Do you dream of owning your own business someday, or working for a company in a leadership position? Wherever your path may lead you, having the essential knowledge of business types, requirements to start a business, understanding of finances, business law, marketing, sales, customer service, and more, will ensure you’re on the path to success. Let’s explore your passion for business in this course.

Unit 1: The Basics of Business

The phrase ‘running a business’ makes something incredibly complex sound very simple. A good business needs dozens of elements to work together in order to be successful. Understanding the way a company’s structure is set up can give you a lot of information about the business itself. It’s a key skill for anyone who hopes to work for, or even start, a company in the future. In other words, almost everyone can benefit from learning about this topic.

What will you learn in this unit?

• Create and understand business plans and explain why they are so important

• Explain the different functions required to operate a business

• Recognize the importance of information and communication technology in a business context

• Distinguish different types of businesses and understand what’s needed to start one

Unit 2: The Finances of Business

Financial planning is crucial when it comes to running your own business. If you want your business to make a profit, then being able to grasp ideas like running costs, expenses, and margins is key. It may all sound a little complicated, but it is pretty logical when you get down to it. We’ll start with covering the basics of accounting, as well as how to budget. Once you’ve mastered the basics, you can begin to think strategically and consider how you might benefit from the financial products on offer to a business owner. You might think that finances are a little tedious, but by the end of this unit, hopefully, you’ll see that no business can succeed without a strong understanding of its finances.

What will you learn in this unit?

• Describe and understand the accounting cycle

• Outline and understand a business risk assessment

• Investigate business costs and how to budget for them

• Evaluate different types of business insurance products and when they should be used

• Differentiate between types of financial institutions and the products they can offer

Unit 3: Marketing and Sales

Can you imagine what would happen if a business couldn’t sell anything? They wouldn’t be around for very long, that’s for sure. What helps a business the most is making sales, and in this unit, we’ll cover not only why they are so important but also how you can use marketing to help increase the number of sales a business makes in the first place.

What will you learn in this unit?

• Assess how marketing fits into the business plan

• Demonstrate your knowledge of market research, including demographics and targeted marketing

• Differentiate different marketing tools and classify the pros and cons of each

• Identify opportunities for innovation in marketing

• Explain the impact of sales as a part of business

Unit 4: Ethics and Business Law

No one wants to end up breaking the law, especially in business. Nevertheless, it can be very easy to do if you aren’t familiar with the laws and regulations that business owners must abide by. Thankfully, there is a lot of useful information available, and this unit will provide some guidance, not only on how to remain compliant with the law but also on how to run a business ethically to ensure you’re taking proper care of your employees. Businesses that function ethically have happier, more productive employees, and in return, you as a business owner may well see larger profits.

What will you learn in this unit?

• Analyze the effects that different aspects of the law can have on a business

• Identify sources of business crimes and strategies that can be used to prevent them

• Describe the legal requirements for running a business, including employment and labor laws

• Discuss why a business should be run ethically and the benefits this has for employers and employees alike

• Investigate how the use of data and technology by a company and its employees can create legal problems for the company

Unit 5: Computer Hardware

For just about any business today, computers are essential. Whether they are used for emails, your company website, digital image editing, or even to store all of your customer information, computers form an integral part of the day-to-day functions of most companies. Therefore, it’s important to understand not only how computers work but also how to get the most out of them and to ensure their longevity through proper maintenance. Computers can also be used across a network to facilitate the fast trading of information and access to very complex applications. Understanding how computers communicate and how a basic network functions will ensure you know how to set up your computer network in the way that suits your company best.

What will you learn in this unit?

• Identify what hardware you need to begin your business

• Differentiate between several types of computer networks and explain what each is used for

• Compare the key uses of hardware and software

• Plan maintenance and upgrade tasks typically undertaken in a business environment.

• Investigate how to choose the right technology to fit a company’s needs

Unit 6: The Internet and Business

Just imagine what you could do if you had all of the world’s information at your disposal. It seems a bit like a fantasy. Surely you can’t get access to all of the knowledge that we have as a species. Perhaps not, but technology has brought us much, much closer to this through the use of the internet. There is so much information out there for us to discover that it’s become more and more important to understand how it all works. Throughout this unit, you will learn about the fundamentals of the internet and how it operates, how it can be accessed, the applications and tools used to make the most of it, and how to find and filter information effectively. The internet is different from many other types of networks, and being able to create content for it is key for a business in this day and age. Therefore, making the most of the internet is essential for anyone hoping to have their own company one day.

What will you learn in this unit?

• Discuss how the internet functions and compare this with other types of networks used in business

• Utilize internet terminology and the web to take advantage of what websites can do for business

• Create effective internet searches and define internet search modifiers

• Explain the advantages of using web applications in business organizations

• Investigate ways to create the most effective internet searches

Unit 7: Web Design and Business

Online business is a very lucrative way of earning income for a business, but it requires a well-thought-out site with good content and eye-catching presentation to invite customers to visit and keep coming back. Understanding how to properly plan and implement a site, including utilizing features and graphics, is key and can be the difference between a successful site versus one that drives customers away. You should be encouraged to know that there are great resources available, and with careful implementation, even a first-time business owner can create a fantastic website!

What will you learn in this unit?

• Explain different types of websites and be able to identify which to use for a business

• Plan the creation of a website from its initial concept to the delivery of the final product

• Select appropriate web editors and coding languages to build and enhance a website

• Demonstrate understanding of website design including color theory

• Evaluate the effectiveness of graphics and animations in grabbing the attention of visitors to a website

Unit 8: Operating Systems and File Management

It’s easy to underestimate the crucial role that an operating system plays in our computer. Whether you’re installing software like browsers or word processors, or even your favorite PC game, none of that would be possible without an OS. There are several different operating systems, each of which comes in different versions, but they all fulfill the same function: they provide the foundation on which the software we use daily is built. Without an OS, you wouldn’t be able to open Gmail to read your email or run Word to complete that proposal you’re writing to get your startup company going.

What will you learn in this unit?

• Describe the history and use of operating systems

• Safely create and move files in an operating system

• Correctly and efficiently name files under best practices used in business

• Safely store files while preventing data loss by creating backups

• Transfer, download, and save data to satisfy business standards

Now that you have the basics of business down from the previous course, it’s time to become better acquainted with the application of information management in business. Learn about professional conduct, teamwork, and managerial skills, while also examining careers in business technology. The basics of word processing, spreadsheets, databases, and presentation software are also explored so that you become better prepared for jobs in this field.

Unit 1: Workplace Communication and Business

Communicating with others is a cornerstone of life. Be it chatting to friends, arguing with parents, or even listening to music, it’s all communication, but there’s more to communication than words. Being conscious of what and how you communicate with others is never more important than it is in the workplace, and this includes how you speak, how you behave, and more.

What will you learn in this unit?

