FINALS REVIEWER
Lecture 12: Sales and Marketing Management
1. Sales Management is the attainment of sales
goals in an ethical, efficient, and effective manner.
2. -Planning
- Staffing
- Training
- Leading
- Controlling organizational resources
3. Sales Performance Management is the practice of
monitoring and guiding personnel to improve
their ability to sell products or services.
4. CONCEPTUAL AND DECISION SKILLS - Refer to the
cognitive ability to see the organization as a whole
and the relationships among its parts.
5. PEOPLE SKILLS- Involve the ability to work with
and through other people and to work effectively
as a group member.
6. TECHNICAL SKILLS - The ability to perform a
specialized task that involves a certain method or
process.
7. Sales–Trying to get the customer to want what
the company produces.
8. Marketing–Trying to get the company produce
what the customer wants.
9. Marketing is the management process that
identifies, anticipates and satisfies customer
requirements profitably.
10. Marketing is the process of planning and
executing the conception, pricing, promotion, and
distribution of ideas, goods, services to create
exchanges that satisfy individual and
organizational goals.
11. Marketing is all about managing the four P’s:
–PRODUCT(Customer Solution)
–PRICE(Customer Cost)
–PLACE(Convenience)
–PROMOTION(Communication)
12.
13. Marketing Management is the art and science of
choosing target markets and getting, keeping, and
growing customers through creating, delivering,
and communicating superior customer value.
14. The Marketing Plan - A written document that
acts as a guidebook of marketing activities for the
marketing manager
15. Marketing Triangle
16. Value - The benefits the customers gain from
using the product versus the cost of obtaining the
product.
17. Satisfaction - Based on a comparison of
performance and expectations.
18. -Performance >Expectations =>Satisfaction
19. -Performance < Expectations =>Dissatisfaction
20. PLC - Product Life Cycle
21. Five stages of the PLC
22. Product development - Sales are zero, investment
costs are high
23. Introduction - Profits do not exist, heavy expense
of product introduction
24. Growth - Rapid market acceptance and increasing
profits
25. Maturity - Slowdown in sales growth. Profits
level-off. Increase outlay to compete
26. Decline - Sales fall-off and profits drop
Lecture 12: Sales and Marketing Management
1. ___________ is the attainment of sales goals in an
ethical, efficient, and effective manner.
2. Through: - ____building a profitable costumer
team
______- hiring the right people
______ educating sales personnel
_____guiding average people
_____Evaluating the past
3. ___________ is the practice of monitoring
and guiding personnel to improve their ability
to sell products or services.
4. ___________ - Refer to the cognitive ability to see
the organization as a whole and the relationships
among its parts.
5. ___________ - Involve the ability to work with
and through other people and to work effectively
as a group member.
6. ___________ - The ability to perform a specialized
task that involves a certain method or process.
7. ___________ – Trying to get the customer to
want what the company produces.
8. ___________ – Trying to get the company
produce what the customer wants.
9. ___________ is the management process that
identifies, anticipates and satisfies customer
requirements profitably.
10. ___________ is the process of planning and
executing the conception, pricing, promotion, and
distribution of ideas, goods, services to create
exchanges that satisfy individual and
organizational goals.
11. Marketing is all about managing the four P’s:
–___________ (Customer Solution)
–___________ (Customer Cost)
–___________ (Convenience)
–___________ (Communication)
12.
13. ___________ is the art and science of choosing
target markets and getting, keeping, and growing
customers through creating, delivering, and
communicating superior customer value.
14. ___________ - A written document that acts as a
guidebook of marketing activities for the
marketing manager(including parts)
15. Marketing Triangle
16. ___________ - The benefits the customers gain
from using the product versus the cost of
obtaining the product.
17. ___________ - Based on a comparison of
performance and expectations.
