15.9: Key Terms
- Page ID
- 99390
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\( \newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\)
( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\id}{\mathrm{id}}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\kernel}{\mathrm{null}\,}\)
\( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\)
\( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\)
\( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\AA}{\unicode[.8,0]{x212B}}\)
\( \newcommand{\vectorA}[1]{\vec{#1}} % arrow\)
\( \newcommand{\vectorAt}[1]{\vec{\text{#1}}} % arrow\)
\( \newcommand{\vectorB}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vectorC}[1]{\textbf{#1}} \)
\( \newcommand{\vectorD}[1]{\overrightarrow{#1}} \)
\( \newcommand{\vectorDt}[1]{\overrightarrow{\text{#1}}} \)
\( \newcommand{\vectE}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash{\mathbf {#1}}}} \)
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)| Words (or words that have the same definition) | The definition is case sensitive | (Optional) Image to display with the definition [Not displayed in Glossary, only in pop-up on pages] | (Optional) Caption for Image | (Optional) External or Internal Link | (Optional) Source for Definition |
|---|---|---|---|---|---|
| (Eg. "Genetic, Hereditary, DNA ...") | (Eg. "Relating to genes or heredity") |  |
The infamous double helix | https://bio.libretexts.org/ | CC-BY-SA; Delmar Larsen |
| Word(s) | Definition | Image | Caption | Link | Source |
|---|---|---|---|---|---|
| adaptive selling | an approach to personal selling in which selling behaviors are altered during the sales interaction or across customer interactions, based on information about the nature of the selling situation | ||||
| AIDA model | the model consumers go through when becoming interested in a product. First the product must grab their attention, then they gain interest, they have a desire for the product, and they act to acquire the product | ||||
| ambiguous terms and conditions | when a contract is unclear and misleading | ||||
| approach | the stage of the sales process where the salesperson makes the initial approach to introduce the product to the customer | ||||
| commission | the compensation paid to salespeople based on a fixed formula related to the salesperson’s activity or performance | ||||
| consultative selling | focuses on the expertise of a salesperson with problem solving | ||||
| contest | a marketing or consumer sales promotion technique that involves collection, matching, or use of skill to complete a project or activity with the goal of a prize or reward for the player | ||||
| cooperative advertising | an approach to paying for local advertising or retail advertising whereby the details are handled by a local retail store but is partly or fully paid for by a national manufacturer whose product is featured in the ad | ||||
| coupon | a printed certificate entitling the bearer to a stated price reduction or special value on a specific product | ||||
| credit terms | credit terms of the agreement between the buyer and seller with length of time and payments to be made | ||||
| customer relationship management | the process sales personnel undertake to work with the customer to build the relationship and move into the role of a trusted advisor | ||||
| formula selling | an approach in which the sales presentation is designed to move the customer through the stages in the decision-making process, such as get the customer’s attention, develop interest, build desire, and secure action | ||||
| hidden fees | also called undisclosed fees and are fees that are not made known to the buyer | ||||
| inside order taker | a salesclerk or order clerk that is employed for a company that address questions and complete the final sale | ||||
| kickbacks | illegal payment for preferential or improper service | ||||
| lead response time | the activity of evaluating factors through data analytics, demographics, buyer behavior, competitor analysis, and economics | ||||
| loyalty programs | a form of promotion focused on repeat purchases and frequently attached to a sales receipt, punch card, or stamp card | ||||
| missionary salespeople | individuals who have the power to influence the customer to purchase a product or service | ||||
| need/satisfaction format | a type of customized sales presentation in which the salesperson first identifies the prospective customer’s needs and then tries to offer a solution that satisfies those needs | ||||
| opportunity win rate | the number of sales closed divided by the total number of opportunities created; calculates another opportunity to track sales | ||||
| order getters | highly trained salespeople who know their products, services involved, and competition across the street | ||||
| order takers | sales personnel that are responsible for taking orders from customers by identifying the customer and finding the right product fit | ||||
| outside order takers | salespeople out in the trenches, visiting customers and delivering inventory to retailers and wholesalers | ||||
| personal selling | communication between a buyer and seller. The primary responsibility is to build a relationship with the buyer. | ||||
| point-of-purchase displays | displays that allow manufacturers to showcase their products in a way that stands out from all the other products in the store | ||||
| pre-approach stage | the stage of the sales process where the salesperson will work to understand the needs of the customer and begin working with them to become a customer | ||||
| premiums | a promotional tool that is often defined in three forms: merchandise offered at a lower price or free; an item of value, other than the product; souvenir merchandise | ||||
| presentation | the stage of the sales process where the salesperson showcases the features about a product that will be of most benefit to the prospect based on the needs uncovered during the pre-approach and approach stages | ||||
| prospect | a potential qualified customer who has the willingness, financial capacity, authority, and eligibility to buy the salesperson’s offering | ||||
| qualification | the process the salesperson undertakes to make sure the sales lead is a good fit for the product they are selling | ||||
| quantitative assessments | numbers driven and based on inputs and outputs of the sales cycle | ||||
| rebates | a form of promotion that rewards consumers for sending information to the company | ||||
| relationship selling | a method of personal selling used to better understand the needs and wants of the buyer | ||||
| sales force automation | a software tool that helps organizations acquire customers | ||||
| sales leads | a database of potential customers that sales professionals work to create and develop through lead generation | ||||
| sales promotion | a short-term way of enticing the consumer to purchase a product or service | ||||
| samples | providing consumers with a free sample of a product is a form of promotion | ||||
| selling process | includes all of the steps the salesperson will implement as they work with the buyer to become a customer | ||||
| support personnel | fulfill the responsibilities that assist the sales team in supporting the customer and completing the sale | ||||
| sweepstakes | a marketing or consumer sales promotion that involves the offering of prizes to participants, where winners are selected by chance and no consideration is required | ||||
| team selling | the practice of involving a group of people familiar with the viewpoints and concerns of a customer’s key decision makers to sell and service a major account | ||||
| technical specialist | a salesperson who has extensive product knowledge and uses this knowledge as the focal aspect of the sales presentation |