The Enterprise and Economic Development Glossary a resource of the .network library

prospect:

... a candidate or qualified enitty of opportunity—a business prospect; a potential purchaser or user of a resource. Prospects are targets for products and services. Prospects are potential customers or clients, or those with whom you want to do business. Sometimes the word suspect is used to identify a prospect that seems to have potential based on a lead.

A lead is an indicator of a potential prospect. A hot lead is a resource for prospect development that comes with both contact data and explanation of a reason for its potential.

A leads list may be developed and maintained privately or purchased as a bunch of names and addresses. In the latter case, the list may be pitched as a prospect list useful for marketing projects. Whether provided spectutively or confirmed potential prospects on a list may be called sales leads. Various publications supply advertisers with lists of qualified leads. However, a qualified lead may simply be a verified varified name and address

Prospects among members of the .network core user group may be described in a number of ways. For example, there are economic development prospects. Consultants involved with economic development projects, especially site location consultants, are typically considered as a group to be suspects by economic developers as area and local development representatives

A lead is a potential prospect. It is an indicator that suggests opportunity. Leads are tips, for example, that come from networking. The types of prospects defined above come marketing leads and sales leads. They may be referred to as business leads or prospect leads. When such leads are qualified and draws the attention of resource suppliers or service providers they may become suspects before reaching the prospect category. A suspect is identified after hearing about an opportunity and having enough information to target what appears to be a potential prospect.

An economic development marketing consultant once stated that a suspect is a ... prospect-related object of wishful thinking. In that context a suspect is an economic development marketing lead. As a qualified economic development lead, someone worth keeping under observation.

An economic development prospect is an enterprise developer, site selector, or anyone else with control or influence sufficient for bringing successful conclusions to a projects of opportunity for growth and prosperity to a location. A marketing consultant once stated that there are two ways to define an economic development prospect: (the prospect has) ... a defined project, budget, and time line (or has visited) the community to "kick the tires". Everyone else falls into the category of wishful thinking. In other words, everyone else may be categorized as a suspect.something or someone of potential;

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The Enterprise and Economic Development Glossary a resource of the .network library

prospect development:

... activities surrounding a systematic search for prospects. For example, Economic developers as location marketers advertise and network in order to obtain information about potential prospects which come from the ranks of those who are members of the .network core user group. Economic developers and other .network mission contacts in position as location data suppliers and prospect services providers are continuously searching for leads. Prospect development involves providing resources and services. That's why area and local development representatives are listed in the Global Directory of Contacts. Enterprise development and site location prospects need to be able to find resource and service providers.
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