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| C |
| There are 151 entries in the glossary. |
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| C-type response | a response to an advertisement or an advertising campaign which is immediately obvious, see S-type response
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| call | a face-to-face visit or telephone call to a client or prospective buyer by a sales representative to gather information, make a sales presentation, secure an order, etc |
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| call planning | the arrangement of a sales representative's visits to buyers into an orderly sequence, the setting of objectives, and the formulation of strategies for each call
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| call report | a written record of sales calls made by a representative for submission to a supervisor
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| cannibalisation | the loss of sales of an existing product to a new offering in the product line, see planned cannibalisation and unplanned cannibalisation
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| canvass / canvassing | cold-calling personally at the prospect's office or home or by telephone, the objective being to set an appointment or present a product, or to gather information
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| capital assets | long-lived business assets (buildings, plant and equipment, etc) of a firm
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| carpe diem | seize the day - a healthy philosophy for a sales person to work with |
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| carrying costs | costs associated with maintaining inventory, such as financing, storage, insurance and obsolescence
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| cartel | a group of firms (or nations) attempting to act as a monopoly to control the market price
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| cash cows | products or strategic business units within the organisation's mix which are characterised by high market share and low market growth, cash cows produce the revenue required to develop and support less successful or newer products
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| cash discount | a reduction in price offered to a buyer in return for prompt settlement of account
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| cash flow | the money required by a company to meet expenses in a given period, the measure of actual cash flowing in and out of a business
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| cash rebate | money refunded to customers who buy merchandise from retailers within a specified time, the rebate allows dealers to clear inventories without cutting list price, for example, a new car dealer might announce that everyone who purchases a certain vehicle in the current month at the regular price of $25,000 will receive a cash rebate of $2,000
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| casual product classes | broad classifications of products used to describe markets in everyday terms, e.g. the pet food market, the photocopier market, the breakfast foods market, etc, see standard product classes |
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| catalog sales | products with their specifications and applications are displayed in a catalog that is mailed to end users, this may be done by the manufacturer or a reseller
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| cause marketing | marketing activities that promote charities or other nonprofit organizations
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| caveat emptor | a Latin term meaning "let the buyer beware", the term implies that it is the customer's responsibility rather than the seller's to ensure that the goods or services offered for sale are able to deliver the desired satisfactions, caveat emptor is totally contrary to the marketing concept
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| channel | the means used by companies to make their products and services available to their target market, examples include direct channel (sold by the company's sales force), distributors, retail stores, manufacturers' reps and value added resellers
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| channel conflict | discord among members in a marketing channel
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| channel strategy | decision-making related to the selection of the most appropriate method of controlling the flow of goods or services from producer to end-user
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| CIF | cost, insurance and freight ... or customer information file
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| client | a customer , the individual or company you are doing business with, often used as a term viewed to be more sophisticated than customer |
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| clincher | an additional inducement offered to a potential buyer by a salesperson in order to close a sale, inducements might include price discounts, rebates, extended credit, reduced delivery charges, etc
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| CLO | Chief Learning Officer - the head of learning at an organization
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| close | as a noun, the critical stage in the selling process when the salesperson attempts to obtain the buyer's commitment to the purchase
as a verb, the point at which the salesperson asks the prospect to make a commitment to purchase a particular product or service
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| closed question | a question which allows a respondent to provide a short specific response, e.g. yes or no, six, Ford, red
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| closing | the act of gaining a commitment to the next step, be that a subsequent meeting or a purchase decision from a buyer
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| closing skill | the ability of a salesperson to obtain the buyer's commitment to the purchase
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| closing techniques | methods employed by a salesperson when asking for an order and aimed at obtaining a favourable response from a buyer
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| cluster sample | a form of probability sample where respondents are drawn from a random sample of mutually exclusive groups (usually geographic areas) within a total population, also called an area sample, see stratified sample
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| coach | individual who provides guidance to others on how to improve their skills
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| code of ethics | principles of conduct within an organization or professional association (i.e. Chartered Accountants, Certified Financial Planners, etc) that guide decision making and behavior |
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| cognitive dissonance | a doubt that surfaces when a buyer becomes aware that an alternative product may offer more desirable benefits than the one purchased, the buyer wonders whether the right choice has been made, sometimes known as "buyers remorse"
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| cognitive pyschology | cognitive psychology is a theoretical perspective that focuses on the realms of human perception, thought, and memory, it portrays learners as active processors of information - a metaphor borrowed from the computer world - and assigns critical roles to the knowledge and perspective students bring to their learning, what learners do to enrich information, in the view of cognitive psychology, determines the level of understanding they ultimately achieve, see mindset and sales mindset
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| cold call | a sales call where the salesperson doesn't personally know the company and/ or contact s/he is calling on and/or a sales call where no known need, by the prospect or salesperson, exists
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| collaboration selling | also known as collaborative selling and facilitation selling - sophisticated method in which seller truly collaborates with buyer and buying organization to help the buyer make an informed decision, a logical extension to 'strategic' or 'open plan' selling
