...A. ACCOUNTANT (v)—one trained in the management of financial records and reporting of the financial aspects of an organization. -Ac-coun-tant –syllabi.-(kount’tant) --ant; replacing late Middle English accomptant < Middle French, Old French acuntant, present participle of acunter to account --Bill Shannon’s career began as a trainee accountant with Hutton, turner, law son, now part of earns& young ACCOUNTING—the science of prov. Meaningful information about a company’s finances as a tool for manage Pronoun.-(ac-count-ing) –sylla.-\ə-ˈkau̇n-tiŋ\ --Accounting profession is quite influential in Hong Kong. -. ANNUITY (N)—a type of life insurance contract that guarantees periodic payments to the insured at some future time, usually retirement. -(- An-nui-ty) -syllabi (\An*nu"i*ty\,). -; late Middle English < Anglo-French annuité, annualté < Medieval Latin annuitās, equivalent to Latin annu ( us ) yearly (derivative of annus year) syllabi. -itās -ity -- The term annuity is used in finance theory to refer to any terminating stream of fixed payments over a specified period of time. ASSET (N)—any item of value, often descriptive of the strong point of a person or company. The property of a person or bus available for discharge of debt. -- Anglo-French, Old French asez enough. See assai -as·set- -syllabi.\ˈa-ˌset also -sət\ -- Assets acquired by taxpayers whilst resident outside the U...
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...HANSON CANADA PROFESSIONAL SELLING SAMPLE OF QUESTIONS 1) Many studies dealing with incomes earned in the business community tell us that: A) salespeople earn significantly higher incomes than most other workers in the business communitY. B) salespeople earn siigntly less than other workers in the business community. C) salespeople earn about the same income as other persons in the business communitY. D) there are no relevant studies that link income and the salesperson. Answer: A ' 2) Which of the following statements accurately describes a career in selling? A) salespeople generally do not have good job security Bi salespeople have numerous opportunities to advance to middle-management ranks C) salespeople generally have lower incomes D) salespeople have limited opportunities for advancement Answer: B 3) ln sales, CSR stands for: A) Computer Sales Representative. B) Customer Service Representative. C) Customer Satisfaction Representative. D) Competitor Status Rating. Answer: B 4) All of the following describe a category of sales personnel in the field of manufacturing excePf: A) rack jobber. B) sales engineer, C) field salesPerson. D) detail salesPerson. Answer: A 5) All the following statements regarding careers in personal selling are true except: A) Sales careers can provide above-average psychic income. ei fne skills and knowledge needed to achieve success in the various selling careers vary greatlY. c) salespeople today have many...
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...Summary of the article about “NIKE-marketing strategies” The World’s largest seller of athletic footwear and athletic apparel is NIKE. NIKE sells it’s products in over 200 countries and they keep the lead by being always a step ahead of the competition when it comes to technology, advertising and sponsorship. Since the crisis of the 1990’s the Revenue Performance of NIKE had a persistent rise every year until nowadays. The business model of NIKE was developed by Phil Knight in the early 1960’s. He was inspired by the Japanese lower-cost and high-quality products. Since it’s creation, the company is based on innovative design, quality and durability. NIKE focuses on Design, Marketing and Distribution: the company comes up new products before the competitors, creates demand and makes sure that they sell the most innovative products. NIKE has spent a large amount of money on promoting their brand so the costumers want to by the symbol and they are willing to pay a higher price regardless of the actual value of the product. NIKE runs various campaigns to stay in touch with their customers. Position Paper For my position paper I wanted to discuss in particular the advertising and the selling strategies of NIKE. The article praises, (by giving many stats and percentages) the ability that NIKE has to get close with the customers and with their communities with successful campaigns and with well planned advertising. Personally I agree with the article, the decision making...
