Sales Techniques Review

This set of flashcards encompasses key vocabulary and definitions related to sales techniques, market analysis, and business strategies based on the lecture notes.

Market Analysis

The process of gathering intelligence to understand and assess the market environment, predict evolutions, and evaluate risks.

Commercial Intelligence

The collection and analysis of data regarding market trends, customer behavior, and competitor strategies to inform business decisions.

PESTEL tool

A framework for analyzing the macroeconomic environment that includes Political, Economic, Sociocultural, Technological, Environmental, and Legal factors.

SWOT Analysis

A strategic planning tool that identifies the internal Strengths and Weaknesses of a business, as well as the external Opportunities and Threats it faces.

Trade Area

The geographical area of a distribution point where a business attracts customers, often analyzed in terms of primary, secondary, and tertiary regions.

Isochrone Trade Area

A method of defining catchment areas based on travel time to a business location.

Isometric Trade Area

A method of defining catchment areas based on distance from a business location.

Competitive Intelligence

The practice of gathering and analyzing information about competitors' strategies, products, and market positions.

Customer Demand

The expectations and needs of consumers which drive their purchasing decisions and behaviors.

Virtual Trade Area

The unlimited geographical area accessible online for e-commerce, influenced by various logistical and market factors.