Glossary of Sales Terms
P
Penetration
The Marketing Universe, or total
available data on a who a product could be sold to is an important part
of defining and forecasting how many sales could be made.
'Penetration' in this context refers to the percentage of that
Marketing Universe that were sold to for a specific campaign during a
specified time period.
Profile
It is not possible to
sell a product to everyone on the planet, so when planning sales one
must try to define those who are most likely to buy. The most
cost-effective sales campaigns start by building a 'Profile' of
potential buyers such as location, sex, age, net worth, etc. See also
Demographics and Target Audience.
Promotion
'Promotions'
fall in to the category of Advertising. A 'Promotion' is a short-term
sales tool with the intention of increasing awareness and/or sales of a
product within a given time period. A 'Promotion' is generally used
when trying to enter a market or where competition is very strong.
There are many forms of promotion, one example is to offer a money back
guarantee if not satisfied with the product.
Prospect
In sales, the terms Suspect, Prospect and Customer are used to define the current status of whether a person or organisation will purchase one's products. Suspect and Prospect are often rounded up as Prospective Customers or 'Prospects', whilst those who have already bought become Customers.If you find this website useful, and you require more sales, why not contact the author directly:
Tel. 0870 042 1263
Email: stephen@sl-freelance.co.uk
www.sl-freelance.co.uk
or read my blog at www.freelancetelemarketing.org.uk