Lonnie Is a Newly Trained Salesperson for a Company That

question 66

Multiple Choice

Lonnie is a newly trained salesperson for a company that manufactures customized display shelf and storage units for retail stores. Lonnie was proud of the number of sales he made during his first months of selling. Today he received a call from his sales manager who was highly critical of Lonnie's recent sales. It seems that Lonnie was offering potential customers a 10 percent discount if they would make an immediate purchase. Lonnie's company has a policy of not offering a discount of any kind

• A) Product knowledge
• B) Competitive information
• C) Company orientation
• D) Time and territory management
• E) Legal/ethical issues

Identify and explain the advantages of market pricing in compensation.

Comprehend the concept of skill-based pay systems and the importance of skill blocks.

Understand the critical issues involved in designing competency-based pay systems.

Distinguish between pay for knowledge systems and job-based pay systems.

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Definitions:

Skills Development

The enhancement of an individual's job-related skills and capabilities through training and education.

High-Potential Employees

Individuals recognized for their ability, engagement, and aspiration to rise to and succeed in more senior positions within an organization.

Replacement Analysis

An assessment to determine the need and timing for replacing employees owing to retirement, turnover, or skill obsolescence, ensuring uninterrupted operations.

Succession Analysis

The process of identifying and developing internal candidates to fill key leadership positions in the future.