Term
| Solutions for needs in the market are… |
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Definition
| 1) offerings that are reasonable alternatives to competitive options & 2) Offerings that have definable differentiation from competition |
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Term
| Skills to motivate investment can be stated as the ablity to: |
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Definition
| (1) activate the needs of the customer (2) Influence the buying criteria of the customer (3) Sell Value |
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Term
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Definition
| 1) Company Objectives 2) Markets 3) Products 4) Account Geographies 5) Sales Processes 5) Resources Type-Mix-Qty 6) Organization Specialization |
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Term
| The primarily objective of resource planning is to… |
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Definition
| Deliever necessary skills at lowest cost to desired opportunties for miximum "ROI" per unit of resource deployed |
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Term
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Definition
| Skill Requirements --> Attract & Retain Key Skills --> Capacity Planning --> Deployment & Coverage --> Performance Measurements --> Sales Responsibilities |
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Term
| Resource optimization is comprised of… |
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Definition
| Deployment & Coverage --> Performance Measurements --> Sales Responsibilities |
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Term
| Sales and Business Professionals responsiblities include: |
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Definition
| Brand Mangement, CRM, Strategy Development and Implementation, CIR and Market Forecasting , Decision Empowerment and Accountablity (generally towards long-term benefits) |
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Term
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Definition
| 1) Generate Profitable revenue 2) Achieve Minium Business Volumes 3) Basic Business Function Performance (Short-Term Emplhasis) |
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Term
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Definition
| 1) Knowledge 2) Skills & Experience 3) Levels of Expertise 4) Sources of Skills |
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Term
| Attract & Retain Key Skills |
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Definition
| 1) Progressive Compensation Plans 2) Incremental Earning Opportunity 3) PPCAD 4) Career Paths & Promotions 5) Personal Aid & Wellness |
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Term
| An example of Incremental Earning Opportunity might be… |
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Definition
| 1) Bonuses, Accelrators, Contests 2) Customer Satisfaction Performance 3) Marketing Activity Compensation |
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Term
| Resource Planning based on: Units of Sales Resources Required |
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Definition
| Number of sales people to provide the desired amount of selling to defined accounts and market segments |
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Term
| Resource Planning based on: Territory Designs and Confiurations to: |
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Definition
| 1) Ensure effective coverage of designated accounts and markets |
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Term
| Resource Planning based on: Channel Options: |
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Definition
| (Internal/External) - Best channel(s) to achieve Enterprise moarket objectives |
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Term
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Definition
| Performance Planning --> Counseling Appraising Development --> Territory Account Plans --> Territory Account Reviews --> Activity / Info Time Management --> Customer Feedback |
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Term
| 3 basic buying situations: |
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Definition
| 1) New Task 2) Modified Rebuy 3) Straight Rebuy |
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Term
| Buying Situations Dictates… |
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Definition
| 1) Sales Strategies 2) Sales Processes 3) resources Required |
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Term
| What is the Buying Center |
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Definition
| Set of Definable Roles and Responsiblities necessary to manage the Investment Process |
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Term
| Functions of the Buying Center |
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Definition
| 1) User (i.e., application performance responsibility) 2) Initiators (ie., objective attainment responsibility) 3) Decider (i.e., department heads, C-level) 4) Gate Keeper (i.e., finance, controller) 5) Influencers (i.e., IT and Engineering, experts/specialist in that category) 6) Buyers (i.e., Procurement) |
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Term
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Definition
| 1) Selection, Priority Emphasis and Objectives by Role |
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Term
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Definition
| 1) Sales Process Components by Role |
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Term
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Definition
| 80% of our business comes from 20% of our customers |
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Term
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Definition
| any past, current, or future potential solution to an application need |
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Term
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Definition
| confined to external enterprise direct solution providers |
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Term
| Customer Investment Criteria are.. |
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Definition
| easier to establish than to change |
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Term
| A single strategic focus is… |
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Definition
| 1) Develop customer needs to our differentiated value add --Value Proposition 2) Set Customer Investment Criteria to the Strengths of our offering 3) Emphasize the impact of exclusivity versus competition in Demonstrations and Proposals |
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Term
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Definition
| 1) Corporate Objectives --> Target Markets--> Geographies Accounts--> Sales Processes Skills |
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Term
| Geographies Accounts & Sales Processes Skills |
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Definition
| Classify Accounts --> Key Accounts --> General Territory & Industry Accounts --> New Prospect Accounts --> Assign Resources --> Territory & Key Account Planning |
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Term
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Definition