18. -Performance >Expectations => ___________
19. -Performance < Expectations => ___________
20. PLC - ___________
21. Five stages of the PLC
22. ___________ - Sales are zero, investment costs
are high
23. ___________ - Profits do not exist, heavy expense
of product introduction
24. ___________ - Rapid market acceptance and
increasing profits
25. ___________ - Slowdown in sales growth. Profits
level-off. Increase outlay to compete
26. ___________ - Sales fall-off and profits drop
Lecture 13: Financial Management 19. Cash Budgets - Used to forecast the cash a
company will have for expenses
1. Financial Management is the management of the 20. Capital Expenditure Budgets - Used to forecast
finances of a business / organization in order to large, long-lasting investments
achieve financial objectives. 21. Variable Budgets - Used to project costs across
2. Key Elements of Financial Management varying levels of sales/revenues
3. Financial Planning - Management need to ensure 22. Financial Ratios
that enough funding is available at the right time
23. LIQUIDITY RATIOS - Current Ratio
to meet the needs of the business. In the short Quick (Acid Test) Ratio
term, funding may be needed to invest in 24. LEVERAGE RATIOS - Debt to Equity
equipment and stocks, pay employees and fund Debt Coverage
sales made on credit
25. EFFICIENCY RATIOS - Inventory Turnover
4. Financial Control - Financial control is a critically Average Collections Period
important activity to help the business ensure 26. PROFITABILITY RATIOS - Gross Profit Margin
that the business is meeting its objectives.
Return on Equity
5. Financial control addresses questions such as:
- Are assets being used efficiently?
- Are the businesses assets secure?
- Do management act in the best interest of
shareholders and in accordance with business
rules?
6. Financial Decision-Making - The key aspects of
financial decision-making relate to investment,
financing and dividends
7. The Financial Analysis Tools
8. Cash flow analysis - Predicts how changes in a
business will affect its ability to take in more cash
than it pays out
9. Balance sheets - Provide a snapshot of a
company’s financial position at a particular time
10. Income statements - Show what has happened to
an organization’s income, expenses, and net profit
over a period of time
11. Financial ratios - Used to track liquidity,
efficiency, and profitability over time compared to
other businesses in its industry
12. Parts of a Basic Balance Sheet
13. Assets - Current assets
Fixed assets
14. Liabilities - Current liabilities
Long-term liabilities
15. Owner’s equity - Stock
Additional paid in capital
Retained earnings
16. Revenue Budgets - Used to project or forecast
future sales
17. Expense Budgets - Used to determine spending
on supplies, projects, or activities
18. ProfitBudgets - Used by profit centers, which
have “profit and loss” responsibility
Lecture 13: Financial Management 19. ___________ - Used to forecast the cash a
company will have for expenses
1. ___________ is the management of the finances 20. ___________ - Used to forecast large, long-lasting
of a business / organization in order to achieve investments
financial objectives. 21. ___________ - Used to project costs across
2. Key Elements of Financial Management varying levels of sales/revenues
3. ___________ - Management need to ensure that 22. Financial Ratios
enough funding is available at the right time to
23. ___________ - Current Ratio
meet the needs of the business. In the short term, Quick (Acid Test) Ratio
funding may be needed to invest in equipment 24. ___________ - Debt to Equity
and stocks, pay employees and fund sales made Debt Coverage
on credit
25. ___________ - Inventory Turnover
4. ___________ - is a critically important activity to Average Collections Period
help the business ensure that the business is 26. ___________ - Gross Profit Margin
meeting its objectives.
Return on Equity
5. Financial control addresses questions such as:
- Are assets being used efficiently?
- Are the businesses assets secure? Formula for:
- Do management act in the best interest of Current ratio, quick ratio
shareholders and in accordance with business Debt to net worth ratio
rules? Gross profit margin
6. ___________ - The key aspects of financial Return on owner’s investment
decision-making relate to investment, financing Break-even volume
and dividends
7. The Financial Analysis Tools
8. ___________ - Predicts how changes in a business
will affect its ability to take in more cash than it
pays out
9. ___________ - Provide a snapshot of a company’s
financial position at a particular time
10. ___________ - Show what has happened to an
organization’s income, expenses, and net profit
over a period of time
11. ___________ - Used to track liquidity, efficiency,
and profitability over time compared to other
businesses in its industry
12. Parts of a Basic Balance Sheet
13. ___________ - Current assets
Fixed assets
14. ___________ - Current liabilities
Long-term liabilities
15. ___________ - Stock
Additional paid in capital
Retained earnings
16. ___________ - Used to project or forecast future
sales
17. ___________ - Used to determine spending on
supplies, projects, or activities
18. ___________ - Used by profit centers, which have
“profit and loss” responsibility
 financing provided by the stockholders along
with the earnings from the business not paid
Lecture 14: FinancialStatement out as dividends.
