Exam (elaborations)
Sales Force Management Exam -2 Questions and Answers 100% Solved
- Course
- Institution
Sales Force Management Exam -2
[Show more]
Content preview
Sales Force Management Exam #2Naive - answer Using the current sales to forecast the sales for next period, assuming
no new trend in sales
Ratio Method - answer Using the trends from the previous two periods to project sales
for the next period , assuming there is a new sales trend
Simple Moving Avarage - answer Average price over a specific period of time
Weighted Moving Avarage - answer Assigning a heavier weight to current data points
since they are more relevant than data points in the distant past
Exponential Smoothing Model - answerUsing this model allows the forecaster to have
sales in certain periods of time influence the forecast more than other periods
Survey Methods of Forecasting - answerRely on the opinions and judgements of
experts, such as sales reps to derive sales forecasts
Executive opinion, Sales Force Composite
Mathematical Methods of Forecasting - answerApply mathematical and statistical
techniques to historical data to forecast sales
Moving Avarage Models, Exponential Smoothing Models, Regression Models
Operational Methods of Forecasting - answerTake information from the marketing
plans, financial requirements, or the company's capacity to derive a sales forecast
Test Markets, Capacity-Based Calculations
What is the difference between regression and other forecasting methods? -
answerRegressive Method is a simple linear model of forecasting that is used to project
sales trends into the future by estimating the relationship among the variables in the
chart
What is better, survey or mathematical methods - answerBoth are good, survey
methods rely on the opinions and judgements of experts who will be making the
purchase decision. This is mostly used when dealing with a new product where
historical data is not available.
Mathematical methods apply mathematical and statistical techniques to historical data
and forecast sales
, What is the point of market tests? What are their limitations? - answerWhen you have a
new innovative product, or no reliable data marketing tests can collect sales data, and
test the marketing plan.
Limitations can be if the product requires extensive investment and fixed assets before
they are introduced to the market, or if it is a product that takes time to gain acceptance.
What is the purpose of a sales budget? - answerThe purpose of sales budget is to be
the basis for all operating activities in the sales department, production department, and
finance areas
Objective/Task Method of Calculating Sales - answerDetermine the objective and the
tasks needed to complete the objective
Ex:
Objective - Samples to be distributed
Task - # of Doctors to be visited
Cost of achiving objective:
$Samples
$ Travel & Time for each sale
======================
Total cost of sampling
Percentage Sales Method of calculating sales - answerCutting a percentage of
employees based on sales
Content Models of Motivation - answerConcentrate on the question of 'what' motivates,
Mazlow's Hierarchy of Needs/Herzberg's Two Factor Theory
Process Models of Motivation - answerAddress more the issues relating to how the
process works and sustains itself over time
Expectancy Theory/Equity Theory
Maslow's Hierarchy of Needs - answerSelf-Actulization Needs
Esteem Needs
Social Needs
Saftey Needs
Psyhiological Needs
Herzberg's Two Factor Theory - answerMotivators (e.g. challenging work, recognition
for one's achievement) that give positive satisfaction from the job itself
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 $13.99. 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