Glossary

Lead Scoring is the process of assigning a relative value to each lead based on different criteria, with the aim of ranking leads in terms of engagement priority.

Lifetime Value (LTV) is the total value of a customer from a business perspective or in terms of revenue before they churn. 

LinkedIn is a social network for the business community.

Loss Aversion is a psychological effect whereby people feel more strongly about losing a sum of money than they do.

Platform as a Service refers to selling either a lightweight product with tons of integrations/apps or just the marketplace.

Plays is an engagement strategy, set of actions, series of tactical steps, or an agreed upon selling approach developed to be repeatable and customized to deliver the highest likelihood of closing a deal with a specific group of prospective customers during a set period.

Point of Contact is the person or unit representing an entity, typically tasked to facilitate decision-making and coordinate the flow of information to and from the entity.   

Glossary

Dark is a description for the state wherein a prospect have become unresponsive to calls, invitations, emails and other attempts at engagement.

Data is a set of quantitative and qualitative facts that can be used as reference or inputs for computations, analyses, descriptions, predictions, reasoning and planning.  

Decision Maker in the context of sales, is a person who possesses the required expertise and authority in making purchase decisions.

Dialer is a computer software, application or electronic device that automates the process of making phone calls.

Direct Mail is a communication channel where newsletters, catalogs, brochures, and other documents

E-Commerce is a field, platform, or environment where the buying and selling of goods and services are transacted online.

Employee Engagement is the state, level, or process of building employee commitment to an organization, reflected in how much they strive to improve the company’s image, well-being and profitability.  

EOM is an acronym for End of Month.

EOQ is an acronym for End of Quarter.

EOY is an acronym for End of Year.

Lead refers to a prospect or potential customer (who can be an individual or organization) that exhibits interest in your service or product; or any additional information about such entity.

Unit 10 Achieving Perfection

Reading

Listen and read the article from a business magazine. Then, read the summary of the dialogue. Fill in the blanks with the correct words and phrases from the word bank. What did you learn from the text?

According to the article, the key to a good management strategy is to use every available tool. Benchmarks should measure owners' businesses, their competitors and even other industries. The best practice followed in other industries may benefit other industries as well. For optimąl results, owners should study all available methods.

Speaking

With a partner, act out the roles below, based on the dialogue from task 6. Then switch roles.

B: Hi Pete. What were the results from the benchmarking study?

A: We got great results. In fact, were better than our competition.

B: That's great news. But how can you be sure?

A: I compared production numbers. We're a smaller company so naturally produce smaller amounts overall.

B: see. But why is that better?

A: Because we're way more efficient. We spend about a quarter of our budget on production. But the bigger competitors spend almost twice that. B: see. They produce more overall, but our methods save more money than theirs.

A: Exactly. In fact, the quality management standards on our production line could be applied elsewhere.

B: How so?

A: Inoticed it while checking the internal benchmarks. As efficient as our production line is, our marketing department needs work

B: So what are you suggesting? A: We take the production best practices and apply them to the marketing department.

Unit 9 Quality standards

Reading

Listen and read the page from an employee manual. Then, mark the following statements as true (T) or false (F). Give two reasons why someone should join the company.

(F) Penn Plastics executives determine regulatory statutes.

(F). Most Penn Plastics products are intended for adult use

(T). All Penn Plastics employees have taken a product safety course

Speaking

With a partner, act out the roles below, based on the dialogue from task 6. Then switch roles.

B: Well, it's not really a complaint. It's just that Ms

Henry is so, I don't know, distant.

A: You mean she's hard to approach?

B: Exactly. And when you do, she doesn 't really listen

to what you have to say

A: Can you give me and example?

B: Sure. Just last week I suggested to her that we

email documents instead of printing them. It would

save a lot of money. But Ms Henry didn't even

comment on it

A: Hmm. Thanks for letting me know. I dont imagine

that does much for morale, does it?

B: Oh, it's not so bad.

Unit 8 Sales

Reading

Listen and read this flyer advertising a set of seminars for salespeople. Then, read the paraphrase of the article. Fill in the blanks with the correct words from the word bank. What will people learn during the seminar? Tell class. Lucrative Solutions offers tailor-made courses to salespeople. The aim of the  Seminars is to help salespeople be more professional and bring in more business. The course covers all elements of the sales  process such as analyzing territory handling resistance and approaching  Customers

Speaking

With a partner, act out the roles below, based on the dialogue from task 6. Then switch roles.

Actually, I managed those operations. I'm pleased to say that when I was manager, product recall fell by 37 percent.

 Congratulations, that's impressive How did you accomplish that?

 I brought in some lean manufacturing measures

Well, we're very interested in that type of change tell me, where you responsible for any other duties?

Of course. I also had to purchase raw materials and avoid shortages

 And how did you decide what materials to go with?

I just made sure that we met the specifications our clients wanted

I see. And did you conference with clients?

No. i didn t work on that side of the business

Unit 7 finance

Reading

Listen and read this email from the Director of Finance to a CEO. Then, choose the correct answers. Summarise the email. Tell the class.

 1 Which of the following statements is NOT true?

A The takings are higher than last year

B Most of the profit came in the second quarter

C The company received a grant in the third quarter

D The company bought delivery vehicles in the first quarter

2 The company's assets decreased in because

A this year's profits were low.

B the company suffered net loss.

C the delivery trucks were expensive

D the computers decreased in value.

3 What is the company likely to do next year?

A buy a new computer system

Breceive $3,000 in debts

C receive a grant

D reduce spending

Speaking

With a partner, act out the roles below, based on the dialogue from task 6. Then switch roles.

A: Have you completed the financial report for this quarter?

B: Yes, here it is, income is here on the left, and expenditure is on the right. A: How do our earnings compare to last quarter?

B: Well, theyre up from the last quarter, but we actually suffered a net loss over the three months.

A: A loss? Why is that?

B: We updated the computer systems. It was pretty expensive.

A: Oh yes, of course.

B: Bu expect us to make a profit in the next quarter. We'll finally collect the revenue from the Hilton project.

A: And with any luck we'll get that small business grant too.

B: It could be a very good quarter for us.

A: Could you come up with an estimate for the upcoming quarter? Id like to show that to the board

B: No problem. But there's no guarantee that we'll have a profit.

Unit 6 Marketing

Reading

Listen and read this memo from a project manager to his marketing team. Then, mark the following statements as true(T)or false(F). Summarise the memo and tell the class.

(f) The first attempt to market the lliad' was unsuccessful

(f) Market research has been done to determine the target audience

(t) The company wants to find non-traditional advertising methods.

Speaking

With a partner, act out the roles below, based on the dialogue from task 6. Then switch roles.

 Have you had any thoughts

 Definitely. I've been thinking a lot about our prospective buyers

 So What women of a certain age?

 Not necessarily. My research shows that men are becoming more interested in certain products

 That's good news for us. Yes?

 Yeah, I think that's where our competitors go wrong. They mostly target women.

 But you think we could target men?