• Distinguish verbal from non-verbal communication, as well as the different ways each form of communication is expressed

• Explain the importance of communication in the office or workplace

• Communicate effectively in a team

• Examine the ways communication can be used to resolve conflict

• Assess the use of project tools to manage projects and facilitate communication

Unit 2: Communicating by Email

Despite the ceaseless rise in popularity of social media networks, email remains a staple of communication. In other words, as far as business is concerned, there is no communication without email, and there won’t be for a long time. Because of this, it’s important to know how to “do it right.” Knowing how to write good emails is a necessity when working for a business. This means that you must be able to communicate clearly and take advantage of the tools available to optimize your use of email at work.

What will you learn in this unit?

• Write and phrase business-appropriate messages to clients and co-workers

• Work with different types of attachments and files

• Manage your incoming mail, including spam and junk

• Configure email settings to make your processing of email more secure and efficient

• Assess the use of email in conjunction with additional communication tools

Unit 3: Word Documents in Business Communication

When it comes to communication, the written word is one of the strongest assets we have. Business communication and private communication alike strongly depend on us knowing what to write and how to write it. However, nowadays that comes with a caveat. Since people tend to prefer electronic communication to hand-written letters, they require some tech skills along with the ability to write. Word processing software, cloud storage, and shared documents—it’s a package deal now.

What will you learn in this unit?

• Recognize and create a variety of important business documents

• Examine the use of different elements to create effective written documents in Word

• Assess basic design elements used to create visually appealing documents

• Publish and share written content in a business setting

Unit 4: Communicating Using Spreadsheets

Communication comes in many different forms, and not all of them are spoken—you can even use spreadsheets to communicate. In business, exchanging files is, of course, commonplace, and spreadsheets form a big part of that exchange. They are a convenient way to collect, track, and report data, and because of this, they are used to carry out a wide variety of tasks, from creating charts to reporting budgets. Information can be shared in many different ways, and the rows and columns of spreadsheets are a popular choice.

What will you learn in this unit?

• Examine the use of spreadsheets in business

• Identify the ways to input data into a spreadsheet

• Investigate the use of basic formulas and functions to perform calculations

• Compare the use of charts, sparklines, and graphs

• Analyze, manipulate, and share data in a business context

Unit 5: Creating and Using Databases in Business

Data comes in many forms, of course, and one of the easiest ways to store data in bulk is to collect it in a database. In essence, databases are tables in which information is stored in rows and columns that group together similar or identical pieces of information or duplicates to make it easier to view. Databases are just about everywhere: they exist behind the scenes on websites, and they even form part of the software that makes your phone work!

What will you learn in this unit?

• Compare the use of database software like Excel and Access

• Create and set up simple databases

• Manipulate and understand the relationships between tables

• Explain the basics of data mining

Unit 6: Communicating Using Slide Presentations

While you could be forgiven for thinking of communication as primarily being something that occurs between two individuals, this is not always the case. It can also take place between one person and a group, which often occurs when a person delivers a presentation or something like a talk delivered at a conference. Teachers usually teach in groups, too. Regardless of who the participants are, however, there are tools available to make this type of communication easier for everyone to follow, and that is exactly what we will cover in this unit.

What will you learn in this unit?

• Create PowerPoint presentations

• Effectively communicate with a group in a business environment

• Edit, manage, and create slides for presentations

• Efficiently utilize presentations in business situations

Unit 7: Careers, Businesses, and Organizations

Just when you think you know it all, there’s more. In addition to learning how to use business tools, there are a few more things you need to know to succeed in a business environment—that is, skills that are a little harder to pick up because there isn’t exactly a tutorial for them. Sure, you know spreadsheets, but there’s a tutorial for that. You can take a course to learn about spreadsheets and databases. But what do you know about working on a team? How well do manage your time? These skills are some of the “more” you need to know about. They represent different skills than the kind we’ve discussed so far, but that doesn’t mean you can’t acquire them. We’ll teach you some of the most important ones in this unit.

What will you learn in this unit?

• Explain interpersonal skills and how to use them to your advantage

• Describe the importance of time management, dependability, and a positive attitude

• Inform others about the advantages provided by professional and student organizations

• Identify potential career plans and career options in the field of business technology

Unit 8: The Future of Business Technology

It’s pretty difficult to deny that technology is the future. Innovations and inventions hit the market nearly every day, and while a lot of them have little if any use for you, and many don’t even have a future in the marketplace, the trend to find new solutions to old problems via the use of technology is strong. Simplifying tasks, be they personal or business-related, is something that we as a species will continue to strive towards, so you as a student should do your best to keep up with the trends!

What will you learn in this unit?

• Explain the impact that technology has on business

• Assess innovative technological ideas as prospective solutions to business problems

• Compare a variety of software tools used to create efficient resolutions in business

• Practice safe, responsible, and appropriate use of social media sites

Discover the fundamental knowledge that will help you pursue a business career, as well as always generate interest and buzz around the products and services offered. Explore different types of businesses and ownership forms, the impact of governments on business, and the marketing of goods and services. Learn about globalization, free trade, and various economic systems, as well as the impact of technology on business, business ethics, and social responsibility.

Unit 1: Fundamentals of Business

Did you know that more than 98 percent of businesses are classified as small businesses with less than 100 employees? Of course, the most successful of these business owners are those who understand the role of business in our society, clearly define the goals of their new enterprise, and create a solid strategy for long-term success. Just as an architect creates a blueprint before construction begins, the thoughtful business owner will create management and operational blueprints that position the new business to thrive in our competitive economy. Whether the business is a sole proprietorship or a large multinational corporation with thousands of employees, success depends on a solid foundation capable of withstanding economic challenges and competition that can shift with agility to get ahead of changing consumer behavior. Soon, you too will be prepared to recognize the importance of knowing what to expect before your grand opening!

What will you learn in this unit?

• Identify the role of business in society

• Explain the different types of businesses

• Differentiate among types of business ownership

• Compare organizational and structural functions of business

Unit 2: Classifications and Types of Business

Have you ever thought about how a bag of chips gets to your local grocery store? Or where the potato chip factory gets the potatoes or the bag? Or who delivers the chips to the store? It takes a surprising number of businesses to create everyday products and many services to get them to your door. Fortunately, the United States supports an economic climate that is very favorable for businesses and that benefits the economy. Whether providing goods or services, this country depends on entrepreneurs to provide an endless variety of businesses to keep the economy strong.

What will you learn in this unit?

• Classify types of businesses that market goods and services

• Identify types of retailers and suppliers

• Explain the significance of free enterprise

• Describe the role of wholesalers

Unit 3: Economics of Business Part I

How does a business know how much to charge for a product or service? There are a lot of elements that need to be considered when determining pricing. In a tightly controlled economic system, the government sets all prices. In others, retail business owners have to figure it out for themselves. In this case, there is a lot to consider, like how much the manufacturer charged the retail store for the product, the cost of shipping and packaging the product, and the gradual costs associated with keeping the product in their inventory until it is sold to the consumer. Still, factoring in all of the variables does not guarantee success; market and consumer demand are always changing. It is really important to understand how all the various factors impact each other and how to keep the price just right.

What will you learn in this unit?

