Qualified prospect
Encyclopedia
An qualified prospect is an organization which has expressed the need for the products or services of the seller.
There is much debate in the sales profession as to what constitutes an actual "qualified" prospect. Most sales professionals apply their own unique set of variables in order to determine whether a prospect is actually "qualified."
In general terms, sales professionals need to know a set of discrete data in order to determine whether or not the "prospect" will become qualified. These variables may include: business needs, authorization to transact business (financial or operational), money or budget
and an "economic buyer" or in other words, who would stand to benefit the most (or lose the most) if the good or service were to be acquired (or not acquired).
Another subject in the buying process is usually referred to as either an "influencer" or a "saboteur
", someone who, although not the financial or operational authority, exercises a significant level of internal control or leverage in the buying process.
There is much debate in the sales profession as to what constitutes an actual "qualified" prospect. Most sales professionals apply their own unique set of variables in order to determine whether a prospect is actually "qualified."
In general terms, sales professionals need to know a set of discrete data in order to determine whether or not the "prospect" will become qualified. These variables may include: business needs, authorization to transact business (financial or operational), money or budget
Budget
A budget is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods...
and an "economic buyer" or in other words, who would stand to benefit the most (or lose the most) if the good or service were to be acquired (or not acquired).
Another subject in the buying process is usually referred to as either an "influencer" or a "saboteur
Saboteur
A saboteur is someone who commits sabotage.It may also refer to:*Morituri , a 1965 film also known as The Saboteur*Saboteur , a card game by Frederic Moyersoen, published in 2004...
", someone who, although not the financial or operational authority, exercises a significant level of internal control or leverage in the buying process.
See also
- Sales processSales processA sales process, also known as a sales tunnel or a sales funnel, is a systematic approach to selling a product or service. A growing body of published literature approaches the sales process from the point of view of an engineering discipline .Reasons for having a well thought-out sales process...
- Buying centerBuying centerA buying center , in marketing, procurement, and organizational studies, is a group of employees, family members, or members of any type of organization responsible for finalizing major decisions, usually involving a purchase...
- Industrial marketingIndustrial marketingIndustrial marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials....