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Emily C. Tanner, Ph.D.,
Suzanne C. Bal,
and
Michael F. Walsh, Ph.D.
In the fourth part of the Sales Operations/Management Specialization, students will explore the purpose and methods for forecasting and budgeting in a management role. Next, we will learn how to develop territories and evaluate sales performance. Finally, we will explore the legal and ethical issues facing sales managers.
Register for this course and see more details by visiting:
OpenCourser.com/course/vzzz63/forecasting
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What's inside
Syllabus
Sales Forecasting and Budgeting
This week we will spend some time learning how to define the overall potential of the market in terms of sales volume. We will then use this information to develop a sales forecast for our market. We will next describe three approaches to calculating market potential. Once we have arrived at our sales forecast, we will discuss some of the key issues that may influence our sales forecast. We will finish up our week with a discussion of the 9 commonly used forecasting methods along, the data used in each and some of the pros and cons of each method.
Read more
Syllabus
Sales Forecasting and Budgeting
This week we will spend some time learning how to define the overall potential of the market in terms of sales volume. We will then use this information to develop a sales forecast for our market. We will next describe three approaches to calculating market potential. Once we have arrived at our sales forecast, we will discuss some of the key issues that may influence our sales forecast. We will finish up our week with a discussion of the 9 commonly used forecasting methods along, the data used in each and some of the pros and cons of each method.
Read more
Territory Management
In this module, we will address sales territory management. We will discuss why sales territories are created and two approaches used to develop a sales territory.
Sales Performance Evaluation
In this module, we will discuss sales performance evaluation. We will identify the components of performance evaluation. As part of that, we will introduce something called the Pareto Principle or as you might know, the “80/20 Rule.” We will show you five options for analyzing sales volume. Finally, we will address cost analysis/evaluation. As part of that, we will discuss some of the problems with analyzing marketing costs and how marketing cost analysis is applied to business decision making.
Legal and Ethical Issues
In this module, we cover ethics and legal issues that a sales manager must be familiar with. We will begin with distinguishing between ethics and legal issues. We will review the kinds of issues and legal issues that confront sales administration and how you should deal with this. We will also discuss what a code of ethics is and why this is important. Finally, we will wrap up with a discussion of some legal issues that face sales managers.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Explores sales forecasting, a process that's fundamental in sales operations and management
Taught by recognized experts in the field
Suitable for those pursuing careers in sales management
Provides strategies for developing sales territories and evaluating sales performance
Covers legal and ethical issues, crucial knowledge for sales managers
May require prerequisites in sales or business
Save this course
Save Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues to your list so you can find it easily later:
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Reviews summary
Sales and marketing foundation course
Learners say this course provides a strong foundation in Sales and Marketing. Reviews are largely positive, indicating that learners found the course to be engaging, well-paced, and informative. The course covers a wide range of topics, including forecasting, budgeting, territories, evaluation, and legal/ethical issues. Learners particularly appreciate the practical nature of the course and its real-life applications.
The pacing of the course is good and the content is engaging.
The course provides a comprehensive overview of sales and marketing.
"Overall good content if you are not familiar with the subject or if you want to have a broad picture of what SM entails."
This course is applicable to real life, especially for accountants, business analysts, sales managers, and business leaders.
"This course is practicable, applicable to real life and applicabe for Accountants , business analyst , sales managers and business leaders."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues with these
activities:
Review: The Sales Management Handbook
Show steps
Reviewing this book can provide you with foundational knowledge on sales forecasting and help you to better grasp concepts
View
Fundamentals of Business Marketing Education: A...
on Amazon
Show steps
-
Read the foreward
-
Briefly read each chapter
-
Spend 15 - 20 minutes reviewing the conclusion
-
Make notes on key points and concepts
Practice: Sales Forecasting
Show steps
Practicing sales forecasting drills will reinforce the methods and techniques presented in this module.
Browse courses on
Sales Forecasting
Show steps
-
Review the different forecasting methods discussed in the module.
-
Identify a sample company and industry for which you will create a forecast.
-
Gather relevant data and information about the company and industry.
-
Select one or two forecasting methods and apply them to the data you have gathered.
-
Write a brief report summarizing your findings and recommendations.
Tutorial: Sales Performance Evaluation
Show steps
Following this tutorial will provide reinforcement on the evaluation methods and give you an opportunity to practice the application of these methods.
Show steps
-
Identify a few different methods for evaluating sales performance.
-
Identify a scenario or case study.
-
Apply the evaluation methods to the scenario or case study.
-
Discuss the pros and cons of each method.
