Marketing 230

Essay by MikebadUniversity, Master'sA, October 2014

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Michael Rezk

Professor S.T. Scott

Marketing 1

Assignment 10

Due May 8th, 2013

LO1: Explain the five sequential stages of self-leadership.

Ans: Leadership is composed of five sequential stages. First, goals and objectives must be set that properly reflect what is important and what is to be accomplished. In turn, an analysis of the territory and classification of accounts is conducted to better understand the territory potential and prioritize accounts according to revenue producing possibilities. With goals in place and accounts prioritized, the third step develops corresponding strategic plans designed to achieve sales goals through proper allocation of resources and effort. The next stage maximizes the effectiveness of allocated resource capabilities. Finally, assessment activities are conducted to evaluate performance and goal attainment and to assess possible changes in plans and strategies.

LO2: Identify the four levels of sales goals and explain their interrelationships.

Ans: There are four different levels of goals a salesperson must establish to maximize sales effectiveness:

Personal goals: what wants to accomplish relative to oneself.

Account goals: the objectives relative to each individual accounts.

Territory goals: what is to be accomplished for the overall territory.

Sales call goals: the priorities that are set out to be accomplished during a specific call. Each level requires different types of effort and produces different outcomes, and each of the levels is interrelated and interdependent on the others. Each higher-level goal is dependent on the sales person setting and achieving the specific goals for each lower level.

LO3: Describe two techniques for account classification.

Ans: There are two basic method of classifying accounts. In ascending order of complexity, these methods are single-factor analysis and portfolio analysis.

Single-Factor Analysis: Also referred as ABC analysis, this is the simplest and most often used method for classifying accounts. Accounts are paralyzed...