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Assume you are a sales manager. You see a need to improve some of the competencies in your salespeople. Specifically, you see one of your salespeople with the most potential who has a problem with self-management. Before you can advise this salesperson on improving self-management, take some time to analyze your own self-management.

Review the section of this chapter titled "Time Management" on pages 102-104. Pay special attention to Stephen Covey's time management advice as described by the time management matrix. Your journal assignment is to answer Question #1 Self-Management under Developing Your Competencies on page 105-106. Be sure to include your time management matrix similar to Figure 3-5.

Now that you have stepped through the process on yourself, what steps would you take to help your salesperson?

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103 MALEMENT Service calls Administrative tasks 55 Prospecting 145 153 323 With customers Waitinraveling FIGURE 3-4 How Salespeople Spend Their Time into the company's internal Web site, click on a button that says "shipment information." and in just a few minutes they are able to tell the purchasing agent that the tank car is in Houston, 20 miles away. The importance of this technology is indicated in Figure 3-4, which shows that salespeople spend 15 percent of their time on service calls. Overall Time Management Despite all the emphasis companies are putting on increasing selling time. 34 percent of a salesperson's time is spent on administrative tasks. This figure has not changed much during the past two decades. Although it is important for salespeople to provide customer and competitor information to their company, a key aspect of managing time effectively is to recognize and control things that tend to waste time. Following is a list of what many salespeople consider some of the most common time wasters: 1. Telephone interruptions 6. Lack of objectives. priorities, and deadlines 2. Drop-in visitors 7. Indecision and procrastination Lack of self-discipline 8. Attempting too much at once 4. Crises 9. Leaving tasks unfinished 5. Meetings 10. Unclear communication Note that the top two time wasters are telephone interruptions and drop-in visitors. The rest of the time wasters, such as lack of discipline, lack of objectives, and procrastination. indicate poor self-management by the salesperson. How different is this list from the one you would make for yourself? One aspect of time management that is particularly important in sales is to know when the customer is available. This is the key selling time during the day, and salespeople should strictly adhere to customer contacts during these times. This time must be protected, while other duties and issues are handled at other times of the day. key step frequently recommended for improved time management is preparing a list of personal and professional goals and then pursuing them one step at a time. Planning does not have to be elaborate to be useful. Simply writing down a list of things you want to do tomorrow is a good place to start. The next step is to rank the tasks on the basis of their importance. Then when you start the day, begin task 1 and stay with it until it is completed Recheck your priorities and begin task 2. Continue with tasks as long as they remain most important Once people get into the habit of daily planning, the next step is to plan a week or more ahead. Many salespeople, for example, are required to prepare weekly call plans. The idea is to encourage salespeople to plan a series of calls for cach day, to call ahead for appointments, CHAPTER USALES OPPORTUNITY MAN DEVELOPING YOU 104 Importance LO Hot HA Eeroes Recreation Personal FIGURE 3-5 Time Management and to nuke better use of their time. Today technology such as Blackberries and smartphom help time management for busy salespeople because of their size, portability, and ability syne with multiple personal computers. Stephen Covey, a well-known consultant in personal and professional developer advises people to analyze their time management using a framework like the one show Figure 33mportance” refers to activities that are of importance to you in meeting you objectives. "Urgency." on the other hand, is the time pressure we feel to perform certas activities Notice that we may feel this pressure for both important and relatively unimpa will generally take care of themselves. People can gain control over their lives COM less time on Time Wasters and more on Personal Growth urgency but low importance) include phone calls, some rowth activities. Time Wasters trative work-in other words, things that demandings, and unnecessary admin activities low urgency but high importance) are causily put off but are very important to our immediate attention. Personal Growt future prowth and development Activities in this category may include reading professional other functional areas operate, or prospecting for new customers. Notice that many peop provide us with a useful penpective on how we can spend our time more productively by | (hà SUMMARY KEY TEF Account og Acquisition Best few os Brekvens Cold canva Competitie Couperca Decision Duea mai Over the past decade, les force productivity las lagged behind the double-digit increase in selling costs. As a result, top executives are giving added emphasis to improving les force productivity by increasing the amount of time salespeople spend face-to-face with customers. Salespeople are being armed with laptop computers, cellular phones and the 1. Describe effective steps for generating new accounts. First, a prospect profile should may be based on sophisticated database analysis of the purchasing patterns and profitabil be constructed the describes the best prospects for your company's offerings. The profile ity of your current customers. With an cal prospect profile clearly in mind, a list of prospects should be developed wing a variety of methods, including direct mail, trade shows, directories, Telemals, and cold canvassing. Finally, prospects need to be qualified besed on their need for the seller's offerings and intention to buy in the near future, their Internet to fight this battle DEVEL uhority to buy, and their ability to pay for the offering 105 YOU COMPETENCIES sales response 2. Explain how to determine the minimum account opportunity a salesperson should pursue. Two techniques for making this determination should be used. First, the cost per sales call should be identified. This is calculated by identifying all direct selling costs for the period of time being evaluated and dividing this sum by the number of sales calls that are expected for the time period. The cout per call figure is then included in a breakeven sales volume analysis, which consists of multiplying cost per call times the number of calls necessary to close the sale and dividing this product by the company's sales costs is a percent of sales target. This provides a base figure from which to determine whether a sales opportunity is of sufficient magnitude to warrant a face-to-face