-
Identify how you would use the results of the evaluation to improve sales performance.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Deliverable: Territory Management Plan
Show steps
Creating a territory management plan will allow you to apply the concepts you learn in this module and customized for your specific market or industry.
Show steps
-
Research and analyze your target market.
-
Identify potential sales territories.
-
Develop a sales strategy for each territory.
-
Create a map or visual representation of your territories.
-
Write a brief report summarizing your findings and recommendations.
Peer Discussion: Legal and Ethical Issues
Show steps
Engaging in peer discussions will provide you with diverse perspectives on the legal and ethical issues faced by sales managers
Show steps
-
Identify a specific legal or ethical issue that sales managers face.
-
Research the issue and identify the relevant laws and regulations.
-
Prepare a brief presentation on your findings.
-
Lead a discussion with your peers on the issue.
Podcast: Sales Management Best Practices
Show steps
Creating a podcast will provide you with an opportunity to synthesize and present your knowledge on the key concepts and best practices in sales management.
Show steps
-
Research and identify the key concepts and best practices in sales management.
-
Develop an outline for your podcast.
-
Record your podcast.
-
Edit and produce your podcast.
Sales Simulation Competition
Show steps
Participating in a sales simulation competition will provide you with an opportunity to apply the concepts and skills you have learned in this specialization in a competitive environment.
Show steps
-
Identify a sales simulation competition to participate in.
-
Prepare for the competition by reviewing the materials and practicing your skills.
-
Participate in the competition.
-
Reflect on your performance and identify areas for improvement.
Review: The Sales Management Handbook
Show steps
Reviewing this book can provide you with foundational knowledge on sales forecasting and help you to better grasp concepts
View
Fundamentals of Business Marketing Education: A...
on Amazon
Show steps
Show steps
Show steps
- Read the foreward
- Briefly read each chapter
- Spend 15 - 20 minutes reviewing the conclusion
- Make notes on key points and concepts
Practice: Sales Forecasting
Show steps
Practicing sales forecasting drills will reinforce the methods and techniques presented in this module.
Browse courses on
Sales Forecasting
Show steps
Show steps
Show steps
- Review the different forecasting methods discussed in the module.
- Identify a sample company and industry for which you will create a forecast.
- Gather relevant data and information about the company and industry.
- Select one or two forecasting methods and apply them to the data you have gathered.
- Write a brief report summarizing your findings and recommendations.
Tutorial: Sales Performance Evaluation
Show steps
Following this tutorial will provide reinforcement on the evaluation methods and give you an opportunity to practice the application of these methods.
Show steps
Show steps
Show steps
- Identify a few different methods for evaluating sales performance.
- Identify a scenario or case study.
- Apply the evaluation methods to the scenario or case study.
- Discuss the pros and cons of each method.
- Identify how you would use the results of the evaluation to improve sales performance.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Deliverable: Territory Management Plan
Show steps
Creating a territory management plan will allow you to apply the concepts you learn in this module and customized for your specific market or industry.
Show steps
Show steps
Show steps
- Research and analyze your target market.
- Identify potential sales territories.
- Develop a sales strategy for each territory.
- Create a map or visual representation of your territories.
- Write a brief report summarizing your findings and recommendations.
Peer Discussion: Legal and Ethical Issues
Show steps
Engaging in peer discussions will provide you with diverse perspectives on the legal and ethical issues faced by sales managers
Show steps
Show steps
Show steps
- Identify a specific legal or ethical issue that sales managers face.
- Research the issue and identify the relevant laws and regulations.
- Prepare a brief presentation on your findings.
- Lead a discussion with your peers on the issue.
Podcast: Sales Management Best Practices
Show steps
Creating a podcast will provide you with an opportunity to synthesize and present your knowledge on the key concepts and best practices in sales management.
Show steps
Show steps
Show steps
- Research and identify the key concepts and best practices in sales management.
- Develop an outline for your podcast.
- Record your podcast.
- Edit and produce your podcast.
Sales Simulation Competition
Show steps
Participating in a sales simulation competition will provide you with an opportunity to apply the concepts and skills you have learned in this specialization in a competitive environment.
Show steps
Show steps
Show steps
- Identify a sales simulation competition to participate in.
- Prepare for the competition by reviewing the materials and practicing your skills.
- Participate in the competition.
- Reflect on your performance and identify areas for improvement.
Career center
Learners who complete Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues will develop knowledge and skills
that may be useful to these careers:
Sales Manager
Sales Manager
Sales Managers are responsible for leading and motivating sales teams. They use their knowledge of sales management principles and techniques to develop and implement sales strategies that can help organizations achieve their sales goals. A Sales Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance.
