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Sales & Retail vocabulary · Sales Process & Pipeline

RFP

Meaning in sales & retail, with examples

/ˌɑːr ef ˈpiː/abbreviationCommon term

In sales & retail, RFP means: Request for proposal: a formal document in which an organisation describes what it wants to buy and invites several suppliers to send proposals.

In Turkish: teklif talebi, teklif çağrısı, ihale dokümanı

How it is used

Common in large companies and the public sector. Suppliers receive, respond to or win an RFP, usually before a fixed deadline. Related terms are RFQ (request for quotation), which focuses on price, and RFI (request for information).

Example sentences

  1. The hospital group sent out an RFP for new cleaning services, and the deadline is in three weeks.

  2. Responding to an RFP takes a lot of work, so we only bid when we have a real chance.

Common collocations

  • respond to an RFP
  • issue an RFP
  • RFP deadline
  • win an RFP
  • RFP process
  • proposalA document sent to a potential customer that explains the suggested solution, what is included, the price and the main terms, written to win their business.
  • quoteA written statement of how much a product or service will cost, given to a customer before they decide to buy; also called a quotation.
  • B2BBusiness-to-business: selling products or services to other companies rather than to individual consumers.
  • decision-makerThe person in a company who has the authority to approve a purchase and sign the contract, such as a director or the owner.
  • sales cycleThe whole sequence of steps from the first contact with a potential customer to the signed deal, and the time this usually takes.

More terms: Sales Process & Pipeline

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