Glossary

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Example and Directions
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

Glossary Entries
Word(s)	Definition	Image	Caption	Link	Source
“I have to think about it” objection	An objection that is actually a stall.
action plan	A specific method of approach for each customer.
advantage	The performance characteristic of a product that describes how it will help the buyer.
agenda approach	Sales approach in which you open your sales call by giving the customer an overview of your call agenda.
alternative-choice close	Gives the prospect a choice between two options rather than a choice between buying and not buying.
approach	The first few minutes of a sales call, during which the salesperson explains her purpose for coming and establishes a rapport.
assumptive close	Includes a question that when the prospect replies, he is committing to the sale.
benefit	The result a buyer will realize because of the product advantage.
benefit summary close	Summarizes the benefits of the product or service as you have discussed them throughout the process.
Body language	Nonverbal communication using body elements such as gestures, facial expressions, eye contact, and proximity.
bonus	An incentive paid to sell a particular product or service or to reach a specific sales goal.
bribe	Money or favor given or promised in order to influence the judgment or conduct of a person in a position of trust; something that serves to induce or influence.
business journals	A publication offering business news and industry information that is usually specific to a certain region.
business plan	A document that details everything about the business from the product position in the marketplace to the financial information for the next three years.
buying center	Cross-functional team of people who make buying decisions on behalf of the company or organization.
buzz words, jargon	Words, phrases, or acronyms that are used only in a company.
call cycle	The frequency at which you call on each of your customers (e.g., once every twenty days).
Call-to-sale ratio	Percentage of calls that result in a sale.
canned presentation	A selling presentation that is exactly the same for every customer.
channel	The method by which a message is communicated.
character	Features and beliefs that define a person.
Closed-ended questions	Questions that demand a yes or no response.
Closing	Bringing the sale to fruition or getting the sale.
Cold calling	Making an unsolicited phone call or visit to a sales lead.
cold-contact, unsolicited applications	Employment prospecting in which the applicant submits a cover letter and résumé even though a position has not been advertised.
combination of closes	Using more than one of the closing approaches together to gain agreement on the sale.
compensation	Money and benefits received in exchange for providing services to a company including elements such as salary, commission, bonus, benefits, and any other elements in payment for providing services.
complex sale	Sale of a high-value product or service (usually over $100,000) that may take years to close.
compliment, vanity close	Relates the purchase to the person and appeal to his or her sense of identity by paying a compliment.
concessions	A point on which you are willing to compromise.
conflict of interest	A situation in which a person in a position of power may benefit personally from his actions or influence.
consumer	The end user of a product or service.
contact management system, CMS	A system for tracking and organizing customer and prospect information that is less complex than CRM and doesn’t necessarily keep a record of every customer contact.
Conversion KPIs	Measure of a salesperson’s productivity or efficiency that do not have outcomes, such as sales per customer or closing ratio.
cost-benefit analysis	Quantifies the costs of a purchase in relationship to the benefits it provides.
counteroffer	A candidate’s response to a job offer.
Crowdsourcing	Situation in which a company takes a job that is normally performed by an employee and puts out an “open call,” usually on the Internet, for people all over the world to work on it.
customer benefit approach	Opening the sales call by directing your prospect’s attention to a specific benefit of your product or service.
customer relationship management, CRM	The process a company uses to organize and track their current and potential customer information.
deadlock	A point in the negotiation at which discussions stop due to disagreement on an issue.
decision maker	The person or people who are responsible for making the final purchasing decision at a company.
demonstrate capability	In SPIN selling this is the step of the sales call in which you show your prospect that your solution can solve her problems.
Detractors	Unhappy customers that are likely to share their bad experiences via word of mouth or social networking; those who respond to the NPS question with a score of 0 to 6.
digital immigrants	People who did not grow up with interactive technology but have adopted it.
direct marketing	Communication in the form of mail or e-mail that is sent directly to a lead.
Direct request close	Asks the prospect for the order.
elevator pitch	A concise description of a product, service, person, or project that should take no longer than an average elevator ride and is designed to get conversation started.
employee handbook	Written policies of a company as they relate to the ethical actions of its employees.
