About This Chapter
Sales Force Management - Chapter Summary
This mobile-friendly sales chapter breaks down the foundations of sales force management. Using a simplified and engaging teaching style, our instructors examine basic concepts related to sales management, sales operations planning, compensation systems, sales commissions, personal selling and more. The chapter comes with plenty of quizzes to help you make sure you fully understand these sales force management topics. The chapter can be accessed on any Internet-connected device, and its 24/7 availability helps you study sales whenever you have free time in your schedule. By the end of the chapter, you should be equipped to:
- Explain the function of sales management
- Describe sales management's role in personal selling
- Outline the process of sales and operations planning
- Recognize metrics in strategic human resources
- Compare several types of common compensation systems
- Calculate commissions for sales
- Discuss the Medtronic Corporation's sales training methods
- Analyze a variety of legal and ethical issues pertaining to personal selling
- Discuss the ways in which technologies, regulations and ethical issues affect sales
1. Sales Management: Definition & Function
A thriving business needs competent sales management to meet revenue and sales goals. Also, sales managers must ensure that the sales team is appropriately supported. Use the four keys in this lesson to improve your sales management skills.
2. The Role of Sales Management in Personal Selling
When it comes to personal selling, the sales team of any company needs the support of the company's sales management. Learn the important role sales management plays in this video lesson.
3. The Sales & Operations Planning Process
How can companies plan for variations in the demand for their products? In this lesson, we'll examine the sales and operations planning process, focusing on the five major steps that most companies follow.
4. Strategic Human Resource Metrics: Production & Sales
This lesson includes the definition and specific examples of HR metrics, the formula used to calculate each metric and an assessment of why the metric is useful to production and sales.
5. Common Compensation Systems: Salary, Hourly, Contractor, Pay-For-Performance
One of the core functions of human resource management is the development of a compensation system. In this lesson, you'll learn about the different methods organizations use to compensate their employees. A short quiz follows.
6. How to Calculate Sales Commissions
In this lesson, we'll define sales commission. We'll also discuss three types of sales commission: percent of sales, stair step and fixed amount. You'll also learn when to utilize each type.
7. HRM Case Study: Medtronic & Sales Training
This lesson will provide history, background, and context on the Medtronic Corporation, manufacturers of pacemakers. Learn how this company improved sales through training and development.
8. Personal Selling: Legal & Ethical Issues
Companies have turned to personal selling to help sell their products and services. We will take a look at the definition of personal selling and the legal and ethical issues that can arise.
9. Ethical Issues That Impact the Personal Selling Process
Many people enjoy working in sales because of the autonomy to make decisions, leverage deals, and satisfy customers. However, with freedom comes the responsibility to act in ethical ways.
10. How Technology & Regulations Affect the Sales Process
Rapid changes in technology can help salespersons streamline their jobs and automate routine functions. Social media, mobile devices, new applications, and effectively using ''Big Data'' can increase sales. Regulations for small businesses that increase employer costs may add pressure to the sales force to bring in more revenue.
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