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MKT 444 Exam #1 > Chapter 4 > Flashcards

Flashcards in Chapter 4 Deck (17)
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1

Prospecting

any activity used to discover potential new customers

2

Lead generation

the process of identifying potential customers

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Identifying leads

process of generating names of potential customers

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Qualifying leads

evaluating potential customers in terms of how likely they are to buy

5

Leads

names and addresses of potential customers

6

Referral

when a third party voluntarily provides the name of a potential customer

7

Networking

developing professional and social contact with others

8

Cold calling

making unsolicited calls to people or firms to sell to them

9

Warm calling

a variation of cold calling involving preliminary research on the prospect

10

Email Prospecting

sending unsolicited emails to a contact list to invite them to find out more information about your product

11

Social Selling

using social media to interact with potential customers

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Marketing Qualified Leads (MQLs)

potential customers who have intentionally shown interest in a product through their online actions or behaviors

13

Sales Qualified Leads (SQL)

leads that have been vetted by salespeople and judged to have a high potential to actually purchase the product

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Sales cycle

average amount of time it takes a new prospect to become a customer

15

Conversion ratios

calculations in percent of how many prospects become qualified prospects, how many qualified become hot, and how many hot prospects become customers

16

Outbound Marketing

traditional approach to marketing, including radio, TV

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Inbound Marketing

efforts that utilize internet technology to find potential customers who are actively searching for a product