1 ABC A sales acronym standing for always be closing Advertising: whereby payment is made and commission is payable to an advertising agency.2 Above the Line Commissionable media are: television, radio, cinema, posters, press and ambient when a manager or supervisor or trainer accompanies a sales person while working on the sales territory, usually while meeting prospects or customers. Typically the manager would complete a an accompaniment3 accompaniment report visit report on the performance of the sales person, which would be discussed, and suitable followup actions or training agreed. a customer, usually a businesstobusiness organization; a major account is a large organization; a national4 account account is a customer with branches or sites that constitute a nationwide coverage, which typically requires special pricing and senior sales attention. This is where the listener aims to understand, not just hear; they can achieve this through concentrating,5 Active Listening asking linked questions, using empathy statements, summarising and use of appropriate body language such as nodding the element(s) of service or product that a sales person or selling organization provides, that a customer is prepared to pay for because of the benefit(s) obtained. Added values are real and perceived; tangible and6 added value intangible. A good, reliable, honest, expert, informed sales person becomes a very significant part of the selling organizations added value, as perceived by the customer, if not by the selling organization. A buying process for first-time purchases, particularly for consumer markets and comprising: Awareness,7 Adoption process Interest, Evaluation, Trial, Adoption, Post-Adoption confirmation: similar to AIDA the aspect of a product or service that makes it better than another, especially the one insitu or that of a8 advantage competitor. A form of promotion whereby payment is made and commission is payable to an advertising agency.9 Advertising Commissionable media are: television, radio, cinema, posters, press and ambient: also known as above-the- line promotion10 Advocate revenue sales influenced by word-of-mouth advertising. a person who acts on behalf of a company or individual to sell its products or services... an agent is typically11 Agent compensated on a commission only basis... also see broker
Agents sell to the end customer on behalf of the Principle, who is the owner of the goods so they, in effect as12 Agent a sales force. They often do not handle the goods, unless they are stocking agents, and they do not take title, or ownership, of the goods. They are paid commission on what is sold and so must be highly motivated If the objection is a fact that is correct, yet there can be a benefit to the fact, this is an excellent way of overcoming it; it is one of the most common methods for dealing with an objection. It shows that the Agree and Counter (Method of Dealing salesperson is honest and empathetic yet turns the problem to a potential advantage. An example is if the13 with Objections) prospect says the product is too expensive: the salesperson can point out it is more expensive than many competitors (agree) but the superior quality of materials means that it will last longer giving the prospect long-term peace of mind and long-term value sales process acronym... attention, interest, desire, action... "get the prospects attention, gain their interest,14 AIDA create desire and encourage them to act by moving forward with the purchase." Attention, Interest, Desire, Action: a model describing the stages that promotion can take a target audience15 AIDA through: is often used to set promotional objectives The alternative close is similar to the assumptive close but the sales person offers the buyer two options for16 Alternative Close example, asking whether the buyer would like the product in black or white prior to the buyer saying they intend to purchase the product. This technique needs to be used carefully. Originally known as fringe media. New types of advertising media that surround us in our daily lives,17 Ambient Media including: petrol pump advertising projected onto buildings, on car parking tickets, cricket pitches the act of marketing a product or service in conjunction with an event or other brand without paying for the18 ambush marketing right... typically used when an official sponsorship opportunity is available but a company doesnt wish to pay the fee for the sponsorship or another company has already purchased the sponsorship. A model showing the possible product-market strategies of an organisation; these are considered the main marketing strategies and comprise: market penetration, product development, market development and19 Ansoff Matrix diversification. The 2 x 2 matrix axes are: new and existing products along one axis and new and existing markets along the other A business planning acronym standing for: Analysis, Objectives, Strategy, Targets, Implementation and20 AOSTIC Control – now often expanded to MAOSTIC, see relevant section21 Appointment a personal sales visit to a prospect, usually arranged by phone. See the appointmentmaking process.
acronym... application service provider... a software solution used by the customer where the solution itself22 ASP is developed, hosted and managed by an outside company... generally implies a lower implementation cost. This is where the salesperson works on the assumption that it’s a ‚done deal‛ and they just need to iron out23 Assumption/Assumptive Close the finer points. It should be used carefully as it making assumptions can annoy the buyer. old school closing approach where the salesperson assumes the prospect is buying and moves directly to a24 Assumptive close request for a signed contract and/ or payment. A technique that helps a firm to evaluate performance against specific objectives. Methods of measurement25 Balanced Scorecard include: sales, profit and customer value a non-monetary exchange... an exchange of products and/ or services for other products and/ or services...26 barter sometimes used to minimize cash outlays or to maximize the value of sunk costs. An exchange of products and/or services for other products and/or services; some firms use it to minimise27 Barter cash purchases the guaranteed portion of a salespersons monetary compensation... not always a part of a salespersons28 base salary or "base" compensation. Also known as ‚The Boston Box‛. This 2 x 2 matrix is a model to help a firm analyse its product portfolio.29 BCG (Boston Consulting Group) Matrix The two axes are relative market share and annual market growth and the four quadrants are: Classifying the market into groups of people according to the similarity in way they behave or interact with a product. This includes identifying those who require the same benefit from a product or service and those30 Behavioural Segmentation who use a product or service in the same way. It is increasingly recognised that this should be the starting point for market segmentation All forms of promotion except advertising (i.e. those on which agencies are not paid commission). It31 Below the Line includes: public relations, sales promotions, direct mail, point of sale the gain (usually a tangible cost, but can be intangible) that accrues to the customer from the product or32 Benefit service.33 benefit the value experienced by the customer.
The value of the product or service experienced by the consumer, which is distinct from features. Sales34 Benefit people should sell on benefits supported by features a retail sales term used to describe the Friday after Thanksgiving... traditionally a big selling day for the35 Black Friday retail world... originated as a description of the day in the year when a retailer begins to profit or "be in the black". The main non verbal communication method and includes the way you stand or sit, facial expressions,36 Body Language gesticulations, how you hold your head and use your eyes A name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from37 Brand those of other sellers  A strategy whereby a firm uses an existing brand name for a new product to be marketed to the same38 Brand Extension market egg Persil washing tablets a person who acts on behalf of a company to sell its products or services... a broker is typically compensated39 broker on a commission only basis... also see agent. A particular type of agent who tends to trade on behalf of the customer, rather than the principal and so will40 Broker tend to have agreements with many principal organisations  eg an insurance broker the amount of money available for use to a salesperson or purchasing agent for a particular time period or a41 budget particular project... can also be used to describe a sales target (in revenue and/ or units) for a specified time period... also referred to as a quota, goal or forecast. The buying process and factors that influence the process when businesses purchase goods or services. Business DMP (Decision making process) usually more extensive than consumer buying and may involve:42 Business Buyer Behaviour Establish need, Develop specification, Identify alternatives, Evaluate alternatives against specification, Request tender, Select, Establish administrative systems, Purchase, Post-purchase evaluation. A plan that states the long-term direction of a company and includes audit, mission, objectives, strategies,43 Business Plan forecasts, cash flows and controls Can refer to a market, product or industry whereby the context is of a firm selling to another organisation to44 Business to Business (B2B) either Can refer to a market, product or industry whereby the context is of a firm selling to an individual for his45 Business to Consumer (B2C) own personal consumption, rather than to an organisation for their use or consumption
most commonly means a professional purchasing person in a business; can also mean a private consumer. Buyers are not usually major decisionmakers, that is to say, what they buy, when and how they buy it, and how much they pay are prescribed for them by the business they work for. If you are selling a routine46 buyer repeating predictable product, especially a consumable, then you may well be able to restrict your dealings to buyers; if you are selling a new product or service of any significance, buyers will tend to act as influencers at most. See decisionmakers. The stages that buyers go through when buying goods or services. There are many factors that influence47 Buyer Behaviour buyer behaviour (see Consumer Buyer Behaviour and Business Buyer Behaviour and Decision Making Process) A written, or unwritten, checklist of the requirements of the purchaser when making a buying decision egg48 Buying Criteria price, speed of delivery, quality and so on also known as facilitative buying, generally attributed (and registered) to sales guru Sharon Drew Morgen.49 buying facilitation® Extremely advanced form of personal selling, in which the central ethos is one of helping organizations and buyers to buy, not selling to them. See collaboration and partnership selling at the end of the section. a communication from a prospect or customer that indicates s/he is or is strongly considering making a50 buying signal purchase... typically delivered in the form of a question (i.e., can i have it delivered before the end of the month?) a buying signal is a comment from a prospect which indicates that he is visualising to whatever extent buying your product or service. The most common buying signal is the question: "How much is it?" Others51 buying signal are questions or comments like: "What colours does it come in?", "Whats the leadtime?", "Who else do you supply?", "Is delivery free?" "Do you use it yourself?", and surprisingly, "Its too expensive." A communication from a prospect indicating they are ready to make a purchase. Buying signals may be non-52 Buying signal verbal, such as a nod, or verbal, such as an interested questions egg when could it be delivered? behavioural, nonverbal and other signs that a prospect likes what he sees; very positive from the sales53 buying warmth persons perspective, but not an invitation to jump straight to the close.
