Definition: Upselling is the practice of encouraging customers to purchase higher-end versions of the product he is buying or has just bought or to pay extra for upgrades and extra features or extra options.
Upselling and cross-selling are quite similar. They both aim to maximize the value of a purchase as well as to improve the customers buying experience by creating additional value.
However, while cross-selling focuses on promoting additional products from related product categories, upselling encourages customers to purchase higher-end versions of that same product or to pay for upgrades and extra features or extra options.
More on sales: 7 Steps of The Selling Process, Buyer Readiness Stages, Cross-Selling, Lead Generation, Missionary Selling, more...
You may also like:
Full-time MBA, Executive MBA, Executive Education, Online MBA.
MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.
We like to keep things short, and provide links to learn more about your subject.
© 2023 MBA Brief - Last updated: 2-10-2023 - Privacy | Terms