Sales refer to all activities involved in selling a product or service to a consumer or business. It is a transactional process between two parties in which the buyer receives the offering and the seller gets something of value in return, usually money. The delivery of a service for a cost is also considered a sale. The seller, or the provider of the goods or services, completes a sale in an interaction with a buyer, which may occur at the point of sale or in response to a purchase order from a customer. The key features of sales include:
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Activities: Sales include all activities involved in selling a product or service, from sourcing prospects to building relationships and providing customers with solutions.
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Ownership transfer: There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur.
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Sales teams: Companies staff entire departments with employees dedicated to selling their products and services. Salespeople reach out to contacts that might be interested in purchasing the product or service that their company offers.
Sales are critical to driving revenue and company growth. While the term "sale" refers to the actual transaction, the term "sales" also encompasses all the activities that lead to this transaction.
