Editing User:Jukeboksi/BBA studies/Sales and selling

* A '''[[w:sale|sale]]''' is the [[w:trade|exchange]] of a [[w:commodity|commodity]] for money or service in return for [[w:money|money]] or the action of [[w:selling|selling]] something. ( Wikipedia )

* '''[[w:Selling|Selling]]''' is offering to [[w:Trade|exchange]] an item of [[w:Value (economics)|value]] for a different item. ( Wikipedia )

* '''[[w:Purchasing|Purchasing]]''' refers to a [[w:business|business]] or [[w:organization|organization]] attempting to acquiring [[w:Good (economics)|goods]] or [[w:Service (economics)|services]] to accomplish the goals of its enterprise. ( Wikipedia )

== Strategic Business-to-Business Relationship Management ==
=== Strategic Business-to-Business Relationship Management - Session 1 ===

* '''[[w:Strategic management|Strategic management]]''' involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of [[w:Factors of production|resources]] and an assessment of the internal and external environments in which the organization competes.

* '''[[w:Marketing strategy|Marketing strategy]]''' is the goal of increasing sales and achieving a sustainable [[w:competitive advantage|competitive advantage]]. ( Wikipedia )

* '''[[w:Business-to-business|Business-to-business]]''' ('''B2B''') describes commerce transactions between businesses, such as between a [[w:manufacturer|manufacturer]] and a [[w:wholesaler|wholesaler]], or between a wholesaler and a retailer. ( Wikipedia )

* '''[[w:Customer relationship management|Customer relationship management]]''' ('''CRM''') is a system for managing a company’s interactions with current and future [[w:customers|customers]]. It often involves using technology to organize, automate and synchronize [[w:sales|sales]], [[w:marketing|marketing]], [[w:customer service|customer service]], and [[w:technical support|technical support]]. ( Wikipedia )

* '''[[w:Solution selling|Solution selling]]''' is a [[w:sales|sales]] methodology. Rather than just promoting an existing product, the salesperson focuses on the customer's pain(s) and addresses the issue with his or her offerings (product and services). The resolution of the pain is what constitutes a "solution". ( Wikipedia )

* '''[[w:Relationship marketing|Relationship marketing]]''' was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes [[w:customer retention|customer retention]] and satisfaction, rather than a dominant focus on sales transactions. ( Wikipedia )

* The '''[[w:Business Model Canvas|Business Model Canvas]]''' is a [[w:strategic management|strategic management]] and [[w:lean startup|lean startup]] template for developing new or documenting existing [[w:business models|business models]]. It is a visual chart with elements describing a firm's [[w:value proposition|value proposition]], infrastructure, customers, and finances. ( Wikipedia )
** [https://www.youtube.com/watch?v=QoAOzMTLP5s Youtube: Business Model Canvas Explained]

=== Strategic Business-to-Business Relationship Management - Session 2 ===

'''Some titles in sales:'''
* '''[[w:Account Manager|Account Manager]]''' is a person who works for a company and is responsible for the management of [[w:sales|sales]], and relationships with particular [[w:customer|customer]]s.  The account manager does not manage the daily running of the account itself. They manage the relationship with the [[w:Customer|client]] of the account(s) they are assigned to. ( Wikipedia )
* '''[[w:Account_manager#Key_account_manager|Key account manageer]]''' is assigned to a company headquarters to oversee the account team assigned to a particular account. Key account management includes sales but also includes planning and managing the full relationship between a business and its most important customers. An account manager who works in this role will engage in a variety of tasks including [[w:project management|project management]], coordination, [[w:strategic planning|strategic planning]], [[w:relationship management|relationship management]], negotiation, leadership and innovative development of opportunities, and keeping record of transaction of sale and purchase goods. The tasks may include working with product design and application, logistics, sales support, and marketing. ( Wikipedia on key account manager )
* '''[[w:Export|Export]] managers'''  serve as intermediaries between foreign buyers and domestic sellers. Unlike export traders, who buy the products before selling directly to foreign buyers, export managers find buyers internationally for domestic product manufacturers. ( [http://education-portal.com/articles/Export_Manager_Job_Description_Duties_and_Requirements.html Education portal] )
* '''Sales manager''' is the typical title of someone whose role is sales management.  The role typically involves [[w:talent development|talent development]] and  [[w:leadership|leadership]]. ( Wikipedia on [[w:Sales management|Sales management]] )
::: '''Sales management''' is a [[w:business|business]] discipline which is focused on the practical application of [[w:sales|sales]] techniques and the management of a firm's [[w:sales operations|sales operations]]. ( Wikipedia )