These are premises where many telephone lines are routed into numerous telephone operators who work at the call centre, usually using headsets and computers. They may operate on behalf of one organisation, or be54 Call Centre contracted to many. An outbound, or sales, call centre is one that not only receives calls but also makes telemarketing calls a personal facetoface visit or telephone call by a sales person to a prospect or customer. Also referred to a55 call/calling sales call (for any sales visit or phone contact), or cold call (in the case of a first contact without introduction or notice in writing).56 Canvas Another word for prospecting where the sales person is seeking information to establish potential customers coldcalling personally at the prospects office or more commonly now by telephone, in an attempt to57 canvass/canvassing arrange an appointment or present a product, or to gather information. A type of distributor, or wholesaler, who performs a variety of functions but does not give credit, nor58 Cash and Carry transport goods to their customers Channelling goods from their origin to their ultimate destination and involves the use of intermediaries, or59 Channel of Distribution middlemen such as wholesalers and retailers. Factors that impact the selection of channels include: the customers, the product, competitors, size and resources, channel power60 Channels May refer to Distribution Channel or Communication Channel (see relevant section) the penultimate step of the Seven Steps of the Sale selling process, when essentially the salesperson encourages the prospect to say yes and sign the order. In days gone by a Sales persons expertise was61 close/closing measured almost exclusively by how many closes he knew. Thank God for evolution. See the many examples of closes and closing techniques in the Seven Steps section, but dont expect to kid any buyer worth his salt today, and using one might even get you thrown out of his office. Use with great care. These are a negative form of body language where a person appears to be protecting their body and so they62 Closed Gestures have their legs crossed or arms folded; however, gesture clusters should be noted, rather than individual gestures These are a type of question used in marketing research. They are questions where all the possible answers are provided by the researcher, usually on a questionnaire, enabling the respondent to choose between the63 Closed Questions given answers. Examples are dichotomous questions (providing possible answers of yes or no) and multiple choice questions. Closed questions lead to quantitative data, which is easier to analyse than answers elicited from open
This is a major stage of the sales cycle and one that even sales people are often not keen on! It is where the sales person asks for the business. There are several techniques for closing. Cooper  identifies four closes:64 Closing (The Sale) the Alternative Close, Direct Close, Cautious Close and Assumptive Close, which is also known as the Assumption Close (see relevant sections); others that many texts and sales people recognise are: Summarise and then direct close, Concession Close, Objection close These are questions that are designed to bring fact finding discussions to an end, so the prospects can be65 Closing Questions moved forward to take a purchase decision a sales call where the salesperson doesnt personally know the company and/ or contact s/he is calling on66 cold call and/ or a sales call where no known need, by the prospect or salesperson, exists. a sales call where the salesperson doesnt personally know the company and/ or contact s/he is calling on67 cold call and/ or a sales call where no known need, by the prospect or salesperson, exists. This is the process of telephoning or calling at the door of people or companies who have not previously68 Cold Calling expressed an interest in the product, service or firm also known as collaborative selling and facilitation selling very modern and sophisticated, in which seller69 collaboration selling truly collaborates with buyer and buying organization to help the buyer buy. A logical extension to strategic or open plan selling. See collaboration and partnership selling at the end of the section. an activity in which one engages in order to push one’s envelope where one has relatively little experience70 comfort zone challenge and/ or comfort. an activity in which one engages in order to push one’s envelope where one has relatively little experience71 comfort zone challenge and/ or comfort. Those who buy on behalf of a business. This involves more logic than emotion, although emotion still plays72 Commercial Buyers a part. Factors influencing commercial buyers are: who instigates the process, competition, quantity, value, quality, repeat business and price . See also Business Buyer Behaviour This is also known as a business, or industrial, market and is one where companies buy goods or services for73 Commercial Market consumption in their business or to transform the goods into other products to be sold Remuneration paid to a salesperson following the successful completion of a sale; is usually a percentage of74 Commission sales revenue
typically a term applied to describe products which are mature in development, produced and sold in vast scale, involving little or no uniqueness between variations of different suppliers; high volume, low price, low profit margin, deskilled (ease of use in consumption, application, installation, etc). Traditionally the commodities term applies to the commodities markets which trade and set prices for fundamental commodities such as coffee, grain, oil, etc., however in a more generic sales and selling sense the term commoditised refers to a product (and arguably a service) which has become massproduced, widely commodities/commoditised (products75 available, easy to make, demystified, and simplified; all of which is almost invariably associated with a and services) reduction in costs, prices and profit margins, and which also has massive implications for the sales distribution model and methods for taking the product or service to market. Commoditised products are amenable to massmarket and largescale sales distribution methods and models, as opposed to specialised or highcomplexity products, which tend to require closer customer support and greater expertise and advice at the point of selling and installation, and commissioning and application, if appropriate. An electric battery torch is a commoditised product that is freely available, at competitively low price, offtheshelf at any Elements within the Promotions Mix that an organisation uses to communicate with target audiences (See76 Communication Channel Promotions Mix) Research aspects of promotions decisions. Cooper identifies 4 key areas : effectiveness research, media77 Communications Research selection, copy testing and sales force effectiveness A type of advertising that a firm uses to compare their products or services directly with competitors. Needs78 Comparative Advertising to be used with care and is illegal in some countries79 Competition-Based Pricing This is where a product is priced according to its perceived value against competing brands A form of Sales Promotions that is used to gain interest from a target audience, whereby they may win a80 Competitions prize81 Competitive Advantage A firm’s USP (Unique Selling Proposition) that a firm has to put them in a better position than competitors A pricing strategy whereby a firm charge a price similar to other brands or the market leader. The objective82 Competitive Parity is to prevent a price war and the firm should have a differential advantage other than price May be direct or indirect. Direct competitors provide the same products or services in the same market;83 Competitors indirect competitors provide similar benefits, or substitute benefits in the same market.
One of three target marketing strategies. It is where the firm targets a niche market with one specific tailored84 Concentrated Strategy marketing mix used in the context of negotiating, when it refers to an aspect of the sale which has a real or perceived value, that is given away or conceded by seller (more usually) or the buyer. One of the fundamental85 Concession principles of sales negotiating is never giving away a concession without getting something in return even a small increase in commitment is better than nothing. See the negotiation section. This way of closing the sale is where the salesperson keeps one possible concession back as a way of86 Concession Close encouraging the prospect to make the decision, for example if the prospect will place the order today, the sales person will give them an extra 1% discount87 Confirmatory Questions These questions confirm that the seller understands the buyer’s needs and are usually closed developed by various sales gurus through the 1980s by David Sandler among others, and practiced widely consultative selling (consultation88 today, consultative selling was a move towards more collaboration with, and involvement from, the buyer selling) in the selling process. Strongly based on questioning aimed at gaining useful information.89 Consumer An individual who uses a product or service (they may not be the buyer) The buying process and factors that influence the process when consumers purchase for their own use. The basic process (DMP) comprises: Establish need, Identify alternatives, Evaluate alternatives, Select, Purchase,90 Consumer Buyer Behaviour Post-purchase evaluation. Cooper  indicates the process for buying a car might be: Identify need, Finance, Evaluate alternatives, Trial, Negotiate, Purchase, Evaluate purchase. a method or system for managing contact information, priorities and checklists... typically used to describe a91 contact manager software solution that partially automates contact management functions. a method or system for managing contact information, priorities and checklists... typically used to describe a92 contact manager software solution that partially automates contact management functions.
A PR technique of entertaining clients or people who are not direct employees but are Stakeholders and can93 Corporate Hospitality have a beneficial effect on the organisation; they are typically potential customers, key account customers, intermediaries and the media Physical reinforcement of the personality of a firm which is reflected by consistent use of brand names,94 Corporate Identity symbols, logos, colours, typefaces; the identify aims to reinforce the Corporate Image A firm’s personality, which can only be defined by the public. Firms use corporate identity and PR to95 Corporate Image enhance their image.96 Corporate Strategy A firm’s long-term business plan (see Business Strategy) This includes strategies where the major consideration is covering the firm’s costs and is a favourite97 Cost-Based Pricing amongst accountants acronym... customer relationship management... term generally used to describe a comprehensive software98 CRM solution that helps companies manage their relationships with their prospects and customers. acronym... customer relationship management... term generally used to describe a comprehensive software99 CRM solution that helps companies manage their relationships with their prospects and customers. to sell a prospect/ customer a product or service that complements or adds value to another purchase... can100 cross sell also be used to refer to selling an existing customer another product or service (regardless of its connection with another purchase) to sell a prospect/ customer a product or service that complements or adds value to another purchase... can101 cross sell also be used to refer to selling an existing customer another product or service (regardless of its connection with another purchase)102 Cross Selling Selling different parts of a product range, that they have not previously bought, to an existing customer103 Cultural Empathy When a sales person (or firm) achieves a rapport, or understanding, of a customer’s culture The set of beliefs, values and attitudes that underpin society. Our culture involves all things around us; it is104 Culture very complex and includes our language, religion, education, social behaviour, politics and social attitudes. It can have a huge impact on our buyer behaviour.
usually meaning the purchaser, organization, or consumer after the sale. Prior to the sale is usually referred105 Customer to as a prospect. A person or company who purchases goods or services. They are not necessarily the ‚consumer‛, i.e. the106 Customer end user The profitability of a customer during the lifetime of the relationship with the firm; this is distinct from their107 Customer Lifetime Value (CLV) value during one transaction108 Customer Loyalty The extent to which a customer tends to repurchase from a specific firm, organisation or a particular brand.109 Customer Orientation A business that is marketing orientated, is by nature, customer orientated  110 Customer Philosophy Considering the needs of the customer in everything a firm does CRM is now a commonly used term to describe the process of managing the entire selling process within a department or organisation. Computerised CRM systems enable management of prospect and customer customer relationship management details, contacts, sales history and account development. Well known examples of CRM computerised111 (CRM) systems are Sages ACT!, which claims (as at 2006) to be the worlds most popular CRM system, and Front Ranges Goldmine. Chief elements of a CRM system (or strategy, since the term is used to describe the process and methodology as well as the system) are: Customer Relationship Management The planning, implementation and control of all interactions with customers. The aim is to develop112 (CRM) customer loyalty113 Customer Service Means by which a firm provides customers with service that equals or exceeds their expectations The process of obtaining, recording and maintaining information which is able to be retrieved and used:114 Data Processing often involves new technology The use of a database for storing information about customers so that specific groups can be selected and115 Database Marketing targeted for marketing activity common business parlance for the sale or purchase (agreement or arrangement). It is rather a colloquial116 Deal term so avoid using it in serious company as it can sound flippant and unprofessional.
A role within the Decision Making Unit (DMU). The Decider makes the final decision regarding the product117 Decider or service to be bought; they are often technical experts and/or purse holders118 Decision Making Process (DMP) The process that a buyer goes through to purchase a good or service. The group of people involved in a purchasing decision; includes: the initiator, gatekeeper, influencer,119 Decision Making Unit (DMU) decider, financier, buyer, user (see relevant sections) a person in the prospect organization who has the power and budgetary authority to agree to a sales proposal. On of the most common mistakes by sales people is to attempt to sell to someone other than a genuine decisionmaker. For anything other than a routine repeating order, the only two people in any organization of any size that are real decisionmakers for significant sales values are the CEO/Managing120 decisionmaker Director/President, and the Finance Director. Everyone else in the organization is generally working within stipulated budgets and supply contracts, and will almost always need to refer major purchasing decisions to one or both of the above people. In very large organizations, functional directors may well be decisionmakers for significant sales that relate only to their own functions activities. See influencer. an aspect of a proposal that the provider commits to do or supply, usually and preferably clearly121 deliverable(s) measurable.122 Demographic Segmentation A method of segmenting markets by demography the study of, or information about, peoples lifestyles, habits, population movements, spending, age, social123 demographics grade, employment, etc., in terms of the consuming and buying public; anyone selling to the consumer sector will do better through understanding relevant demographic information. Information profiling a population in terms of their age, gender, income, stage in the family life cycle,124 Demography religion and social class; is frequently used for segmenting consumer markets. the physical presentation by the sales person to the prospect of how a product works. Generally free of125 demonstration/demo/dem charge to the prospect, and normally conducted at the prospects premises, but can be at another suitable venue, eg., an exhibition, or at the suppliers premises.