Entrepreneurs	A person who has an idea and takes on the risk of bringing the concept to market.
Entrepreneurship	Starting a new concept as a result of an idea that fills a need and taking the risk to bring the idea to market.
esteem needs	Feelings of being respected and appreciated by one’s peers.
esteem needs	Feelings of being respected and appreciated by one’s peers.
ethical dilemma	A situation in which options are presented which may be right or wrong.
ethical dilemma	A situation in which options are presented which may be right or wrong.
Ethics	Moral principles that define what is right and wrong.
Ethics	Moral principles that define what is right and wrong.
Etiquette	Manners, customs, and protocols that are the norm in specific situation.
Etiquette	Manners, customs, and protocols that are the norm in specific situation.
exploratory questions	Open-ended, nonthreatening questions that encourage your prospect to discuss their business needs.
exploratory questions	Open-ended, nonthreatening questions that encourage your prospect to discuss their business needs.
expressive	A social style that describes people who rely on their feelings to make decisions.
expressive	A social style that describes people who rely on their feelings to make decisions.
FAB	Selling technique that focuses on Features, Advantages, and Benefits.
FAB	Selling technique that focuses on Features, Advantages, and Benefits.
Family interests	A situation in which a relative has influence over the hiring of a family member.
Family interests	A situation in which a relative has influence over the hiring of a family member.
feature	A physical characteristic of a product.
feature	A physical characteristic of a product.
follow-up	The final step of the process in which the salesperson assures customer satisfaction and maintains customer relationships.
follow-up	The final step of the process in which the salesperson assures customer satisfaction and maintains customer relationships.
franchisee	A person or organization that pays to use a company’s name and market its products.
franchisee	A person or organization that pays to use a company’s name and market its products.
free market system	An economy in which an individual’s success is dictated by demand on the part of the consumer, not by the government.
free market system	An economy in which an individual’s success is dictated by demand on the part of the consumer, not by the government.
front-line employees	Employees who interact with customers on a day-to-day basis, such as salespeople.
front-line employees	Employees who interact with customers on a day-to-day basis, such as salespeople.
gatekeeper	The secretary or assistant whose job it is to screen calls or “guard” the entrance to an executive’s office. In B2B sales this is someone you often have to go through first before seeing your prospect.
gatekeeper	The secretary or assistant whose job it is to screen calls or “guard” the entrance to an executive’s office. In B2B sales this is someone you often have to go through first before seeing your prospect.
general benefit statement	An opening statement for a sales call that gives the big picture of how your solution meets your prospect’s need.
general benefit statement	An opening statement for a sales call that gives the big picture of how your solution meets your prospect’s need.
Gifts	Something received without compensation or exchange.
Gifts	Something received without compensation or exchange.
gross profit	The difference between sales generated and the cost of the product or service.
gross profit	The difference between sales generated and the cost of the product or service.
hard skills	Technical knowledge required to perform a specific job.
hard skills	Technical knowledge required to perform a specific job.
hedonic needs	Emotional needs that are served by products or services that bring pleasure.
hedonic needs	Emotional needs that are served by products or services that bring pleasure.
heroic recovery	Response to a service failure that delights the customer.
heroic recovery	Response to a service failure that delights the customer.
hidden objection	An objection that is not openly stated by the prospect but is an obstacle in the way of making the sale.
hidden objection	An objection that is not openly stated by the prospect but is an obstacle in the way of making the sale.
implication questions	Questions that help uncover the consequences or effects of a prospect’s recognized problems.
implication questions	Questions that help uncover the consequences or effects of a prospect’s recognized problems.
influencer	A person who has a role and perhaps some authority in the purchasing decision at a company but is not the sole decision maker.
influencer	A person who has a role and perhaps some authority in the purchasing decision at a company but is not the sole decision maker.
informational interview	A meeting with a professional to learn more about pursuing a career in a specific industry, profession, or job.
informational interview	A meeting with a professional to learn more about pursuing a career in a specific industry, profession, or job.
initial public offering (IPO)	When a company issues common stock for the first time.
initial public offering (IPO)	When a company issues common stock for the first time.
internships	An educational arrangement that provides experience in a work situation.
internships	An educational arrangement that provides experience in a work situation.
