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Sales prospecting is the process to reach out to a potential customer. It is the first part of a sales process. It is the first part of a sales process. After this step, the lead qualification, follow-up and sales activity start.
In marketing, lead generation (/ ˈ l iː d /) is the process of creating consumer interest or inquiry into the products or services of a business. A lead is the contact information and, in some cases, demographic information of a customer who is interested in a specific product or service.
Personal selling can be defined as "the process of person-to-person communication between a salesperson and a prospective customer, in which the former learns about the customer's needs and seeks to satisfy those needs by offering the customer the opportunity to buy something of value, such as a good or service". [1]
However, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken. Marshall's original introduction of long-run and short-run economics reflected the 'long-period method' that was a common analysis used by classical political economists.
Lead user is a term developed by American economist Eric von Hippel. [1]His definition for lead user is: Lead users face needs that will be general in a marketplace – but face them months or years before the bulk of that marketplace encounters them, and
In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy.Typically, every agent makes decisions by solving a well- or ill-defined optimization or choice problem.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.