selling effort 3. Describe four methods for setting opportunity priorities. The single factor model focuses on sales volume to classify account opportunities and allocate salespeople's time. Portfolio models expand the criteria for classifying account opportunities by considering both competitive position and account opportunity factors. Decision models allocate effort according to a function, which is based on the sales response to different numbers of sales calls during a period of time. The sales process model allocates time to sales opportunities based on will depend on market demand, the competitive, and selling situation of the company The appropriate model 4. Explain why emphasis is shifting from sales volume to profit flow. The main reason for shifting from sales volunie to protits as a as a performance and resource allocation metric is because protits may be quite different for customers purchasing the same total volume of products and services. This is caused by the price concessions some customers obtain. the mix of product they purchase, the services they require, as well as their future profit growth potential. A corresponding shift is taking place from emphasizing pust sales and profits to valuing customers based on their future stream of protits. Customer Lifetime Value (CV) is one method for calculating the discounted flow of future profit contributions, 5. Tell bow salespeople can manage their time more efficiently. A recent survey indicates that salespeople spend about 54 percent of their time selling either face to face or over the phone. Three avenues for increasing this percentage are incorporating technology into the selling and planning process, more efficient routing of sales calls within a territory, and reducing time wasters through personal time management techniques, stage in the is KEY TERMS este portate les Directories Direct selling expenses Minimum account Portfolio medel Prospecting Prospect profile Qualified opportunities Quality a prospect Relers Sales fund Sales process model Sales response function Single-factor model Time management Tradeshows Unqualified opportunities was DEVELOPING YOUR COMPETENCIES th 1. Self-Management. One of the most important aspects of self-management is to develop a clear understanding of your personal and career goals. One highly successful method of arriving at a better understanding of your goals and of the steps that should be taken to achieve those goal is the time management analysis developed by Stephen Covey DEVELOPE 106 high CHAPTER SALES OPPORTUNITY MANAGE First, list your personal and professional goals in any order. Next, list the actions you will need to take to get yourself in position to achieve these goals. Third, to the Time Management Matrix presented Figure 3-5, labeling the axes as how importance and high versus low urgency. List the activities on which you developed for achieving your personal and professional goals. In which quadrant was these poal-directed activities fall? How could you adjust your time to put yourself pood position to achieve your goals? 2. Coaching are spending the day with a new salesperson in your district has been with your company, Consumer Research International (CRI), for less te 3 month. CRI is a marketing research company that competes with the likes MAR/C Group. Market Facts, and Burke Marketing Research. Although CRI number of accounts with which it has worked for a number of years, each me between 20 and 30 callers will contact your company to investigate engaging is a marketing research project; however, only about two or three of the calls warta further attention. A new salesperson is having a problem determining in a reasonable amount of time, which of these callers is a real prospect and which is a waste time. Time is precious, however, but you do not want your salespeople walking wway from important growth opportunities . Because the salesperson is new on the job, you would like to give him a set of questions that he could ask to determine whether this is a "hot" prospect of one that is just looking. What would be you advice? Global Perspective. Dendrite International is one of the world's leading suppliers sales force automation software in the pharmaceutical industry. Pharmaceutical firm worldwide are arming their salespeople with laptop computers and looking for software to design call plans and collect call reports to increase sales force efficiency and effe tiveness. More than 15,000 salespeople in 40 companies in Il countries use Dendrix systems. One of the issues Dendrite faces is that software demands differ greatly from country to country. How would software requirements differ in each of the following countries? For more information on Dendrite, see www dirte.com US pharmaceutical sales forces are among the largest in the world, ranging from 5000 more than 3,000 reps per fim, Sales reps call on medical personnel every 4 to 6 weeks to leave product samples and literature, perform service tasks, and build relationships with prescribing physicians in funding of health care and large managed-care organizations are common. In England • In Japan, sales forces are like those in the United States, and, with fewer doctor a rep sees a doctor once a year, always by appointment, and can only leave one sample there is one pharmaceutical salesperson for every six physicians, Unlike States, where physicians cannot sell drugs, Japanese physicians combine prescribing and dispensing of drugs. Sales reps negotiate prices with individual physicians, who e derive income from selling free drug samples to their patients. Most Japanese doctor. As a result, social selling is very important in Japan Keps develop face doctors work in clinics or hospitals that require sales reps to wait outside to see the time with doctors by washing their cars, entertaining them, and running all sorts of errand 4. Technology. Wisdom Ware Inc. a small software firm, has developed a stick tool that helps salespeople to be better informed and more efficient. It requires salespeople and the United their bones to do things just a linde differently. The issue Wisdom attempts
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Running head: TIME MANAGEMENT

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Time Management Matrix
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TIME MANAGEMENT

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The self-management is the capacity to comprehend and direct your own feelings and
custom them to control your conduct towards achieving a positive results. Self-management
fills in as a fundamental the managerial competency and involves assuming liability for one's
very own activities and conduct. In a period where missing due dates isn't a choice, a Covey
time management matrix can assist me in managing my accessible time all the more
productively. The Covey’s matrix enables me to sort out my needs much better than anyone
might have expected. The Covey�...


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Very useful material for studying!

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