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| There are 61 entries in the glossary. |
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| e-business | business conducted over the internet, not only buying and selling but also servicing customers and collaborating with business partners |
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| e-commerce | the buying and selling of goods and services on the internet |
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| e-zine | an electronic magazine, whether delivered via a Web site or an email newsletter used by more and more sales professionals to keep in touch with their customers
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| early adopters | the group in a market second only to innovators in the speed with which they adopt a new product, see diffusion of innovation, early majority, innovators, laggards, late majority
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| early majority | the group in a market who are more deliberate than the innovators and the early adopters in making purchase decisions, but less conservative than the late majority and laggards, see diffusion of innovation, early adopters, innovators, laggards, late majority
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| economic environment | factors in the economy, such as inflation, unemployment, interest rates, etc, that influence the buying decisions of consumers and companies
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| economic forecast | a prediction of the likely impact on the business environment of factors such as inflation, interest rates, unemployment, government and consumer spending, etc
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| economic order quantity | the optimum quantity of each product that must be ordered to balance the inventory holding costs against the order processing costs, holding costs increase with more inventory, while order processing costs decrease
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| economic utility | the ability of a good or service to satisfy a customer's needs or wants, the five kinds of economic utility are form utility, time utility, place utility, information utility and possession utility
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| economies of scale | reductions in the price per unit of marketing or manufacturing a product as the quantity marketed or produced increases
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| eCRM | see electronic customer relationship management |
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| EEC | european economic community - a group of european nations acting as a trading block, limiting trade barriers among members and applying common tariffs to products from non-members
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| effective buying income | an individual's disposable income, consisting of salary and wages, dividends, interest, profits, etc, less all government taxes
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| EFT | electronic funds transfer - a system used in retailing in which a consumer pays for purchases by means of an electronic transfer of funds from his or her bank account to that of the store
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| ego states | a proposition in transactional analysis that every person has three mental conditions - parent ego state, child ego state and adult ego state, and that at any particular time one of these states is dominant in the personality
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| ego-drive | the need of one individual to persuade another to a particular point of view and feel satisfaction in having done so
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| elaboration probes | questions posed by salespeople when positively encouraging prospects to provide additional information about their needs
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| elasticity of demand | a measure of the degree to which any change in the price of a product will affect the demand for it
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| electronic customer relationship mngmnt | involves the integration of web channels into the overall CRM strategy
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| electronic retailing | the use by customers of computer terminals in conveniently located shopping kiosks to call up product information and then to place orders using credit cards
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| elephant | slang... used to refer to a prospect who, if brought in as a customer, would have a tremendously positive impact on revenue generated
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| elephant gun | what sales managers tell some sales reps to put away, they are suggesting not to go after just the large accounts
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| embargo | a total restriction on a particular good leaving or entering a county, any restriction imposed in the release of information, advertising, etc before a given date
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| emotional appeals in advertising | advertising messages, usually based on imagery rather than information, which attempt to achieve the advertiser's objectives by evoking strong emotional feelings (fear, anger, passion, etc) rather than by a rational appeal, see rational appeals in advertising
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| emotional close | a closing technique in which the salesperson attempts to get a favourable response from a buyer by appealing to his or her fear, pride or similar emotion
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| emotional risk | the concern or uncertainty felt by a prospective buyer that he or she will feel bad about the purchase afterwards, also called psychological risk
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| empathy | the ability of an individual to project his or her own personality into a situation and understand it, a quality deemed desirable in salespeople who must be able to see the product from the buyer's point of view
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| empty nesters | those in the stage of the family life cycle where the children have all grown up and left home
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| encouragement probes | question posed by salespeople to get additional information from a prospective buyer
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| end user | the organization or individual that buys and uses the product or service
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| endless chain method | a prospecting method in which a salesperson asks each customer called upon to suggest the names of other likely purchasers of the same product
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| endorsements | recommendations to purchase a particular brand of product made in advertisements by well-known personalities or experts
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| enterprise competitors | firms of similar type vying for a consumer's business
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| enterprise resource planning | this is a business strategy that integrates manufacturing, financial and distribution functions or an enterprise, also known as the back office |
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| environmental scanning | the process of examining the internal and external factors which influence the firm's operations and decision making in order to identify market opportunities and threats
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| ERP | see enterprise resource planning |
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| error rate | the percentage of errors (wrong items, wrong quantity, wrong address, etc) made in shipping merchandise to customers
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| escalator clause | a clause in a contract which allows a tenderer to adjust the final amount charged to take account of price rises in component parts between acceptance of the bid and completion of the delivery, installation, etc
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| esteem needs | Maslow's hierarchy of needs - the desire to feel important in the eyes of others
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| ethics | standards of conduct, set of principles of morals, an important subject for sales professionals, sometimes known as "doing what's right for the customer"
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| evaluative criteria | features of a supplier, product, etc. considered by a buyer when choosing between alternatives, evaluative criteria may be objective or subjective
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| evaluative probes | questions posed by salespeople to help their understanding of a prospective customer's feelings on a subject
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| exchange | the transfer of an object, idea, service, etc from one person or organisation to another in return for something desired
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| exclusive agreements | agreements between manufacturers and middlemen in which the latter are granted sole rights to distribute a product within a defined territory
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| exclusive assortment | an assortment strategy in which a reseller decides to carry the product line of only one manufacturer
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| exclusive dealing agreement | an arrangement in which a manufacturer prohibits a marketing intermediary from carrying competitors' products
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| exclusive distribution | restricting the availability of a product to one particular outlet
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| exclusive sales territory | a region in which a distributor has been given sole rights to a manufacturer's product
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| expense account | a budgeted amount of money advanced to a salesperson for food, travel, accommodation, entertainment of clients, and other items of expenditure considered necessary to make sales
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| expense quota | the amount budgeted for a salesperson for expenses associated with making sales in a territory, used as a cost control measure by sales managers
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| experience curve pricing | the pricing of a product at a lower than average-cost level on the basis that costs will decrease as production experience increases
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| expert forecasting survey | a sales forecasting method in which outside specialists or industry experts - economists, academics, management consultants, advertising executives, etc - are asked to assist in the preparation of the sales forecast
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| exponential smoothing | a quantitative technique for sales forecasting using historical data weighted to favour the most recent information
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| export-import agent | an independent marketing intermediary bringing together buyers and sellers from different countries and taking a commission on sales
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| express warranty | a manufacturer's guarantee, stated in written or spoken words, that the product offered for sale will satisfactorily perform the task for which it is intended, and to the buyer's reasonable expectations
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| expressive (social style) | one of four social styles (with amiable, analytical and expressive) commonly used to classify salespeople and their customers, expressives are characterised by high assertiveness and high responsiveness
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| extension approach to pricing | an approach to global pricing in which a firm sets the same price for its product around the world and expects purchases to pay whatever additional freight and import costs apply
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| extensive problem solving | buying situations which require considerable effort because the buyer has had no previous experience with the product or suppliers, also called extensive decision making, see limited problem solving |
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| external marketing environment | relatively uncontrollable factors outside the firm which influence its decision making
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| external stimuli | advertisements, posters, coupons, point-of-purchase materials, store displays, etc which give rise to a drive, see learning process and drive
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| extrinsic rewards | rewards for doing a job which are external to the individual, such as wages, bonuses, incentives, fringe benefits, job promotions, etc
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Glossary V2.0 |