| 1) Existing largest, high-leverage accounts 80/20 rule 2) Define volume and strategic significance criteria 3) Top Priority 4) Focus |
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Term
| Territory & Key Account Planning needs to be… |
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Definition
| precisely structured and standardized |
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Term
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Definition
| Support Functions Integrated into or Separated from Primary Functional responsibility |
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Term
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Definition
| 1) Decision Making Ownership 2) Consistency vs Flexibility for Variable Needs |
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Term
| Span of Control vs Management Levels |
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Definition
| 1) Flat vs. Vertical Organization 2) Vertical = Multiple layers of Management w/few reports 3) Flat = Few layers of Management with many report 4)Communication and Control Efficiencies |
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Term
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Definition
| 1) Unique/Limited Expertise Applied to Entire Organization 2) Functional Dedication 3) Could be Strategic Business Units |
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Term
| Sales Organization Objective |
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Definition
| Maximize ROI Leverage for each unit of sales organization resource --> Validate Effectiveness from average amount of revenue and profitability per unit of sales organization resource |
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Term
| Territory Sales Rep (SBU Owner) |
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Definition
| 1) Geographic Account Ownership 2) Self Sufficient Sales Skills 3) Geographic Business Objective (quotas) 4) All products and Services |
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Term
| New Business Specialist (SBU Owner) |
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Definition
| 1) Advanced Sales Skills 2) Broad Business Concepts & Extensive Account Experience 3) Advanced / Competitive Sales Skills 4) Acount Win Objectives (quota) |
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Term
| Industry Specialist (SBU Owner) |
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Definition
| 1) Industry / Market Expertise 2) Advanced Sales Skills 3) Industry Business Objectives (quota) 4) Overlay or Account Ownership 5) All Products and Services |
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Term
| Key Account Specialist (SBU Owner) |
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Definition
| 1) Large Account Sales Expertise 2) Advanced Sales Skills 3) Key Account Ownership 4) Account Business Objectives (quota) 5) All Products and Services 6) Often Executive Postion with a Team |
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Term
| The 5 Major Employee Needs |
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Definition
| 1) Pay 2) Promotion 3) Accomplishment 4) Acknowledgment 5) Security |
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Term
| Advantage of Salary Type Plans |
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Definition
| 1) Simple, Planned earnings facilitates budgeting & Recruiting. 2) Customer Loyalty is enhanced. 3) More control of non selling activities |
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Term
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Definition
| an advance on future anticipated sales |
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Term
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Definition
| to compensate sales people for commission they would have earned |
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Term
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Definition
| Market Value Compensation Paid to Satisfy a Specific Business Need |
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Term
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Definition
| Fixed Payment. Regardless of Quota Objective Attainment. Guarantee to assure stability in the sales force and control value add non-quota attainment activates. |
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Term
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Definition
| Commission Payment Made Relative to percentage attainment of quota. Payment amount varies on sales results. Specified % of salary equivalent. |
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Term
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Definition
| A form of incremental commission incentive to motivate continuous exceeds performance |
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Term
| Marketing Activity Compensation |
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Definition
| 1) Fixzed payment by rep for value add activites versus Quota Attainment. 2) Assures attention to quality initiatives with long term benefit |
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Term
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Definition
| 1) competition among individuals & groups for a fixed value reward 2) Motivates temporary emphasis with low cost, high leverage results 3) Success depends on equity and Reasonable probablity of winning |
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Term
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Definition
| 1) Incremental compensation for INDIVIDUAL performance against individual objectives 2) Provides FOCUS on Critical TEMPORARY Needs through Maximum Individual Incentive |
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Term
| Degree of Commission Leverage depends on... |
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Definition
| 1) Significance of Influence on the prospects of winning 2) Sell Cycle & Transaction Frequency 3) Sales Force Stablity 4) Cost |
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Term
| Quota Planning Considerations |
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Definition
| 1) Measurable Markets of Opportunity 2) Enerprise Reven & Profitablity Objectives 3) Reasonable & Equitably Attainable 4) Degree of commission leverage 5) Multiple Plan Types of Varying Activities 6) Market Dynamics: Change in Quotas or Commission Factors 7) Seasonality and Sales Plan Components 8) Sales Plus othe business needs 9) Major, prolonged changes in Market Environment 10) Employee Development, Career and Compensation Planning |
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Term
| The only reason to change a rep's Quota |
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Definition
| Inappreriate calculation or unforeseeable market conditions |
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Term
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Definition
| 1) Equitable Earnings Opportunities across Inequitable Territories 2) No Negative Impact on Earning from Territory Changes 3) Consistency, Equity and Simplicity among Various Plan Types 4) Multiple Options for Marketing Emphasis Compensation 5) Quotas are based on Opportunity and company objectives 6) Compensation is a function of quota attainment 7) Quotas Facilitate Corporate Expense-toRevenue Managmeent |
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