Also known as Secondary Research. This involves collecting data from existing sources and so using that which already exists, as opposed to Field, or Primary, Research. Secondary sources include internal sources126 Desk Research and external sources, such as the internet, government statistics, trade directories and so on. There are several potential problems associated with secondary research but it is often plentiful and free, or inexpensive The benefits a firm has over its competitors. This may be a brand’s USP or some advantage the firm has127 Differential Advantage through its operations, such as a low cost base or technology that it uses One of three target marketing strategies. It is where a firm targets many segments with a different marketing128 Differentiated Strategy mix for each segment129 Direct Close This is the simplest closing method and just involves asking the prospect for the order130 Direct Mail A method of below-the-line promotion that communicates directly with a target audience through the mail. Direct marketing may refer to direct distribution or direct promotions. Direct distribution involves a firm dealing directly with the end user, rather than through a middleman. Direct promotion involves a firm131 Direct Marketing communicating directly with a target audience or enabling the audience to communicate directly with them and includes: direct mail, the internet, personal selling, telemarketing, direct response advertising and e- mail Is both advertising and direct marketing. It involves using advertising media (above-the-line) to132 Direct Response Advertising (DRA) communicate with audiences and includes mechanisms for the target audience to communicate directly with the firm, such as: a phone number, address, e-mail or enquiry form133 discipline within the context of an organization this means the same as function, ie job role. A pricing strategy whereby a firm charges different prices for different market segments. Is also called134 Discrimination Pricing Segmentation Pricing The Place element of the marketing mix. It involves the process of getting the goods from the supplier to the135 Distribution user and involves channel management and physical distribution management.
Channelling goods from their origin to their ultimate destination and involves the use of intermediaries, or136 Distribution Channel middlemen such as wholesalers and retailers Researching to make distribution decisions. Cooper identifies 3 key areas : warehouse research,137 Distribution Research transportation research, retail outlet research The extent of market exposure that a firm provides it products with and depends on the type and image of138 Distribution Strategy product, its value and size and dispersion of customers. The three strategies are: Intensive, Selective, Exclusive the methods or routes by which products and services are taken to market. Sales distribution models are many and various, and are constantly changing and new ones developing. Understanding and establishing best sales distribution methods routes to market are crucial aspects of running any sales organisation, and any business organisation too. Sales distribution should be appropriate to the product and service, and the enduser market, and the model will normally be defined by these factors, influenced also by technology and social trends. For example, commoditised massmarket consumer products (FMCG fastmoving consumer goods, household electricals, etc) are generally distributed via massmarket consumer distribution methods, notably supermarkets, but also increasingly the internet. A lesson in changing sales distribution models, and the need for manufacturers and sellers to anticipate changes is found in the switching of book sales and CD139 distribution/sales distribution sales from retail store distribution to websites, with the resulting demise of many retailers in those sectors. Future changes in sales distribution will see for example music transferring increasingly via online downloads, thus threatening those involved with or dependent upon physical shipping of products. B2B (businesstobusiness) sales distribution models have their own shape, again dependent on products and services, customer markets, technology, plus other influences such as economical trends, environmental and legislative effects, etc. Examples of B2B sales distribution models are franchising, direct sales forces (employed), direct sales forces (sales agents), telephone sales (callcentres, outbound and inbound), the internet (online website businesses), distributors (independent sellers who carry products and services of other manufactuerers and principals), and channel partners and partnering arrangements (prevalent in telecomms and IT sectors). Also known as a wholesaler. Tend to buy in bulk, break bulk and sell and distribute to retailers, the trade or140 Distributor end users. Except for cash and carry wholesalers they give credit and transport to their customers. Many large retailers have undertaken Vertical Integration and developed their own wholesaling system
141 Disturbing Helping a prospect establish the consequences of not buying; tends to more effective in domestic selling142 Diversification A marketing strategy that a firm may pursue to develop new products in new markets Those who buy for their own consumption. This often involves more emotion than logic, although logic may143 Domestic Buyers still play a part. Factors influencing domestic buyers are: frequency, importance, social class . See also Consumer Buyer Behaviour144 Domestic Market This is a consumer market or where customers buy for personal consumption Also known as Downward Vertical Integration. Where an organisation expands downline, within the145 Downline Vertical Integration  distribution channel An example of downline vertical integration is a manufacturer developing its own wholesale or retail function Also known as Downline Vertical Integration. Where an organisation expands downline, within the146 Downward Vertical Integration distribution channel. An example of downward vertical integration is a manufacturer developing its own wholesale or retail function147 Early Payment Discount Is a reduction in price to the buyer for paying before the due invoice date, often paid on delivery the activity of buying and selling over an electronic data interchange... typically referred to when describing148 e-commerce the activity of buying and selling over the Internet and a web interface...149 E-commerce Selling goods electronically, usually over the Internet150 EFQM European Foundation for Quality Management The computer-to-computer exchange of business data in standard formats. The information is organised according to a specified format set by both parties, allowing a "hands-off" computer transaction that requires151 Electronic Data Interchange (EDI) no human intervention or re-keying on either end. All information contained in an EDI transaction set is, for the most part, the same as on a conventionally printed document. The use of electronic tills that enable product data to be read (usually from a bar code) so that information152 Electronic Point of Sale (EPOS) may be stored. This is used for stock replenishment and, when combined with information from loyalty cards, or similar, for contacting consumers with targeted offers Marketing effort using electronic means such as e-mail and the internet; incorporates e-commerce and153 E-marketing promotion
154 Empathy Statements These statements are made by the sales person to show that they understand how a buyer feels A declaration that a product or service is good: it may come from an opinion former, celebrity or satisfied155 Endorsement customer and is powerful in bolstering customer confidence A firm’s environment comprises its macro- and micro- environment (see relevant sections and External156 Environment Analysis). These are factors beyond the company’s control Sales and Marketing that takes account of the moral aspects of decisions such as telling the truth, selling157 Ethical Selling and Marketing products that will not harm consumers. Ethics are becoming increasingly important in sales and marketing158 Ethics Moral judgements: these tend to be subjective regarding what is right and wrong A distribution strategy involving limited market exposure and so a firm distributes via exclusive territory159 Exclusive Distribution outlets i.e. one outlet in each geographic area An evaluation of the external sales and marketing environment, including the macro- (or wider)160 External Analysis environment such as political, legal, economic, social and technological factors and the micro (or closer) environment such as markets and competitors. These factors are usually outside the control of the firm161 Extranet An intranet that is accessible to authorised external users. The two types of eye gesture identified by Cooper  are eye movements (upward and downward) and162 Eye Gestures pupil dilation features advantages benefits the links between a product description, its advantage over others, and the163 FABs gain derived by the customer from using it. One of the central, if now rather predictable, techniques used in the presentation stage of the selling process. The stages an individual goes through during their life egg single, married no children, married with young164 Family Life Cycle children and so on. It is often used as a method of demographic segmentation165 farmer a sales professional responsible for growing sales from existing accounts.166 Fast Moving Consumer Goods FMCGs
an aspect of a product or service, eg., colour, speed, size, weight, type of technology, buttons and knobs,167 Feature gizmos and gadgets, bells and whistles, technical support, delivery, etc. A fact about a product egg it is large or it is inexpensive. Sales people should sell on benefits but support168 Feature them with features means anywhere out of the sales office. Field sales people or managers are those who travel around meeting169 field people personally in the course of managing a sales territory. To be fieldbased is to work on the sales territory, as opposed to being officebased. Also known as Primary Research. This is research that is being undertaken for the first time, as opposed to170 Field Research Desk (secondary) Research. It is undertaken for a specific purpose; the three types of primary research are: surveys, observation and experimentation Where a firm sends its sales representatives or agents to businesses in order to sell to them. It includes firms171 Field Selling (or Marketing) selling to retail outlets to build brands and supporting sales.172 Financier The member of the DMU who pays for the product or service Fast Moving Consumer Goods: these are products that have a low price, fast turnover and, usually, short173 FMCGs life, such as packaged food, toiletries and tobacco products A method of survey, in primary marketing research where groups of up to eight respondents participate in174 Focus Groups discussions on the topic being researched; a group moderator guides the discussion without biasing the comments a predicted amount of revenue generation for a particular time period and/ or area of geography and/ or175 forecast industry... can also be used to describe a sales target (in revenue and/ or units) for a specified time period... also referred to as a quota, budget or goal. a prediction of what sales will be achieved over a given period, anything from a week to a year. Sales managers require sales people to forecast, in order to provide data to production, purchasing, and other functions whose activities need to be planned to meet sales demand. Sales forecasts are also an essential176 forecast/sales forecast performance quantifier which feeds into the overall business plan for any organization. Due to the traditionally unreliable and optimistic nature of salesdepartment forecasts it is entirely normal for the sum of all individual sales persons sales annual forecast to grossly exceed what the business genuinely plans to sell. See targets. May involve sales forecasting, market forecasting or technological forecasting (see relevant sections).177 Forecasting Involves estimating or calculating future events and performances
If there is an objection that comes up time and time again, the salesperson may raise it themselves and Forestall the Objection (Method of178 counter it. This means that they control its timing but, of course, it may be something the prospect hadn’t Dealing With Objections) thought about179 Four Ps See marketing mix A type of distribution channel where a franchisee buys a licence (or right) to sell a product or service from180 Franchise its owner (the franchisor), for a stated timescale. The franchisee usually pays a fee and royalties and the franchisor allows use of a brand name, may provide marketing support and know-how.181 Franchisee The person who buys the franchise i.e. the right to use the franchise name182 Franchisor The company, or person, who is the principal and sells the right to use the name etc. to the franchisee in the context of an organization, this means the job role or discipline, eg., sales, marketing, production,183 Function accounting, customer service, delivery, installation, technical service, general management, etc. an individual within an organization who is responsible for evaluating the potential value of a salespersons184 gatekeeper product or service for a particular decision maker and taking action accordingly (e.g., passing them along to the appropriate person, asking them to send something in the mail, etc.)... also called a screener. A role within the Decision Making Unit (DMU). The Gatekeeper is a person who enables or prevents185 Gatekeeper information from getting to the rest of the DMU; they may be a receptionist or PA. A method of analysing and segmenting markets by a combination of geographic and demographic variables;186 Geodemographics examples of geodemographic segments include ACORN, MOSAIC, SAGACITY187 Geographic Segmentation A method of segmentation where the market is classified by where they live or are located sale gestation period typically refers to the the time from enquiry to sale, the Sales Cycle in other words,188 gestation period (see Sales Cycle). Awareness and monitoring of Sale Gestation Period/Sales Cycle times are crucial in sales planning, forecasting and management, for individuals sales teams and sales organizations. These are a group of gestures that need to be considered collectively, rather than focusing on an individual189 Gesture Clusters gesture a sales target (in revenue and/ or units) for a specified time period... also referred to as a quota, budget or190 goal forecast.
