the sales glossary
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(click on a letter to find your sales word)
OEM
acronym...
original
equipment
manufacturer... an acronym that originally defined
a manufacturer who produced a product to be sold under other company's brands... now used in the sales world to describe when a company makes a product and sells it to other companies so that they can sell it under their label.
objection
a statement of challenge or rejection by a prospect or customer of a feature, benefit, product or service... can be helpful to the
sales process in that it can indicate about what a prospect or customer is concerned-- allowing for a stronger sales discussion... objections can include a lack of perceived value in a product or service offering, a perception of an inferiority to a competitive offering, a lack of perceived urgency in purchasing the offering, an unknown internal political issue between departments, an unknown corporate initiative with an external party, a lack of funds to purchase the offering, an unknown personal issue with the decision maker(s) and an "it's safer to do nothing" perception by the prospect or customer... see also
smoke screen objections
open-ended questions
questions that cannot be answered with a "yes" or a "no", generally begin with the words, what, how or why and usually encourage a prospect or customer to expand on a response ... as a result, open-ended questions usually help the salesperson learn much more about the prospect or customer than a close-ended question. (
sample)
outside sales
usually refers to those who sell by visiting others in-person
are we missing a sales word?
(
let us know and we'll add it)