'''Key qualities for working in sales:'''
# [[w:Empathy|Empathy]] and interest in people
# Ability to [[w:Communication|communicate]] (listening)
# [[w:Determination|Determination]] (closing a sale)
# [[w:Self-discipline|Self-discipline]] and [[w:Psychological resilience|resilience]]

* A '''[[w:value proposition|value proposition]]''' is a [[w:promise|promise]] of [[w:value (economics)|value]] to be delivered and acknowledged and a belief from the [[w:customer|customer]] that value will be appealed and experienced. ( Wikipedia )

=== Strategic Business-to-Business Relationship Management - Session 3 ===

* '''[[w:Sales force management system|Sales force management system]]s''' are [[w:information systems|information systems]] used in CRM [[w:marketing|marketing]] and [[w:management|management]] that help automate some [[w:sales|sales]] and [[w:sales force management|sales force management]] functions.  They are often combined with a [[w:marketing information system|marketing information system]], in which case they are often called [[w:customer relationship management|customer relationship management]] (CRM) systems. ( Wikipedia )

* A '''[[w:performance indicator|performance indicator]]''' or '''key performance indicator''' ('''KPI''') is a type of [[w:performance measurement|performance measurement]]. KPIs evaluate the success of an organization or of a particular activity in which it engages. ( Wikipedia )

* A '''[[w:sales process|sales process]]''' is an approach to selling a product or service. The sales process has been approached from the point of view of an [[w:engineering|engineering]] discipline (see [[w:sales process engineering|sales process engineering]]). ( Wikipedia )
:In ''Management of a Sales Force'' (12th Ed. p.&nbsp;66) by Rich, Spiro and Stanton a "sales process" is presented as consisting of eight steps. These are: 
:** Prospecting / initial contact
::** Preapproach - planning the sale
:::** identifying and cross questioning
::::** Need assessment
:::::** Presentation
::::::** Meeting objections
:::::::** Gaining commitment
::::::::** Follow-up ( Wikipedia )

* '''[[w:Sales process engineering|Sales process engineering]]''' is the [[w:engineering|engineering]] of better [[w:sales process|sales process]]es. It is thus the quest to design better ways of [[w:selling|selling]], making [[w:sales|salespeople's]] efforts more productive. ( Wikipedia )

* '''[[w:Customer acquisition management|Customer acquisition management]]''' is the set of methodologies and systems to manage customer prospects and inquiries generated by a variety of [[w:marketing|marketing]] techniques. It can be considered the connectivity between advertising and [[w:customer relationship management|customer relationship management]]. This critical connectivity facilitates the acquisition of targeted customers in an effective fashion. ( Wikipedia )

* '''[[w:Customer retention|Customer retention]]''' is the activity that a selling organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship. ( Wikipedia )

=== Strategic Business-to-Business Relationship Management - Session 4 ===

* A '''[[w:business idea|business idea]]''' is a [[w:concept|concept]] which can be used for [[w:Commerce|commercial]] purposes. It typically centers on a [[w:commodity|commodity]] or [[w:service (economics)|service]] that can be sold for money, according to a unique model. ( Wikipedia )