Sales Operations Manager
Sales Operations Manager
Sales Operations Managers are responsible for the day-to-day operations of a sales organization. They work with sales managers and other departments to ensure that sales processes are efficient and effective. A Sales Operations Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance.
Territory Manager
Territory Manager
Territory Managers are responsible for managing sales in a specific geographic territory. They work with sales representatives and other departments to ensure that the organization's products and services are available to customers in their territory. A Territory Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance in their territory.
Vice President of Sales
Vice President of Sales
Vice Presidents of Sales are responsible for leading and managing the sales organization. They work with the CEO and other senior executives to develop and implement sales strategies that can help the organization achieve its goals. A Vice President of Sales with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance.
Consultant
Consultant
Consultants provide expert advice to organizations on a variety of topics, including sales, marketing, and finance. They use their knowledge and experience to help organizations improve their performance and achieve their goals. A Consultant with training in sales forecasting, budgeting, and evaluation can provide valuable advice to organizations on how to improve their sales performance.
Wholesale Manager
Wholesale Manager
Wholesale Managers are responsible for managing the sales of products and services to other businesses. They work with sales representatives and other departments to ensure that the organization's products and services are available to businesses in their target market. A Wholesale Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance.
Sales Representative
Sales Representative
Sales Representatives are responsible for selling products and services to customers. They use their knowledge of the products and services they sell, as well as their understanding of the customer's needs, to develop and implement sales strategies that can help them achieve their sales goals. A Sales Representative with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved sales performance.
Product Manager
Product Manager
Product Managers are responsible for the development and marketing of products. They work with engineers and marketers to ensure that products meet the needs of customers and are profitable. A Product Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved product development and marketing.
Account Executive
Account Executive
Account Executives are responsible for developing and maintaining relationships with clients. They use their knowledge of the client's business to identify and meet their needs, increasing revenue and overall satisfaction. An Account Executive with training in sales forecasting can provide accurate estimates of future sales potential. This can help them better plan for future growth and ensure that they have the resources they need to meet their clients' needs.
Strategy Consultant
Strategy Consultant
Strategy Consultants work with organizations to develop and implement strategies that can help them achieve their goals. They use their knowledge of business strategy and their understanding of the organization's environment to develop and implement strategies that can help the organization achieve its goals. A Strategy Consultant with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved strategy development and implementation.
Market Research Analyst
Market Research Analyst
Market Research Analysts conduct research to identify and understand the needs of customers and markets. They use their knowledge of research methods and data analysis to collect and analyze data that can help organizations develop products and services that meet the needs of their customers. A Market Research Analyst with training in sales forecasting, budgeting, and evaluation can better analyze data and make recommendations that can lead to improved product development and marketing.
Supply Chain Manager
Supply Chain Manager
Supply Chain Managers are responsible for the planning, organization, and execution of the supply chain. They work with suppliers and other departments to ensure that the organization has the materials and resources it needs to meet its production and sales goals. A Supply Chain Manager with training in sales forecasting, budgeting, and evaluation can better understand the market and make decisions that can lead to improved supply chain management.
Business Analyst
Business Analyst
Business Analysts work with organizations to improve their performance by analyzing data and identifying areas for improvement. They use their understanding of business processes and data to develop solutions that can help organizations achieve their goals. A Business Analyst with training in forecasting, budgeting, and evaluation can better analyze data and make recommendations that can lead to improved performance.
Financial Analyst
Financial Analyst
Financial Analysts analyze financial data to make recommendations on investment decisions. They use their knowledge of financial markets and accounting principles to identify undervalued assets and make recommendations that can help investors achieve their financial goals. A Financial Analyst with training in sales forecasting, budgeting, and evaluation can better analyze data and make recommendations that can lead to improved investment performance.
Project Manager
Project Manager
Project Managers plan, organize, and execute projects. They use their knowledge of project management principles and tools to ensure that projects are completed on time, within budget, and to the required quality standards. A Project Manager with training in sales forecasting, budgeting, and evaluation can better plan and manage projects, ensuring that they are completed successfully.
For more career information including salaries, visit:
OpenCourser.com/course/vzzz63/forecasting
Reading list
We've selected 21 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues.
An established and well-regarded text for teaching the theory and practical approaches to sales forecasting and budgeting. builds on the materials presented in the course syllabus, and provides greater depth to the topic of sales forecasting and budgeting.