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...The HF76 wants to revamp its sales incentive plan. The advantage of the old incentive plan is maintaining its original market share and volume of sales to assure certain amount of revenue. However, the plan does not meet the company’s strategy, which is opening the new market, gaining more shares in the lucrative markets, and increasing the accuracy of forecasts. In this essay, through addressing the pros and cons of the new incentive plan, I offer some recommendations to the new incentive plan to increase accuracy of forecast and slow the increase of commission and ultimately to make the salesperson care about the selling expense. The new incentive plan is introduced in order to tackles these three problems by providing commissions on product gross margins, promising an extra bonus on accuracy of the sales forecasts, and offering a bonus on the achievement of MBO targets. However, the new incentive plan brings some new problems. There are four downsides of this plan. Firstly, no commission will be paid until gross margins exceed 70% of the forecast. It is totally unfair to sales representatives taking care of the low gross margin products. Secondly, in order to receive the extra bonus, sales persons of low gross margin products will be inclined to move this year’s sales to next year or vice versa. Others associated with products whose gross margin exceed 70% tend to ignore the accuracy of the forecast due to the little amount of bonus based on 5% of their salary other than...
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...Job Analysis and Selection Since InterClean, Inc., has acquired EnviroTech I would like to make sure everyone is heading toward the company’s mission and goals. To do that I will need to do a job analysis, workforce planning, and then I will be selecting a group of employees who will embrace our company’s new strategy, and they will become the new sales team. Job Analysis “The term job analysis describes the process of obtaining information about jobs” (Cascio, 2006, p. 158). The job analysis to determine the essential characteristics of a job in order to produce job specification. A job specification is a written statement of the essential characteristics of a job including necessary qualifications, duties, responsibilities, and degree of authority of the job holder. Another part needed is a summary of the task requirements that is called a job description. According to Cascio, “it usually includes information about the tasks, to be done on the job as-well-as the personal characteristics (education, experience, specialized training, and personality) necessary to do the tasks” (p. 158). Three key elements that are included in a job analysis are: 1. Knowledge - body of information necessary for task performance 2. Skills - level of proficiency needed for task performance 3. Abilities - capabilities necessary to perform the job I will be doing the job analysis with some help and guidance from human resources. By me doing this, it will give me...
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...company doesn’t have any programs that will pay the employee for their sick time. The company doesn’t also have any type of paid vacation. A company that offer incentives based only on sales, gives their employees nothing to look for in the long run. “Compensation practices are strategic when they encourage employees to put forth their best effort and perform in ways that help the company produce its particular goods and services”. The company should introduce a system that have a short and long term incentive for an employees’ performance. This will ensure that the customer stay motivated to continue sealing sales. An incentive that gives the employee an extra $500 with the highest sales would push the agents beyond their comfort selling zone. I also think that Collegiate Promotions should try to implement a 70/30 plan, which gives their employees a base rate of 70% and the next 30% from sales. This will ensure that the employee gets a check even if they don’t sell anything, but also keeps them motivated wanting to meet the target in order to get the additional 30%. This type of system doesn’t punish the employee when they don’t sell items, but motivate...
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...needs to engage in Self-Service Ads and Engagement Ads, like Facebook does. Pinterest should duplicate their revenue model on Facebook’s revenue stream. Opportunities to Create Value Through Revenue Stream Strategic Area: Opportunities to Create Value: Challenges to Create Value: Accounting • Create large cash flow for immediate expenses • Limited free cash flow Finance • Create capital for current and future investment opportunities • Lack of capability to invest in opportunities Management • Create a relationship with ad/marketing consultants • Negotiations about details with new consultants Marketing • Market new opportunities for others to advertise on Pinterest and charge fees to businesses • Lack of experience in selling Ad space and charging for business membership Opportunity and Challenge Overview • The plan to create a revenue stream will help with many areas. Every business needs money to run, and Pinterest has no income. This income will allow Pinterest to pay more employees, which will help with their everyday tasks. • New financing will allow Pinterest to invest in new expenditures to expand their business. For example, Facebook created revenues with advertisements, and obtained desirable workspaces to entice the best employees. Pinterest does not want to be without capital for...
