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D099 - module 2

D099 - Unit 2

TermDefinition
sales channels A way of bringing products or services to market so they can be purchased by consumers
distribution channels a series of business or intermediaries that pass down a product or service till it reaches the customers
intermediaries individuals, businesses, or external groups that buy and resell products until it reaches the customers
retailers businesses that sell, in small amounts, products to customers
wholesalers Individuals or business that resell large amounts of the product to other businesses at a higher price.
distributer Individuals or business that resell to other businesses at higher price. Will maintain a close relationship with their suppliers.
agents or brokers individual or businesses that try to sell the product to the final user.
order takers Salespeople with responsibility for handling transactions initiated by the customer
order getters Salespeople who persuade customers to make a direct purchase
missionary salesperson This is someone who calls on people who make decisions about products but do not actually buy the products.
Trade salesperson This is someone who calls on retailers and helps them display, advertise, and sell products to consumers.
Prospector a salesperson whose primary function is to find potential customers
Technical salesperson an expert on a specific product or service area.
customer service representatives they take customer orders over the phone or email, provide product information, process orders internally, and follow up as necessary with the customer.
account management the management of customers who have previously purchased products or services from the company
Inactive accounts clients who made a one-time purchase or have not made a purchase for a specified period.
Passive accounts clients who have established an ongoing relationship with the company through its website and may or may not have a recurring order.
Active accounts clients who have an ongoing relationship with the business and have either frequent orders, large orders, or both.
key account management (KAM) the process of distinguishing a portfolio of accounts (customers) based on a set of criteria of strategic importance to the company's long-term success.
Pareto principle 80% of effects come from 20% of causes.
Business development pursuing strategic opportunities with current and potential clients to help achieve the organization's goal of increasing revenue.
sales quotas The sales goal or figure set for a product line, company division, or sales representative
Customer relationship management (CRM) tools software used for account management by capturing vital customer information.
power skills Personal attributes that enable someone to interact effectively and harmoniously with other people
Hard skills Teachable abilities or skill sets that are easy to quantify.
strategic thinking A process applied by an individual in the context of achieving a goal or set of goals in an endeavor
strategic partnerships A partnership in which the buyer and seller commit resources to generate growth for both parties
prospecting and qualifying searching for potential customers and deciding if they can purchase
approach salesperson sets up a meeting with lead
presenting and demonstrating Explaining how the product meets customer's needs
Handling objections Answering customer questions and concerns
Closing the sale Agreeing on the terms of the sale and finalizing the transaction
Following up on the sale making sure the customer is happy with the product
Top of Funnel getting the customers attention to provide information and create interest in the product.
Middle of Funnel providing high-level product information and addressing objections.
Bottom of Funnel focusing on the product as a solution and on how it adds value and meets customers' needs.
Created by: lissmisstree
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