Question

explain strategic prospeting and each stage in the strategic prospeting process

Answer 1

Strategic Prospecting

strategic prospecting is one of the emerging parts of a sales improvement. it refers to finding the requirements, whether the requirements are justifiable, its capability to attract new customers with the satisfaction of old existing customers. in one sentence it can be represented as the full proof strategical design to satisfy a customer with loyalty(customer loyalty). the various strategic planner has defined the stages of prospecting/promoting according to their suitability. in general, there are 4 /5(last two stages are sometimes presented as one) major steps that have been considered as four pilar/wall of strategic prospecting.

Ideal customer profile:

in this stage, we need to define our customer who is going to use the product. as we know that every product is special and specifically made for the unique type of customer. i.e if we are preparing a high-end processor with all advanced features in a smartphone that must be targetting the more technically enabled person to use that all advanced feature.

suspects:

suspect present, whether the suspected group and targeted profiles are efficient enough to justify the target or not. some of the cases where the profile looks more fitted for the product but in the application part and usefulness of the product part, the customer may be under/overestimated in that case the product could not make success.

prospects:

this stage defines the practical application of our expectations. here we try to interact with the customer in terms of feedback and another type of data collection to verify our expectations. prospects execute the operation of justification.

these three steps mostly cover the prospecting process but these are not directly related to profit generation.

effective prospects/qualified prospects:

this stage defines the effectiveness of the presumed prospects. it will define, whether we should proceed further with the prospecting or to adopt a new one. this stage almost implement the process with budget, time and authorization.

customer:

customer is one of the crucial parts of these stages, which is considered as internal as well as an external factor that gives the idea to develop, trial, implement, and result. all these stages customer has been taken as an indigenous factor.