Investigation	The second and most critical step of SPIN selling that involves asking questions to uncover your buyer’s needs.
Investigation	The second and most critical step of SPIN selling that involves asking questions to uncover your buyer’s needs.
investors	People or firms who are willing to invest financial support based on the potential for the success of the business.
investors	People or firms who are willing to invest financial support based on the potential for the success of the business.
key accounts	An existing customer that is (or has the potential to be) a significant source of sales for your company.
key accounts	An existing customer that is (or has the potential to be) a significant source of sales for your company.
key performance indicators (KPIs)	Measures of productivity that relate to achieving goals.
key performance indicators (KPIs)	Measures of productivity that relate to achieving goals.
letters of recommendation	Letter written by a professional (supervisor, manager, professor, or other professional) to testify to the skills and characteristics of a job candidate.
letters of recommendation	Letter written by a professional (supervisor, manager, professor, or other professional) to testify to the skills and characteristics of a job candidate.
lifetime value	The worth of the transactions that are done with a customer over the life of a relationship with a company.
lifetime value	The worth of the transactions that are done with a customer over the life of a relationship with a company.
Listening 2.0	Taking the time to “listen” to the online conversation before you begin broadcasting your message.
Listening 2.0	Taking the time to “listen” to the online conversation before you begin broadcasting your message.
Mehrabian formula	Formula used to explain situations in which verbal communication and nonverbal communication do not match; in other words, when facial expressions contradict words, people tend to believe the facial expressions.
Mehrabian formula	Formula used to explain situations in which verbal communication and nonverbal communication do not match; in other words, when facial expressions contradict words, people tend to believe the facial expressions.
mental rehearsal	Running through a scenario (like your sales presentation) step-by-step in your mind before you go into the situation.
mental rehearsal	Running through a scenario (like your sales presentation) step-by-step in your mind before you go into the situation.
modified rebuy	A product or service that is already being purchased, but the specifications are changed.
modified rebuy	A product or service that is already being purchased, but the specifications are changed.
moment of truth	Any time the customer comes in contact with a brand.
moment of truth	Any time the customer comes in contact with a brand.
money objection	A concern voiced by the prospect that relates to the budget or financial ability to make the purchase.
money objection	A concern voiced by the prospect that relates to the budget or financial ability to make the purchase.
Moonlighting	Holding a second job.
Moonlighting	Holding a second job.
need-payoff questions	In the SPIN model these questions ask the prospect how your solution could be important or useful to his problem.
need-payoff questions	In the SPIN model these questions ask the prospect how your solution could be important or useful to his problem.
negotiating	The act of discussing an issue between two or more parties with competing interests with the aim of coming to an agreement.
negotiating	The act of discussing an issue between two or more parties with competing interests with the aim of coming to an agreement.
Net Promoter Score (NPS)	Compiled results of customer responses to the question, “How likely are you to recommend this product or company to a colleague or friend?”
Net Promoter Score (NPS)	Compiled results of customer responses to the question, “How likely are you to recommend this product or company to a colleague or friend?”
Networking	The art of building mutually beneficial relationships.
Networking	The art of building mutually beneficial relationships.
new-task buy	A purchase made by a company for the first time.
new-task buy	A purchase made by a company for the first time.
noise	Anything that can interfere with the communication of a message between sender and receiver.
noise	Anything that can interfere with the communication of a message between sender and receiver.
nondisclosure agreement (or confidentiality agreement)	A contract that protects the secrecy of information that is exchanged.
nondisclosure agreement (or confidentiality agreement)	A contract that protects the secrecy of information that is exchanged.
objections	Hesitations or concerns a prospect might have about the product or purchasing process.
objections	Hesitations or concerns a prospect might have about the product or purchasing process.
Objections	Prospect questions or hesitancies about a product or company.