• Describe the concept of economies and economic systems

• Differentiate among economic systems

• Explain the principles of supply and demand

• Identify the function of prices in the market

Unit 4: Economics of Business Part II

Titus Maccius Plautus, a Roman philosopher, is generally credited with making the statement “you have to spend money to make money” more than 2,000 years ago. No matter how self-starting and motivated you are, all businesses will have expenses. While the future success of a financial venture is not perfectly predictable, proper planning can help minimize potential losses and errors. You need to understand the different kinds of expenses, not to mention how and why they vary. Part of spending or investing money wisely is also making sure that you have the best people managing those businesses and investments. Savvy business owners will know how to attract top workers with both good wages and solid benefits. Happy, productive employees should be everybody’s goal!

What will you learn in this unit?

• Discuss factors impacting business profit, revenue, and expenses

• Explain elements that impact profit

• Analyze the benefits of specialization of labor

• Demonstrate the benefits of division of labor

Unit 5: The Role of Ethics in Business

Warren Buffett, one of the most successful business leaders and investors in the United States once said, “in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you.” In short, he is expressing the widely-held understanding that a positive and ethical environment is essential to any successful business. Ethics in business may include everything from having clearly defined expectations for behavior, to keeping clear lines of communication, and building a sense of doing what is best for your employer and colleagues. This sense of responsibility also extends to the greater community in which the company operates; this is where sustainability comes in. When businesses think about how they can benefit the environment, their employees, and the customers, we all benefit.

What will you learn in this unit?

• Define and distinguish ethical practices in business

• Recognize and respond to ethical dilemmas

• Compare and contrast moral and legal issues in the workplace

• Analyze the benefits of sustainable practices

Unit 6: Global Impact on Business

International trade has a deep history dating back to the Silk Road in 130 BC. Today, trade with foreign nations is often a source of concern in the United States. Following the end of World War II, the United States took the lead in developing international trading policies and today has trading agreements with nearly one-third of all nations on the planet. Though much of the discussion in Washington, D.C., focuses on fears that a deficit—importing more goods and services than we export—costs American jobs and threatens our economy, that is not a completely accurate assessment. As sixth-century English poet John Donne wrote, “No man is an island.” The importance of global trade and our relations with other nations today only underscores this belief.

What will you learn in this unit?

• Debate and evaluate the importance of international trade to the US economy

• Critique the role of business in a global society

• Compare domestic and world trade

• Analyze the impact of imports and exports on the US economy

• Critique the benefits and drawbacks of protectionism including tariffs

Unit 7: The Role of Government

Can businesses in a free market do whatever they want? Not quite. There are many ways businesses are limited by local, state, and federal regulations, even in nations that are very supportive of business. There is a constant debate about the need for any regulation in a free market economy among legislators, government regulators, business owners, and consumers. Many responsible for building and protecting a strong economy will argue that some level of regulation is necessary to protect that free market economy driven by supply and demand. Other equally knowledgeable people will argue that left to function as a true free market, consumer decisions will drive a steady and sturdy economy. Whether business owners support or decry regulation, running a responsible business is not just about following the laws. It also requires recognizing and preparing for risks, which are part of running any business.

What will you learn in this unit?

• Determine the relationship between government and business

• Differentiate among the roles of government in business

• Articulate the role of organized labor

• Analyze different types of risk

Unit 8: Data and its Growing Importance on Business

Technology and business go hand in hand. Both are evolving to better serve consumers, but this also adds additional responsibilities for businesses, which are now responsible for keeping their client’s information safe online. Technology and the internet also change the ways that businesses and consumers interact; companies can learn a lot about their customers by examining consumer behavior online. Similarly, there is a lot that data can tell businesses about their internal workings and how to streamline processes. It all depends on using technology well.

What will you learn in this unit?

• Evaluate and critique information literacy skills implemented to improve productivity in the workplace

• Identify the ways technology impacts business

• Discuss the significance of data mining for businesses

• Articulate appropriate security and privacy practices in business

Take your knowledge of business basics, finance, and marketing to the next level. Learn how to create a marketing strategy that promotes and attracts customers to sell a product or service. Explore important basics of business finance, including accounting, budgeting, and investing. Learn what careers are available in business and the important employability skills you’ll need to ace the interview and land the job!

Unit 1: Marketing

All businesses need to consider the customer experience, and marketing puts this thought into action. It is all about drawing customers in and keeping them loyal to the business. Since products exist to fill needs, marketing helps business owners figure out which customers are best served by their products. Then it lets the public know what it has to offer. But marketing is also anticipating needs and understanding how customers make decisions. Good marketing can boost business, so even small businesses can benefit from a little marketing savvy.

What will you learn in this unit?

• Illustrate the function of marketing

• Discuss the importance of marketing in the global economy

• Demonstrate the relationships between marketing and other elements of business

• Explain the meaning and significance of the marketing concept

Unit 2: Market Segmentation

Reaching the right consumers is an important part of marketing, but how does a business know who they are? That’s where market research comes in. There are many ways to divide the population into those who are likely to buy a business’s product and those who are not. Or maybe it is a product that almost everyone needs, so mass marketing is the way to go. Regardless, once a business understands exactly which customers it is trying to attract, it can target the right people and spend its marketing dollars wisely.

What will you learn in this unit?

• Recognize elements of marketing

• Identify and analyze target markets

• Differentiate between targeted and mass marketing

• Compare methods of defining target markets

Unit 3: The Marketing Mix

Marketing does not do businesses much good until it reaches the public, and that is where strategy comes in. Once a target market is identified, the next step is to bring these customers to the business’s door or website. This takes thoroughly understanding the product, considering the right promotion, knowing how to get the product to the customer, and finding the price that maximizes profit. These steps are the 4Ps of marketing and what it takes to get the message out to the public – ready to dive in?

What will you learn in this unit?

• Create an effective marketing mix

• Identify effective marketing strategies

• Discuss the 4Ps of marketing and their components

• Differentiate between marketing goods and services

Unit 4: Principles of Money

When it comes to finances, businesses need to know the basics. After all, everything from the types of payments a company accepts to how transactions are structured will impact the bottom line. But there are also many external factors, such as interest rates and lending laws, that shape how businesses can obtain and extend credit. Not only do they need to comply, but understanding different ways to access credit can help a business choose the method that best meets its needs.

What will you learn in this unit?

• Identify types of currency

• Evaluate forms of financial exchange

• Discuss the importance of credit

• Identify appropriate circumstances for using credit

• Recognize the legal obligations associated with financial exchange

Unit 5: Basic Financial Management

Businesses are not the only ones who need to manage their money! Individuals also need some financial savvy to make sure that their money is properly managed. Even something as basic as a paycheck contains valuable information to help you understand where your dollars are going and how much you are paying in taxes. But don’t worry, together we can break this down, learn how to create a budget, and keep your finances on track!

What will you learn in this unit?

• Explain income

• Interpret a pay stub

• Prepare a basic tax return

• Compare different banking services

• Develop a personal budget

Unit 6: Business Finance

Keeping track of finances is one of the most important tasks of all business owners. Not only do businesses need to stay profitable, but they also need to be able to anticipate their financial futures. That is where accounting comes in. Being able to read a few basic reports reveals a lot about where a business is financially. Many businesses will also have investments, and these can be a great way to bring in additional revenue and secure a solid financial future.

