An Exploratory Assessment of Sales Culture Variables: Strategic Implications Within the Banking Industry

Ridnour, Rick E.; Lassk, Felicia G.; Shepherd, C. David
June 2001
Journal of Personal Selling & Sales Management;Summer2001, Vol. 21 Issue 3, p247
Academic Journal
Growing, or even simply sustaining, profitability in today's rapidly changing environment is a daunting task. Today's firm must contend with increasing competition, changing customer requirements, and unprecedented technological change. Further, changing government regulations, such as the recent wave of deregulation, have dramatically changed the way business has traditionally been done in certain industries. In such a turbulent environment many firms have discovered that a total organizational sales effort is necessary. For many firms, this means a paradigm shift that involves strengthening their sales culture. The purpose of this study is to empirically examine the sales culture (SC) concept and discuss its importance in contemporary business strategy. First, we will discuss market orientation from a corporate culture perspective. Second, the sales culture component of a market orientation will be defined and examined. Third, an exploratory investigation of constructs associated with sales culture will be investigated using an example taken from an industry that is experiencing rapid change, the banking industry. Finally, strategic implications, limitations and suggestions for future research will be shared.


Related Articles

  • Building Rapid Rapport. Cobb, Bob // Bank Investment Consultant;May2008, Vol. 16 Issue 5, p30 

    The article provides insights on how a salesperson can build rapport to prospects and clients. The author claims that speech rate adjustment is one simple way of building rapport and watching their eyes can deepens rapport rapidly. It also says that adopting the client's preferred sensory input...

  • The secret is in the... rules of engagement.  // Long Island Business News (7/1993 to 5/2009);3/18/2005, Vol. 52 Issue 12, p21A 

    This article describes the business model titled "Intelligent Engagement," created by the author. The author says that he began to expand and refine it. After two years of personally using the model, he has come to a better understanding of how powerful it really is. This strategy completely...

  • Lean for the sales team. Hill, Rick // Wood Digest;May2007, Vol. 38 Issue 5, p48 

    The article describes how a business strategy known as lean method is helpful for the sales team in a company. The lean concept in sales is focused on one activity, which is the time in front of the customer. When a salesperson is working with a customer, they have the customer's full attention...

  • Cold calling has gone the way of the dinosaurs. Gitomer, Jeffrey // Business Journal Serving Fresno & the Central San Joaquin Valley;2/19/2010, Issue 324143, p7 

    The article discusses the author's views on cold calling in business in the U.S. He states that even if cold calling is over, executives encourage their employees to do it. The author emphasizes the cold calling is a total waste of time and has the lowest percentage on the available selling...

  • Establish best practices to get the most out of e-mail interactions.  // Sales Insider;2/11/2009, Vol. 3 Issue 56, p4 

    The article provides information on how sales professionals can get the most out of e-mail interactions. According to the article, sales professionals should call a contact, leave a voicemail message with both their contact number and e-mail addresses and wait for them to respond to get a sense...

  • Sales Strategy, Part Two: Essentials of Implementation . Miller, Nick; Wendel, Charles B. // American Banker;7/5/2001, Vol. 166 Issue 128, p7 

    Part II. Offers advice to banks on implementing sales strategies. Development of a sales scoreboard that translates tuned-up strategy into performance indicators; Formation of sales activity plans; Strategy-focused compensation plans.

  • How to strengthen marketing when the going gets tough. Faulkner, John C. // Management Review;Sep80, Vol. 69 Issue 9, p8 

    Discusses some practical steps to make certain that the marketing function's capabilities and strengths are being used effectively. Role of long-term corporate strategic plans; Analysis of market opportunities and needs; Functions of salesman; Coordination of support for the sales effort.

  • Wake up to negotiation reality: Transform your negotiations and avoid commoditization. Dietmeyer, Brian // Velocity;2007, Vol. 9 Issue 3, p23 

    This article cites the need for sales professionals to modify their idea about traditional negotiation and apply a different negotiation strategy. Sales professionals are encouraged to advance as professional dealmakers who can anticipate negotiation outcomes. It states that commoditization can...

  • Technology can't replace truly knowledgeable reps. Epperson, Jerry // Furniture/Today;6/25/2001, Vol. 25 Issue 41, p16 

    Comments on the effect of technological innovations on sales representatives in the United States. Retailers' need to have truly knowledgeable representatives; Emergence of new technology in the furniture market.


Read the Article


Sign out of this library

Other Topics