Sales and Marketing Glossary

Comprehensive vocabulary flashcards covering terms, roles, concepts, and strategies in sales, marketing, and distribution.

account

A sales relationship with a group or individual.

account manager

A person who manages sales and relations with certain important customers.

advertising agency

A company that creates advertisements.

B2B

A sale that takes place between two businesses.

B2C

A sale that takes place between a business and a customer.

back-order

To order a product when it is not currently in stock.

bottom out

To reach the lowest value.

bring in

To find new customers and sell more products.

business development manager

A person who initiates and oversees growth opportunities for a company.

buzz

Talk or speculation about a product or event.

cold call

A call that is made to a potential customer, where the potential customer is not expecting it.

consignment

The act of entrusting goods to someone else, who sells them to the customer. Until a sale is made, the goods can still be claimed by the original owner.

consultative

Sales that occur after a consultation with the customer, where the salesperson determines the customer's needs, and then recommends a product.

consumer-oriented

A marketing mix that is geared towards the consumer's needs and wants.

direct materials

Raw materials used in the production of goods.

direct sales

Sales that occur as a result of a presentation or demonstration at the customer's location.

distribution center

A place from which goods are shipped across the world.

door-to-door

Sales that occur as a result of knocking on potential customers' doors and making a sales pitch.

down payment

A sum of money used toward the total purchase price in order to secure financing.

farmer

A salesperson who builds relationships within existing accounts.

fixed costs

Costs that remain the same no matter the output.

four Ps

A producer-oriented marketing mix model that includes product, price, promotion, and place.

hawking

Selling goods in a public place, such as a street.

hunter

A salesperson who looks for new sales opportunities.

in person

A sale that occurs when the salesperson meets with the customer to make the sale.

in stock

A condition in which a product is on hand and available for sale.

inside sales

Sales that occur at a fixed business location, where the customer comes to the salesperson.

layaway

The act of paying a deposit for a product in order to secure it for purchase later.

mark up

To price a product higher than cost.

marketing mix

The elements in a marketing plan.

media buyer

A person who buys advertising space in print or other media.

on the road

A phrase describing a salesperson who is traveling to different geographic locations.

out-of-stock

A condition in which an item is not in storage, and is not available for sale.

outside sales

Sales that occur outside of a fixed business location, where the salesperson travels to his or her customers.

overhead

The cost of maintaining a plant, office, or factory.

payment plan

An arrangement in which a customer pays a certain amount of money over time in installments.

price matching

The act of matching a competitor's low price in order to retain a customer.

pricing policy

The strategy by which a company determines wholesale and retail pricing.

producer-oriented

A marketing mix that is geared towards the producer's needs and wants.

public relations

The practice of maintaining a relationship between a company and the general public.

sales engineer

A person who provides technical help to customers, usually of manufacturing plants.

sales force

The team of professionals working together to increase sales.

seven Cs

A consumer-oriented marketing mix model.

state-of-the-art

Characterized by new and advanced technology.

target

To identify prospects that will most likely lead to a sale.

telemarketing

The practice of calling potential customers by telephone with the intention of selling a product or service.

variable costs

Costs that change based on the level of output.

warehouse

A storage area for goods.

wholesale

The practice of selling goods in large quantities.