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| There are 65 entries in the glossary. |
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| ABC | always be closing... sales tip
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| ABC account classification | the classification of customer accounts within a sales territory or region into groups according to their size and potential, and, therefore, their importance, the classification is used primarily to determine call frequency
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| above-the-line advertising | advertising which employs one of five main media - the press, television, radio, cinema and posters, see below-the-line advertising
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| absolute cost advantage | the cost advantage one company has over another if it has a cheaper source of raw materials, control of superior knowledge through patents, cheaper manufacturing or assembly costs, or similar benefit
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| absolute costs | the minimum costs that an organisation must bear to remain in business, see absolute cost advantage
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| accelerator principle | the notion that an increase or reduction in consumer demand will affect several layers of demand in organisational markets, for example, an increase in consumer demand for soft drinks will lead to an increased demand by retailers for soft drinks, an increased demand by soft drink bottlers for aluminium cans, an increased demand by aluminium can manufacturers for aluminium sheet, an increased demand by aluminium sheet manufacturers for aluminium ore, and so on, see derived demand
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| accessibility | one of the four major requirements (with actionability, measurability and substantiality) for useful market segmentation, accessibility expresses the notion that the segment targeted must be able to be reached and served adequately by the firm's promotion and distribution system, see actionability, measurability, and substantiality |
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| accompaniment report | after an accompaniment visit the manager completes a report on the performance of the sales person, usually resulting in a follow-up action plan or additional training
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| accompaniment visit | where a manager or trainer accompanies a sales person while meeting prospects or customers
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| account | a customer - (usually a B2B organization), the individual or company your are doing business with |
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| account executive | see account manager |
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| account manager | a sales representative responsible for a major customer account or group of major accounts
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| account objectives | the specific aims and sales goals to be achieved within a specified period by a salesperson for an account for which he or she is responsible |
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| account opener | premium given to customers as a reward or thank you for opening an account
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| account penetration ratio | a measure used to evaluate salespeople; the percentage of accounts from which orders are secured is calculated to provide a measure of whether the salesperson is working the territory in a systematic way or simply "milking" major accounts
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| account representative | a salesperson with direct responsibility for a specific major account or a group of major accounts
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| achievement drive | a term coined by Harvard psychologist David McClelland, who believe this was one of the key factors in any successful accomplishment, Dr. McClelland suggests achievement drive does not add to an individuals skills, it multiplies them, also known as ambition, drive, desire to excel, will to win, or competitive nature
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| acid test | a common ratio used to evaluate a firm's liquidity, calculated by dividing cash by current liabilities, see current ratio and quick ratio
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| action plan | detailed steps taken by an individual, unit, department or a team to achieve long or short-term objectives
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| actionability | one of the major requirements (with accessibility, measurability and substantiality) for useful market segmentation, actionability expresses the notion that the segment targeted must be of an appropriate size for the company's resources to handle, see accessibility, measurability, and substantiality |
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| active listening | term used to describe high level of listening capability and method, in which the sales person actively seeks to understand how the speaker feels, and what their issues are, in which the type of listening extends far beyond common inattentive listening
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| activity quota | a common form of sales assignment, goal or target used to measure a sales representative's performance in relation to his or her selling activities; activities used in this way include total calls made, total sales made, number of new accounts opened, number of displays set up, and so on
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| activity reports | reports requiring salespeople to provide details (e.g. number of calls made, new accounts opened, displays arranged, dealer sales meetings attended, etc.) as a measure of their activity in a given period
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| actual product | the tangible features of a product, including styling, quality level, features, brand name and packaging, also called the formal product or tangible product, see augmented product and core product
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| adaptive selling | a technique which calls for the salesperson to adapt his or her social style to that of the buyer in order to maximise effectiveness and buyer comfort the salesperson's ability to change directions during a call based on what happens during the call
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| adaptivising | a planning philosophy implying a firm's intention to continue to maintain, and expand, its present operations, to do better things in the future than have been done in the past, see optimising, and satisficing |
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| added value | 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 and intangible, a good, reliable, honest, expert, informed sales person becomes a very significant part of the selling organization's added value, as perceived by the customer, if not by the selling organization
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| adoption rate determinants | factors which influence the rate of adoption of a new product, see communicability, compatibility, complexity, divisibility, and relative advantage
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| advantage | the aspect of a product or service that makes it better than another, the selling factor over the product or service of a competitor |
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| advertiser (buyer) | the company that buys the product from the distributor to use as promotional tool |
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| advertising | method used by a company to publicize and position its products and services to its chosen target markets, including product launches, image and brand building, press and pubic relations activities, merchandising, special offers, generating leads, and offering incentives to distributors, agents, and sales representatives |
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| advertising and promotion (A&P) | sometimes described as "above the line" (media advertising such as radio, TV, newspapers, magazines) or "below the line" (non-'media' methods such as brochures, direct-mail, exhibitions, telemarketing and public relations), advertising agencies generally receive a commission from the above the line media services, but not below the line services |
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| advertising effectiveness | the degree to which the objectives of an advertisement or advertising campaign have been achieved, the effectiveness is commonly gauged by measuring the effect on sales, brand awareness, brand preference, etc see communication effect of advertising and sales effect of advertising |
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| advertising objectives | specific aims or intentions of an advertisement (for example, to inform, to persuade, to remind)
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| advisors approach | a closing technique in which a salesperson specifies all that a customer will require to solve the problem at hand, and advises the offer be accepted, also referred to as the counsellor close
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| advocacy advertising | advertising that is specifically designed to induce, discourage or advocate some specific kind of action on the part of a corporate, social or government entity |
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| advocate revenue | sales influenced by word-of-mouth advertising
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| affirmations | words said to ones self, aloud or silently, sometimes called self-talk, used by sales people to improve performance, the underlying psychology is if you repeat it often enough your mind will come to accept it as truth and the outcome will be achieved
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| agent | a person who acts on behalf of a company or individual to sell their products or services usually on a commission basis, but unlike other members of the distribution channel, does not take title to them
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| AIDA | attention, interest, desire, action... "get the prospect's attention, gain their interest, create desire and encourage them to act by moving forward with the purchase."