* A '''[[w:business architecture|business architecture]]''' is a part of an [[w:enterprise architecture|enterprise architecture]] related to corporate [[w:business|business]], and the [[w:document|document]]s and [[w:diagram|diagram]]s that describe the architectural structure of that business. People who build business architecture are known as [[w:business architect|business architect]]s. ( Wikipedia )

* '''[[w:IT service management|IT service management]]''' refers to the implementation and management of quality [[w:information technology|information technology]] services. IT service management is performed by IT service providers through people, process and information technology. ( Wikipedia )

* '''[[w:IT portfolio management|IT portfolio management]]''' is the application of systematic management to the investments, projects and activities of enterprise [[w:Information Technology|Information Technology]] (IT) departments. ( Wikipedia )
:::Examples of IT portfolios would be planned initiatives, projects, and ongoing IT services (such as application support). The promise of IT portfolio management is the quantification of previously informal IT efforts, enabling measurement and objective evaluation of investment scenarios. ( Wikipedia )

* '''[[w:ITIL|ITIL]]''' (formerly known as the '''Information Technology Infrastructure Library''') is a set of practices for [[w:IT service management|IT service management]] (ITSM) that focuses on aligning IT services with the needs of business. ( Wikipedia )

* An '''[[w:elevator pitch|elevator pitch]]''', elevator speech, or elevator statement is a short summary used to quickly and simply define a person, profession, product, service, organization or event and its [[w:value proposition|value proposition]]. ( Wikipedia )

=== Strategic Business-to-Business Relationship Management - Session 5 ===
* Finnbuild fair contacting

=== Strategic Business-to-Business Relationship Management - Session 6 ===

=== Strategic Business-to-Business Relationship Management - Session 7 - CRM in b-to-b services Segmentation in B2B ===


=== Strategic Business-to-Business Relationship Management - Session 8 - Multichannel ===

'''[[w:Multichannel marketing|Multichannel marketing]]''' is the ability to interact with potential customers on various platforms. In this sense, a channel might be a retail store, a web site, a mail order catalogue, or direct personal communications by letter, email or text message. ( Wikipedia )

=== Further reading ===
* [http://scholar.google.com/citations?user=w8_IgR0AAAAJ&hl=en Pennie Frow Google Scholar account] - Associate Professor, University of Sydney - [[w:Co-creation|Co-creation]], [[w:innovation|innovation]], [[w:marketing strategy|marketing strategy]]
* [http://scholar.google.com/citations?user=eGnnzDYAAAAJ&hl=en Adrian Payne Google Scholar account] - Professor of Marketing - Marketing, CRM, Relationship Marketing, Co-creation

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=  Business-to-Business Selling and Sales Management‎ = 
Course code: MAR3LF003

Teacher: Seija Bergström

== B2B Selling and Sales Management - Session 1 ==

* '''[[w:Sales management|Sales management]]''' is a [[w:business|business]] discipline which is focused on the practical application of [[w:sales|sales]] techniques and the management of a firm's [[w:sales operations|sales operations]].  
::: It is an important business function as [[w:Sales (accounting)|net sales]] through the sale of [[w:Product (business)|product]]s and [[w:Service (economics)|services]] and resulting [[w:Profit (economics)|profit]] drive most commercial business.  These are also typically the goals and [[w:performance indicator|performance indicator]]s of sales management. ( Wikipedia )

* A '''[[w:sales process|sales process]]''' is an approach to selling a product or service. The sales process has been approached from the point of view of an [[w:engineering|engineering]] discipline (see [[w:sales process engineering|sales process engineering]]). ( Wikipedia )

* '''[[w:Buying centers|Buying centers]]'''  (as a component of [[w:business-to-business|business-to-business]] [[w:marketing|marketing]], and sometimes known as '''[[w:decision making units|decision making units]]''' ('''DMU''')) is that they represent attempts to formalise marketing decision-making in complex environments. ( Wikipedia )