Exam (elaborations)
Chapter 9. Sales Force Compensation Questions with Correct Answers 2024
- Course
- Institution
Chapter 9. Sales Force Compensation
[Show more]
Content preview
Chapter 9. Sales Force CompensationA good sales compensation plan should.. (company perspective) - answer-Motivate SP
-Correlate efforts and results w rewards
-Control SP activities
-Ensure proper treatment of customers
-Attract and keep competent SP
-Be economical yet competitive
-Be flexible yet stable
-Provide secure and incentive income
-Be simple
-Be fair
-Provide choice
Sales compensation plan (SP perspective) - answer- a secure income and an incentive
income
-simplicity, SP should be able to golfer out what their income will be
-fairness,
-choice, SP want to have choices on how they are compensated
Steps in designing a sales compensation - answer1. Review job descriptions
2. Identify plans objectives
3. Establish level of compensation
4. Develop the method of compensation
5. Divide on indirect monetary compensation
6. Pretest and install plan
Level of Compensation - answerthe average earnings of the salespeople over a given
period.
the level is more important than the method. People usually are more interested in how
much they've earned than in how they earned it
Method of Compensation - answer-relates to how the reps will be paid.
Building blocks for a sales compensation plan - answerSecurity - Salary
Incentives - Commission, bonus, profit sharing
Benefits - paid vacation, insurance, moving expenses, pension, profit sharing, others
Expenses - travel, lodging, company car, entertainment, others
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67163 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now