Inferring Market Potential from Quotations; a Source of New Business Without Incurring Additional Selling Costs
Information from quote management and lost order analysis can lead to practical estimates of market potential—something B2B manufacturers struggle with since many do not conduct marketing research and don’t know the number of prospects in their target markets.
Quote summaries for BuzzCo, Peachstate Construction, Conveyor Specialty, and Rooftop Industries illustrate the potential to increase sales relative to their annual sales. Figure 23 shows the dollar amount of quotes the four companies prepared compared with their annual sales. Since quotations result from existing customers and prospects that already know about a company, they ...
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