MKT 504 Study Guide - Midterm Guide: Records Management, Upselling, Best Alternative To A Negotiated Agreement
27 Mar 2013
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Document Summary
Prospecting is a systematic process of identifying potential customers. Prospect is a potential customer who meets the qualification criteria established by you or your company. Buying centre the group of people involved in making a purchase decision: members may include a technical influencer, user influencer, and financial influencer. Prospect base is a list of current and potential customers. Promotion, retirement, resignation, or illness: sales are lost to competition. Progressive marketers are doing three things to improve the quality of the prospecting effort: Improve the quality of the prospects: shorten the sales cycle by quickly determining which of the new prospects are qualified prospects. Referral is a prospect who has been recommended by a current customer or by someone who is familiar with the product or service. Centre-of-influence establishing a relationship with a well-connected influential person who is willing to provide information about potential prospects. Trade publications provide a status report on every major industry.
