BET430 Lecture Notes - Lecture 1: Bant, Retail

• School: University of Waterloo
• Department: Business, Entrepreneurship and Technology
• Course: BET430
• Professor: Kevin Hood

Document Summary

Customers tell other customers, driving steps 1 and 2: sustainable sales. Marketing and sales strategies: b2c marketing emphasis, online, store, b2g rfp, vendor list, many rules, b2b sales emphasis, relationships. The sales funnel conversion ratio : target market and database leads (1000, marketing campaigns contact (100, marketing qualified leads engagement (10, sales qualified leads commitment (3, agreement and sale revenue (1) Lead: someone who we think needs or wants what you are selling. Marketing qualified leads: someone who demonstrates interest in what your are selling. Sales qualified lead: someone who has the budget, authority, need and timeframe (bant) to buy what you are selling. Customer: someone who buys from us and/or refers other to us consistently which provides our long term sustainable sales. Market demand: supply and demand demand and supply, understand the market demand for your products and services, need (has to be purchased) vs want (optional to purchase)