Glossary by Mustaqeem Zahid Bajwa

Customer Perceived Value

mustaqeemzahidbajwa — 2025-09-18 19:53:01 UTC

The advantage that customers can feel which they are getting from products. For example, the customer buys candy for $2, and because of the taste, he feels like it is worth $3.

Resonating Focus

mustaqeemzahidbajwa — 2025-09-18 19:54:10 UTC

The company focuses on the most important advantage that matters to the customer.

Example: The company emphasize on the one feature that meant the most to customers.

Segmentation

mustaqeemzahidbajwa — 2025-09-18 19:54:58 UTC

Dividing the market into different groups of customers.

Example: The brand of clothing markets divides the customers by age groups.

Marketing Mix (4Ps)

mustaqeemzahidbajwa — 2025-09-18 19:55:44 UTC

Product, Price, Place, and Promotion.

Example: A company sells tasty food at an affordable price, and they also have restaurants and online places, and they promote their products through advertising.

Positioning

mustaqeemzahidbajwa — 2025-09-18 19:56:48 UTC

customer opinion regarding your brand compared to others.

Example: Coca-Cola is presented as a refreshing and classic drink.

Sales Funnel

mustaqeemzahidbajwa — 2025-09-18 19:57:41 UTC

A sales funnel is a phase from lead to purchase.

Example: In the sale funnel, the first thing is to indicate the right contact.

Objection Handling

mustaqeemzahidbajwa — 2025-09-18 19:58:40 UTC

It is a process of handling and resolving the customers’ doubts.

Example: Turning the objection into an advantage for customers.

Buying Center

mustaqeemzahidbajwa — 2025-09-18 19:59:27 UTC

A group of people in a company who make the decision.

Example: Salespersons should know who will make the decision about buying the product.

Decision Making Process

mustaqeemzahidbajwa — 2025-09-18 20:00:54 UTC

Steps that are taken before purchasing something.

Example: a person that is deciding about which phone to purchase after checking the features, reviews, and price.

Product Branding

mustaqeemzahidbajwa — 2025-09-18 20:02:05 UTC

Creating a recognizable identity for a product.

Example: Pens are used to write.

Inelastic Demand

mustaqeemzahidbajwa — 2025-09-18 20:02:53 UTC

Demand that doesn’t affect that much with price.

For example, salt demand will not affect price if it goes high.

Emotional Purchasing

mustaqeemzahidbajwa — 2025-09-18 20:03:48 UTC

Decisions that are carried out by feelings, desires, rather than to see their logic. For example, buy a luxury watch because it looks fashionable and elegant.

Sales Process

mustaqeemzahidbajwa — 2025-09-18 20:05:14 UTC

It’s a step that starts from finding the customer to closing.

Example: A salesperson first finds a customer, then shows a product, then question and answer, and finally the customer purchases the product.

Supplier Evaluation

mustaqeemzahidbajwa — 2025-09-18 20:05:51 UTC

Checking and choosing the suppliers based on price, quality, reliability and value

Example: a company can check the financial health of suppliers to make sure that the delivery will be on time.