Glossary of Sales Terms

B

B1G1F

Promotions are short-term methods of boosting sales or awareness of a product.  'B1G1F' also known as 'BOGOF' is an acronym of 'Buy 1 Get 1 Free' - A promotion where if you buy one product, such as a chocolate bar, you are entitled to a second chocolate bar for free.  The term 'B1G1F' is more familiar in the 21st Century as 'BOGOF' - with the same meaning, 'Buy One Get One Free'.  This derivation reflects the acceptance of cheeky words today, as the term 'BOG OFF' is a colloquial expression meaning 'Go Away'.

B2B

When seeking to sell to prospective customers (prospects), marketing people generally segment the market in to selling to businesses and selling to consumers.  In other words, if you have a business and you wish to sell to other businesses - this is known as 'Business to Business' or 'B2B'. 

B2C

When seeking to sell to prospective customers (prospects), marketing people generally segment the market in to selling to businesses and selling to consumers.  In other words, if you have a business and you wish to sell to consumers  - this is known as 'Business to Consumer' or 'B2C'.

Banner Ad

With the advent of the Internet, advertisers realised that any website could become an advertising platform.  Over time, spaces on web sites have become defined in terms of pixel size, providing a set of agreed sizes of Internet advertisements, which have become known as a 'Banner Ad'.  These 'Banner Ads' generally use graphics and are sometimes animated (moving images).

Billboard or Poster

In the 21st Century, a 'Billboard or Poster' is still an effective method of advertising by using outdoor signage.  Today, these may be electronic or revolving images to fit several revolving advertisements in to one billboard.

Bingo Card

All advertising involves a cost, but one of the less expensive methods of advertising in magazines is the 'Bingo Card'.  A 'Bingo Card' is a reader reply card, generally placed near the back of a hard-copy publication.  The 'Bingo Card' generally features many numbers relating to products.  The numbers can be circled by the reader to pick the products they are interested in - and the card posted back to the publisher to gain further information.

Brand Name

When a company sells products they generally try to build a relationship with their customers, so that their customers can recognise their range of products.  In the farming industry, livestock have often been 'branded' with some form of mark to prove who owns them.  In the modern world, this has now extended to all forms of products and services, so that customers can easily identify a 'Brand Name'.

Brochure

In selling a product it is necessary to provide the right information, to help steer a prospect towards purchasing.  To an extent, websites have now partially taken the role of a 'Brochure'.  A 'Brochure' can be defined as any booklet that has at least 4 pages and promotes a product or service.  Today, a 'Brochure' may be in either hard-copy or electronic format.  Due to environmental concerns over cutting down trees - there is an ever-increasing move to electronic brochures. A 'Brochure' falls under the broader heading of 'Marketing Collateral'.

Bulk Mailing

When conducting a direct mail campaign, 100s, 1000s or maybe millions of peices of mail are sent out.  'Bulk Mailing' refers to the sending of identical pieces of mail in large volumes.  Delivered en-masse to the Post Office - 'Bulk Mailing' companies can then apply for discounts on mailing rates for sending large quantities of post.

Business Development

'Business Development' is a broad term covering numerous strategies and tactics to create and expand the economic capabiliities of an organisation.  'Business Development', often shortened to 'Biz Dev' is a process of combining the appropriate sales and marketing methods to attain the organisation's overall business objectives.  A typical 'Business Development' Director 's role will encompass a broad range of business skills spanning all company departments including administration, finance, legal, marketing and operations.  'Business Development' varies from Sales or Marketing per se and uses an holistic approach utilising the skills and techniques of sales and marketing. 

To give an example, marketing may create awareness, promotions may entice new business, and sales may close orders; but 'Business Development' could extend to gaining intelectual property rights (Legal) to protect sales, provide new financial models (e.g. Factoring = Finance) to provide more rapid market penetration, change the way in which customer data is handled (e.g. CRM = Administration) to increase revenue from market data, or further the development of new technologies (Operations) to take promote a technology-based marketing advantage.


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