A common way of defining an elderly population although the grey market is becoming more healthy,191 Grey Market wealthy and ‚youthful‛ This involves selling to a group of people and Cooper suggests that key tools for dealing with this situation are: planning and preparation, setting meeting objectives that are acceptable to the group, consider192 Group Communication variations in the group’s mode of communication, establish group body language, involve everyone, summarise and action (Also known as Warranties). Legal commitment of a company to repair, replace or compensate for faulty193 Guarantees goods and services194 Hard Fact Questions These questions probe specific facts such as the size of the organisation These indicate whether a person is telling the truth but need to be used with care. If the person is not being195 Honesty Gestures honest they will often put their hand to their face, scratch their nose or neck196 House to House Distribution Where a firm delivers product or marketing literature to the consumers home197 hunter a front line sales professional responsible for finding and bringing in new business. This is the fourth stage in Cooper’s Sales Cycle *3+. This is where the sales person should put both198 Ice-Break themselves and the prospect at ease and start to build a rapport. In a domestic sales situation this may take ten to fifteen minutes, a business sales situation should be shorter, normally no more than five minutes199 Inbound enquiry An enquiry about a firm’s product or service that comes from a prospect or customer an inquiry about your product or service thats initiated (usually by phone, email or in person) by a prospect200 inbound inquiry or customer... no prospecting needed... a gift from the sales angels... (Also known as Inducements). An enticement for a consumer to increase the attraction of buying a good or201 Incentives service. They are often in the forms of sales promotions such as free gifts and may also include permanent incentives such as money-back guarantees.
Also known as Business-to-Business (B2B) marketing where a firm markets goods or services to another202 Industrial marketing organisation a person in the prospect organization who has the power to influence and persuade a decisionmaker. Influencers will be generally be decisionmakers for relatively low value sales. There is usually more than one influencer in any prospect organization relevant to a particular sale, and large organizations will have203 Influencer definitely have several influencers. It is usually important to sell to influencers as well as decisionmakers in the same organization. Selling to large organizations almost certainly demands that the sales person does this. The role and power of influencers in any organization largely depends on the culture and politics of the organization, and particularly the management style of the two main decisionmakers. See decisionmakers. A role within the Decision Making Unit (DMU). Influencers may be people from inside or outside the204 Influencer purchasing firm but have influence over decision makers regarding the product/company that is bought. They are often experts in their field. A role within the Decision Making Unit (DMU). The Initiator is the person who starts the buying process205 Initiator and so may be206 inside sales usually refers to those who sell by phone and/ or do not leave the premises physically in a selling context this describes, or is, an aspect of the product or service offering that has a value but is207 Intangible difficult to see or quantify (for instance, peaceofmind, reliability, consistency). See tangible.208 Integrated Organisational Effort A firm where all departments and functions work together (usually to put the customer first) A distribution strategy involving a firm aiming for maximum market exposure. Usually involves retailers209 Intensive Distribution and/or vending machines and tends to be for goods such as FMCGs (see relevant section)210 Intermediary Middlemen within channels of distribution such as distributors, retailers and agents Where a firm analyses its internal situation suck as people, resources, products and marketing effort, to211 Internal Analysis enable them to overcome weaknesses and take advantage of opportunities in the environment
Internal customers are employees. All employees should be viewed as customers in several ways: each departments depends on the services of others; a marketing oriented firm needs to put customers first and212 Internal Customers that has to be ‚sold‛ to all staff and, in some firms, products and services, such as printing, are actually sold to other departments.213 Internal Marketing This involves marketing the marketing plan and customer focus to internal staff to gain their support214 International Sales and Marketing Sales and marketing of goods and services to overseas countries An internal network used to share information. It utilises internet technology and protocols and is protected215 Intranet by a firewall to prevent unauthorised users gaining access216 introduction first stage of the actual sales call (see opening). sales acronym... independent sales organization... term used to describe field sales forces that are not217 ISO employees of the companies which provide the products or services they sell.218 ISO International Standardisation Organisation Where a firm sets up a purchasing agreement with suppliers which involved stock being ordered and219 Just-in-Time (JIT) supplied at short notice . This prevents the cost of the customer holding stock and timing of delivery and quality tend to be more important than price for a firm requiring J-I-T220 KAISM Key account identification and selection matrix The identification of existing and potential high value customers and planning and controlling all activities221 Key Account Management in relation to retain and increase their business. A key account manager is often appointed Kinaesthetics involves touching and feeling; those buyers favouring kinaesthetic communication to visual222 Kinaesthetic Communication and audio tend to be driven by emotion and so it is often prevalent in domestic buying a person or organization that has shown an interest in a particular product or service... can also be used to223 lead describe a person or organization that sales or marketing staff feel may have a need for a particular product or service. A person or firm that has either shown an interest in a product or service or one that has been recommended224 Lead by someone else as having a potential interest225 leadtime time between order and delivery, installation or commencement of a product or service.
A diary detailing all learning and sources throughout a period of study. It is often part of a Personal226 Learning Log Development Plan a key selling skill, in that without good listening skills the process of questioning is rendered totally227 Listening pointless. the dollars generated from a customer over time because of the customers perceived hassles associated with228 lock-out revenue switching to a competitor.229 Log Book Diary of actions to be undertaken, usually for a week, broken into half-hour sections A visual symbol that identifies a company or brand. It usually comprises a name, logo and symbols and230 Logo should be consistent in its use Is a phrase used in retailing. It is a product that is sold at a low price (either at break-even or at a loss) in231 Loss leader order to attract customers into the store. The aim is that, once the customers are in the store, they should be tempted to buy other items which are priced to make a profit. Essential goods are often used as loss leaders The wider environment, or external factors, that impact a firms business, sales and marketing; they are232 Macro Environment usually beyond the firm’s control. They are often known as PEST or SLEPT factors (see relevant sections) a large and complex prospect or customer, often having several branches or sites, and generally requiring contacts and relationships between various functions in the supplier and customer organization. Often major accounts are the responsibility of designated experienced and senior sales people, which might be233 major account formed into a major accounts team. Major accounts often enjoy better discounts and terms than other customers because of purchasing power leveraged by bigger volumes, and lower selling costs from economies of scale. independent sales representatives that are not employed by the companies which provide the products and234 manufacturers rep services they sell... manufacturers reps typically represent multiple manufacturers in complementary industries and sometimes represent competing lines within industries. the difference between the selling price of a product or service and the cost of producing, delivering or235 margin acquiring the product or service.
the difference between cost (including or excluding operating overheads) and selling price of a product or service. Percentage margin is generally deemed to be the difference between cost and selling price, divided236 margin/profit margin by the selling price ex tax (eg something that costs £1 and is sold for £2 plus tax produces a 50% margin gross margin that is net margin is after overheads are deducted). The market chain is the chain of suppliers and customers extending to the end-user. Changes can occur at237 Market Chain any stage of the chain and the impact of such changes on you will depend on where you are in the chain.238 Market Development A marketing strategy of taking an existing product to new markets239 Market Entry Where a firm launches a new product into a new or existing market. A marketing strategy of developing business by selling more of existing products in existing markets. This240 Market Penetration may be undertaken through cross-selling, increasing promotions or distribution, taking competitors’ customers, expanding the market or increasing product usage Gathering, analysing data about the market to reduce risk and enable better marketing decisions to be made. It includes: estimates of market size and potential, identification of key market characteristics and segments,241 Market Research forecasting market trends and gathering information on existing and potential customers. It should not be confused with Marketing Research which involves researching broader subjects The identification and classification of meaningful buyer groups in order to target selected segments and242 Market Segmentation develop a relevant marketing mix. Market segmentation is the first stage of the Target Marketing Process. A firm’s sales of a specific product or range of products to a market, stated as a percentage of total sales of243 Market Share all that type of product to that market segment A term used by Cooper  to refer to what most marketers consider to be a prestige pricing strategy (also244 Market Skimming known as premium pricing); this is where a high price is charged for an exclusive product, often in a niche market. (See Skimming for recognised definition) This includes strategies where the major consideration is pricing a product based on what the market245 Market-Based Pricing considers it to be worth and is prepared to pay in order to maximise sales
a set of activities that assist in driving sales of a product and/ or service... see ambush marketing and viral246 marketing marketing. perceived by lots of business people to mean simply promotion and advertising, the term marketing actually covers everything from company culture and positioning, through market research, new247 marketing business/product development, advertising and promotion, PR (public/press relations), and arguably all of the sales functions as well. Its the process by which a company decides what it will sell, to whom, when and how, and then does it. See the marketing section. Marketing is the management process responsible for identifying, anticipating and satisfying customer248 Marketing requirements profitably. (CIM) Techniques that an organisation may use to communicate with specified target audiences. It includes249 Marketing Communications advertising, PR, sales promotion and personal selling and is also known as the ‚Promotion‛ element of the marketing mix Information that is obtained and stored to enable a firm to make effective marketing decisions: it differs250 Marketing Information from data as it is processed data and, therefore, more meaningful251 Marketing Information System Often known as a MKIS and is a planned and controlled system for gathering, sorting, storing The blend of controllable marketing variables that a firm uses in order to deal with the marketing252 Marketing Mix environment. It is called a ‚mix‛ as all elements must work effectively together to reflect a product of firm’s positioning. A philosophy of business whereby the firm puts the customer at the centre of their business. 253 Marketing Orientation Characteristics of a marketing oriented firm are:254 Marketing Strategy The strategic, or long-term, marketing plan this is the money that a selling company adds to the cost of a product or service in order to produce a required level of profit. Strictly speaking, percentage markup refers to the difference between cost and255 markup selling price as a factor of the cost, not of the selling price. So a product costing £1 and selling for £2 has been given a markup of 100%; (at the same time it produces a margin of 50%).