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| collateral materials | advertising materials that are not transmitted to consumers via advertising media, collateral materials include catalogs, shelf cards, posters, specifications sheets and trade information materials
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| collectibles | premiums designed to have inherent value based upon their perceived "collectability"
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| collusion | agreement between a group of companies to fix a common price
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| combination | a plan that has two or more elements, a base salary and one or more cash incentive components such as a bonus, a commission, or both
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| combination sale | a tie-in of a premium with a purchase at combination prices, sometimes self-liquidation, often as an on-pack
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| comfort zone challenge | an activity in which one engages in order to push an individual or organization into a position, where they have little experience and are in a position they are not used to
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| commemorative | a merchandise keepsake used to mark a ceremony, anniversary, event or milestone
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| commercialisation | the final stage of the new product development process in which the decision is made to put the new product into full scale production and to launch it, see new product development |
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| commission | compensation paid to a salesperson following a sale based on a percentage of the gross sales revenue, can be linked to units or margin as well, a commission-only compensation program is sometimes called a 'full' or 'straight' commission
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| commission override | a commission paid to a sales manager based on a percentage of his or her salespeople's commissions
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| commodity product | a product that cannot be significantly differentiated from competitors' products
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| commodity rate | a rate which is applied in any situation where freight is product specific rather than based on volume or weight, also called a special rate |
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| common carrier | regular scheduled transportation services such as railways, airlines and trucking lines, available to all users
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| common market | a group of geographically associated countries limiting trade barriers among member nations and applying common tariffs to products from non-members, also known as regional trading blocks
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| communicability | the extent to which the benefits of a new product are likely to be noticed and discussed by consumers, a major determinant of the rate of new product adoption
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| communications | the process by which a message, encoded by a sender, is transmitted through a medium to a receiver, who encodes the message and provides feedback
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| comparison pricing | a pricing method in which the price for a new product is set by comparing the benefits it offers to those of other products in the same category
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| compatibility | the extent to which a new product requires consumers to adjust to unfamiliar methods of use, a major determinant of the rate of new product adoption, see adoption rate determinants |
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| compensation | remuneration for work done on behalf of another
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| compensation systems | methods for remunerating salespeople for tasks performed, commonly used systems include straight salary, or straight commission, or a combination of salary and incentives
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| competition-oriented pricing | a method of pricing in which a manufacturer's price is determined more by the price of a similar product sold by a powerful competitor than by considerations of consumer demand and cost of production, see cost-plus pricing, target return pricing, and value pricing
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| competitive advantage | that which one firm can do better than another to satisfy consumer needs and wants
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| competitive analysis | the assessment of the strengths and weaknesses of competing companies
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| competitive bidding | a process in which buyers request potential suppliers to submit quotations or tenders for a proposed purchase or contract
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| competitive depositioning | attempting to change the beliefs of buyers about the attributes of a competitor's product, the attempt may be especially useful in cases where buyers generally have an inflated perception of the quality of a competitor's product, see market positioning
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| competitive environment | that part of the company's external environment which consists of other firms vying for patronage of the same market
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| competitive niche | a segment in a market in which a company can compete effectively
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| competitive position | a company's industry ranking by size and business strength, may be classified as a market leader, market challenger, market follower, or market nicher, according to the market share it holds
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| competitive scope | the breadth or narrowness of a company's focus as measured horizontally by the range of industries, market segments, or geographical regions it targets, or vertically by the degree to which it is integrated
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| competitive strategy | planning intended to give a company a competitive advantage over its competitors
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| competitors | companies vying for customers in the same market
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| complete segmentation | the division of a market into segments consisting of individual customers and tailoring a product and marketing program for each, see custom marketing, customised marketing mix, and disaggregated market
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| complex decision making | in consumer behaviour, buying which is associated with the purchasing of high-involvement products which are important to the consumer and therefore require considerable thought and effort, also known as extensive problem solving
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| complexity | the degree of difficulty which a purchaser of a new product has in understanding the product, a major determinant of the rate of new product adoption
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| concentrated segmentation strategy | one of four possible segmentation strategies (with market segment expansion strategy, product line expansion strategy and differentiated segmentation strategy), in a concentrated segmentation strategy a firm targets one product to one segment of the market, see segmentation strategies, market segment expansion strategy, product line expansion strategy, and differentiated segmentation
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| concentric diversification | a growth strategy in which a company seeks to develop by adding new products, also called convergent diversification, to its existing product lines to attract new customers
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| concept development and testing | a two-phase stage in the development of a new product in which potential buyers are presented first with the idea or description of the new product (concept testing) and later with the product itself in final or prototype form (product testing), in order to obtain their reaction, see product testing and new product development