Objections	Prospect questions or hesitancies about a product or company.
obtaining commitment	The stage of the sales call in which you get an agreement to move to the next stage of the sale.
obtaining commitment	The stage of the sales call in which you get an agreement to move to the next stage of the sale.
offer letter	A formal letter from the company (on company letterhead) that outlines the terms of the offer for employment.
offer letter	A formal letter from the company (on company letterhead) that outlines the terms of the offer for employment.
onboarding	Employee orientation process or method for a new employee to learn about company practices, policies, and procedures.
onboarding	Employee orientation process or method for a new employee to learn about company practices, policies, and procedures.
Online professional social networking	Online communities that focus on business members and provide a platform for members to communicate and share with each other.
Online professional social networking	Online communities that focus on business members and provide a platform for members to communicate and share with each other.
open-ended questions	Questions that will help you probe further into the problem your product can solve.
open-ended questions	Questions that will help you probe further into the problem your product can solve.
opening	The first step in SPIN selling that paves the way for the rest of the sales call.
opening	The first step in SPIN selling that paves the way for the rest of the sales call.
organizational (or institutional) markets	Another term for B2B buying or selling, which means selling products or services to another company rather than selling directly to the ultimate consumer.
organizational (or institutional) markets	Another term for B2B buying or selling, which means selling products or services to another company rather than selling directly to the ultimate consumer.
organizations	Federal, local, and municipal government bodies and nonprofit groups such as churches, schools, American Red Cross, Salvation Army, and others that purchase products or services to serve or sell to constituents.
organizations	Federal, local, and municipal government bodies and nonprofit groups such as churches, schools, American Red Cross, Salvation Army, and others that purchase products or services to serve or sell to constituents.
patents	The right of exclusivity to make and market a specific product or service granted by the United States government.
patents	The right of exclusivity to make and market a specific product or service granted by the United States government.
pay period	The interval of time for which an employee is paid.
pay period	The interval of time for which an employee is paid.
personal responsibility	Acknowledging and accepting that you are accountable for your choices.
personal responsibility	Acknowledging and accepting that you are accountable for your choices.
personal risk	Potential exposure, hazard, or danger for a person, especially the potential of losing his job.
personal risk	Potential exposure, hazard, or danger for a person, especially the potential of losing his job.
physiological needs	The most basic elements required to survive such as food, shelter, and clothing.
physiological needs	The most basic elements required to survive such as food, shelter, and clothing.
portfolio	A collection of work samples from class projects, internship, volunteer projects, and any other work that demonstrates your skills.
portfolio	A collection of work samples from class projects, internship, volunteer projects, and any other work that demonstrates your skills.
power level	The level in a company or organization at which the buying decision is made.
power level	The level in a company or organization at which the buying decision is made.
preapproach	The preparation and research a salesperson does before making the sales call.
preapproach	The preparation and research a salesperson does before making the sales call.
precall objectives	Goals that are determined for the sales call before the call is made.
precall objectives	Goals that are determined for the sales call before the call is made.
precall planning worksheet	A document that details the goals you hope to achieve during a particular sales call.
precall planning worksheet	A document that details the goals you hope to achieve during a particular sales call.
premium approach	Offering free products or samples to attract a customer and build goodwill at the opening of a sales call.
premium approach	Offering free products or samples to attract a customer and build goodwill at the opening of a sales call.
prenegotiation goal	Objectives that are identified before a negotiation begins and which identify the minimum you are willing to accept to make the deal happen.
prenegotiation goal	Objectives that are identified before a negotiation begins and which identify the minimum you are willing to accept to make the deal happen.
presentation	The part of the sales call when the salesperson offers her solution for the prospect.
presentation	The part of the sales call when the salesperson offers her solution for the prospect.
private use of employer property	Using an employer’s property—cars, software, staplers, and so on—for nonbusiness purposes.
private use of employer property	Using an employer’s property—cars, software, staplers, and so on—for nonbusiness purposes.
problem questions	In SPIN selling, problem questions help uncover your prospect’s need.
problem questions	In SPIN selling, problem questions help uncover your prospect’s need.
producers	A B2B company that purchases parts, products, or ingredients for the production of other goods or services to sell at a profit.