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...The incentive will work as follows: one if you sell a warranty on a cell phone the salesperson receives an extra five dollars on their check. Another incentive for the salespeople is a $200 dollar bonus for going over their quota by 100 cell contracts or cell phone. The incentives for the sales team are below. Also a superstar employee can be promoted from within, Sales Supervisor, Manager and store Manager. The employee will receive health insurance if they work twenty-five hours a week. The health insurance is through Humana which covers, dental, doctor visits, emergency room care. Each employee will receive one week of sick time and two weeks of vacation per year Sold Warranty | $5.00 | Selling 50 over Quota | $100.00 | Selling 100 over Quota | $200.00 | Selling a Credit Card | $50.00 | Manager Yearly Bonus for Over Quota | $1000.00 | Sales Associate | 10.00 an hour | Sale Supervisor | $15.00 an hour | Manager | $35,000 a year | Store Manager | $50,000 with Stock options | Salesperson | $10.00 Commission on a sale of a 499.99 phone | Plan for Motivating the Sales Force The plan for motivating the sales team is to have weekly manager meetings to evaluate their staff and determine new incentives and bonus for sales. Another way to motivate the sales team is to plan on having a motivational speaker that talks about sales. Another thing that the managers could do is have an employee of the month and they receive a $50 dollar gift card to a restaurant...
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...Developing Marketing Paper Nicholas Crosby MKT/421 February 8, 2014 Henry Tran Developing Marketing Paper My definition of marketing is the act of buying and selling goods in a market or in a business matter. It will be the functions to transferring goods from the producer to consumer other known as from the seller to the buyer. Marketing is the management process through which goods and services move from concept to the consumer. It includes the coordination of the four elements which involves the four P’s in marketing. The four P’s in marketing are the Product, Price, Place and the Promotional strategy. Thomas (2006) “Marketing is outlines the specific actions you intend to carry out to interest potential customers and clients in your product and/or service and persuade them to buy the product and/or services you offer” para 5. The importance of marketing in an organizational success is that marketing is everything a company does to acquire customers and maintain a relationship with them. Carl (2002) “The ultimate goal of marketing in a organization’s is to match the company's products and services to the people who need and want them, thereby ensure more profitability” para 4. This is very important because in marketing departments in order to gain success you have to try to get the attention of people and target audiences by using slogans, packaging design, endorsements and general social media exposure. Some examples of business that use marketing are for one Chaparral...
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...Individual Assignment Company Reports Individual Assignment: Sales Strategy and communication – (20% of total marks available) Due session 6 in class This individual assignment is designed to give the student a practical approach of how to find and qualify potential customers for an organisation they may be working for as a sales person. It is also designed to highlight the importance of research in developing effective sales strategies. You will also develop an understanding of why it is important to have a sound knowledge of both your company and the potential company you wish to sell to, the market in which you are operating and the competitive landscape. The objective of the report is to uncover essential and relevant information that can be used in your Sales Call and Sales Presentations In this assignment you are required to write a 3-4 page business report. This is a B2B report not B2C You are required to choose a company whose product(s) you wish to sell (you will be assuming the role of a sales representative for the company you select) This company will also be used for your Group assignment. This is to be agreed upon by all group members prior to the commencement of this individual section. Then select the organisation that would potentially be a suitable candidate for your product (Buyer) N.B., the company you select must not be already buying the product from the selling company. Each group member is to select a different buying organisation for...
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...The company will continue to make money from the product. If the independent sales representative makes enough in sales, the more products the representative will purchase from the company. Compensation is an important factor why people choose to work for an organization. An effective compensation system in an organization is linked to the organization strategies. The three objectives of any compensation system are to attract workers, retain the best employers and motivate employees to help the company achieve its strategic goals. Employers must balance compensation cost that both ensure organization competitiveness and compensate employees. The way collegiate promotions structures their business that independent sales representative determine their own compensation. For collegiate promotions this strategy works because the company is able to reduce their overhead by increase their sales force. The sales representative would sale at the high end of the scale in order to maximize profit. Sale positions are very competitive and demanding. Sales representative sells goods at high prices and establish selling price at a competitive level that allows for a reasonable profit. Such objectives result in sales representative having different markup on items. Most sales representatives will sell at the top of the price range if the demand for the products are high and the quantity of products are low....
