achieve
its objectives and maintain a competitive
market position.

IMPORTANCE OF BUSINESS STRATEGY

- a business goal without a strategy is nothing
more than a silly idea. If you enter a market
without a well-thought-out strategy, you are
taking a risk.
FEATURES OF STRATEGIC OBJECTIVES OF
STRATEGIC BUSINESS UNIT FIVE REASONS WHY A STRATEGY IS
- The strategic objectives of an SBU affect the NECESSARY FOR YOUR BUSINESS
development of the sales organization, the  Planning
activities of the sales manager, and the selling  Strengths and Weaknesses
tasks performed by the people. All these  Efficiency and Effectiveness
objectives are achieved with the help of the  Competitive Advantage
sales organization policies which were designed  Control
for the SBU.
LEVELS OF BUSINESS STRATEGY
HOW DOES DEFINING THE SBU AFFECT SALES
MANAGEMENT?
 The company's salesforce may have to
merge.
 A new salesforce is needed to be
established
 The existing salesforce may have to
reorganize in order to perform new
activities

SALES FUNCTION
- It is a department that is directly responsible BUSINESS STRATEGY EXAMPLES
for the actual interaction with the client, per se.  Creating a new market
it is responsible for making the amazing  Buying the competition
long-term impact to the customer.  Product differentiation
 Cost leadership
HOW IS CORPORATE STRATEGY AND SALES
FUNCTION RELATED? MARKETING STRATEGY AND THE SALES
- Corporate strategy is a big umbrella that FUNCTION
directs the whole company. The teams involved
must create a strategy that can benchmark WHAT IS A MARKETING STRATEGY?
their future plans. These plans are aligned to • A marketing strategy is a long-term planning of
the overall work in the different departments business objectives that the company wants to
under the corporation. achieve.
• Marketing strategies to each market should
reinforce the differentiation competitive
advantage that the strategic business unit (SBU)  Integrated Marketing Communication (IMC)
tries to enforce. is the strategic integration of multiple
marketing communications tools in the most
STRATEGIC BUSINESS UNIT (SBU) effective and efficient manner.
- Can be defined as an independent department
as a sub-unit of a large organization that is fully OBJECTIVE TO USE
functional and focuses on a target market. - most cost-effective tool to achieve the
desired communication objective and to
KEY POINT: MARKETING MIX ensure a consistent message is being
- There are four elements that make up the communicated to the market. A typical
marketing mix in which the 4Ps of marketing are approach is to use some form of advertising
found to shape the crucial strategies to generate to generate company and product awareness and
profits in the company and boost sales: to identify potential.
 Product strategies
 Pricing strategies CONSUMER MARKETS
 Distribution strategies • Television Advertisement.
 Promotion strategies • Literature, Coupon, etc.
• Ad, Direct Mail, Radio Ad, etc.
MARKETING MIX ELEMENTS AND PERSONAL • Catalog and Directory.
SELLING • Public relations, trade shows, and public
 Promotion is one of the market mix elements, exhibitions.
and a term used frequently in marketing. The
specification of five promotional mixes or Two Content Layout with Table
promotional plans. These elements are • First bullet point here
personal selling, advertising, sales promotion, • Second bullet point here
direct marketing, and publicity Selling • Third bullet point here.
through a person to person communication
process.
 One of the difficult challenges facing the
marketing strategist is making sure that
decisions concerning the product,
distribution, price, and marketing
communications areas result in an effective
marketing mix.
 Different ways the mentioned elements can BUSINESS MARKETS
be combined to form a marketing mix so the  Personal Selling, Print Ad, Direct Mail.
development of a unique marketing mix may  Trade Show and Exhibitions, Catalogues
produce competitive advantages in the  Directories,
marketplace.  Literature, Coupons
 Public Relations, Dealer and distributor
INTEGRATED MARKETING COMMUNICATIONS materials
 Integrated marketing communications (IMC):
The science of aligning a variety of touch SALES STRATEGY
points between an organization and its
consumers in terms of unified and clear WHAT IS SALES STRATEGY?
messaging. Marketing has evolved - is a detailed plan for boosting sales revenue.
significantly, particularly in the recent,
technology-driven social media economy. IMPORTANCE OF SALES STRATEGY
 Although marketing communications - it is important to the success of your business,
strategies are typically driven by advertising without a well defined strategy, yours may stall
or personal selling, most firms use a variety or even fail.
of tools in their marketing communication
mix.
MARKETING VS. SALES STRATEGY
- Marketing is important to sales, but your
marketing strategy is not your sales strategy.