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 Packaging?

With the expanded significance set on self-administration showcasing, the job of bundling is ending up very critical. For instance, in ...

What is Product Specification?

A Product Specification is an archive that gives basic characterizing data about an item and can incorporate recognizable proof of ...

What is Customer-Managed Relationship?

It is a sort of relationship which reflects structure, applications, software, and internet facility to appreciate customers. This technique is ...

What is Return on Marketing Investment (or marketing ROI)?

Profit for advertising speculation is the commitment to benefit owing to promoting (net of showcasing spending), partitioned by the advertising ...

What is Complex Buying Behavior?

Complex buying behavior happens when the end user is effectively searching for the purchase of brand when market offers significant ...

What is Freight-Absorption Pricing?

This is an evaluating strategy wherein the maker bears a few or a large portion of the of the cargo ...