Comprehensive resource for sales management professionals, covering topics such as sales forecasting, territory management, performance evaluation, and legal and ethical issues. The book provides practical insights and best practices that can be applied to real-world sales management scenarios. It would serve as a valuable reference for students taking this course.
Provides a comprehensive overview of sales performance evaluation, with a focus on identifying and developing key performance indicators (KPIs).
Provides a comprehensive overview of the legal and ethical issues that sales managers must be aware of, including topics such as antitrust law, consumer protection, and employment law.
Provides a comprehensive overview of the legal and ethical issues that sales managers face. It covers topics such as discrimination, antitrust laws, and consumer protection. This book would be a valuable reference for students who want to stay up-to-date on the latest legal and ethical issues in sales management.
A comprehensive guide to sales performance evaluation, this book covers the full range of topics related to measuring and improving sales performance. It provides practical tools and techniques that can be used by sales managers to evaluate their sales teams and identify areas for improvement.
Save
This handbook comprehensive resource for sales managers. It covers a wide range of topics, including sales planning, forecasting, and performance evaluation. would be a valuable reference for students who want to gain a comprehensive understanding of sales management.
Save
Provides a comprehensive overview of the sales profession. It covers topics such as sales planning, prospecting, negotiation, and customer relationship management. This book would be a valuable resource for students who want to gain a broad understanding of the sales profession.
Save
Provides a comprehensive overview of sales performance evaluation, including topics such as performance measurement, feedback, and coaching. It valuable resource for students and professionals who want to learn more about this important topic.
Provides a global perspective on sales management. It covers topics such as cultural differences, international sales strategies, and global market research. This book would be a valuable resource for students who are interested in pursuing a career in international sales management.
Classic in the sales profession. It provides practical advice on how to build relationships, close deals, and achieve success in sales. This book would be a valuable resource for students who want to gain a motivational and inspirational perspective on the sales profession.
Provides a practical guide to territory management, with a focus on developing and implementing effective strategies for sales growth.
Provides a practical framework for sales acceleration. It covers topics such as building a high-performance sales team, developing a repeatable sales process, and using data to drive decision-making. This book would be a valuable resource for students who want to gain insights into how to build a more effective sales organization.
Save
Provides insights into the Challenger Sale methodology. This methodology is based on the idea that sales success comes from challenging customers and helping them to identify their most pressing problems. This book would be a valuable resource for students who want to gain a deeper understanding of the Challenger Sale methodology.
Provides a practical guide to the SPIN Selling methodology. This methodology is based on the idea of asking open-ended questions to uncover customers' needs and objections. This book would be a valuable resource for students who want to gain a deeper understanding of the SPIN Selling methodology.
Provides a comprehensive overview of legal and ethical issues in sales management, including topics such as antitrust law, consumer protection, and pricing. It valuable resource for students and professionals who want to learn more about these important topics.
Provides a practical guide to predictable revenue. This methodology is based on the idea of using data to drive sales and marketing decision-making. This book would be a valuable resource for students who want to gain insights into how to build a more predictable sales pipeline.
Provides insights into how emotional intelligence can be used to improve sales performance. It covers topics such as building rapport, handling objections, and closing deals. This book would be a valuable resource for students who want to gain a deeper understanding of the role of emotional intelligence in sales.
Provides a comprehensive overview of budgeting, including topics such as budgeting principles, budgeting techniques, and budgeting controls. It valuable resource for students and professionals who want to learn more about this important topic.
Save
Provides a comprehensive overview of legal and ethical issues in business, including topics such as business ethics, corporate social responsibility, and environmental law. It valuable resource for students and professionals who want to learn more about these important topics.
Provides a comprehensive overview of the sales force, including topics such as salesforce management, salesforce motivation, and salesforce performance. It valuable resource for students and professionals who want to learn more about this important topic.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/vzzz63/forecasting
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Level
Introductory
Via
Coursera
Institution
West Virginia University
Instructors
Emily C. Tanner, Ph.D.
Suzanne C. Bal
Michael F. Walsh, Ph.D.
Language
English
Transcripts
Español
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آذربایجان دیلی
This course belongs to a
collection
called
Sales Operations/Management. It's comprised of five courses:
- Sales Operations: Final Project
- Compensation, Expenses and Quotas
- Sales Force Management
- Account Management & Sales Force Design
- Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues (viewing)
Good to know
Explores sales forecasting, a process that's fundamental in sales operations and management
Taught by recognized experts in the field
Suitable for those pursuing careers in sales management
Provides strategies for developing sales territories and evaluating sales performance
Covers legal and ethical issues, crucial knowledge for sales managers
May require prerequisites in sales or business
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