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...that involves advertising which only a few people that are in a marketing group at a corporation. But as we are going to find out marketing is so much more with different layers and involves more than a small group of people. Defining Marketing “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.” (Perreault, Ph.D, Cannon, Ph.D., & McCarthy, Ph.D., 2011, p.). Another definition comes from a web source and states that marketing is the buying and selling of a product but goes into detail saying that marketing is the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling (Dictionary.com, 2013). Importance of Marketing Based on the definitions we can see...
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...Corporation 1) What is direct selling? • Direct selling is face-to-face selling away from a fixed business location. Direct selling is a form of non-store retailing. Direct selling firms do very little advertising. The majority of direct selling firms are small, privately owned firms created and operated by entrepreneurs, many of whom often want a low public profile. 2) How would one respectively characterize CUTCO Corporation and Vector Marketing Corporation? • Vector Marketing Corporation are direct sales firms that market Cutco Cutlery, a line of kitchen cutlery, accessories and sporting knives of the highest quality. A Pennsylvania corporation with its administrative offices in Olean, NY, Vector is a wholly owned subsidiary of CUTCO Corporation, which has been Manufacturing Cutco Cutlery for 61 years. Handcrafted in the United States of the finest materials, Cutco products have a Forever Guarantee that protects the consumer investment. As the sole distributor of Cutco, Vector has offices across the United States and Canada. Cutco is steady growing company that reaches a large segment of the world either through websites or television commercials. Vector annual sales are over $209 million dollars. Currently Vector has over 200 offices in the U.S. and Canada. • Vector Marketing Corporation belongs to the Direct Selling Association, whose members are leading companies engaged in direct selling in the United States. All DSA...
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...Mary West The Smart Guide to Successful Social Selling Tweets Chief Marketing O cer at Omni Corp Lives in San Francisco, California From Mooroolbark, Victoria, Australia Knows English, Swedish, Dutch and 12 others Mary Wes Chief Marke Current Previous Education San Francisco, C Mary West @marywest CMO of Omni Corp, concert junkie, and grilled cheese enthusiast San Francisco, CA Send a me 6,384 341 Following Followers 32,481 Follow SELL. SERVICE. MARKET. SUCCEED. The information provided in this e-book is strictly for the convenience of our customers and is for general informational purposes only. Publication by salesforce. com does not constitute an endorsement. Salesforce.com does not warrant the accuracy or completeness of any information, text, graphics, links or other items contained within this e-book. Salesforce.com does not guarantee you will achieve any specific results if you follow any advice in the e-book. It may be advisable for you to consult with a professional such as a lawyer, accountant, architect, business advisor or professional engineer to get specific advice that applies to your specific situation. © 2014 Salesforce.com. All rights reserved. 79% of salespeople who use social media as a selling tool outperform those who don’t. -Social Media and Sales Quota Survey If you had been told 10 years ago that your customers would write down all their wants, needs, opinions, and thoughts and then publish them...
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...Michael Roberson RES/351 April 17, 2014 Deborah Levin Unethical Conduct The ability to report unethical conduct has flourished in the business research community. In Marketing, salespeople among groups demonstrated the lack of personal ethical judgment when unethical conduct was linked to personal, ethical perspectives. The purpose of this essay is to discuss unethical behavior as it affects a salesperson. Individuals have a different approach to marketing because of its blinding effect on the points of levels. The personal, ethical perspective of a salesperson is philosophical. In an organization, unethical behavior is a rule that is administered by the organization for the purpose of communicating marketing strategies. This rule applies under a code of ethics that involved taking surveys from the organization, the individual, and society. The survey is designed to simulate the unethical behavior situations that grow over the amount of sales a salesperson receives from merchandise discounted without management approval. The importance of the survey identifies the salesperson in the organization, but in an organization, society portrays each as a component. The salesperson encounters the decision that stems from unethical behavior. Ethical pressure is mostly the work group that becomes the next level. The unethical behavior could be avoided by not following the organization's rules (Ferrell, Johnston, & Ferrell, 2007). Most dictionaries...
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