1. Demography: A study of the population.

2. Demographic segmentation. Dividing the population  into age, gender, income

and socio-economic groups amongst other variables..
3. Early Adopter: Those who adopt a product/service in the early stages of its
lifecycle.
4. Early Majority: Those who adopt a product/service after it has been established
and excepted as the standard. 
5. Engels Law: Suggest that peoples spending patterns change as their income rises.
6. Exclusive distribution: Limiting the distribution of a product to particular retail
store to create an exclusive feel to the brand/product.
7. Econometric modeling: Application of regression techniques in marketing
analysis
8. Focus Group:   A simultaneous interview conducted amongst 6-8 respondents. 
The aim is to obtain qualitative information on the given topic. 
9. Geographic segmentation: Dividing the market into certain geographic regions
e.g. towns, cities or neighborhoods.
10. Innovator:  Those consumers who are the first to adopt a product/service at the
beginning of its lifecycle. They are usually willing to pay a premium to have the
benefit of being the first.
11. Intensive distribution: Distributing a product to as many retail outlets as
possible.
12. Laggards:  Those consumers who adopt the product/service as it reaches the end
of its lifecycle. They usally pay a competitive price for the benefit of waiting.
13. Lifestyle segmentation:  Analyzing consumers activities, interest and opinion
(AIOs) to develop a profile on the given segment.
14. Market Development Strategy: Selling an existing product/service in a new and
developing market. 
15. Mass marketing: The promotion of a product or service to all consumers.
16. Marketing Mix:  The strategy of the organisation consisting  of products, price,
place and promotion strategy (also known as the 4p's).  
17. Marketing Planning:  A written document which plans the marketing activities
of an organisation for a given period. The document should include an
environmental analysis, marketing mix strategies and any contingency plans
should an organisation not reach their given objectives.
18. Market position: The perception of a product or an organisation from the view of
the consumer.
19. Market research:  Analysing and collecting data on the environment, customers
and competitors for purposes of  business decision making.
20. Modified Rebuy:  Where an organiation has to make changes to a  specific
buying situation.
21. New buy:  Where an organisation faces the task of  purchasing a new
product/service.  
22. Niche marketing: The process of concentrating your resources and efforts on one
particular segment
23. Objective to task method:  Setting a advertising budget based on the desired
goals of the communication campaign.
 24. Open ended questions:   Questions which encourage the respondent to provide
their own answers.
25. Paretos Law (80/20) :  A rule which suggests that 80% of an organisations
turnovers is generated from 20% of their customers.
26. Penetration pricing: A pricing strategy where the organisation sets a low price to
increase sales and market share.
27. Perceptual map:  Mapping a product/organisation alongside all competitors in
the hope to find a ' positioning gap' in the given market.
28. Personal selling: Selling a product or services one to one. 
29. Primary data:  The process of organising and collecting data for an organisation.
30. Product Development Strategy:  The development of a new product/service
aimed at the organisation existing market.  The aim is to increase expenditure
within the segment.
31. Product Life Cycle: The life stage of a product,  includes,  introduction, growth,
maturity and decline.
32. Product Cannibalisation: Loosing sales of a product to another similar  product
within the same product line.
33. Public relations:  The process of  building good relations with the organisations
various stakeholders. 
34. Relationship marketing: Creating a long-term relationship with existing
customers. The aim is to build strong consumer loyalty.
35. Sales promotion:  An incentive to encourage the sale of a product/service e.g.
money off coupons, buy one, get one free.
36. Secondary data: Researching information which has already been published.
37. Segmentation: The process of  dividing a market into groups that display similar
behaviour and characteristics.
38. Skimming pricing:   A pricing strategy where an organisation sets an initial high
price and  then slowly lowers the price to make the product available to a wider
market.
39. Straight Rebuy: Where an organisation reorders without modification to the
specification.
40. SWOT analysis: A model used to conduct a self appraisal of an organisation. The
model looks at internal strengths and weaknesses and external environmental
opportunities and threats.
41. Test marketing: Testing a new product or service within a specific region before
national launch.
42. Usage segmentation: Dividing you segment into non, light, medium or heavy
users.

Sales Terminologies

Most sales people have their own lingo or language. If you walked down the hall
out our office, you’d think you were in another country. We have slang for almost
everything, and in this section, we’re going to cover “common” terms that most
sales industries use. (We’ve included a larger glossary of terms at the end of this
course)
Lead: A Prospect is any candidate who may have a desire or need (currently or in
the future) to purchase your product or service.

Prospect: Generally refers to a Lead who has actually “stepped-forward” to make

his or her interest in your product known.

Calls (sales calls): Most sales people learn very quickly what calls are. “Calls” or
“making calls” means contacting or attempting to contact someone who may be a
Prospect to purchase your product or service. Most companies provide their sales
team with names and numbers of possible Prospects. 

Calls can be made in-person or via the phone. If you’re calling on a Prospect who
has no idea that you’re planning on calling and doesn’t know you or any of your
customers, you’re making a COLD-CALL. 

Cold Call: Cold-calling, while being a very effective method of gaining new

business, is also one of the most inefficient methods possible. It can take
HUNDREDS of calls to find ONE good Prospect (a Prospect above or near the
Buy-Line.) Cold-calling is also one of the leading reasons for the high failure rate
in most direct sales industries. It makes sense! Who wants to call strangers all day
to experience rejection after rejection! There are many other ways to find fantastic
Prospects, while saving a ton of time in the process!

QUALIFIED Prospect: A QUALIFIED Prospect is a Prospect who verbally

expressed interest in your product, and who admitted to being able to make a
purchasing decision.

Appointments Set: Appointments set represent how many scheduled,

QUALIFIED meetings you have planned with QUALIFIED Prospects. 

Demos (presentations): A demo is the act of “pitching” or “presenting” your

product or service. Demos can be done in-person or over the phone
(phone demos.) As a rule of thumb, we allow reps to count a presentation as a
demo ONLY if they got through enough of it to discuss price or payment. 

Sales: Getting a sale means you secured a signed contract (or P.O. number in
some industries.) NEVER count a demo as a sale UNLESS the Prospect firmly
committed. In our company, we limit ‘real’ sales to those where a contract was
actually signed. There’s nothing worse then “banking on” a sale that never
materializes (like in the movie Jerry McGuire when Jerry thinks he signed the
number one draft pick- he celebrated but later found out the sale never had really
happened (no signed-contract!) You may find yourself wanting to count a demo
as a sale, but DON’T do it unless you have the contract signed!

Dollars (Sales Dollars): The total dollar amount of your sale.

Average dollar per sale: Your total sales dollars divided by your total number of
sales.

Closing Ratio: Total number of sales (in a given time period) divided by your total
number of demos or presentations. Example: 10 sales this month divided by 20
total presentations equals a 50% closing ratio.

Pipe-Line: How many deals you have that you feel will close in a particular
period.

Quota: The minimum productivity expected from a sales person to keep his

job. Usually measured in dollars and evaluated monthly or quarterly.