What will you learn in this unit?

• Explain the role of finance in business

• Articulate the concept of accounting

• Analyze balance sheets and income statements

• Differentiate among types of investments

• Determine how to find the right financial advisor

Unit 7: Basics of Finance

Getting a job is an important step in building a career, but what does it take to land one? Being professional begins well before your first day of work. There are opportunities throughout the application process to demonstrate the skills that employers are looking for and ways to build them before you hit the job market. Communicating effectively and working well with others are among the top skills that employers want to see, and now is a great time to practice them!

What will you learn in this unit?

• Recognize and demonstrate professional behavior

• Articulate and follow company policies

• Collaborate effectively to accomplish a task

• Demonstrate time management skills

Unit 8: Business Careers

Thinking about your career can be daunting. Fortunately, business, finance, and marketing present a lot of options. No matter what your skills and interests are, there is probably a career to match! And, since one of the keys to a successful career is having a plan, now is a good place to start thinking and considering your many options. Of course, there are many resources to help you explore careers, and once you know what your goals are, the path becomes much clearer.

What will you learn in this unit?

• Explore the skills and experiences that benefit entrepreneurship

• Evaluate different jobs in business, finance, and marketing

• Assess personal job skills

• Develop a career plan

• Set SMART goals

Explore the fast-paced and exciting world of marketing! Learn about the role of marketing in business in addition to the basics of business management, customer service, and economics. Examine how to identify target markets, perform market research, and develop successful marketing strategies. Discover the legal and ethical considerations of business and marketing, along with the impact of government on business.

Unit 1: Foundations of Marketing

Why is it that some people always buy products from the same brand? Or spend hours waiting in line every time the latest iPhone comes out? It all comes down to marketing. Without it, most of the businesses you’re familiar with wouldn’t exist. You would never hear about their latest products or services, visit their stores, or develop loyalty to their brand. Marketing not only allows businesses to grow, but also it helps customers get access to better products and services. By looking at how companies use marketing to reach customers, you’ll begin to understand why certain brands become more popular than others, and why some never quite catch on. You’ll also understand how purple cows tie-in to everything. Wait… purple cows!? Didn’t see that coming, did you? With marketing, you never quite know what’s around the next corner!

What will you learn in this unit?

• Identify and explain the four foundations of marketing

• Differentiate among the three basic categories of consumer goods

• Recognize the role of marketing in a free enterprise system

• Explain how brands use market segmentation to reach the right people in a market

• Understand how businesses use the SWOT framework to identify internal and external factors affecting their brand

Unit 2: The Role and Function of Marketing in Business

The world of business has evolved significantly in a relatively short amount of time. Consumers have become smarter, technologies have changed, and the number of competitors has increased. Think about the number of ads you see each day on TV, Facebook, billboards, your smartphone, Google… they’re everywhere! Marketing plays a huge role in business. Because of this, companies large and small can zero-in on certain groups of people to become potential customers. They can also create highly specific marketing messages to capture customers’ attention—and their wallets!

What will you learn in this unit?

• Explain the different marketing functions

• Elaborate the major fields of business activity

• Identify the marketing concepts and their impact on the economy

• Describe the nature and scope of marketing

• Differentiate marketing and merchandising of products and services

Unit 3: Marketing and Economics

Economics and marketing are two sides of the same coin. While marketing aims to understand what makes people buy products or services, economics looks at all the rules that make our economy work. Marketing is similar to an engine in a car as it allows businesses to move forward and get to their destination. The economy is like the driver—it controls the amount of power, or output, the engine generates and makes sure all speed limits and rules are followed. Just as a car needs a driver, marketing likewise needs an economy in which to operate.

What will you learn in this unit?

• Demonstrate an understanding of basic economic concepts, economic systems, cost-profit relationships, economic indicators and trends, and international concepts

• Explain concepts of economic goods and services

• Identify the major types of economic resources and explain the importance of each to marketing

• Distinguish between various economic systems and the effects on what will be produced, how it will be produced, and for whom it will be produced

• Identify components of Gross National Product (GNP) and Gross Domestic Product (GDP)

Unit 4: Business Ownership and Government Regulations

Owning a business is one of the hallmarks of the American Dream. We’ve all seen movies where business owners enjoy a lavish lifestyle, have a massive fleet of cars, and take exotic vacations. But is that how things are in the real world? The truth is, that running a business involves a lot more than what you may have seen in the media. There’s a lot of paperwork involved, rampant competition, and many government regulations to follow. If you’ve ever wondered what it’s really like to run a business in a modern economy, it’s time to find out!

What will you learn in this unit?

• Explain the relationship between government and business

• Identify, explain, compare, and contrast the different types of business ownership

• Evaluate governmental and trade regulations affecting business and marketing efforts

• Outline steps in planning a new business

Unit 5: Legal Issues and Ethics

Creating a marketing campaign involves a lot more work than you may think. Besides the creative aspect of creating ads and marketing messages, there are several legal and ethical issues that marketers need to study before unveiling awesome products or services to the world. Understanding each of these issues will not only help you create more effective marketing campaigns, but it will also help you discover how to keep your customers happy. (And how to save your company from huge fines!) Time to spread your wings and fly, Legal Eagle!

What will you learn in this unit?

• Discuss ethical issues in business as they relate to marketing

• Recognize legal and ethical considerations in promotion

• Analyze the role of ethics as it relates to marketing information management

• Evaluate legal and ethical considerations in the distribution process

Unit 6: The Impact of Finance on Marketing

The study of marketing wouldn’t be complete without covering financial concepts. Finance is what keeps the marketing department running, and it’s the reason companies can afford to spend money on ads and other cool marketing initiatives. The best part about it all is that you don’t have to know complicated math equations to understand how finance works. Chances are, you already know more about finance than you think!

What will you learn in this unit?

• Explain the nature and scope of finance in marketing

• Describe the difference between business finance and customer credit

• Explore the various types of financial records that should be analyzed in making marketing decisions

• Identify various types of credit policies and procedures

Unit 7: The Importance of Market Research

A big part of launching a new product or service into the market is finding out what users want in the first place. The last thing companies want to do is invest millions of dollars into a new idea only to find out that people don’t really need it in the first place. A simple way to prevent this from happening is to use market research. This type of research is similar to the type of research you would do for one of your classes, except it focuses on the needs of customers rather than the subject your teacher assigns you. By understanding how market research works, you’ll move one step closer to becoming an expert marketer. And if you know how to use the internet to do a search, then you’re already halfway there!

What will you learn in this unit?

• Trace the steps in designing and conducting research

• Compare and contrast tools for conducting and analyzing marketing research

• Explain the use of descriptive statistics in marketing decision making

• Identify the trends and limitations in marketing research

Unit 8: Marketing Concepts and Plans

Do you know the difference between a marketing strategy and a marketing plan? What about a marketing mix? Or a situational analysis? If you answered no to any of those questions, then it’s time to finally get the answers! Learning these basic concepts will be like learning your ABCs all over again. Once you learn them, you’ll be able to master advanced marketing concepts and communicate like a true marketing professional.

