The environment, circumstance, or setting where the transaction, sale, and acquisition of goods, services, or merchandise occur between buyers who require these goods, have the means to purchase them, and sellers who offer them.
The essence of this concept revolves around the interplay of supply and demand, which influences the pricing of products and services. Consequently, when demand decreases, supply increases, and conversely, when demand rises, supply diminishes.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.