Sales →
- 11 Aug 2011
- Lessons from the Classroom
Perfecting the Project Pitch
Entrepreneurs may be great innovators, but not necessarily great presenters. Associate Professor Thomas Steenburgh teaches them the fine art of product pitching. Key concepts include: Crafting a compelling product pitch can be a difficult process for entrepreneurs who have a technical, engineering, or non-sales background, or another non-sales discipline. A pitch can go awry when the presenter gets too wrapped up in details rather than concentrating on the central idea, or has not thought through the idea enough to really understand it. An audience will give presenters 60 seconds to capture their attention—then they tune out. A key for entrepreneurs pitching their plans is to show passion for the idea and for the audience. Open for comment; 0 Comments.
- 19 Nov 2010
- Working Paper Summaries
Do Bonuses Enhance Sales Productivity? A Dynamic Structural Analysis of Bonus-Based Compensation Plans
Companies generally pay their sales staff with some combination of salary, commissions, and bonuses for meeting quotas-with sales force costs averaging about 10 percent of sales revenue in the United States. This paper aims to gain insight into the most effective way to design a compensation plan, concentrating on whether bonuses boost sales productivity and whether they should be awarded quarterly or annually. Research, focusing on the sales force of a large office supply company, was conducted by Harvard Business School professor Thomas Steenburgh and Doug J. Chung and K. Sudhir of the Yale School of Management. Key concepts include: Bonuses do increase productivity. Quarterly bonuses increase sales force productivity more than annual bonuses. Sales people tend to give up when far away from reaching a quota, but they don't slow down once a quota is reached-especially if a firm offers commissions for overachievement. Closed for comment; 0 Comments.
- 15 Nov 2010
- Lessons from the Classroom
Connecting Goals and Go-To-Market Initiatives
In some respects, developing strategy is the easy part. Executing that strategy in alignment with strategic priorities is where real mastery of management takes place. Harvard Business School senior lecturer Frank V. Cespedes shows how it is done. Open for comment; 0 Comments.
- 30 Nov 2009
- Research & Ideas
Tracks of My Tears: Reconstructing Digital Music
Record labels have depended on album sales to boost profits. But in the digital music era, consumers prefer single songs over music "bundles." The result? Harvard Business School professor Anita Elberse says it is time for the industry to rethink its products and prices. Key concepts include: The unbundling of albums into a series of separately sold songs on digital music stores is hurting record label profits. Labels are less likely to get away with selling a bundle based on the strength of one or two tracks if the other songs are far less appealing. A strong artist reputation helps to curb the negative impact of unbundling. Labels might consider pushing for higher prices online and generally more flexibility in setting prices. Giving preference to quality over quantity and designing smaller, more consistent bundles may be beneficial. Closed for comment; 0 Comments.
- 08 Jun 2009
- Research & Ideas
The Return of the Salesman
Salesmen have received a bad rap over the years, but increasingly the profession is drawing scholarly interest. Business History Review coeditor Walter A. Friedman discusses the publication's recent themed issue on salesmanship. Key concepts include: Scholarly books on the history of salespeople began to appear more frequently beginning in the 1990s, with more recent work comparing 20th-century salespeople in Europe with those in the United States. In addition to comparative trends, research in this area attempts to place the story of the salesperson within the broader themes of history. Salespeople played a positive role displacing old products and promoting innovation. A strong sales force could also create a barrier to entry, as in the case of IBM. Negative portrayals have had lasting effects on the field. Closed for comment; 0 Comments.
- 19 Apr 2004
- Research & Ideas
Birth of the American Salesman
Modern sales management is a uniquely American story, says Harvard Business School's Walter A. Friedman, author of Birth of a Salesman. PLUS: Book excerpt. Closed for comment; 0 Comments.
- 27 Oct 2002
- Research & Ideas
Want a Happy Customer? Coordinate Sales and Marketing
In today's hyper-competitive world, your sales and marketing functions must yoke together at every level—from the core central concepts of the strategy to the minute details of execution. Harvard Business School professor Benson Shapiro on creating the customer-centric team. Closed for comment; 0 Comments.
- 22 Jul 2002
- Research & Ideas
Is Performance-Based Pricing the Right Price for You?
Not every industry or company can benefit from performance-based pricing. But where there is a fit, PBP can be a powerful tool that merges the interests of buyers and sellers, says Harvard Business School professor Benson Shapiro. Closed for comment; 0 Comments.
- 01 Nov 1999
- Research & Ideas
John H. Patterson and the Sales Strategy of the National Cash Register Company, 1884 to 1922
John H. Patterson's sales management techniques built National Cash Register into the dominant force in its industry and had a major impact on the development of modern selling. This excerpt from Business History Review looks at one aspect of the Patterson method. Closed for comment; 0 Comments.
The Most Powerful Workplace Motivator
When evaluating compensation issues, economists often assume that both an employer and an employee make rational, albeit self-interested choices while working toward a goal. The problem, says Assistant Professor Ian Larkin, is that the most powerful workplace motivator is our natural tendency to measure our own performance against the performance of others. Open for comment; 0 Comments.