What will you learn in this unit?

• Develop a marketing campaign and write a marketing plan

• Employ processes and techniques to develop, maintain, and improve a product/service mix to utilize market opportunities

• Implement the concepts, systems, and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making business marketing decisions

• Explain the concept of marketing strategies

Great marketing strategies can be powerful. Every year companies spend approximately $200 billion promoting their products and services – and that’s just in the United States alone! Explore how marketing campaigns, ads, and commercials are brought to life and meet some of the creative folks who produce them. Learn about different marketing career opportunities and discover ways to be part of this exciting, fast-paced industry.

Unit 1: Introduction to Advertising

How many different advertisements do you think the average person views on a daily basis? Ads are in magazines, on the radio and television, and even sent to us via email and text message. Living in modern-day society, it’s difficult to ignore the fact that ads are everywhere. In fact, advertisements have become so common that sometimes we tend to tune them out altogether. Because of this tendency, advertisers have to be more creative today than ever before, building bold ad campaigns that are impossible to ignore. In this course, you’ll be exploring the ins and outs of the advertising industry, including its history, the role it plays in our society, and the ethical and legal issues related to advertising.

What will you learn in this unit?

• Distinguish among marketing and advertising terms.

• Categorize business activities, such as production, management, and finance, and describe how these activities relate to marketing.

• Describe the history of the advertising industry and its relation to today’s marketplace.

• Discuss laws regulating the marketing and advertising industries.

Unit 2: Advertising in the 21st Century

Have you ever looked at the ads in an old newspaper? These ads were once small black-and-white columns in newspapers that did little more than describe the product for sale. The industry has come a long way since then, and it continues to evolve. In the 21st century, advertisers face the challenge of marketing to a diverse, global society with ever-changing interests, preferences, and values. In this unit, we’ll look at how advertisers are meeting those challenges. In particular, we’ll look at how the global marketplace, cultural diversity, and technology (especially the Internet) have changed the way marketers deliver their messages. We also look at how marketers have developed the relatively new market of women sports fans.

What will you learn in this unit?

• Describe the influence of international marketing on the advertising industry.

• Explain the impact of multiculturalism and multigenerationalism on advertising marketing activities.

• Identify the importance of understanding cultural diversity from a marketing perspective.

• Discuss how diversity affects sports and entertainment marketing.

Unit 3: Careers in Advertising, Promotions & Marketing

Did you know that nearly half a million people are employed by the advertising, promotions, and marketing industry in the United States alone? Who are these people? What is it like to live a day in their shoes? There are many possible answers to these questions. The industry is so large and the work so complex that it takes many different types of workers with varying skill sets to accomplish the goals of advertising and marketing agencies and teams. In this unit, you’ll learn about some of the most common career paths in this field and get a feel for what it’s like to do the jobs held by advertising and marketing professionals.

What will you learn in this unit?

• Discuss careers in the advertising and marketing industry.

• List the roles and responsibilities of various advertising, marketing, and promotions professionals.

• Explain the necessary education and training required for careers in the advertising and marketing industry.

• Identify the expected wages and salaries for jobs in the advertising and marketing industry.

Unit 4: Finances in the Advertising, Marketing & Promotions Industry

Ask any small business owner or Fortune 500 CEO, and he will tell you that finances are one of the most important aspects of any business. No business decision—whether related to marketing, operations, human resources, or any other aspect of the company—can be made without carefully considering its financial implications. In this unit, you’ll learn the basics of finances as they relate to the advertising, marketing, and promotions industry.

What will you learn in this unit?

• Identify sources of financial assistance for raising capital.

• Describe how businesses make purchases.

• Differentiate between buying for resale and buying for organizational use.

• Identify and describe types of financial documents used by businesses and agencies.

• Explain the purpose of financial records, such as budgets, balance sheets, and income statements.

• Discuss the relationship of perishability to profit and loss.

Unit 5: Working in the Advertising, Marketing & Promotions Industry

If you want a job in the advertising and marketing field, you’ll need the skills! But what skills do you need? In this unit, we’ll look closely at the interpersonal skills valued in this industry. We’ll also discover what employers in this industry expect from marketing, advertising, and promotions employees, and how you can expect to be treated as a professional in this field. As you study, keep in mind that many of these principles apply to a wide variety of other career choices as well, so learning about them will prove valuable even if you don’t plan to pursue work in advertising and marketing. As an added bonus, the interpersonal skills you learn here can also help with relationships in your personal life!

What will you learn in this unit?

• Identify and describe the interpersonal skills necessary for a successful career in marketing and advertising.

• Identify the role of professional organizations, trade associations, and labor unions in the advertising industry.

• Illustrate how teams function and describe team-building skills.

• Distinguish between the roles of team leaders and team members.

• Identify employers’ expectations and appropriate employee work habits.

• Define discrimination, harassment, and equality.

• Identify characteristics of good leaders.

Unit 6: Behind the Scenes, Technical Skills Necessary for a Career in Marketing

What comes to mind when you think of what it takes to be an exceptionally good marketer? While some natural talent in the area certainly doesn’t hurt, still, certain skills have to be learned to succeed in this field. Marketing is a field that is constantly growing and changing. We’ve already explored the ways in which technology is changing the role of marketers. In this unit, we’ll revisit the topic to identify the specific technical skills today’s marketers need to compete in a high-tech global marketplace.

What will you learn in this unit?

• Identify and describe types of persuasive rhetoric.

• Explain the characteristics and purposes of a marketing information system.

• Describe types of inventory control and how they relate to marketing.

• Explain the steps of the consumer decision-making process.

Unit 7: Principles of Selling

Advertising is just one part of a company’s marketing and promotions strategy. Personal selling is often one part of a company’s promotion mix. In this unit, we’ll examine this promotional strategy in more detail. You’ll learn when personal selling is an appropriate technique to use and how to implement it effectively. You’ll also learn about how selling impacts the overall economy of the United States.

What will you learn in this unit?

• Discuss the purpose and benefits of personal selling.

• Explain lead generation and lead qualification.

• Explain the five steps of selling.

• Identify the importance of following up after the sale is closed.

• Describe effective strategies for training and educating sales staff.

• Explain how selling contributes to economic activity.

Unit 8: Culminating Project: Developing a Promotional Plan

Throughout this course, you’ve learned a great deal about the marketing, advertising, and promotions industry. You’ve reviewed the history of marketing, examined its evolution into the 21st century, and discovered the skills needed to pursue one of the several career paths the industry has to offer. In this unit, you’ll have the opportunity to apply what you’ve learned by developing a promotional plan of your own. For this unit, imagine that you are an entrepreneur or small business owner looking to market an original idea for a new product. As you progress through the unit, you’ll have the chance to develop your product concept and create a promotional plan to ensure that your product is successful with your target market. Let’s get started!

What will you learn in this unit?