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| concern | a softer term for objections, used in consultative selling environments where the salesperson's objective is to not sell anything, instead help their prospect or customer make an informed decision
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| concession | 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 fundamental 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
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| conference selling | a selling situation in which a salesperson enlists the assistance of other people in the company (technicians, finance, etc.) in meeting with a group of buyers from different firms to explain a new product or discuss problems and opportunities, also known as team selling
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| consequence probes | verbal techniques used by a salesperson to illustrate the disadvantages to a buyer of not making a particular purchase
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| consultative selling | an approach to personal selling emphasising the role of the salesperson as consultant or trusted advisor, the salesperson assists the buyer to identify needs and find need-satisfaction in the product range, seeking to build long-term customer relationships leading to repeat business
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| consumer | the end user of the product or service
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| consumer behavior | the behavior of individuals when buying goods and services for their own use
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| consumer durables | a classification of consumer products consisting of goods with a long useful life, such as cars, electrical appliances and furniture
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| consumer goods | items purchased by consumers for personal and household use, consumer goods are classified as durables and non-durables
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| consumer market | buyers and potential buyers of goods and services for personal and household use
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| consumer needs | wants that can be satisfied by specific purchase behavior
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| consumer non-durables | a classification of frequently purchased consumer goods, non-durables are items which are consumed in one use or a few uses, expendables, consumer non-durables are further sub-divided into packaged and non-packaged goods
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| consumer research | marketing research into the requirements, opinions, attitudes, etc of consumers
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| consumer rights | fair entitlements due to consumers when buying from producers and resellers
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| consumerism | a social movement intended to safeguard the rights of consumers
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| contact management | a method or system for managing contact information, priorities and checklists, typically used to describe a software solution that partially automates contact management functions
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| contactual reference group | a group with which an individual has contact and which influences the individual's purchase decisions, see aspirational reference group, dissociative group, membership group, and reference groups
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| container premium | a product container, which when empty, may be used as a container for other items, these items are usually partially or completely self-liquidating since the consumer pays for the product |
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| contest | a competition based on skill, in which prizes are offered
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| contests | a form of sales promotion in which consumers are induced to buy earlier, or in greater quantity, by the offer of prizes of cash or merchandise to be won in a competition
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| continuity | the scheduling of media exposures of a particular advertisement or campaign evenly within a given period, see flighting and pulsing
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| continuity premiums | a series of related premiums offered over a period of six to eight weeks
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| continuity program | a program designed to offer an incentive to an individual that encourages him or her to return to do additional business, types of continuity programs include frequent flyer mileage, trading stamps, etc |
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| continuum of sales jobs | the idea that all kinds of sales jobs are similar in some respects but vary in the degree of difficulty involved, the difficulty is linked to the amount of creativity required in finding new customers and persuading them to buy, and to the tangibility and complexity of the product
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| contract carrier | a transportation firm operating exclusively in one industry and contracted to particular firms
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| contract rate | a charge negotiated between carrier and shipper for the transportation of a commodity, sometimes called a negotiated rate
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| contractual sales force | salespeople who are not full or part-time paid representatives of a company but who sell for it on a commission basis
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| convenience goods | a category of consumer goods which are bought frequently, quickly and with a minimum of emotional involvement, the category includes staples, impulse goods and emergency goods
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| convergent diversification | diversification into related businesses
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| cooling-off period | a short period of time, usually a few days, in which purchasers of a product may void a sale contract if they change their minds about purchasing the goods offered
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| copyright | protection in law afforded to authors, musicians, artists, etc in respect to the works they have created
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| core product | the intangible benefit or service offered by a product, for example, the core product offered to a purchaser of shampoo is clean, healthy hair
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| corporate branding | associating the name of a company with the individual brand name in product marketing, usually to ensure that new product introductions will be more readily accepted, differs from family branding in that corporate branding is used for all products of the company or division rather than merely for a family of brands
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| corporate culture | the particular strategies, style, systems, environment and shared values within an company which contribute to its individuality
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| corporate image | the identity or perception of itself that an organisation attempts to convey to its publics, usually through corporate advertising
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| corporate logo | a mark, graphic design, symbol, etc used to identify, and reflect an appropriate image of a company
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| corporate mission statement | answers the question "what business are we in?", the corporate mission statement, with a broad focus and a customer orientation, provides management with a sense of purpose
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| corporate objectives | specific, realistic and measurable goals which a company plans to achieve over a specific time
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| corporate sponsorship | a form of below-the-line advertising in which a corporation offers funding to a group, association, sporting body, etc in return for a range of promotional opportunities
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| corporate umbrella | the use of the corporate name and image to demonstrate an affiliation of subsidiary companies or divisions and their implied strength tied to the "parent" company
