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Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, [1] it can be simply exposing the customer to other options that were perhaps not considered.
Value added selling is one of several sales techniques that relies on building on the inherent value of a product or service. [1] By its nature the value add technique is a more flexible and customized selling approach that requires input from a defined range of average customers .
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products. These groups are known as product categories (examples of grocery categories might be: tinned fish, washing detergent, toothpastes).
While the sales process refers to a systematic process of repetitive and measurable milestones, the definition of the selling is somewhat ambiguous due to the close nature of advertising, promotion, public relations, and direct marketing. Selling is the profession-wide term, much like marketing defines a profession. Recently, attempts have been ...
Field inventory management, commonly known as inventory management, is the task of understanding the stock mix of a company and the handling of the different demands placed on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable ...
With working capital at a premium, it is important for companies to keep inventory levels as low as possible and to sell inventory as quickly as possible. [5] When Wall Street analysts look at a company's performance to make earnings forecasts and buy and sell recommendations, inventory is always one of the top factors they consider. [6]
Sales are the unique transactions that occur in professional selling or during marketing initiatives. Revenue is earned when goods are delivered or services are rendered. [ 1 ] The term sales in a marketing , advertising or a general business context often refers to a free in which a buyer has agreed to purchase some products at a set time in ...
While expanding the sales market and attracting new customers is very important for the retail industry, it is also important to establish and maintain long term good relationships with previous customers, hence the name of the underlying concept, "relational marketing". Under this concept, retail enterprises value and attempt to improve ...