As an Amazon Associate I earn from qualifying purchases.

What is Prospecting in Marketing? PDF Download

Learn Prospecting definition in marketing with explanation to study “What is Prospecting”. Study prospecting explanation with marketing terms to review marketing course for online MBA programs.

Prospecting Definition

  • A salesperson or company identifies qualified potential customers.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Prospecting Explanation

Prospecting is the initial phase in the business procedure, which comprises of recognizing potential clients, otherwise known as prospects. The objective of prospecting is to build up a database of likely clients and after that efficiently speak with them with expectations of changing over them from potential client to current client. Prospects are suspects you have reached and who have affirmed that they may be keen on purchasing from you sooner or later. For instance, the proprietor of a 10-year-old vehicle with 200,000 miles could be a hot prospect for your car vendor, as long as they know about it. Or on the other hand the spouse of a lady whose 40th birthday celebration is quick drawing closer could be a prospect for your adornments store, as long as he probably is aware where it is and is welcome to come shop - maybe with certain motivations advertised.

Keep Learning Marketing Explanations

What is Perceived Value?

Seen worth comes down to the value the open is eager to pay for a decent or administration. Indeed, even ...

What is Proposal Solicitation?

Proposition sales is a phase of the business purchasing process in which the purchaser welcomes qualified providers to submit recommendations. ...

What is Marketing Network?

A promoting opportunity is a deals acknowledged lead that has been qualified as needing your item or administration. A business ...

What is Organizational Buying?

Association purchasing is the basic leadership process by which formal associations set up the requirement for acquired items and benefits ...

What is Customer Lifetime Value?

Customer life time value describes the amount a customer is going to spend on the product, throughout their lifetime. Although, ...

What is Objective-and-task Method?

An organization's publicizing spending plan for the most part relies upon the organization's advertising objectives and goals. A business can ...