The profit from a product or service stated as a percentage of the cost of producing the product or service. It256 Mark-Up is often confused with Margin, which is the profit from a product or service stated as a percentage of the selling price257 Mass Market A very large segment or wide collection of smaller segments Material prepared with the aim of it being published in the press or other media. It is important that a media258 Media Release release is newsworthy and well written; they may include photographs and other suitable materials Part of the external environment that impacts a firm’s business, sales and marketing. It is closer to the firm259 Micro Environment than the macro-environment and tends to be industry-specific; it includes: markets, competitors, suppliers and other stakeholders (see relevant section) Cooper  considers this to be the most powerful aspect of body language for the sales person. It involves260 Mirroring adopting similar body language, stances and gestures to the other person: mirroring leads to a state of rapport These two acronyms are used interchangeably to mean Marketing Information Systems. Marketing Information Systems use market information and intelligence that has been gathered from marketing261 MIS/MkIS research, market intelligence and the organisation’s own internal accounting system. The information is input to the MIS/MkIS system to capture the data on a database.262 Mission Statement A firm’s business philosophy and direction; it is used to help a firm to develop its long-term plan Cooper  indicates that missionary selling is the same as third party endorsement but is usually recognised263 Missionary Selling as the hours in a sales professionals day where s/he can talk with prospects and/ or customers... the most264 money hours valuable hours of a salespersons day. Is a person employed to act as though they are a customer but are employed to provide detailed feedback on265 Mystery Shopper the performance of a company and its staff a selling style popularised in the 1970s and 80s which asserted that sales people could create needs in a prospect for their products or services even if no needs were apparent, obvious or even existed. The method was for the sales person to question the prospect to identify, discover (and suggest) organizational problems266 needscreation selling – or potential problems that would then create a need for the product. Im bound to point out that this is no substitute for good research and proper targeting of prospects who have use of the products and services being sold.
the trading of concessions including price reductions, between supplier and customer, in an attempt to shape a supply contract (sale in other words) so that it is acceptable to both supplier and customer.267 negotiation/negotiating Negotiations can last a few minutes or even a few years, although generally its down to one or two meetings and one or two exchanges of correspondence. Ideally, from the sellers point of view, negotiation268 New Business Development The acquisition of new customers The development of new products and involves research, development, product testing, test marketing and269 New Product Development (NPD) launch270 Niche Market A small or narrow market segment  NLP stands for Neuro Linguistic Programming, an art and science concerned with communication and271 NLP attitude. NLP provides a means of promoting excellence in both personal and professional development Comprises any communication which is not spoken. The main non verbal communication method is body272 Non Verbal Communication language, which includes the way you stand or sit, facial expressions, gesticulations, how you hold your head and use your eyes a point of resistance raised by a prospect, usually price ("its too expensive"), but can be anything at any273 Objection stage of the selling process; overcoming objections is a revered and muchtrained skill in the traditional selling process. A challenge to or rejection by a prospect feature or benefit of a firm, product or service. It may occur at any time during the sales process and the sales person should be prepared to counter these. They need to be aware of whether the objection is genuine, or a smoke screen. Cooper’s identification of techniques for274 Objection handling objections is limited  but the following are recognised ways of which all salespeople should be aware (there are others also): agree and counter, deny, question the objection, use as a trial close, forestall the objection (see relevant sections). Each method has its advantages and disadvantages and may be applicable to different objections and circumstances This method of closing the sale is appropriate when the buyer has made an objection and the salesperson275 Objection Close states that if the objection can be overcome will the buyer place the order Specific, measurable, achievable, relevant and times aims. A firm will usually have overall business objectives (relating to profit), marketing objectives (relating to market share, revenue, products and markets)276 Objectives and sales objectives relating (to revenue broken down by product, geographic area and individual sales people). Can also be used for an individual to set targets against
acronym... original equipment manufacturer... an acronym that originally defined a manufacturer who277 OEM produced a product to be sold under other companys brands... now used in the sales world to describe when a company makes a product and sells it to other companies so that they can sell it under their label. This term actually has two meanings. Originally, an OEM was a company that supplied equipment to other companies to resell or incorporate into another product using the resellers brand name. For example firms OEM (Original Equipment supplying a retailer like Comets and branding under the Comet own label. In recent years the term OEM278 Manufacturer) refers to the company that acquires a product or component and reuses or incorporates it into a new product with its own brand name. This is the definition that Cooper uses . Value-added reseller (VAR), has a similar meaning but relates to the repackaging of software.279 One Level Distribution Channel The Producer sells to the consumer (business or domestic) via one intermediary, egg a distributor or retailer These are a positive form of body language where a person does not appear to be protecting their body and280 Open Gestures so they do not have their legs crossed or arms folded; however, gesture clusters should be noted, rather than individual gestures a modern form of selling, heavily dependent on the sales person understanding and interpreting the prospects organizational and personal needs, issues, processes, constraints and strategic aims, which generally extends the selling discussion far beyond the obvious product application; (in a way, its rather like combining selling with genuinely beneficial, free, expert consultancy). In open plan selling the seller identifies strategic business aims of the sales prospect or customer organization, and develops a proposition281 open plan selling that enables the aims to be realised. The proposition is therefore strongly linked to the achievement of strategic business aims typically improvements in costs, revenues, margins, overheads, profit, quality, efficiency, timesaving and competitive strengths areas. There is a strong reliance on seller having excellent strategic understanding of prospect organization and aims, market sector situation and trends, and access to strategic decisionmakers and influencers. a question that gains information, usually beginning with who, what, why, where, when, how, or more282 open question subtly tell me about.. Are questions in marketing research which allow the respondent to answer in any way. They provide283 Open Questions qualitative data as opposed to quantitative data that is elicited from Closed Questions. They start with words such as Who? What? Where? How? Why? When? the first stage of the actual sales call (typically after preparation in the Seven Steps of the Sale). Also called284 open/opening the introduction.
traditionally an initial impact statement for sales people to use at first contact with prospect, in writing, on the phone or facetoface the OBS generally encapsulates the likely strongest organizational benefit typically (or supposedly) derived by customers in the prospects sector, eg., "Our customers in the clothing retail285 opening benefit statement/OBS sector generally achieve 3050% pilferage reduction when they install one of our Crooknabber security systems..." N.B. The OBS is a relatively blunt instrument for modern selling use it with extreme care for fear of looking like a total twerp. Not wasting money so savings can be spent directly on the customer (through low prices), or indirectly286 Operational efficiency (through product quality or investment in technology) A firm’s culture – Production Orientation, Sales Orientation, and Marketing Orientation cover the different287 Orientation eras in the focus of firms.  This term has two meanings. Originally, an OEM was a company that supplied equipment to other companies to resell or incorporate into another product using the resellers brand name. For example firms Original Equipment Manufacturer supplying a retailer like Comets and branding under the Comet own label. In recent years the term OEM288 (OEM) refers to the company that acquires a product or component and reuses or incorporates it into a new product with its own brand name. This is the definition that Cooper uses . Value-added reseller (VAR), has a similar meaning but relates to the repackaging of software. These are premises where many telephone lines are routed into numerous telephone operators who work at the call centre, usually using headsets and computers. They may operate on behalf of one organisation, or be289 Outbound Call Centre contracted to many. Being outbound, they not only receive calls but their main function is to make telemarketing calls; they are also called Sales Call Centres.290 outside sales usually refers to those who sell by visiting others in-person in a selling context this is another term for the product offer; its the whole product and service offering at a291 package given price, upon given terms. Part of both the Product element of the Marketing Mix and Promotions element. Provides functional benefits292 Packaging of protection and communications function of brand identity, awareness at the point of sale and a reminder in the home; also, often has a legal function293 Paraphrasing Repeating what is said in your own words to ensure the message is understood very modern approach to organizational selling for businesstobusiness sales see collaboration and294 partnership selling partnership selling. This is where a member of staff or provider of a service, such as an agent or advertising agency, is295 Payment By Results (PBR) remunerated based on achievement of objectives: an example is where a sales person is paid on a commission only basis
Personal Development Plan. A plan developed by an individual that assesses their strengths, weaknesses,296 PDP opportunities and threats and sets career and learning objectives and plans how to achieve these A pricing strategy whereby a firm charges a low price in order to increase sales. Demand must be elastic i.e.297 Penetration Pricing responsive to changes in price and the price should not harm the image of the brand how something is seen or regarded by someone, usually by the prospect or customer, irrespective of what298 Perceived is believed or presented by the seller, ie what it really means to the customer. a negative result that occurs because one does not fully attempt to achieve an outcome because of a message sent by influential individuals that is perceived as a "permission to fail" or implied acceptance of the299 permission-based failure reduced attempt... common statements prompting implied acceptance include-- "What happens< happens." or "The important thing is that you tried." Also known as a PDP. A plan developed by an individual that assesses their strengths, weaknesses,300 Personal Development Plan opportunities and threats and sets career and learning objectives and plans how to achieve these The area around an individual that they do not wish to be invaded: it tends to vary between personal and301 Personal Space business situations Political, Economic, Socio-cultural and Technological - a way of defining the macro environment and an302 PEST alternative to SLEPT and PESTLE (see relevant sections) An alternative way of defining the macroenvironment from PEST and SLEPT (see relevant sections). It303 PESTLE stands for: Political, Economic, Socio-cultural, Technological, Legal and Environmental Also known as logistics. Is part of the Place element of the marketing mix and involves the physical304 Physical Distribution management movement of goods from seller to consumer; it includes: warehousing, transportation, stockholding and order processing One of the 7Ps of the extended Marketing Mix for services. It comprises those factors that customers can see305 Physical Evidence or experience when obtaining or using a service. They might include: the look of premises and the provision of tangibles, such as soaps and shampoos in a hotel306 pipelin see sales pipeline. The Distribution element of the marketing mix. It involves the process of getting the goods from the supplier307 Place to the user and involves channel management and physical distribution management. This is also known as POP, Point of Purchase. It usually relates to retail outlets and includes where goods308 Point of Sale (POS) are located, displays, stands and signs to draw attention to the goods309 Portfolio The range of products or services that a company offers to its customers The third stage of the target marketing process following segmentation and targeting. It is the creation of an310 Positioning image for a firm, product, service or brand in the minds of customers and compared with competitors. Firms and brands may be positioned by feature, benefit, user, country of origin and so on
