Sales training Definitions

  • A

    administrator code

    In government contracting, an administrator code (AC), like a buyer code (BC), is a code assigned to each Post Award Administrator. It is generally referenced on the cover sheet of the award.

  • Automated Best Value System (ABVS)

    Automated Best Value System is a calculated formula that assesses past performance based on quality, delivery and packaging performance.

  • B

    broad agency announcement (BAA)

    A broad agency announcement (BAA) is a notice from the government that requests scientific or research proposals from private firms concerning certain areas of interest to the government.

  • C

    channel conflict

    Channel conflict is a situation in which channel partners have to compete against one another or a vendor's internal sales department.

  • channel strategy

    A channel strategy is a vendor's plan for moving a product or a service through the chain of commerce to the end customer.

  • contract delivery date (CDD)

    A contract delivery date (CDD) is the date of delivery required by a contract. CDD is specified on a line item basis.

  • CONUS (continental United States)

    Refers to the continental United States. To state that delivery is CONUS is to say that delivery could be anywhere in the continental U.S.

  • corporate account manager (CAM)

    In the channel, a corporate account manager (CAM) is responsible for maintaining the relationship between the clients of a value-added reseller (VAR) and the VAR. In this role, a CAM may be responsible for an entire portfolio of client relationships in multiple locations. Corporate account managers serve as the primary contact for the client, which emphasizes the need for both excellent customer skills and a thorough knowledge of the channel.

  • IT consultant

    A consultant is an experienced individual in a given field who provides expert advice for a fee. Consultants typically work as independent contractors and are hired on a short-term basis. A consultant may also be an employee at a consulting firm.

  • D

    deal forwarding

    Deal forwarding is a process or technology that facilitates the exchange of information about bargains for merchandise... (Continued)

  • deal registration

    Deal registration is a common feature of vendors' channel partner programs in which a channel partner, such as a value-added reseller (VAR), informs the vendor about a sales lead.

  • direct market reseller (DMR)

    A direct market reseller (DMR), also known as an e-tailer, is a company that sells directly to consumers online without operating storefront operations of any kind... (Continued)

  • F

    fair and reasonable price

    A fair and reasonable price is the price point for a good or service that is fair to both parties involved in the transaction.

  • Federal Acquisition Regulation (FAR)

    Federal Acquisition Regulation (FAR) is the body of laws that govern the U.S. Federal Government's procurement process. These laws are prepared, issued and maintained under the joint auspices of the Secretary of Defense, the Administrator of General Services Administration (GAO and the Administrator of the National Aeronautics and Space Administration (NASA). Responsibility for maintenance and revision of the FAR is vested jointly in the Defense Acquisition Regulatory Council (DARC) and the Civilian Agency Acquisition Council. (CAAC).

  • feedback loop

    A feedback loop is a system where some portion or all of the output produced by the system returns as input, effecting the succeeding processes of that system in some way.

  • freemium

    Freemium is a way of promoting services by offering the basic features at no cost, charging a premium only for supplemental features. The term, which is a combination of the words 'free' and 'premium,' was coined by Jarid Lukin of Alacra in 2006 after venture capitalist Fred Wilson came up with the idea... (Continued)

  • G

    go-to-market strategy (GTM strategy)

    A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage.

  • I

    IT reseller

    An IT reseller is an intermediary entity in the distribution channel that purchases software and/or hardware from the manufacturer or some other entity, such as a wholesaler or a distributor, and sells it to consumers.

  • L

    lead generator

    A lead generator is any marketing-related activity intended to publicize the availability of a vendor's product or service...(Continued)

  • M

    market development funds (MDF)

    Market development funds (MDF) are a resource that a vendor grants to its indirect sales channel partners to help the channel with sales and marketing programs.

  • P

    prime contract

    A prime contract is any contract or contractual action that is awarded directly to a contractor by the U.S. Federal Government for the purpose of obtaining equipment, supplies, materials, or services of any kind.

  • proprietary solution

    A proprietary solution is a hardware or software product or combination of products and services that is tied to a specific vendor, to the exclusion of all other vendors... (Continued)

  • R

    Request for Proposal (RFP)

    A request for proposal (RFP) is a document that an organization, often a government agency or large enterprise, posts to elicit a response -- a formal bid -- from potential vendors for a desired IT solution.

  • S

    IT solution

    An information technology (IT) solution is a set of related software programs and/or services that are sold as a single package.

  • sales lead

    A sales lead is a potential sales contact, individual or organization that expresses an interest in your goods or services.

  • sales motion

    A sales motion is the particular sales method an organization uses to deliver a product or a service to its customers.

  • service-level agreement (SLA)

    A service-level agreement (SLA) is a contract between a service provider and its customers that documents what services the provider will furnish and defines the service standards the provider is obligated to meet.

  • Small Business Innovative Research contract (SBIR contract)

    A type of contract designed to foster technological innovation by small businesses with 500 or fewer employees. The SBIR contract program provides for a three-phased approach to research and development projects: technological feasibility and concept development; the primary research effort; and the conversion of the technology to a commercial application.

  • Small Disadvantaged Business (SDB)

    A Small Disadvantaged Business describes any small business concern that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged... (Continued)

  • solution selling

    Solution selling refers to the philosophy or practice of uncovering a customer's pain points and then providing products and services that address the underlying business problem.

  • special purpose acquisition company (SPAC)

    A special purpose acquisition company (SPAC) is a corporation formed by private individuals to facilitate investment through an initial public offering (IPO)... (Continued)

  • statement of work (SOW)

    A statement of work (SOW), in project management, is a document in which a contracting officer or chief procurement officer (CPO) specifies the objectives and deliverables for a particular project or service contract.

  • subcontract

    A subcontract is a contract between a prime contractor and a subcontractor to furnish supplies or services for the performance of a prime contract or subcontract.

  • T

    TIN (Taxpayer Identification Number)

    A Taxpayer Identification Number (TIN), in the United States, is a unique nine-digit number for identifying an individual, business or other entity in tax returns and additional documents filed with the Internal Revenue Service (IRS).

  • U

    U.S. Navy purchasing abbreviations and acronyms

    U.S. Navy purchasing abbreviations and acronyms

  • US Department of Commerce purchasing abbreviations and acronyms

    Abbreviations used by the United States Department of Commerce

  • V

    value-added reseller (VAR)

    A value-added reseller (VAR) is a company that resells software, hardware and networking products and provides value beyond order fulfillment.

  • vertical market

    A vertical market is a particular industry or group of enterprises in which similar products or services are developed and marketed using similar methods (and to whom goods and services can be sold).

  • W

    share of wallet (SOW) or wallet share

    Share of wallet (SOW) is a marketing metric used to calculate the percentage of a customer's spending for a type of product or service that goes to a particular company.

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