Assignment by Kumuyi Daniel

B2C

kumuyidaniel1 — 2024-09-02 12:03:24 UTC

Business to Consumers are businesses that sell products and services to consumers. Examples are goods for sale, equipment, furniture, buildings, and many services.

Business to business (B2B)

kumuyidaniel1 — 2024-09-07 08:46:02 UTC

Companies sell products and services to other companies operate in business to business

ERP

kumuyidaniel1 — 2024-09-08 08:33:50 UTC

Enterprise Resource Planning Systems is a system that organize major part of the mode of operations in companies.

Derived Demand

kumuyidaniel1 — 2024-09-08 08:34:47 UTC

The sales to a customer can be derived from how much that customer sells to its own customers. E.g., In B2B the companies consider how much sale their customer makes despite money spent on marketing, and this determines the amount of product they get.

Logistics Solutions

kumuyidaniel1 — 2024-09-11 19:25:53 UTC

Logistics solutions give insight on the movement of goods and services to consumers allowing companies to gain consumers trust.

BOM

kumuyidaniel1 — 2024-09-11 19:37:31 UTC

Bill of materials is a bill that indicate the price and budgets of materials. Example, the financial manager was asking for tools used for the budgeting process.

Customer Value (total customer value)

kumuyidaniel1 — 2024-09-12 14:46:01 UTC

Customer value is the sum total of all benefits offered that provides to customers. Example, it is helping customers to make money and beneficial to them.

Customer perceived value

kumuyidaniel1 — 2024-09-12 14:48:41 UTC

The different between total customer cost and customer value. Customer perceived value sometimes can be called the customer’s incentive to buy. Example when a company manufacture product. At the end of the production line, a worker packs product in a container. When a machine supplier proposes an automated packing machine, the situation will change.

OEM

kumuyidaniel1 — 2024-09-12 16:32:30 UTC

Original equipment manufacturer. In B2B, automative part manufacturer negotiate with OEM on distribution of large quantities parts directly to wholesalers to avoid calls from end user.

Inventory Management

kumuyidaniel1 — 2024-09-12 17:07:39 UTC

This management identify what and amount of stock to request in a certain time. Example, when companies need capital goods.

Target Marketing

kumuyidaniel1 — 2024-09-12 18:12:55 UTC

It is the process of selecting most potential market. Example, companies use the capabilities of customers to understand their target market.

Positioning

kumuyidaniel1 — 2024-09-12 18:38:40 UTC

It is when company can evaluate the "position" of offering compared to other offerings on the market. Example, company analyze some field that are suitable for consumers and plan an offer that will compete with other companies offering to know if their offers stand a chance.

Inbound sales

kumuyidaniel1 — 2024-09-12 18:45:20 UTC

This a process of engaging interested customer by providing value either by speaking or writing. Example, Twitter, Facebook, LinkedIn and website.

BIM

kumuyidaniel1 — 2024-09-12 19:28:46 UTC

Building information model is a software used for construction companies to understand the functionality of the construction projects. Example, a company selling building information models can follow local newspaper or tv news to trace stories of construction projects.

Non-competing sales representative

kumuyidaniel1 — 2024-09-12 19:56:31 UTC

Non-competing sales representative are restricted from joining or working with competitors in the same markets. Example, they help in generating potential leads.

Pre-approach

kumuyidaniel1 — 2024-09-12 20:05:05 UTC

Pre-approach is the stages that scrutinize a long list of potential prospects down to the short list which contains companies a salesperson should contact. Example, manager discuss about short list of potential customer that has been evaluated.

Solvency

kumuyidaniel1 — 2024-09-12 20:21:32 UTC

It analyzes the structure of finances or capabilities of company's finances. Example If a company has been assessed and got debt, this company has bad solvency.

ROA

kumuyidaniel1 — 2024-09-12 20:45:02 UTC

Return on Assets mean having a profitable company relating to asset and healthy equity ratio. Example, a company with a healthy asset and equity attracts larger firm or bank that invest.

Cold calling

kumuyidaniel1 — 2024-09-12 21:01:41 UTC

Cold calling is when you call or visit a potential customer/client without a pre-arranged meeting. Example, some marketer or salesperson can meet up with a client at their offices without prior notification of their coming.

Value proposition

kumuyidaniel1 — 2024-09-12 21:29:17 UTC

Value proposition allows customers to see all the benefits of offering and why they should choose the product. Example, an automative show a customer the benefits of offering of their product, giving insight on the product which the client considers good to purchase.

Closing

kumuyidaniel1 — 2024-09-12 21:43:00 UTC

This is the process in which a salesperson makes a sale and end further discussion with customers, so long the customer is showing interest and not making purchase. Example, a customer purchasing a motorbike but does not know what color to choose and you bring the attractive one to close the deal with the customer.