‘< a tool to link deeper understanding of customer needs and sense of value with a move to action’ *3+. A theory from Cheverton  merging the value chain and the market chain to move towards solution selling.311 Positive Impact Analysis/PIA ‘In pursuit of value, each part of the chain will be looking for the impact it can have on solutions for the final customer’ *3+.312 Positive Mental Attitude/PMA Positive Mental Attitude: a frame of mind which considers solutions rather than problems313 Post-Sale A major stage in the sales cycle and comprises those activities that are undertaken by a salesperson after an Another name for Prestige Pricing. A pricing strategy whereby a firm charges a high price because of the314 Premium Pricing (perceived) quality and image of the product and/or brand in the context of the selling process this is the work done by the sales person to research and plan the sales approach and/or sales call to a particular prospect or customer. Almost entirely without exception in the315 preparation global history of selling, no call is adequately prepared for, and sales that fail to happen are due to this failing. This is the third stage in Cooper’s Sales Cycle *3+. He identifies four main factors: route planning, diary316 Preparation planning, research and frame of mind A major stage in the sales cycle and comprises those activities that are undertaken by a salesperson before an317 Pre-Sale actual sales visit takes place, or sales telephone call is made: typically includes prospecting, appointment making and preparation, including research. Pre-sale precedes the sale and post-sale stages The presentation stage of the sales cycle follows the sales person having identified the prospect’s need or318 Presentation problem. It requires the salesperson to sell in the benefits of the product or service supported by its features. They should inform the prospect of the USP and gain the prospect’s agreement the process by which a sales person explains the product or service to the prospect (to a single contact or a group), ideally including the products features, advantages and benefits, especially those which are relevant319 presentation/sales presentation to the prospect. Presentations can be verbal only, but more usually involve the use of visuals, commonly bulletpoint text slides and images on a computer display or projected onto a screen. Can incorporate a video and/or physical demonstration of the product(s). See the presentation training section. A pricing strategy whereby a firm charges a high price because of the (perceived) quality and image of the320 Prestige Pricing product and/or brand. Also known as Premium Pricing321 Pricing Research Research in order to determine the optimum price Pricing strategies are the broad prices that a firm charges: these are: Skimming (or Skin-The-Cream),322 Pricing Strategies Penetration Pricing, Prestige Pricing, Competitive Parity, What The Market Will Bear and Discrimination Pricing (also known as Segmentation Pricing
Also known as Field Research. This is research that is being undertaken for the first time, as opposed to323 Primary Research Secondary Research. It is undertaken for a specific purpose; the three types of primary research are: surveys, observation and experimentation This is the fifth stage in Cooper’s Sales Cycle *3+. It is linked with need identification as the prospect may have a problem to be solved which has led to the need. Cooper states that this is the single most important aspect of any selling situation and it is universally recognised that if the sales person does not know the real need, or problem, they cannot offer the true benefits to help resolve the situation. Needs and problems are324 Problem Identification established through effective questioning and active listening, defining buying criteria, prioritising criteria and summarising all needs and desires have been confirmed and understood. Cooper states that the process for need/problem identification can be summarised by the mnemonic NASA: Need, Acceptance, Solution, Acceptance A method of business segmentation where the market is classified according to processes it uses, such as the325 Processes segmentation level of technology generally a physical item being supplied, but can also mean or include services and intangibles, in which326 product case product is used to mean the whole package being supplied. A model indicating the stages a product goes through from pre-launch to withdrawal from the market: most327 Product Life Cycle commonly, there are four and five stage models. how the product and/or service is positioned and presented to the prospect or market, which would normally include features and/or advantages and also imply at least one benefit for the prospect (hence a328 product offer single product can be represented by a number of different product offers, each for different market niches (segments or customer groupings). One of the great marketing challenges is always to define a product offer concisely and meaningfully. An element of the Promotions Mix where a product or service is used within a television or radio329 Product Placement programme, or a film for example the use of a BMW Z8 in a James Bond film. In the UK there are strict guidelines as to how products appear on television and that they cannot be paid for Research aspects of product development. Cooper identifies 6 key areas : generation of new product330 Product Research ideas, testing ideas, developing prototypes, testing prototypes, test marketing, Adjusting the marketing mix prior to launch A philosophy of business whereby the firm’s focus is on product excellence or technology. May be necessary331 Production Orientation in a highly technological environment. Characterised by focusing company efforts on producing goods or services  The services provided by firms and individuals that are qualified and/or accredited by professional bodies,332 Professional Services such as accountants, solicitors, surveyors and chartered marketers.
All marketing communications tools that are used together, for individual campaigns, to achieve communications objectives in relation to specific target audiences. The mix varies according to objectives, target audiences and budget and may include: advertising, personal selling, sales literature, public relations333 Promotions Mix (which can include exhibitions and sponsorship), direct marketing (which includes direct mail, telemarketing, direct response advertising, e-mail, internet), sales promotion, packaging, point of sale and product placement usually a written offer with specification, prices, outline terms and conditions, and warranty arrangements, from a sales person or selling organization to a prospect. Generally an immensely challenging part of the334 proposal/sales proposal process to get right, in that it must be concise yet complete, persuasive yet objective, well specified yet orientated to the customers applications. An outline proposal is often a useful interim step, to avoid wasting a lot of time including in a full proposal lots of material that the customer really doesnt need. usually means product offer, can mean sales proposal. The initial proposition means the basis of the first335 Proposition approach.336 prospect a customer (person, organization, buyer) before the sale is made, ie a prospective customer. Professional Selling Skills highly structured selling process pioneered by the US Xerox (and UK Rank Xerox) photocopier sales organization during the 1960s, and adopted by countless businesstobusiness sales organizations, normally as the Seven Steps of the Sale, ever since. PSS places a huge reliance on337 PSS presentation, overcoming objections and umpteen different closes. Largely now superseded by more modern Open Plan twoway processes, but PSS is still in use and being trained, particularly in oldfashioned paternalistic company cultures. The regimented oneway manipulative style of PSS nowadays leaves most modern buyers completely cold, but strip it away to the bare process and its better than no process at all. A method of segmentation whereby the market is divided into groups of people who have the same lifestyle338 Psychographic Segmentation which encompasses values, attitudes and interests The planning and implementation of communication activities to establish and maintain the reputation of a firm and its brands, within identified target audiences, often including the general public. PR is often339 Public Relations undertaken at a corporate level and PR techniques include: media releases, conferences, corporate hospitality, charitable work and the use of badging (for example giving away free t-shorts with company logo) Pull promotion is a strategy whereby the producer targets the end user with their promotions with the intention of them demanding the product from the intermediary and so, in fact, pulling it through the340 Pull Promotional Strategy channel of distribution. Promotional methods commonly used are consumer advertising and sales promotions. A firm will often undertake both pull and push promotional strategies (and profile)
Push promotion is a strategy whereby the producer targets the intermediary with their promotions and so on through the distribution chain e.g. a wholesaler targets a retailer. The aim is to push the product through341 Push Promotional Strategy the channel of distribution to the customers. Promotional methods commonly used are trade sales promotions, personal selling and, to a lesser extent, some trade advertising. A firm will often undertake both pull and push promotional strategies (and profile)342 qualify to determine the purchasing potential of a suspect, prospect or customer Where a sales person establishes purchasing potential of a prospect and also determines that the person343 Qualify they are talking to has the relevant decision-making authority A form of marketing research whereby opinions and ideas are elicited. Rather than using closed question questionnaires, the researcher undertakes interviews, focus groups and similar techniques. The findings are344 Qualitative Research more detailed and subjective than those from quantitative research and so, although often of greater value, they are more difficult to evaluate and present A form of marketing research whereby facts are obtained that can be analysed in a statistical format; for example 60% of the population read a newspaper at least once a week. Quantitative data is obtained345 Quantitative Research primarily through the use of closed questions in questionnaires such as opinion polls and customer satisfaction surveys Is a reduction in price to the buyer for buying a specific quantity: often, the larger the quantity, the more the346 Quantity Discount discount If a prospect raises a vague objection it can be difficult to deal with: the salesperson needs to find out the Question the Objection (Method of347 specific issue, which may actually be very small egg if they say a product is awful ask what specific aspect Dealing With Objections) they dislike. the second stage of the sales call, typically after the opening or introduction in the Seven Steps of the Sale. A crucial selling skill, and rarely well demonstrated. The correct timing and use of the important different348 Questioning types of questions are central to the processes of gathering information, matching needs, and building rapport and empathy. Questioning also requires that the sales person has good listening, interpretation and empathic capabilities. See the questioning section. The use of effective questioning skills to establish a prospects needs. Cooper  indicates that these should349 Questioning Techniques include: listen more than talk, ask open questions, use confirmatory closed questions, ask soft and hard fact questions and use empathy statements (see relevant sections) a sales target (in revenue and/ or units) for a specified time period... also referred to as a goal, budget or350 quota forecast.351 R & D Research and development: a function undertaken to develop new products Developing empathy with the customer: Cooper  identities three inputs to rapport: create an environment352 Rapport of ease, establish common ground, use similar communication signals The price at which a company recommends their retailers sell the item to the consumer. Since the 1960s it353 Recommended Retail Price (RRP) has been illegal, in most cases, to force retailers to sell at this price
Those groups with which a customer identifies in some way and they can have a positive or negative354 Reference Group influence on their buyer behaviour. Examples include those whose opinions are valued such as sports personalities, also families, friends and work colleagues the strongest form of advertising and/ or one of the best forms of a lead... used to describe a prospect that is355 referral given to a salesperson by a current customer or prospect... requests for referrals are often forgotten by even the best salespeople. A prospect, or lead, provided to a salesperson as being someone who may be interested in what the356 Referral salesperson is selling the act of gathering information about a market or customer, that will help progress or enable a ales approach. Often seen as a job for telemarketing personnel, but actually more usefully carried out by sales357 research/research call people, especially where large prospects are concerned (which should really be the only type of prospects targeted by modern sales people, given the need to recover very high costs of sales people). an organization or individual that sells a product made (and sometimes serviced) by someone else...358 reseller sometimes used interchangeably with the words "distributor" and "VAR"359 Retailer An outlet, and part the distribution chain, that sells directly to consumers means simply keeping customers and not losing them to competitors. Modern companies realise that its far more expensive to find new customers than keep existing ones, and so put sufficient investment into looking360 retention/customer retention after and growing existing accounts. Less sensible companies find themselves spending a fortune winning new customers, while they lose more business than they gain because of poor retention activity. (The hole in the bucket syndrome, where it leaks out faster than it can be poured in.) Is payment made back to the buyer at the end of an agreed period if the total purchases for that period reach361 Retrospective Discount an agreed amount. Is used when the buyer does not know, in advance, the quantity required for the period In sales this tends to be used on a reluctant or hesitant buyer, where the sales person gives them the benefits362 Reverse Psychology of not buying. It is a technique that must be used with care A major stage in the sales cycle and comprises those activities that are undertaken by a salesperson during an actual sales visit or on the telephone: typically includes ice break and rapport, needs/problem363 Sale identification, presentation, negotiation, handling objections, closing. It follows pre-sale activity and preceded post-sale activity the top line of the income statement and the driving force of all organizations, ideas and progress... also364 Sales used to describe the greatest profession in history and greatest skill one can ever have... (did you expect something less?)
