by CourseAdvisor
The people who sell products and services are critical to every business's financial performance. Sales people come from a variety of backgrounds, and they work at many levels of the supply chain. Raw materials suppliers and components manufacturers sell to other manufacturers. Manufacturers sell products to wholesale distributors (and, sometimes, directly to retailers). Wholesale sales representatives sell to retail stores and dealerships. Then, retailers and dealers sell to consumers.
Check out these sales careers at different stages of the supply cycle:
- Retail Salesperson
- Sales Representative
- Sales Manager
Retail Salesperson
Retail salespeople work in stores and dealerships. Retail salespeople sell many different items, from clothing to automobiles, and sell directly to consumers. Their job is to assist customers with selecting and purchasing merchandise. Retail sales duties include:
- Describing and demonstrating products
- Making out sales slips
- Securing different types of payment
- Bagging or packaging purchases
- Handling returns and exchanges
- Taking inventory
- Stocking and pricing merchandise
- Arranging for deliveries
These were the median hourly earnings (including commissions) for various retail sales jobs in 2004:
- Automobile dealers: $18.61
- Building materials and supplies dealers: $10.85
- Department stores: $8.47
- Clothing stores: $8.17
- All retail employees: $8.98
Sales Representative
Sales representatives work at several stages of the supply chain. They may be wholesale distributors who sell to retailers or the manufacturers' representatives who sell to the wholesalers. Other sales representatives sell professional services, real estate, securities, and other items directly to individuals and businesses. Sales engineers are sales agents with engineering backgrounds who specialize in selling scientific instruments, computer technology, and other technical products. Some representatives work for single businesses. Others work as agents who sell a spectrum of related products for several different suppliers.
Regardless of the products or services sold, the sales cycle includes these general steps:
- Prospecting for new customers
- Meeting with customers to establish rapport and learn about their needs
- Presenting products and services that meet customers' needs
- Addressing customers' concerns or objections
- Persuading customers to make a purchase
- Negotiating prices
Sales representative careers often include long hours and traveling to meet with established and prospective customers. Sales reps typically need to meet company sales goals or quotas. Their earnings may consist partially or solely of commissions. Fortunately, many successful sales reps have a knack for making sales and think of the sales pitch as an exciting challenge.
Generally, an associate degree or bachelor's degree in business or sales is a good background for sales representatives. Sales engineers usually have engineering or technical backgrounds in addition to sales training.
In 2004, typical median annual earnings of sales representatives and sales agents, including commissions, were:
- Sales representative, wholesale and manufacturing: $45,000–$59,000
- Advertising sales agent: $40,000
- Insurance sales agent: $42,000
- Sales engineer: $71,000
- Securities, commodities, and financial services sales agents: $69,000 (average)
- Travel agents: $28,000
Sales Manager
Sales managers direct their company's sales programs and supervise sales representatives. In large companies, high-level sales managers may supervise regional and local managers.
Sales managers' responsibilities include:
- Assigning sales territories
- Setting sales goals
- Implementing sales training programs
- Maintaining relationships with dealers and distributors
- Analyzing sales statistics
- Developing selling strategies to maximize profits
Companies fill most sales managers jobs by promoting qualified sales representatives. A bachelor's or master's degree in business administration (MBA) is a good educational background for these positions. Courses in business law, economics, accounting, finance, mathematics, and statistics are also helpful. In computer and electronics manufacturing as well as other technical industries, employers may look for a technical bachelor's degree combined with an MBA. The median 2004 salary for sales managers was about $84,000. However, salaries vary by industry.
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Source: Occupational Outlook Handbook, 2006-2007 Edition; Bureau of Labor Statistics, U.S. Department of Labor.