producers	A B2B company that purchases parts, products, or ingredients for the production of other goods or services to sell at a profit.
product approach	Opening a sales presentation with a product demonstration.
product approach	Opening a sales presentation with a product demonstration.
product objection	A concern voiced by the prospect relating directly to the product.
product objection	A concern voiced by the prospect relating directly to the product.
professional organization	A nonprofit business group that is dedicated to supporting and improving the industry.
professional organization	A nonprofit business group that is dedicated to supporting and improving the industry.
professional references	Managers, supervisors, professors, mentors, and other professionals who can speak on your behalf about your character, experience, skills, quality of your work, and work ethic.
professional references	Managers, supervisors, professors, mentors, and other professionals who can speak on your behalf about your character, experience, skills, quality of your work, and work ethic.
proposal	A written document that outlines a company’s capabilities, delivery, and pricing in relation to a specific product or service.
proposal	A written document that outlines a company’s capabilities, delivery, and pricing in relation to a specific product or service.
proposal	Document that proposes the specific terms of the sale, including pricing, delivery time frame, and the scope of the products or services you are offering.
proposal	Document that proposes the specific terms of the sale, including pricing, delivery time frame, and the scope of the products or services you are offering.
prospect	A potential buyer for a product or service; also referred to as a qualified lead.
prospect	A potential buyer for a product or service; also referred to as a qualified lead.
public companies	A company that sells stocks and bonds to the general public.
public companies	A company that sells stocks and bonds to the general public.
qualified prospect	A prospect a salesperson has determined has the desire and ability to buy the product or service.
qualified prospect	A prospect a salesperson has determined has the desire and ability to buy the product or service.
question approach	Opening a sales call with questions that will engage your prospect in a dialogue.
question approach	Opening a sales call with questions that will engage your prospect in a dialogue.
r-commerce	The act of establishing and building relationships with customers.
r-commerce	The act of establishing and building relationships with customers.
referral approach	Mentioning an existing customer relationship to build credibility and trust at the beginning of your sales call.
referral approach	Mentioning an existing customer relationship to build credibility and trust at the beginning of your sales call.
reputation	Overall character as judged by other people.
reputation	Overall character as judged by other people.
request for proposal (RFP)	A formal request from possible suppliers to provide or create a specific product or service.
request for proposal (RFP)	A formal request from possible suppliers to provide or create a specific product or service.
Resellers	A company that buys finished goods, to sell, lease, or rent to other companies or consumers.
Resellers	A company that buys finished goods, to sell, lease, or rent to other companies or consumers.
retainer fee	Fixed fee that a customer will pay in advance to secure your services.
retainer fee	Fixed fee that a customer will pay in advance to secure your services.
return on investment (ROI) analysis	Shows the return (profit or cost savings) as a percentage of the initial investment.
return on investment (ROI) analysis	Shows the return (profit or cost savings) as a percentage of the initial investment.
safety needs	Concerns for personal security and well-being.
safety needs	Concerns for personal security and well-being.
Salary	A regular payment from an employer in exchange for services.
Salary	A regular payment from an employer in exchange for services.
sales approach	The third step in the selling process; the point at which you make contact with the customer.
sales approach	The third step in the selling process; the point at which you make contact with the customer.
sales cycle	The length of time it takes to go from the first contact with the customer to closing the sale.
sales cycle	The length of time it takes to go from the first contact with the customer to closing the sale.
sales funnel	An illustration of the way the sales process begins with a large pool of prospects and ends with a more focused number of buyers.
sales funnel	An illustration of the way the sales process begins with a large pool of prospects and ends with a more focused number of buyers.
sales manager	Person to whom a salesperson reports and who is accountable for delivering on sales goals.
sales manager	Person to whom a salesperson reports and who is accountable for delivering on sales goals.
Sarbanes-Oxley Act	Regulation of corporate financial practices and protection for people who report violations.