• Describe stages of new-product planning.

• Define product mix.

• Identify stages of the product life cycle for new or existing advertising marketing plans.

• Analyze a promotional plan for effectiveness.

How does a business make money? If you said sales, then you’re right! This course explores the secrets to sales. You’ll learn expectations, best practices, sales planning, building a clientele that becomes long-term buyers, and how to stay motivated to sell, sell, sell! If sales management is your goal, you’ll learn about management styles, how to find, hire, train, motivate, and compensate your team.

Unit 1: Sales: People, Processes, and Strategies

Take a walk to the mall and you’ll immediately notice that there are stores everywhere. They may be stores of your favorite brands, kiosks selling mobile phone accessories, or coffee shops. While all of these stores sell different things, they all depend on one thing to survive: sales. Sales is what allows each business to make money so they can expand their operations. But there’s a lot more to this profession than you may think. You’re about to discover the secrets of sales!

What will you learn in this unit?

• Understand personal success characteristics for different sales positions

• Explain key factors in building a clientele

• Understand the best practices in selling that lead to exceeding customer expectations

• Explain business ethics in selling

Unit 2: The Numbers Behind the Sales

Numbers are the foundation of sales. They help businesses keep track of how much money they’re making, what customers are buying, and how fast the company is growing. Most of the basic operations you learned in your high school math class will be used almost daily if you pick a career in sales. You’ll need to know how to use division to calculate return on investment, how to use percentages, and how to perform basic algebra to figure out missing information. The good news is that this isn’t as hard as it sounds. Let’s discover the numbers behind the sales!

What will you learn in this unit?

• Describe the nature of budgets

• Understand the various methods sales managers use to develop sales forecasts

• Discover proper procedures for maintaining sales records

• Calculate sales productivity

Unit 3: Better Together: The Sales Team

From Han Solo, Luke Skywalker, Princess Leia, and Chewbacca to Elsa, Anna, Kristoff, and Sven, teams can always accomplish more than an individual. Whether fighting villains or selling software, a group of people working together is proof that there is power in numbers. Teamwork makes the dream work, right? But you can’t expect people to know how to function as a unit if they’ve never been taught how to do that! There are ways to increase a team’s effectiveness that can make all the difference. Organizational structure, sales territory design, relationship building, and problem-solving are all critical components of group performance. Worried about how to collaborate with a team? Let it go! We’ll give you the tools you need to succeed in any sales environment. May the sales force be with you!

What will you learn in this unit?

• Identify the purposes of the sales organization

• Understand the model of salesperson performance

• Describe the sales territory design process

• Discuss key approaches to determining sales force size

Unit 4: Finding and Hiring Good Salespeople

If you take a look at some of the most successful products or services, you’ll notice that there was a team of hard-working salespeople behind them. Salespeople are a critical part of any organization. If you’ve ever bought anything, there’s a high probability that it was because a salesperson convinced you to do so. You might have seen something you liked in a store but weren’t sure if it was right for you. But then a salesperson came along and answered all your questions until you were ready to buy. Companies spend lots of time finding and hiring good salespeople because they can be the difference between being profitable and not. We’re about to reveal everything that goes behind finding and hiring sales superstars!

What will you learn in this unit?

• Understand personal success characteristics for different sales positions

• Explain key factors in building a clientele

• Understand the best practices in selling that lead to exceeding customer expectations

• Explain business ethics in selling

Unit 5: Managing and Training Salespeople

There’s a lot more to being a salesperson than picking up the phone and making hundreds of calls a day. Salespeople manage customer relationships, solve problems, and develop the processes that make money for the company. To master all these skills, salespeople require the right management and training. Companies have many exciting ways to train their salespeople, and we’re about to finally uncover all of the methods used by the top sales teams in the world. Let’s get started!

What will you learn in this unit?

• Understand the process of new employee orientation

• Compare and contrast management styles

• Discuss the development of sales training programs

• Analyze characteristics of good leaders

Unit 6: Sales Motivation and Compensation

Have you ever wondered what keeps salespeople going? What makes them get up every morning to make phone calls and send out emails? The answer is simple—motivation. Sales motivation helps companies get the best out of their team so they can go above and beyond. It also helps salespeople to enjoy coming to work every day. If you’ve ever wondered how sales motivation works, then now is your chance. Let’s explore the world of sales motivation and compensation!

What will you learn in this unit?

• Understand how an individual’s career stage influences motivation

• Discuss the effect of personal characteristics on salesperson motivation

• Examine the motivational aspects of sales contests

• Demonstrate methods to recognize and reward team performance

Unit 7: Evaluating Sales Performance

Sales is a highly competitive profession that rewards top performers. In most sales roles, you’ll find that there many ways that each individual salesperson gets evaluated. Supervisors may look at the amount of revenue that each salesperson brings in to determine their effectiveness, but they may also look at other qualities such as their prioritization and communication skills. There’s a lot to learn when it comes to evaluating sales performance, so let’s dive right in and get started!

What will you learn in this unit?

• Identify and explain key success factors for salesperson performance

• Understand how a sales manager can make the performance review process more productive and valuable for the salesperson

• Discuss the actions salespeople can take to ensure long-term buyer-seller relationships

Unit 8: Technological Tools and the Future of Marketing and Sales

Being an effective marketer is all about knowing how to use the right tools. Everything has moved to the internet, which means that everything you need to create a successful marketing campaign is just one click away. The best part about it all is that technology allows you to accurately track your performance so you can make adjustments based on real data. But that’s not all. In the future, marketing and sales technology will be hundreds of times more powerful than it is now, making it possible to uncover insights like never before. Let’s explore what’s in store for the future!

What will you learn in this unit?

• Demonstrate mastery of computers and technology currently used in marketing

• Identify the use of virtual means of communication

• Discuss the use of electronic presentations in demonstrations, sales meetings, staff meetings, and sales reports.

• Identify trends affecting marketing research

“Sell me this pen.” It seems like an easy request, but the art of selling takes nuance, expertise, and an ability to navigate the complexities of client needs. In this course, you’ll learn about the bigger picture of the sales cycle. You’ll examine the role of today’s sales professional along with the skills and qualities needed for success, and you’ll learn the ins and outs of the sales process and how it is driven by recognizing and responding to customer needs. Before long, you’ll be a part of the well-oiled engine that drives the entire commercial economy. But first, can you sell me this pen?

Unit 1: The Sales Profession

Every time a business transaction occurs, two actions are occurring simultaneously: both buying and selling are taking place. To achieve both of these activities, an interaction between multiple people must often take place. In addition to the activity of the buyer, there’s also an important counterpart acting on the selling side of a purchase transaction. The wide range of actions performed by the selling party helps to ensure a successful transaction. This role functions as part of the profession known as sales, or selling. These skilled businesspeople use their abilities, knowledge, and experience to make personal connections with customers. Career opportunities abound in the sales profession, and selling actually comes in a variety of forms—all of which are shaped by the specific industry, geography, and particular sales role. Selling professionals can continue to build their knowledge and skills by gaining job experience, increasing education, and pursuing professional development through a number of industry pathways. Through focus and dedication, professional sellers are often able to achieve long-term success in highly rewarding sales careers.