These are premises where many telephone lines are routed into numerous telephone operators who work at the call centre, usually using headsets and computers. They may operate on behalf of one organisation, or be365 Sales Call Centre contracted to many. Being sales call centres, they not only receive calls but their main function is to make telemarketing calls; they are also called Outbound Call Centres the Sales Cycle term generally describes the time and/or process between first contact with the customer to when the sale is made. Sales Cycle times and processes vary enormously depending on the company, type of business (product/service), the effectiveness of the sales process, the market and the particular situation applying to the customer at the time of the enquiry. The Sales Cycle time is also referred to as the Sale366 sales cycle Gestation Period (ie from conception to birth enquiry to sale). The Sales Cycle in a sweet shop is less than a minute; in the international aviation sector or civil construction market the Sales Cycle can be many months or even a few years. The funnel diagram and sales development process on the free resources section show the sales cycle from a different perspective, (and actually prior to enquiry stage). A typical Sales Cycle for a moderately complex product might be: A complete process which can be applied in the selling environment. Different texts indicate a different367 Sales Cycle number of stages although they all tend to follow the same pattern, even though some stages may occur at any time during the sales process. It is widely recognised that there are three main stages: pre-sale, sale and also called sales projections, these are the predictions that sales people and sales managers are required to make about future business levels, necessary for their own organisation to plan and budget everything from368 sales forecasts stock levels, production, staffing levels, to advertising and promotion, financial performance and market strategies. describes the pattern, plan or actual achievement of conversion of prospects into sales, preenquiry and then369 sales funnel through the sales cycle. Socalled because it includes the conversion ratio at each stage of the sales cycle, A philosophy of business whereby the firm’s focus is on selling, rather than the customer. Although selling is a critical activity, even in a market, or customer, oriented firm, a sales oriented firm is not a good370 Sales Orientation philosophy to have. It involves a firm trying to push customers to buy what they do not necessarily need or want. a linear equivalent of the Sales Funnel principle. Prospects need to be fed into the pipeline in order to drop371 sales pipeline – out of the other end as sales. The length of the pipeline is the sales cycle time, which depends on business type, market situation, and the effectiveness of the sales process. One element of the Promotions Mix and involves a range of temporary inducements that includes: coupons, free gifts, competitions, BOGOF (buy one get one free), temporary interest free credit and so on. Trade sales372 Sales Promotion promotions are an important form of push strategy and may include temporary interest free credit, sale or return, free promotional material, extra boxes free a business report of sales results, activities, trends, etc., traditionally completed by a sales manager, but373 sales report increasingly now the responsibility of sales people too. See the sample monthly sales report template
The income made by a firm before any deductions have been made. Sales revenue from an individual order374 Sales Revenue is calculated as Price times Volume A pronounced feature or part, a highlight, that which is important to customers. Mitchell, Agle, and Wood (1997) developed a theory of stakeholder identification and salience based upon stakeholder possession of one or more of three attributes: power, legitimacy, and urgency (Ronald K. Mitchell, Bradley R. Agle, and375 Salience Donna J. Wood, "Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts" Academy of Management Review, Vol. 22, No. 4, 1997, 298.) Salience is sometimes defined as the degree to which managers give priority to competing stakeholder claims an individual within an organization who is responsible for evaluating the potential value of a salespersons376 screener product or service to a particular decision maker and taking action accordingly (i.e., passing them along to the appropriate person, asking them to send something in the mail, etc.)... also called a gatekeeper. Also known as Desk Research. This involves collecting data from existing sources and so using that which already exists, as opposed to Primary Research. Secondary sources include internal sources and external377 Secondary Research sources, such as the internet, government statistics, trade directories and so on. There are several potential problems associated with secondary research but it is often plentiful and free, or inexpensive a part of the market that can be described, categorised and then targeted according to its own criteria and characteristics; sectors are often described as vertical, meaning an industry type, or horizontal, meaning378 sector/market sector some other grouping that spans a number of vertical sectors, eg., a geographical grouping, or a grouping defined by age, or size, etc. a subsector or market niche; basically a grouping thats more narrowly defined and smaller than a sector; a379 segment/market segment segment can be a horizontal subsector across one or more vertical sectors. A pricing strategy whereby a firm charges different prices for different market segments. Is also called380 Segmentation Pricing Discrimination Pricing A distribution strategy involving a firm limiting the number of outlets it sells its products from possibly381 Selective Distribution because of special storage or knowledge requirements, legal requirements or just because consumers would be willing to travel to buy the goods When the salesperson evaluates their own performance regarding what they did well and what they could382 Self Evaluation have done better The ability to enable a sales person to have the desire to do well; it id enhanced by having a positive mental383 Self-Motivation attitude. Cooper  identifies four key factors to help develop self-motivation: belief in oneself, belief in the product or service, self-evaluation, having a driving force
Personal communication between a seller and (prospective) purchaser. As well as a critical role in itself, it384 Selling can be considered part of the Promotions function of the Marketing Mix. A service is an intangible product that has five key characteristics that create problems for the marketer and sales person; these are: intangibility (it cannot be seen or touched); Inseparability (it is produced and385 Service (Marketing) consumed at the same time); Heterogeneity (it is inconsistent in quality as it relies on people delivering the service); Perishability (it cannot be stored); Lack of Ownership (it cannot be owned). These problems lead the marketer to extend the Marketing Mix for services to the 7Ps, rather than the 4Ps as for products a formal document usually drawn up by the supplier by which the trading arrangement is agreed with the386 service contract customer. Also known as trading agreements, supply agreements, and other variations. See the section on service contracts and trading agreements. A legal part of a contract that states a guaranteed level of service; it often includes penalties for not387 Service Level Agreement achieving those levels of service A pricing strategy where the firm sets the price high in the early stages of the product life cycle to cover high development costs and achieve as much profit as possible before prices are driven down by competitors388 Skimming/Skim the Cream Pricing entering the market or new technologies overtaking. Is a common strategy in electronics markets where ‚innovators‛ are prepared to pay a high price for a new technology389 SME Small to Mid-Sized Enterprise an objection given by a prospect or customer thats not the primary objection to moving forward... its usually given to divert the salesperson from addressing the primary objection of the prospect or customer and/ or simply because the prospect or customer feels they must object at least once or twice to strengthen their position in a negotiation or sales process... (primary objections can include a lack of perceived value in390 smoke screen (objection) a product or service offering, a perception of an inferiority to a competitive offering, a lack of perceived urgency in purchasing the offering, an unknown internal political issue between departments, an unknown corporate initiative with an external party, a lack of funds to purchase the offering, an unknown personal issue with the decision maker(s) and an "its safer to do nothing" perception by the prospect or customer)... A business philosophy which takes into account the interests of society as a whole as well as aiming to391 Societal Marketing Concept satisfy the needs of the customer Also known as Social Class. A classification of people who have similar levels of wealth defined through the types of job they do. There are various ways of defining social class: marketers sometimes used this as a method of demographic segmentation and normally use those identified by the media where the classes are392 Socio-Economic Group defined as A, B, C1, C2, D and E. An example is those in social class A are defined as ‚Upper middle class‛ and comprise senior managers such as MDs, barristers, surgeons and so on. This method of segmentation is increasingly having less credibility than others
393 Soft Fact Questions These questions probe regarding opinion, feelings and thoughts a common but looselyused description for a more customerorientated selling method than the Seven Steps;394 solutions selling dependent on identifying needs to which appropriate benefits are matched in a package or solution. The Where a firm aims to use or manipulate the media to their advantage; often through PR. Tends to have395 Spin negative connotations A popular selling method developed by Neil Rackham in the 197080s: SPIN® is an acronym derived from the basic selling process designed and defined by Rackham: Situation, Problem, Implication, Need, or Need Payoff. More detail about SPIN® and SPIN® Selling appears in the Consultative Selling and Needs Creation396 SPIN® and SPIN® Selling Selling methods section. Note that SPIN® and SPIN SELLING® methods and materials are subject to copyright and intellectual property control of the Huthwaite organisations of the US and UK. SPIN® and SPIN SELLING® methods and materials are not to be used in the provision of training and development products and services without a licence. See SPIN® copyright details. A form of Promotion, often considered PR, where a firm provides support for an event, venture, person or397 Sponsorship charity in order to obtain positive publicity Those people and organisations that have some interest in a business and/or the business has an interest in398 Stakeholders them. Stakeholders may include: shareholders, employees, members of the local community, customers, suppliers, intermediaries, local or national government, local publics, regulatory bodies Codes used to group businesses according to the type of industry they are in. The government produces Standard Industrial Classifications399 industrial statistics by SIC code, or sector. It is sometimes used to segment business and is a demographic (SIC) base as it reflects the type of industry describes the structure of the selling process, particularly the sales call, and what immediately precedes and400 steps of the sale follows it. Usually represented as the Seven Steps of the Sale, but can be five, six, eight or more, depending whose training manual youre reading. Straight Denial (Method of Dealing This involves informing the prospect that they are mistaken. It can be used when the objection is inaccurate401 with Objections) but Where a firm thinks and plans for the long-term and has a marketing person at senior management level to402 Strategic Orientation be the champion of the customer; this also enables resources to be allocated for the benefit of the customer
you will also hear people (me included) referring to strategic selling in a generic sense, and not specifically referring to the Miller Heiman methods and materials. In a generic lower case sense, strategic selling describes a broad methodology which began to be practised in the 1980s, literally strategic by its nature (the principles involve taking a strategic view of the prospective customers organisation, its markets, customers and strategic priorities, etc), which is described below and referred to as open plan selling. When403 strategic selling using the strategic selling terminology in a training context you must be careful therefore to avoid confusion or misrepresentation of the Miller Heiman intellectual property. If in any doubt dont use the strategic selling term in relation to providing sales training services call it something else to avoid any possible confusion with the Miller Heiman products, (see the Miller Heiman Strategic Selling® copyright details below. A part of need identification in the sales process when a sales person must check back with the prospect to404 Summarisation confirm that all needs and desires have been covered and understood 405 Summarise And Direct Close This method of closing is where the salesperson summarises the key benefits before asking for the order. The chain or network from suppliers, manufacturers, distributors and other intermediaries involved in the406 Supply Chain production and delivery of a product to the final consumer A method of collecting data where the researcher makes a systematic record of responses from all407 Survey respondents who have answered the same questions An individual or firm that has the potential to be a prospect but with whom the sales person has not yet408 Suspect made contact A technique of analysis which studies Strengths, Weaknesses, Opportunities and Threats. This can be409 SWOT Analysis undertaken for a firm, as part of their sales and marketing plans, or an individual as part of their PDP (Personal Development Plan) and can be developed from a detailed audit in a selling context this describes, or is, an aspect of the product or service offering that can readily be seen410 tangible and measured in terms of cost and value (eg., any physical feature of the product; spare parts; delivery or installation; a regular service visit; a warranty agreement). See intangible.
