| Walk-away Position |
| In sales negotiation, the point at which you and your company pre-decide that you will discontinue the negotiation, due to the level of unfavorable terms and conditions reached or set. |
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| War Room |
| Slang term used in sales organizations to describe that location, typically at Headquarters, where opportunities are tracked and pricing and strategy decisions are made. |
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| Warranty |
| A written or verbal guarantee of the working integrity of a product or service, and the manufacturer's responsibility for the repair or replacement, if the product or service does not work as specified. |
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| Way We Sell |
| Sales slang for the way we go to market using the sales force channel. The gathering of the best practices on the way we sell builds the framework for sales excellence, called the sales process. |
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| Whale |
| A slang term used in sales to reflect a huge opportunity, or a huge account. |
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| White Paper |
| A document, typically 5-10 pages in length, that describes your organization's point of view in areas that may be of interest to the customer. It might include your organization's outlook on a specific issue, results of research, or guidance on a given topic. |
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| Wholesaler |
| Sales channel typically engaged in the sale of goods in large quantities for resale. |
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| Why-Why-Why |
| Why is considered to be one of the most powerful words in selling. By learning the "why" of something, salespeople often learn the reasons guiding needs or behaviors. By asking three why's in the course of a specific conversation, it is said that one is able to find the real need a customer has. Obviously, asking the different Ôwhys' will require maintaining a neutral, curious tone, so as not to be perceived as overtly challenging a customer statement. |
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| WIIFM |
| Acronym - What's In It For Me? Salespeople are always reminded to reflect on the WIIFM for the customer, seeing things through the eyes of the customer, and how the product, service or solution enhances the customer personally or professionally. |
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| Win Rate |
| The rate at which a salesperson or sales organization "wins." Often, this is expressed as a percentage of the # of proposals submitted vs. # of deals closed. |
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| Win-Plan |
| A synonym for Action Plan. |
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| Win-Win |
| The term used to describe a situation where all parties involved in the sale meet their primary objectives and WIN! |
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| Windfall |
| In sales compensation, this refers to a time when a salesperson receives significant additional pay due to actions taken by the company or a customer that favorably impact results. For example, additional commissions might accrue as a result of territory realignment, or a major purchase is made by a customer that was not expected. |
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| Word-of-Mouth |
| A powerful method of selling products by creating interest, desire, or incentives on the part of current users to promote the use of your product and service to others. |
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| Working Document |
| A working document is a method used by savvy sales professionals to craft a preliminary solution for the customer. By calling it a "working document," the sales professional communicates that it is not in final form, but that it is still in discussion. This permits the sales professional to test the waters with internal advocates, test assumptions, and in the process, build buy-in on the part of those whose opinions are important before submitting the final proposal for decision and signature. |
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