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| correlation techniques | a range of statistical techniques used to discover relationships between diverse elements
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| cost advantage | the competitive edge which can be gained by one company over another by reducing production or marketing costs or both so that it can offer cheaper prices or use excess profits to bolster promotion or distribution
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| cost of labor | a comparative measure of external pay practices, data on labor market costs (total compensation amounts) are obtained from labor market competitors and used as a reference when establishing total target compensation opportunity
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| cost of sales | a relative measure of internal costs, the cost of sales, expressed as a percent, is calculated by dividing the total sales dollar volume sold by the sales force into the total compensation cost of the sales force
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| cost-plus pricing | a simple method of pricing in which a specified amount or percentage, known as the standard mark-up, is added to the unit cost of production of an item to determine its selling price
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| cost/profit analysis | a sales management control measure involving the calculation of expenditure incurred in making sales, profitability analysis
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| counterfeiting | the copying of a competitor's well-known products, some counterfeit products are intended to look as much like the original as possible, including the brand name, others are close, but not exact, copies, still others are cheap and unconvincing imitations, counterfeiting is generally illegal
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| countertrade | a system of international trade based on bartering; such transactions may or may not involve cash payments
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| coupon | form of sales promotion, distributed on the package of the product, by direct mail, or in newspaper and magazine advertisements, the consumer is usually offered "cents-off" the next purchase upon presentation of the coupon
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| CPT | cost-per-thousand
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| creative problem solving | ability to develop and combine non-traditional alternatives to meet the specific needs of the situation
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| creative selling | an approach to selling in which salespeople aggressively seek out customers and use well-planned strategies to secure orders
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| credit | the allowance of time in which to pay for a purchase
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| credit card | a small plastic card used to obtain consumer products or services without immediate payment, the card is issued by a financial institution on the understanding that the consumer repays sums spent against the card with interest
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| credit terms | conditions negotiated between seller and buyer relating to the time within which the buyer is obliged to pay for the products purchased and any discounts to be allowed by the seller for earlier payment or additional services performed
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| critical path analysis | a planning technique used to keep projects on schedule, a flowchart shows time allotments and priorities for each activity
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| CRM | see customer relationship management |
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| cross elasticity of demand | a measure of the affect a change in the price of one product will have on the demand for a substitute or complementary product
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| cross selling | to sell a product or service that complements or adds value to another purchase, also refers to selling an existing customer another product or service, or the sale by a salesperson of some part of the company's total product range for which another division or salesperson has prime responsibility
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| CRP | customer relationship process
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| CSR | customer service representative
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| cumulative | a type of performance cycle when the performance of the incumbent is measured over subsequent performance periods (e.g. performance is cumulative because it is measured from the start of the quarter to date, but paid monthly), see discrete
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| cumulative quantity discount | a price reduction offered to a purchaser in which the amount of the discount increases over time with the volume purchased
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| curbside sales training | informal coaching or training of a sales representative by a supervisor in the field
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| current ratio | the most common of three financial ratios used to evaluate a firm's liquidity, current assets are expressed as a percentage of current liabilities, also see acid-test ratio and quick ratio
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| custom marketing | marketing activity in which a company attempts to satisfy the unique needs of every customer, also called market atomisation strategy, see disaggregated market, complete segmentation, and customised marketing mix |
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| customer | usually meaning the purchaser, organization, or consumer after the sale is made, before the sale was known as a prospect
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| customer information file | usually an electronic file containing the customers contact information (name, address, phone number, email) as well as demographic information (birth date, gender) and products or services bought previously, some CIF files also indicate predictive purchasing opportunities |
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| customer loyalty | a measure of the length of time a person or business has remained a customer once they have purchased a product or service, as well perhaps their inclination to recommend your organisation, see customer retention
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| customer relations department | a division of a company responsible for ensuring customers are satisfied with the goods or services they have purchased and with the way they have been served
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| customer relationship management | an enterprise wide strategy designed to increase profitability and revenue and improve customer satisfaction by organizing the customer-facing departments - sales, marketing and support, also known as the front office
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| customer relationship process | the sequence of activities performed by people who are in direct customer contact that enables the supplier organization to meet or exceed customer requirements
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| customer retention | means simply keeping customers and not losing them to competitors, companies realise that it's far more expensive to find new customers than keep existing ones, and so put sufficient investment into looking 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, see also retention
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| customer service | all of the activities intended to ensure that customers receive the goods and services they expect to satisfy their needs or wants in the most effective and efficient way
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| customer value analysis | an organisation's rating of the value it provides to its customers relative to that provided by its competitors
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| customised marketing mix | in international marketing, a marketing program uniquely designed for a particular country, see complete segmentation, custom marketing, and disaggregated market |
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| cycle | see sales cycle
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Glossary V2.0 |
