Monday, 20 May 2024, 6:57 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Personal SellingVan Heerden and Drotsky (2018) define personal selling as the exchange of ideas or information, verbally or non-verbally between the customer and the salesperson. Furthermore, the aim of communication in personal selling is to inform the customer and persuade them to purchase a product or service. Personal selling takes place directly with the customer through face-to-face communication, therefore, it can be seen as a two-way transaction between the salesperson and the customers. |
PersuadeTo convince someone of your argument or reasoning. |
PEST AnalysisPEST Analysis is a measurement tool which is used to assess markets for a particular product or a business at a given time frame. PEST stands for Political, Economic, Social, and Technological factors. Once these factors are analysed organisations can take better business decisions. |
PlagiarismPlagiarism – copying the ideas of others into your submission without giving the source due acknowledgment by referencing it. |
Planning the Sales CallPlanning the sales call is often referred to as the pre-approach and is a set of tasks that the salesperson has to perform before actually meeting the prospect for the first meeting. |
PortfolioPortfolio – a collection of documents depicting a process of learning. |
Portfolio InvestmentPortfolio investment refers to the buying of assets such as shares or bonds where the investor has no say in the running of the business. |
Positive SciencesPositive sciences are sciences based on objective fact, example chemistry. |
PrefixThe first part of a combined word, e.g. un- as in unhappy. |
PrepaidPrepaid – amount paid/received in advance. |