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Prospecting Definition and Explanation 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.

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