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BUS 322
| Term | Definition |
|---|---|
| Adaptive Selling | Adjusting your sales behavior to fit each customer and situation |
| Consultative Selling | Helping customers achieve their goals by identifying and solving problems |
| Transactional Selling | Short term selling focused on efficiency and price |
| Enterprise Selling | Strategic long term selling involving multi level relationships across organizations |
| Relationship Development | Building trust credibility and long term value with customers |
| Pre Approach | Planning and preparing before contacting a customer |
| Approach | Initial contact where rapport is built and needs are explored |
| Needs Identification | Understanding customer problems motivations and priorities |
| Presentation | Communicating tailored solutions based on customer needs |
| Objection Handling | Addressing concerns and reducing perceived risk |
| Closing | Securing commitment and guiding the customer to take action |
| Follow Up | Ensuring satisfaction and maintaining long term relationships |
| Adaptive Selling Requirements | Knowledge listening skills flexibility emotional intelligence |
| Customer Type Economic | Customer focused on cost savings efficiency ROI |
| Customer Type Technical | Customer focused on specs standards performance |
| Customer Type User | Customer focused on ease of use support reliability |
| Customer Type Coach | Internal advocate assisting the salesperson in navigating the buying process |
| Buying Motives Rational | Logical reasons such as profit efficiency quality results |
| Buying Motives Emotional | Feelings such as trust safety pride fear reduction |
| Stimulus Response Selling | Uses scripts and cues to trigger predictable responses |
| Formula Selling | Uses a structured presentation format |
| Needs Satisfaction Selling | Uncovers needs before presenting solutions |
| Problem Solving Selling | Helps buyer analyze situations and find comprehensive solutions |
| Key Success Traits | Empathy professionalism integrity confidence resilience |
| Sales Call Planning | Setting call objectives identifying needs preparing materials |
| SMART Objectives | Specific measurable achievable relevant time bound goals |
| Territory Management | Organizing and prioritizing customers geographically or strategically |
| Pipeline Management | Tracking opportunities through stages of the funnel |
| Prospecting | Identifying potential customers who fit the target profile |
| Qualification | Determining if a lead has need authority budget timeline |
| FAB Statements | Turning features into advantages and benefits |
| Trial Close | Question testing readiness to proceed |
| Assumptive Close | Acting as if the buyer has decided |
| Alternative Choice Close | Giving two options to guide decision |
| Summary of Benefits Close | Restating benefits to reinforce value before closing |
| Objection Price | Concern about cost or value |
| Objection Product | Concern about features quality fit |
| Objection Source | Concern about company salesperson or service |
| Objection Timing | Concern about urgency or readiness |
| Objection Need | Concern about actual requirement or priority |
| LAARC | Listen acknowledge assess respond confirm |
| Negotiation | Reaching agreement that satisfies both parties |
| Principled Negotiation | Separating people from problem focusing on interests |
| Value Proposition | Clear statement of measurable customer outcomes |
| Buyer Personas | Profiles representing motivations needs behaviors |
| Sales Strategy | Coordinated plan for segmentation targeting value creation |
| Sales Segmentation | Dividing customers by needs behaviors potential value |
| Perceptual Mapping | Visual display of customer perceptions vs competitors |
| Customer Lifetime Value | Total economic value of a customer relationship over time |
| Key Account Management | Serving high value strategic customers with tailored service |
| Sales Forecasting | Estimating future sales for planning |
| Qualitative Forecast | Judgment intuition expert insights |
| Quantitative Forecast | Statistical models and historical data |
| ABC Classification | Ranking accounts by value or potential |
| Portfolio Analysis | Evaluating accounts by attractiveness and strength |
| Sales Goals | Strategic intentions |
| Sales Quotas | Numerical performance targets |
| Motivators Intrinsic | Pride mastery achievement purpose |
| Motivators Extrinsic | Money promotions recognition incentives |
| Compensation Types | Salary commission bonus combination |
| Commission Types | Straight commission graduated commission performance based |
| SPIN Situation | Background fact finding |
| SPIN Problem | Identifying difficulties or dissatisfaction |
| SPIN Implication | Consequences of the problem |
| SPIN Need Payoff | Benefits of solving the problem |
| Buyer Decision Roles | Initiator gatekeeper influencer decider buyer user |
| Buying Center | Group involved in a purchase decision |
| Buying Process | Problem recognition information search evaluation purchase post purchase |
| Trust Based Selling | Building credibility reliability shared interest |
| Ethical Selling | Acting honestly fairly transparently |
| Nonverbal Communication | Gestures posture tone expressions |
| Active Listening | Understanding meaning beyond words |
| Question Types | Open closed probing confirming reflective |
| Value Based Selling | Emphasizing measurable outcomes not features |
| Handling No | Clarifying reasoning offering alternatives preserving relationship |
| Social Selling | Using platforms like LinkedIn to build credibility |
| Role of CRM | Centralizes customer data interactions forecasting |
| Sales Funnel | Prospects leads qualified leads opportunities closed won customers |
| Top of Funnel | Prospecting outreach awareness |
| Middle of Funnel | Discovery needs analysis product demos |
| Bottom of Funnel | Negotiation proposal closing |
| Territory Routing | Efficient scheduling to reduce travel time |
| Team Selling | Using multiple experts to support sale |
| Handling Difficult Customers | Stay calm ask questions validate feelings offer solutions |
| Emotional Intelligence | Managing emotions to build relationships and influence |
| Closing Difficulty Reasons | Poor qualification weak value fear of rejection strong competitors |
| Win Loss Analysis | Evaluating reasons for wins and losses |
| Post Sale Service | Support onboarding training satisfaction checks |
| Customer Retention Strategies | Personalized touchpoints responsiveness added value |
| Upselling | Selling higher level versions |
| Cross Selling | Selling complementary products |
| Objection Prevention | Clarifying expectations and building value early |
| Multi Attribute Matrix | Comparing options using weighted criteria |
| Sales Presentation Structure | Opening agenda value story demonstration proof closing |
| Proof Sources | Testimonials case studies customer stories ROI data demonstrations |
| Anchor Pricing | Using high reference price to frame value |
| BATNA | Best alternative to a negotiated agreement |
| ZOPA | Zone of possible agreement |
| Concession Strategy | Planned trade offs to reach agreement |
| Virtual Selling | Using Zoom and digital tools to sell remotely |
| Sales Technology Tools | CRMs analytics sales automation platforms |
| Time Management | Prioritizing high value tasks minimizing low value tasks |
Created by:
user-2007487