What will you learn in this unit?

• Describe the nature of selling as a profession

• Explain the importance of the selling profession to the economy

• Identify career opportunities within the selling profession

• Detail educational and training pathways used by the selling profession

Unit 2: The Professional Seller

Because all products and services usually transfer from a selling party to a buying party, you will find salespeople in all corners of the business world. All industries need capable salespeople at each step of a distribution channel, and it’s not a static role. Sellers perform a wide variety of functions for their organizations, all while using a wide range of styles and activities. Every salesperson is trained to perform according to whatever they’re selling and to the specific needs of their customers. Whether the offer is a product or a service, or whether it’s to an individual customer or a business, a professional seller’s degree of success will be determined by their level of service and how well they manage their customer relationships.

What will you learn in this unit?

• Describe the various types of sales roles within the profession

• Explain various styles of selling

• Outline and compare selling to businesses versus selling to end customers

• Compare and contrast selling physical products and intangible services

Unit 3: Skills to Sell Successfully

Making a sale is something that should be pretty familiar to all of us. Consider the fact that we sometimes influence other people—whether friends, family, or even strangers—to change their behavior. This is a form of selling. When we persuade others to act as we’d like them to, we do so by drawing on specific skills commonly used in professional selling. But occasionally persuading others to modify behavior is one thing, whereas regularly influencing customers to complete a purchase for a product or service is quite a different story. Salespeople in all fields must develop and use a unique set of skills to be successful, and those skill levels differ depending on the strengths and weaknesses of the person doing the selling. Successful salespeople have the ability to assess their own capacities for selling. They’ve learned to leverage their strengths while also working to improve upon their weaknesses. Salespeople who work consistently to improve their skills tend to achieve long-term success in the profession. Beginning with an assessment of their own mix of personal attributes, sellers are able to set achievable goals aimed at building their particular skill sets—something they’ll continue to monitor and develop over the course of their careers.

What will you learn in this unit?

• Explain key success factors for high-achieving sales professionals

• List valuable characteristics of people in the selling profession

• Identify essential skills needed to communicate effectively with customers

• Describe how salespeople can develop skills for continuous job improvement

Unit 4: The Role of Marketing in Sales

Focusing on customer wants and needs is the key to a company’s success, and two departments within any organization are responsible for working together to direct and manage that focus. Those are the sales and marketing teams. The marketing department traditionally focuses on activities directed to large groups of customers, while the sales department works to identify interested individuals from within those groups so they can convert that interest into business transactions. Providing a positive customer experience depends largely on these two departments working together well as a team. But before a sale can be made, the company must first get their offerings and messages out to the customers. This is the function of marketing. Using a mix of strategies, marketing first identifies who the customer is and then works hard to satisfy them. Sales and marketing operate as distinct departments within a business, but they both focus on the single most important person to a company—the customer.

What will you learn in this unit?

• Outline the relationship between marketing and sales teams within an organization

• Define and explain the four Ps of the marketing mix

• Describe how an organization segments, targets, and positions its products and services to customers

• Explain the promotional mix and how companies use communications to sell their offerings

Unit 5: The Role of Sales in Marketing

Marketing teams all over the world focus their efforts on activities that communicate their messages to their customers. Advertising and public relations are both examples of marketing practices that play a role in a company’s overall strategy to get the word out to their target markets. Practices that make up this promotional mix all aim to make a connection with the customer, but the one practice of the promotional mix that connects with the customer in real-time is personal selling. While general marketing focuses on an overall selling strategy, sellers interact directly with customers to close sales in real-time. Sales teams research, analyze, and assemble materials designed to help their salespeople to complete sales transactions. By using marketing materials to connect with customers and build business relationships, salespeople realize the many marketing objectives with each and every transaction.

What will you learn in this unit?

• Recognize the responsibilities of the sales department

• Assess factors that signal a selling opportunity

• Identify the information used to determine new customer opportunities

• Describe various approaches to sales prospecting

Unit 6: Understanding Customer Needs

Professional sellers focus much of their time and energy on making close connections with customers. This starts with a deep understanding of who the customers are and how they buy. Customers tend to follow a particular process when making both personal and business buying decisions. Salespeople must thoroughly understand how this process works to be able to guide the customer through the stages of the purchasing process. And because each customer has different needs and motives for making a purchase, sellers must also recognize various customer types and the differences between them. Gaining a solid understanding of the customer’s role, characteristics, and process is every salesperson’s challenge. Only then can a salesperson close the sale and shift their focus to providing quality customer service after the sale is complete.

What will you learn in this unit?

• Describe the stages that make up the purchasing process

• List key reasons why customers buy

• Identify and compare various types of customers

• Explain why customer service is an important step in the purchasing process

Unit 7: The Selling Process

Just as a customer moves through a series of steps in a particular process before making a purchase, professional salespeople also progress through the steps of their own process on the selling side of a transaction. This process guides their interactions with customers—from the initial interest to the final purchase—and every step of the selling process mirrors its own analogous step within the buying process. You can think of the sales process as the map that helps the seller navigate the sales terrain on the journey from encountering a new opportunity to closing a transaction with a paying customer. By following the repeatable steps in this process, salespeople anywhere can benefit by selling more and working more effectively with customers.

What will you learn in this unit?

• Describe the steps in the selling process and the techniques used at each one

• Analyze how the sales process can be mapped to the customer’s buying process

• Identify success factors for negotiating and closing business transactions

Unit 8: Communications in Sales

Success at each step of the selling process relies on several factors, but all of it boils down to clear communication. Everything—from the first contact with a new prospect to developing relationships, asking questions, presenting, and closing the sale—requires skills in various types of communication. Selling activity is built on two or more individuals interacting with each other, discussing issues, making discoveries, and then reaching potential solutions. This can take place either when buyers and sellers are both in the same room or when they are within a virtual setting. Skilled communication on the part of sellers is ultimately what moves the sales process forward, eventually leading to closed transactions. Knowing what types of communication are needed, and when, and then using those specific types effectively, is exactly what leads sales professionals to achieve success with customers.

What will you learn in this unit?

• Describe various communication methods used during the selling process

• Compare interactions with customers in face-to-face, digital, and sales-call environments

• Identify common customer objections and appropriate strategies sellers can employ to handle them effectively

They say money makes the world go round, but sales is what keeps the world spinning. In this course, you’ll explore the power of promotion and how to rise to the ranks of an elite sales and promotions rep. You’ll dive into what it takes to be a stellar seller, how salespeople work together in teams to meet goals, and how the savviest sales managers employ proven sales methods mixed with technology, tools, and psychological insights to build and operate an efficient sales team. Are you ready to keep the world in motion? Let’s uncover the secrets of sales success.