Sarbanes-Oxley Act	Regulation of corporate financial practices and protection for people who report violations.
self-actualization	Focus on learning new skills, taking on new challenges, and “being all you can be.”
self-actualization	Focus on learning new skills, taking on new challenges, and “being all you can be.”
selling process	A sequence of steps that builds a framework for selling.
selling process	A sequence of steps that builds a framework for selling.
service-level agreement (SLA)	A contract between a customer and a service provider that sets out the frequency, length of time, and expectations for providing the service.
service-level agreement (SLA)	A contract between a customer and a service provider that sets out the frequency, length of time, and expectations for providing the service.
Situation questions	In SPIN selling, situation questions deal with facts about the buyer’s existing situation.
Situation questions	In SPIN selling, situation questions deal with facts about the buyer’s existing situation.
SMART	An acronym to identify the elements of a successful sales goal: Specific, Measurable, Actionable, Realistic, and Time-bound.
SMART	An acronym to identify the elements of a successful sales goal: Specific, Measurable, Actionable, Realistic, and Time-bound.
Social entrepreneurialism	Using the concepts of entrepreneurialism to bring about social change.
Social entrepreneurialism	Using the concepts of entrepreneurialism to bring about social change.
social needs	Bonds or attachments to other people and feelings of love and belonging.
social needs	Bonds or attachments to other people and feelings of love and belonging.
source objection	A barrier presented by the prospect relating to your company or to you.
source objection	A barrier presented by the prospect relating to your company or to you.
specific benefit statement	Identifies the way a solution addresses a prospect’s particular situation and needs.
specific benefit statement	Identifies the way a solution addresses a prospect’s particular situation and needs.
SPIN	A customer centered sales model. SPIN stands for the four kinds of questions successful salespeople ask their customers: Situation, Problem, Implication, and Need-payoff.
SPIN	A customer centered sales model. SPIN stands for the four kinds of questions successful salespeople ask their customers: Situation, Problem, Implication, and Need-payoff.
stakeholders	All parties that have a stake in an organization including employees, customers, investors, the community, and others.
stakeholders	All parties that have a stake in an organization including employees, customers, investors, the community, and others.
straight rebuy	A routine repurchase of a product or service.
straight rebuy	A routine repurchase of a product or service.
strategic alliance	A business partnership in which all parties have something at risk and have something to gain.
strategic alliance	A business partnership in which all parties have something at risk and have something to gain.
student membership	Reduced fees offered to students as an incentive to join the professional organization.
subject matter expert	Being an authority in a specific industry or topic.
survey approach	Opening a sales call with a survey or questionnaire to better determine customer needs and preferences.
synergy	The working together of two or more things (companies, services, technology, ideas) that produces a greater effect than any one of those things could produce alone.
territory managers	Salesperson that is reponsible for the customers in a designated geographic area.
time management	The practice of organizing and prioritizing your activities to ensure that you can achieve your goals.
trade associations	An organization whose members are individuals or businesses that operate in a specific industry.
trade show	A gathering of resources for people in a particular industry or those who have a common interest in a topic.
trade Web sites	Web sites with content that is focused on a specific industry.
trial closes	An attempt to close the sale.
trial closing	Technique to test a prospect’s buying readiness.
triple bottom line	Measurement of company performance along three dimensions—social, economic, and environmental.
Unethical behavior	Acting in a way that is not responsible or deemed to be the standard of what is right, good, and fair.
Users	People in a company who use the product or service but may not be the decision maker in the buying process.
value	The worth that a product or service provides to a customer.
value proposition	The benefits of the product or service that a customer is willing to pay for.
Values	Guiding principles and beliefs that are important to you and define how you live your life.
Voice inflection	Verbal emphasis on certain words.
Wants	Products, services, or activities that enhance the quality of life, but which are not essential for survival.
Webinars	A meeting that takes place on the Internet that allows participants in remote locations to view what is on the screen and hear the speaker and ask questions.
whistle-blowers	One who publicly exposes the misconduct of a company or organization.
white papers	An informative report that offers practical solutions to a specific problem.
wiki, wikis	A collaborative Web site that allows multiple people to share information, documents, videos, and pictures.
win-win-win	All parties in a relationship win—your customer, you, and your company or organization.
written	Communication that is done by way of printed words on paper or a screen.

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