This brings us to the end of the module under this course. Congratulations. You have finished the fourth course in this specialization. Well done. We began with a sales forecast and showed some approaches to calculating a forecast. Unlike other planning processes that are based on consistent factors, sales planning is subject to continual change related to a forecast as the sales budget, and we explained what is a sales budget and how a sales manager calculates a sales budget. Designing an effective sales budget requires a careful analysis of target markets, competitors capabilities, prevailing economic trends, and past sales figures, just to name a few variables that could affect potential profits. Next, we covered designing sales territories. Sales territory management is very important and we showed you two approaches to developing a sales territory. After this, we covered sales performance evaluation. This is where a sales manager must analyze their sales performance, we talked about analysis of sales revenue and sales expenses. Finally, we concluded the course with covering the legal and ethical issues facing sales managers. Effective selling requires more than an ability to communicate a product's features or benefits. Sales representatives must also develop quality relationships with their customers. Regardless of a company's reputation, customers choose to do business with people they trust. Sales representatives have to earn that trust by behaving ethically and conveying a commitment to serving customer needs. Since we are summarizing what we accomplished in the fourth course, let's take a minute, and briefly review the other courses in this specialization. In the first course, we gave an overview of the sales management function as well as discussion on strategic management and planning of the firm and how sales fits into that picture. We covered the skill sets required of sales managers and the challenges facing sales managers. We also reviewed the basics of personal selling. The second course covered sales force design and the recruitment aspects of sales management. As part of that, you learned about three important documents: the job analysis, the job description, and the job qualification statement. We also covered the recruitment process as well as the sources for recruiting salespeople, and finally, the third course covered sales force compensation and setting sales force goals or quotas. A sales quota is a performance goal set for a period of time. Quotas are tied to compensation and frequently used in calculating bonuses and other forms of incentive compensation. We also covered the management of sales force expenses. So, congratulations. Congratulations on a job well done, and now, you are ready for the capstone project. Go for it.
