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Glossary of Sales Terms


Canvassing
It means cold-calling at the prospect’s office or by telephone in order to arrange an appointment.

Close
It is the last step of the selling process when the salesperson encourages the prospect to say yes and sign the contract.

Field
In sale, it means anywhere out of the office. Field sales people are those who travel around meeting customers in their sales territory.

Forecast
In sales, forecast means to predict what sales will be achieved over a given period of time.

Influencer
It refers to the person in the customer’s company who has the power to influence a decision-maker.

Lead-time
It is the time between order and delivery of a product.

Leave-behind
It is a premium left by a sales person with the prospective customer to remind the prospect of the sales call or product / service being sold.

List Broker
It is an agent who sells or rents mail, telephone or e-mail lists of sales prospects.

Market Share
It is the percentage of a product / service category’s sales that is captured by a particular product, brand or company.

Prospect
It means potential customers.

Sales Cycle
It describes the time and/or process between first contact with the prospect to when the sales is made.

Sales Funnel
It is a sales planning and management tool and is used to describe the pattern or actual achievement of changing the prospects into sales.

Telesales
The selling of products / services by telephone

Territory
It refers to the geographical area a sales person is responsible for.

Trial Close
It is a sales technique by which a sales person tests the customer’s readiness to buy.

Up Selling
It is a technique to sell additional products to an existing customer who has already planned to buy another of your company’s products.