What is up-selling in SAP CRM-MKT - Marketing?

SAP Term: up-selling

• Component: CRM-MKT

• Component Name: Marketing

• Description: Process by which an alternative, more expensive product or one with a higher profit margin is proposed for purchase in place of the one selected by the customer.

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• Key Concepts: 
  Up-selling is a sales technique used to encourage customers to purchase more expensive or upgraded versions of products or services. It is a way of increasing the value of a sale by offering customers additional items that complement their original purchase. 
  
  How to use it: 
  In SAP CRM-MKT Marketing, up-selling can be used to increase customer loyalty and satisfaction. It can be used to suggest additional products or services that may be of interest to the customer, or to offer discounts on upgrades or higher-priced items. 
  
  Tips & Tricks: 
  When up-selling, it is important to focus on the customer’s needs and interests. Make sure that the additional items you are suggesting are relevant and beneficial to the customer. Additionally, it is important to be aware of any discounts or promotions that may be available for the customer. 
  
  Related Information: 
  Up-selling is closely related to cross-selling, which is the practice of suggesting related products or services that may be of interest to the customer. Cross-selling can also be used in SAP CRM-MKT Marketing to increase customer loyalty and satisfaction.