Sales and Marketing Glossary | |
 This glossary (sales dictionary) contains the most extensive list of sales terms on the web! If we've missed a sales definition please let us know. | |
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| There are 46 entries in the glossary. | |
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| Term | Definition |
| NAICS | north american industry classification system - developed jointly by the U.S., Canada, and Mexico to provide new comparability in statistics about business activity across North America |
| national account | a customer with branches or sites that constitute a nation-wide coverage |
| national account marketing | the creation of marketing teams or groups within a company specifically to meet the needs of major client organisations, the teams or groups usually consist of marketing and sales personnel and could include engineers, production specialists etc |
| national accounts | major accounts which are sometimes served by a separate salesforce because of their importance, account specialists try to meet their special needs and to develop close relationships with key personnel, also referred to as direct accounts and house accounts |
| national introduction | the immediate launch of a new product on a nation-wide scale, because of the risk and the substantial investment in production and marketing that a national introduction requires, many organisations choose rollout approach instead |
| national marketing manager | a marketing manager with the responsibility for the nation-wide operations of a marketing division |
| national sales manager | a sales manager with responsibility for the nation-wide operations of a sale division |
| near-pack premium | a sales promotion in which a gift is to be collected from elsewhere in the store by consumers who have purchased a particular product, usually found in supermarkets, see in-pack premium, on-pack premium, premiums, and with-pack premium |
| need objection | an objection by a prospective buyer that they have no need for the product offered by a salesperson |
| need-directed consumers | one of three broad groups of consumers (with outer-directed consumers and inner-directed consumers) identified in the Stanford Research Instituteís survey of American lifestyles, need-directed consumers, representing about ten per cent of consumers in the U.S., are motivated by need rather than by choice, see inner-directed consumers and outer-directed consumers |
| need-gap analysis | an approach to identifying the unmet needs of consumers, in which respondents are asked to envisage the ideal brand or product and then to rate various existing brands or products on key attributes, if no existing brand or product measures up to the ideal, a gap exists which could be filled by a new brand or product |
| need-satisfaction approach | an approach to selling based on soliciting information to uncover a buyer's need before attempting to present an appropriate product from the range to satisfy it |
| needs | innate feelings of deprivation in a person, see wants |
| needs based selling | where the salesperson doesn't "sell", instead she or he helps the prospect or customer make an informed purchasing decision based on their identified needs |
| needs-creation selling | sales person looks for and helps create a need in the mind of the prospect for their products or services even if no needs were apparent, obvious or existed to the prospect before speaking to the sales person, the method was for the sales person to question the prospect to identify, discover (and suggest) organizational problems or potential problems that would then create a need for the product or service |
| negative demand | demand for products which consumers dislike and would prefer not to have to purchase, negative demand for a particular product exists when consumers, generally, would be prepared to pay more than the price of the product to avoid having to buy it, as in the case of unpleasant and painful medical treatment |
| negotiated contract | a formal arrangement for the supply of goods or services at a price agreed upon both the buyer and seller |
| negotiated price | a price agreed upon for the supply of goods or services by both buyer and seller |
| negotiated rate | a non-standard charge for the carriage of goods agreed to by both manufacturer and transport company |
| negotiated selling | a selling approach in which a salesperson attempts to produce a "win-win" outcome for both parties, the approach entails the assumption of a partnership between buyer and seller, the salesperson acting as a advisor to assist the buyer to find the best solution to a problem |
| negotiation / negotiating | the trading of concessions including price reductions, between supplier and customer, in an attempt to shape a supply contract (sale) so that it is acceptable to both supplier and customer, negotiations can last a few minutes or even a few years, although generally it's down to one or two meetings and one or two exchanges of correspondence, ideally, from the seller's point of view, negotiation must only commence when the sale has been agreed in principle, and conditionally upon satisfactory negotiation, however many sales people fall into the trap set by most buyers - intentionally or otherwise - of starting to negotiate before the selling process have even commenced |
| networking | establishing an informal set of contacts among people with common social and business interests as a source of prospects, for the exchange of information, and for support |
| new account-conversion ratio | a measure used to evaluate a salespeople in which the conversion rate of prospects to customers is calculated |
| new product committee | a group within a company responsible for new product policies, including the assignment of priorities to options and ideas for new products and the final decision on whether or not to commercialize them |
| new product development | the creation of new products needed for growth or to replace those in the decline stage of their life-cycle, the stages in the new product development process are commonly listed as idea generation, screening, concept development and testing, the formulation of marketing strategies, business analysis, production, market testing, and commercialization |
| new product duplication | the introduction by a company of a product that is known to the market but new to the company |
| new products | products which are "new" in one or other of two - new to a company or new to a market, they include existing products which have been improved or revised, brand extensions, additions to existing line, repositioned products targeted at to new markets, and new-to-the-world products |
| new task buying | an organisational buying situation in which the organisation has had no previous experience with the purchase of product of the kind required |
| new-to-the-world products | products which serve a purpose for which no product has previously existed |
| niche | a small defined target market that may have few or no competitors |
| no-need objection | an objection raised by a prospective buyer on the ground that the product offered by a salesperson is not needed |
| non-family households | singles and non-related individuals living together, the increase in the number of non-family households is an important feature if the changing demography in recent years |
| non-manipulative selling techniques | methods used in selling where a salesperson, rather than trying to force an unwanted product on a customer by high-pressure means, works with the customer to identify a genuine need and to provide a satisfying solution |
| non-monetary awards | compensation that is not cash, such as travel and merchandise, it includes other non-taxable items such as gifts and plaques/pins |
| non-monetary price | that which it costs a consumer, other than money, to buy a product, the non-monetary price of purchasing a product includes the time devoted to shopping for it and the risk taken that it will deliver the expected benefits, - non-monetary price is an important concept in social marketing - for example, the price of avoiding the cancellation of a driver's license is the abstinence from alcohol if driving |
| non-packaged goods | a sub-category of consumer non-durables, for example, gasoline is a non-packaged consumer non-durable good |
| non-price competition | competition in which an element other than price (e.g. prestige, convenience, taste etc) is the major means of differentiating the product of one company from that of a rival |
| non-probability sample | a sample in which the chance of an individual within the total population being chosen is not known |
| non-probability sampling | the selection of a sampling unit by arbitrary methods, such as convenience and judgment |
| non-profit marketing | marketing activity undertaken by a firm whose primary objective is one other than profit, sometimes called non-business marketing |
| non-profit organizations | organizations that buy and distribute goods and services for reasons other than the return of profit to their owners |
| non-recoverable draw | a draw that cannot be recovered or retrieved by an employer regardless of employment status of the individual who received the draw and whether or not the draw paid exceeds commissions earned |
| non-selling activities | tasks other than selling activities which form part of a salesperson's duties and responsibilities, e.g. paperwork, reports, training, and sales meetings, etc |
| non-store retailing | the merchandising of goods by means other than retail shops, merchandising by mail order, vending machines, telephone, door-to-door, etc |
| nonverbal communication | the transmission of a message from sender to receiver without using words |
| normative influence | the influence exerted on an individual by a reference group to conform to its norms |
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