by TheBusinessProfessor | Feb 23, 2025 | Sales
What is Cross-Selling?Cross-selling refers to the act of offering customers complementary products and services, particularly to those who have been making purchases. The idea behind cross-selling is to enrich the shopping experience of customers by proposing items...
by TheBusinessProfessor | Feb 23, 2025 | Sales
What is Caveat Emptor?Caveat Emptor translates to ‘Buyer Beware.’ This means that the buyer bears all risks when s/he makes the decision to buy from a seller. While the term is common in real estate products, it also applies to other products.How does...
by TheBusinessProfessor | Feb 23, 2025 | Sales
What is BANT (Sales)?BANT refers to a sales qualification framework that is used to determine and evaluate prospects based on authority, needs, timeline, and budget.How does BANT Work? The concept of BANT was developed by IBM to identify prospect opportunity....
by TheBusinessProfessor | Feb 23, 2025 | Sales
What is a Big-Box Store?This is a type of retail store which occupies a large amount of physical space and offers a wide range of products to its customers. By focusing on large sales volumes, these stores manage to achieve economies of scale. They stores offer...
by TheBusinessProfessor | Feb 23, 2025 | Sales
What is Bundling?Bundling as a marketing strategy is the combination of products or services into a single unique product or service and selling them as new ones. Bundling works well to both similar products and differentiated products and services that attract...
by TheBusinessProfessor | Feb 23, 2025 | Sales
What is an Absolute Auction?An absolute auction is a type of auction sale when the purchase amount is neither set (reserve price) nor negotiated. Instead, the purchase amount comes through competitive, open bidding, with the highest price as the winning bid. The...