in a sales context this is the issued (or ideally agreed) level of sales performance for a sales person or team or department over a given period. Bonus payments, sales commissions, pay reviews, job gradings, life and death, etc., can all be dependent on sales staff meeting sales targets, so all in all sales targets are quite411 target/sales target sensitive things. Targets are established at the beginning of the trading year, and then reinforced with a system of regular forecasting and reviews (sometimes referred to as a good bollocking) throughout the year. See forecasting. The full name is Market Targeting. This is the second stage of the Target marketing process and involves evaluating and selecting the segments to target and deciding on a targeting strategy. The three potential targeting strategies are: a concentrated strategy (where the firm targets a niche market with one specific412 Targeting tailored marketing mix), an undifferentiated strategy (where the firm targets many segments but with one overall marketing mix) and a differentiated strategy (where the firms targets many segments but with a different marketing mix for each segment) any presales activity conducted by telephone, usually by specially trained telemarketing personnel for413 Telemarketing instance, research, appointmentmaking, product promotion. The marketing of a product or service directly to a customer by telephone: this may be involve sales,414 Telemarketing research or customer care A database of both businesses and individual consumer who have requested not to receive unsolicited direct415 Telephone Preference Service (TPS) marketing calls; it is illegal not to comply with the wishes of individual consumers, although not businesses selling by telephone contact alone, normally a sales function in its own right, ie., utilising specially trained416 telesales telesales personnel; used typically where low order values prevent the use of expensive fieldbased sales people, and a recognisable product or service allows the process to succeed.417 Teleselling Selling goods or services directly to a customer through use of the telephone a very structured formal proposal in response to the issue of an invitation to tender for the supply of a product or service to a large organization or government department. Tenders require certain qualifying criteria to be met first by the tendering organization, which in itself can constitute several weeks or months work by lots of different staff. Tenders must adhere to strict submission deadlines, contract terms,418 tender specifications and even the presentation of the tender itself, and usually only suppliers experienced in winning and fulfilling this type of highly controlled supply ever win the business. It is not unknown for very successful tendering companies to actually help the customer formulate the tender specification, which explains why its so difficult to prise the business away from them.419 Territory the geographical area of responsibility of a sales person or a team or a sales organization.
the process of planning optimum and most costeffective coverage (particularly for making appointments or personal calling) of a sales territory by the available sales resources, given prospect numbers, density,420 territory planning buying patterns, etc., even if one territory by one sales person; for one person this used to be called journey planning, and was often based on a four or six day cycle, so as to avoid always missing prospects who might never be available on one particular day of the week.421 Test Marketing The testing of the Marketing Mix of a product in a sample area prior to a full launch These show that the person is considering something and tend to be hand to head gestures, such as rubbing422 Thoughtful Gestures the head or scratching the chin; the sales person should not interrupt these Focuses on satisfaction of customer needs in combination with the achievement of objectives and covers:423 Total Quality Management (TQM) quality, availability, service, support, reliability, value for money and needs to consider: the customer, corporate planning, management, personnel, physical evidence  Those who buy on behalf of an intermediary in order to sell on. This involves more logic than emotion,424 Trade Buyers although emotion still plays a part. Factors influencing trade buyers are: price, bulk purchase, quality, repeat business, payment terms, availability of just-in-time . See also Business Buyer Behaviour425 Trade Marketing Marketing of goods and services to the retail and distributive trades the technique by which a sales person tests the prospects readiness to buy, traditionally employed in response to a buying signal, eg: prospect says: "Do you have them in stock?", to which the sales person426 trial close would traditionally reply: "Would you want one if they are?" Use with extreme care, for fear of looking like a clumsy desperate fool. If you see a buying signal theres no need to jump on it just answer it politely, and before ask why the question is important, which will be far more constructive. If the salesperson feels that the timing is right and the buyer has just one objection left, they can try to turn it Trial Close (Method of Dealing With into a trial close. A trial close is where the salesperson tries to close the sale but, if it doesn’t work, it doesn’t427 Objections) prevent him from continuing with the selling process. The salesperson would possibly ask that if they could overcome the objection would the prospect place the order The Producer sells to the consumer (business or domestic) via two intermediary, egg a distributor and then428 Two Level Distribution Channel on to a retailer One of three target marketing strategies. It is where the firm targets many segments but with one overall429 Undifferentiated Strategy marketing mix430 unique/uniqueness a feature that is peculiar to a product or service or supplier no competitor can offer it. unique perceived benefit now one of the central strongest mechanisms in the modern selling process, an431 UPB extension and refinement of the product offer, based on detailed understanding of the prospects personal and organizational needs.
Also known as Upward Vertical Integration. Where an organisation expands within the distribution channel432 Upline Vertical Integration  An example of upline vertical integration is a retailer developing its own wholesaling or manufacturing function433 Up-sell to sell a prospect/ customer a product or service of higher value Also known as Upline Vertical Integration . Where an organisation expands within the distribution434 Upward Vertical Integration channel An example of upline vertical integration is a retailer developing its own wholesaling or manufacturing function435 User A role within the Decision Making Unit (DMU) unique selling point or proposition this is what makes the product offer competitively strong and without436 USP direct comparison; generally the most valuable unique advantage of a product or service, for the market or prospect in question; now superseded by UPB. Taken from NLP, this stands for Visual, Audio and Kinaesthetic and these are the three most usual modes of communication. VAK explains how we see, hear and feel things during a communication. Those favouring visual communication respond to pictures, demonstrations and images. Those favouring audio437 VAK communication tend to respond to words and sounds and are often logical in approach. Those favouring kinaesthetic communication tend to be concerned with emotion and are often tactile; this is often prevalent in domestic buying A value chain analysis is a list of the identified customer activities with problems and potential solutions438 Value Chain listed against them. The potential solutions are the ‘positive impact’ *3+439 Value propositions the specific and definitive offer of value from one organization to another. sales acronym... value added reseller... term generally used to describe an organization that sells another440 VAR organizations product after adding features to it. an aspect of the sale or deal that can be changed in order to better meet the needs of the seller and/or the buyer. Typical variables are price, quantity, leadtime, payment terms, technical factors, styling factors, spare441 variable parts, backup and breakdown service, routine maintenance, installation, delivery, warranty. Variables may be real or perceived, and often the perceived ones are the most significant in any negotiation. See the section on negotiation. Where an organisation expands upward, also known as upline , or downward, also known as downline , within the distribution channel An example of upline vertical integration is a retailer developing its own442 Vertical Integration wholesaling or manufacturing function; an example of downline is a manufacturer developing its own wholesale or retail function
the act of marketing a product or service using tactics that encourage individuals to pass along a marketing message to other individuals in order to have the message delivered at an exponential rate and at very little443 viral marketing to no cost to the marketer... a successful viral marketing campaign encourages prospects and customers to market a product or service for the marketing company or individual. the act of marketing a product or service using tactics that encourage individuals to pass along a marketing message to other individuals in order to have the message delivered at an exponential rate and at very little444 viral marketing to no cost to the marketer... a successful viral marketing campaign encourages prospects and customers to market a product or service for the marketing company or individual.445 Vision The long-term aspirations of a firm446 Weekly Log Diary of actions to be undertaken for the forthcoming week, broken into half-hour sections A pricing strategy whereby a firm charges what the market is able and/or prepared to pay: it may be a high447 What the Market Will Bear or low price and is frequently used in business-to-business marketing Also known as a distributor. Tend to buy in bulk, break bulk and sell and distribute to retailers, the trade or448 Wholesaler end users. Except for cash and carry wholesalers they give credit and transport to their customers. Many large retailers have undertaken Vertical Integration and developed their own wholesaling system the favorite sales word of all time (when used in conjunction with a paying prospect who can make a449 Yes decision... and does)450 Zero-Level Distribution Channel The Producer sells direct to the consumer (business or domestic) and so there are no intermediaries