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MKT 363 Exam 3 - MKT 363 Exam 3 CHAPTER 8 MOTIVATING A...

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MKT 363 Exam 3 CHAPTER 8: MOTIVATING A SALES FORCE Motivation: the desire to expend effort to fulfill a need Dimensions - Intensity: amount of effort the salesperson expends on a given task - Persistence: how long the sales person will continue to put forth effort - Choice: salesperson’s choice of specific actions to accomplish job-related tasks - Direction: consistent with company’s strategic plan Challenge: Getting salespeople to expend effort on activities consistent with strategic planning of firm Importance of motivation: unique nature of sales job; individuality of salespeople; diversity in company goals; changes in market environment Motivational conditions: - Are the rewards worth the effort? Do they satisfy some need? - Does better performance lead to greater rewards? Does performance lead to rewards and what performance in required to get the rewards? - Does more effort lead to better performance? Are performance goals attainable? Hierarchy of needs (Maslow) Extrinsic rewards: come from others Intrinsic rewards: come from performing the task itself 1. Physiological needs Fulfilled through: food, shelter, clothing, health care Managerial action: provide/offer adequate income and good benefits package 2. Safety needs Fulfilled through: job security, safety, income security managerial action: provide safe work environment, set mutually agreed on performance standards, communication job performance expectations and consequences of failure to perform 3. Social needs Fulfilled through: affiliation, friendship, acceptance Managerial action: use team selling, hold social functions, distribute employee newsletter, hold sales meetings, establish mentoring program 4. Esteem needs Fulfilled through: status, recognition managerial action: recognize sales rep achievements personally and publicly through title changes, commendation letters, and promotions 5. Self-actualization Fulfilled through: self-development, challenge Managerial actions: provide/offer advanced training, assignments to special projects, more responsibility and authority Dual-factory theory (Hertzberg) Hygiene factors: company policies, supervision, and working conditions Condition of the work environment rather than the work itself Motivation factors: recognition, responsibility, challenge, and opportunities for growth Part of the job itself and must be present for the person to feel motivated Expectancy theory - Reward/effort evaluation : company rewards and incentives valued by one rep may not be valued by another because each rep is unique and has a different combination of needs What motivates your employees? Ranked by employees 1. Interesting work 2. Appreciation of work done 3. Being well-informed 4. Job security 5. Compensation 6. Growth and promotion opportunities 7.
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