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| AIDCA | awareness, interest, desire, conviction, action; mental states which supposedly lead a potential customer to a buying decision
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| alternate close | a closing technique in which a salesperson presents two alternatives in an attempt to get a commitment for one of them from the buyer e.g. "do you wish to have it delivered on Thursday or Friday?"
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| ambush marketing | the act of marketing a product or service in conjunction with an event or other brand without paying for the right... typically used when an official sponsorship opportunity is available but a company doesn't wish to pay the fee for the sponsorship or another company has already purchased the sponsorship
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| amiable (social style) | one of four social styles (with analytical, driver and expressive) commonly used to classify salespeople and their customers in terms of their communication approach, amiables are characterised by high responsiveness and low assertiveness, see analytical, driver, expressive, assertiveness, responsiveness, and social style |
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| analytical (social style) | one of four social styles (with amiable, driver and expressive) commonly used to classify salespeople and their customers in terms of their communication approach, analyticals are characterised by low responsiveness and low assertiveness, see amiable, driver, expressive, assertiveness, responsiveness, and social style
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| applications | the way the product or service could be utilized by the customer
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| appointment | personal sales visit to a prospect or customer, usually arranged by phone, can also be a scheduled time to discuss a pre-determined topic at a set time (i.e. weekly product meeting)
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| approach | the stage in the selling process in which a salesperson contacts a prospect to make an appointment or make a presentation
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| ASP | application service provider... a software solution used by the customer where the solution itself is developed, hosted and managed by an outside company
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| aspirational reference group | a sub-category of a reference group, consisting of individuals (not necessarily known personally) with whom a person desires to be associated, see contactual reference group, dissociative reference group, membership group, and reference groups
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| assertiveness | the human characteristic or quality which determines the degree to which individuals are directive and competitive in manner as opposed to non-directive and co-operative the degree to which you tend to ask or tell during interactions
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| asset turnover | a ratio used to evaluate the profitability of a firm, net sales in a given period are divided by total assets |
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| assortment strategies | options available to a reseller in determining the assortment of products and services to be carried, see broad assortment, deep assortment, exclusive assortment, and scrambled assortment
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| assumptive close | a closing technique in which a salesperson simply assumes that the purchaser has agreed to buy the product, and proceeds to write up the order
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| atmospherics | the combination of store decor, physical characteristics and amenities provided by a retailer to develop a particular image and attract customers
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| attitudes | enduring favourable or unfavourable feelings, emotions and action tendencies towards a issue or subject |
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| augmented product | a product enhanced by the addition of related services and benefits, e.g. installation, warranty, maintenance and repair services, etc see core product and tangible product
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| autonomic decision | a purchase decision made by either spouse independently, see syncratic decision
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| average cost | the average cost per unit of production of a group of products, the total cost of production divided by the total number produced, the unit cost
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| average cost pricing | a pricing method in which a mark-up for profit is added to the average cost of production
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| average fixed cost | a measure of cost control, calculated by dividing the total fixed cost of the goods produced by the number of units sold
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| average revenue | a measure used in price setting, calculated by dividing the total revenue by the number of units sold
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| average total cost | a measure of cost control, calculated by dividing the total cost of the goods produced by the number of units sold
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| average variable cost | a measure of cost control, calculated by dividing the total variable cost of the goods produced by the number of units sold
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| award | recognition merchandise, often personalize, used to acclaim performance or milestones, may be useful objects (paperweights, clocks) or for display only (plaques, trophies)
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Glossary V2.0 |