Unit 1: Selling to Organizations

When you think of buying and selling goods or services, things like shoes, groceries, or maybe concert tickets probably come to mind, right? That’s because much of the selling we see taking place every day occurs at a consumer, or retail, level. This typically involves people making purchases in a physical store or at the mall. But, in terms of volume, the vast majority of selling that occurs every day takes place between businesses. Individuals are employed by businesses to make purchases on behalf of the companies and organizations for which they work. But they don’t decide on the products all by themselves. Instead, a number of different sectors have a say in the purchase process, and each one of them brings their own motivation and objectives to the transaction. Sellers must be able to recognize these various types of needs and the process that the organizational customer follows when making a purchase. By forming specialized teams trained to assist the seller with the transaction, companies can establish long-lasting relationships with large and complex organizational buyers.

What will you learn in this unit?

• Explain the importance of selling to organizations

• Describe the various customer roles involved when selling to an organization

• Outline the stages an organization follows when buying

• Examine the nature of team selling and how it works when selling to organizations

Unit 2: Account-Level Research and Analysis

Doing research and analysis for each individual customer and prospect can help a seller make smart business decisions. Knowing as much detail about every consumer, organization, and individual buyer as possible—before, during, and after any type of selling activity ever takes place—is positively vital to the entire sales process. In order to get to know a customer well, a variety of primary and secondary research methods can become valuable tools. The process of learning about each prospect first starts with identifying the best potential clients, followed by performing the relevant research, and then finally engaging in the selling process with each and every one. By gaining deep insights into both individuals and organizations, professional salespeople can be prepared for every potential point of client contact, they can use their time wisely throughout every phase of the sales process, and they can build meaningful client connections that can blossom into respectable business relationships.

What will you learn in this unit?

• Explain the concept of sales qualification and its components

• Describe the focus of customer-level research used during the sales process

• Identify primary research tools used to determine customer sales potential

• Recognize other areas of valuable customer exploration

Unit 3: Legal and Ethical Issues in Sales

What a salesperson says and does with customers, colleagues, and others affects the company and its reputation. Companies with sales teams that demonstrate high standards of conduct build strong reputations and earn the trust of their customers, their colleagues, and their competition. This positive public image begins with ensuring all of the actions taken by members of the team follow the many laws and regulations that apply to businesses in general, and specifically to sales activities. This kind of compliance can only occur when sellers first know the difference between what is actually determined to be legally right and wrong, opting to behave in line with the former while resisting any temptation to succumb to the latter. But it doesn’t stop there. In many ways, a strong reputation and positive public image also depend on differentiating between actions that, while not necessarily illegal, may be considered morally or ethically wrong. Consistently choosing legally and ethically right actions actively shapes the behavior of sales professionals with their customers, informs their interactions with the many stakeholder groups inside and outside of their companies, and protects their jobs, reputations, and valuable company property.

What will you learn in this unit?

• Identify common legal considerations in sales

• Describe business ethics and how they impact seller actions

• Explain how salespeople can make ethical customer-related decisions

• Detail key intellectual property types and how each can be protected

Unit 4: Sales Management and People

When it comes to professional selling, a sales team depends heavily on the knowledge and capabilities of the leadership guiding their efforts. This team of dedicated sellers is responsible for achieving the company’s financial goals. The sales manager, on the other hand, is the link between the team and the company’s financial success. Managers are responsible for driving the performance of their teams to the highest level. To do so, they must have a diverse skillset that includes not only the capacity to train, develop, and evaluate their teams, but also the ability to keep team members motivated and moving forward. When a sales team hits its financial targets and achieves company goals, the manager is almost certainly the organizing force behind the selling success. When the team does not hit its financial targets or meet the company’s objectives, the manager must evaluate the situation and determine the reason—or reasons—for the team’s shortcomings. That way, the team can begin to correct course with a better sense of strategy for future success. Working behind the scenes, these managers use their experience and motivational techniques to organize and operate a team of effective sellers and ultimately lead them to success.

What will you learn in this unit?

• Detail how sales teams are structured within an organization

• Identify ways that sales managers can effectively lead sales teams

• Describe key steps used to train and develop a sales team

• Explain how sales managers can subjectively evaluate seller performance

Unit 5: Sales Management and Performance

Sales managers play a key role in evaluating their team’s performance. They do so in many ways, using several different measures. Assessing each seller’s performance relies both on real numbers—such as revenue and activity levels—and feedback from customers. These numbers and measures heavily influence seller performance reviews and also how they are paid. The results also help sales managers plan ahead—to set sales targets, adjust compensation plans, and manage forecasts. Among their other roles, sales managers set performance goals, coordinate the forecasting process, and lead the performance evaluations of their employees.

What will you learn in this unit?

• Identify ways sales managers can objectively evaluate their sales teams

• Detail various systems used to compensate salespeople

• Describe quotas and approaches used to set appropriate sales targets

• Explain sales forecasts and the methods used to develop them

Unit 6: High-Performance Selling

What is the difference between a good sales professional and a great one? We can learn a lot from sellers who consistently outperform both their colleagues and the annual targets. In today’s highly competitive business world, companies who provide superior selling services to customers can stand out from the crowd, but this requires developing sales teams that are highly skilled, demonstrate good habits, and develop close relationships with customers over the long term. These factors lead to customer loyalty, which has lasting benefits for a company. Loyalty boosts sales, increases repeat purchases, and lowers costs. By creating a team of high-performing sellers, a business can get an edge in the market and consistently outperform its competitors.

What will you learn in this unit?

• Identify selling strategies to achieve high-performance results

• Describe customer loyalty and ways that salespeople can encourage repeat purchases

• Explain how to maximize sales growth from existing customers

Unit 7: New Trends in Professional Sales

The role of the professional salesperson is always evolving. It looks different today than it did twenty, ten, or even five years ago. Much of this change is driven by advances in technology. Just as in many other professions, modern digital tools provide sales teams with exciting new opportunities, but they also create new challenges too. As technology progresses in speed and capability, it can impact sellers and customers in both positive and negative ways. The selling process itself will continue to change due to automation related to productivity, communications, and analysis. Sales teams who can embrace this technology-driven change will find that rich and rewarding opportunities abound in this new era, but those who are unable or unwilling to adapt risk being left behind—by both customers and their competition alike.

What will you learn in this unit?

• Identify drivers of change in sales and sales management

• Detail the impact of technology on the sales organization

• Evaluate social media tools that impact selling interactions

• Describe how salespeople use big data and analytics to achieve a competitive advantage

Unit 8: Developing a Sales Plan

As the sales profession becomes more challenging and competitive, sales managers and their teams are focusing more and more on planning. Starting each new quarter and year with a detailed plan helps both sales managers and sellers reach the best results for their customers and their organization. The process starts with a sales manager—the one who’s responsible for planning for the entire team. Next, territories are defined carefully so that the manager can properly allocate all company resources. Finally, each seller creates their own plan, which focuses on a specific territory. This personal plan includes strategies to reach selling objectives. This step-by-step planning effort ensures the entire sales team is focused on the right customers and activities to meet the company’s financial goals and achieve success.

What will you learn in this unit?

• Identify the components of a sales plan

• Develop a sales and territory plan based on a specific product, service, and location

• Determine the types of strategies found in a sales plan