1. Financial Statements - The purpose of these 18. Current assets are assets that will be used or
statements isto help users make better turned into cash within one year.
decisions. 19. Non-current assets comprise the remainder
2. Three basic financial statements: of the assets.
- The Income Statement 20. Current liabilities are obligations that will be
- The Statement of Retained paid in cash (or other services) or satisfied by
Earnings providing service within the coming year.
- The Balance Sheet 21. Long-term liabilities are obligations that will
3. The Income Statement reports a business’ not be paid or satisfied within the year.
performance for the period. 22. Stockholders’ Equity is divided into two
4. Revenues – Expenses = Net Income categories: contributed capital and retained
5. Revenues are earned for the sale of goods or earnings.
services. Note that revenues occur when the 23. Contributed capital is the amount of cash (or
sale is made. The payment may or may not other assets) provided by the shareholders.
have been received. 24. Income statement—A summary of the
6. Expenses are incurred when a business revenue and expenses for a specific period of
receives goods and services. Like revenues, time.
payment may or may not have been made. 25. Statement of retained earnings – a summary
7. Cost of goods sold represents the expense a of the changes in the retained earnings that
business incurred to buy or make a product have occurred during a specific period of
for resale. time.
8. Operating expenses are the usual expenses 26. Balance sheet—A list of the assets, liabilities,
incurred in operating a business. and owner’s equity as of a specific date.
9. Non-operating items are revenue, expenses,
gains and losses that do not relate to the
company’s primary operations.
10. Income taxes are computed by multiplying
Income before taxes by the income tax rate.
11. The Statement of Retained Earnings reports
how net income and dividends affected a
company’s financial position during the
period.
12. Note that the Income Statement must be
prepared before the Statement of Retained
Earnings.
13. The purpose of the balance sheet is to report
the financial position of an accounting entity
at a particular point in time.
14. Assets = Liabilities + Equity
15. Assets are economic resources owned by a
company.
16. Liabilities are the company’s debt or
obligations.
17. Equity is the residual balance. Equity is
commonly called stockholders’ equity if the
business is a corporation as it represents the
 with the earnings from the business not paid
out as dividends.
Lecture 14: FinancialStatement 18. ___________ are assets that will be used or
1. ___________ - The purpose of these turned into cash within one year.
statements is to help users make better 19. ___________ comprise the remainder of the
decisions. assets.
2. Three basic financial statements: 20. ___________ are obligations that will be paid
- The Income Statement in cash (or other services) or satisfied by
- The Statement of Retained providing service within the coming year.
Earnings 21. ___________ are obligations that will not be
- The Balance Sheet paid or satisfied within the year.
3. The ___________ reports a business’ 22. ___________ is divided into two categories:
performance for the period. contributed capital and retained earnings.
4. Revenues – Expenses = ___________ 23. ___________ is the amount of cash (or other
5. ___________ are earned for the sale of goods assets) provided by the shareholders.
or services. Note that revenues occur when 24. ___________ —A summary of the revenue
the sale is made. The payment may or may and expenses for a specific period of time.
not have been received. 25. ___________ – a summary of the changes in
6. ___________ are incurred when a business the retained earnings that have occurred
receives goods and services. Like revenues, during a specific period of time.
payment may or may not have been made. 26. ___________ —A list of the assets, liabilities,
7. ___________ represents the expense a and owner’s equity as of a specific date.
business incurred to buy or make a product
for resale.
8. ___________ are the usual expenses incurred
in operating a business.
9. ___________ are revenue, expenses, gains
and losses that do not relate to the company’s
primary operations.
10. ___________ are computed by multiplying
Income before taxes by the income tax rate.
11. The ___________ reports how net income
and dividends affected a company’s financial
position during the period.
12. Note that the Income Statement must be
prepared ___________ the Statement of
Retained Earnings.
13. The purpose of the ___________ is to report
the financial position of an accounting entity
at a particular point in time.
14. ___________ = Liabilities + Equity
15. ___________ are economic resources owned
by a company.
16. ___________ are the company’s debt or
obligations.
17. ___________ is the residual balance. ___is
commonly called stockholders’ equity if the
business is a corporation as it represents the
financing provided by the stockholders along