Business Development Playbook

GLOSSARY

O Objection: Objections refer to any questions or concerns from a prospect after a sales rep has performed a value demonstration. Common objections have to do with budget, authority, need, and timing (BANT). Handling these objections is a step in the sales process and a necessary skill of any sales rep. P Pipeline: Refers to the flow of potential clients which a company has started developing. Prospecting: The process of determining strategic targets in each market, which should align with the overall strategy. R Referral: Having a COI “refer” one to a contact, project, or individual/company. S Sales Funnel: The purchase funnel, or purchasing funnel, is a consumer-focusedmarketingmodel that illustrates the theoretical customer journey toward the purchase of a good or service.

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Business Development Playbook