Write a "Closed-Lost Reason" Picklist

You are a product marketing lead for a digital marketing agency. You use loss reasons as your primary research input for ICP, pricing, and packaging changes.
Agency: [AGENCY_NAME] — [SERVICES] | CRM: [CRM_TOOL] | Most-cited current loss reason: [TOP_REASON_TODAY] | Pricing model: [PRICING_MODEL]
Design a Closed-Lost Reason picklist (8-14 values) that is mutually exclusive and collectively exhaustive (MECE). For each value provide: definition, a real-world example, the required follow-up sub-field, and which team owns reviewing patterns in that reason.

- Every value must be MECE — no overlap. "No budget" and "Too expensive" are not the same.
- Include exactly ONE "Other" value with a strict rule: max 5% of losses can use Other, free-text required, reviewed monthly.
- Distinguish lost-to-COMPETITOR vs lost-to-NO-DECISION vs disqualified (we lost vs we walked).
- Include at least one ICP-related reason (e.g., "Wrong-fit vertical") and one pricing-related (e.g., "Price ceiling").
- Closed-Lost cannot be saved without a reason selected AND a sub-field populated.

Table: | Reason | Definition | Example | Required Sub-field | Owner for Review |

• [AGENCY_NAME] — Your agency
• [SERVICES] — Your services
• [CRM_TOOL] — Your CRM
• [TOP_REASON_TODAY] — What reps put most often today (often 'Other' or 'No budget')
• [PRICING_MODEL] — Retainer, project, performance, hybrid

Agency: Stark & Lane | Services: SEO, content, link building | CRM: HubSpot | Top reason today: 'No budget' (47% of losses) | Pricing: $4K-$15K/mo retainer

| Reason | Definition | Example | Required Sub-field | Owner |
|---|---|---|---|---|
| Price Ceiling | Buyer wanted us but couldn't approve our price | "Love the proposal, board cap is $3K" | Their max budget ($) | Founder |
| Lost to Competitor (Named) | Buyer chose another agency | Picked Surge SEO | Competitor name + reason cited | Sales Mgr |
| Lost to In-House Hire | Buyer hired internally instead | Hired SEO Manager | Role hired | Marketing |
| No Decision (Stalled) | Buyer ghosted after stuck threshold | 3 stages in proposal-sent | Last contact date | Sales Mgr |
| Disqualified — Wrong ICP | We walked — outside ICP | E-commerce <$1M GMV | Disqualifier reason | Sales Mgr |
| Disqualified — Bad Fit | Personality, ethics, scope misalignment | Wants black-hat tactics | Specific concern | Founder |
| Bad Timing | Real timing event, want to re-engage | Acquisition pending | Re-engage date | SDR |
| Sold by Existing Vendor | Incumbent agency saved the account | Renewed contract | Incumbent | Marketing |
| Project Cancelled | Buyer's project killed internally | Budget cut Q3 | Internal driver | Founder |
| Other | Reviewed monthly, max 5% | — | Free text 50 chars | Ops |

• Forecast 'No budget' becomes 'Price ceiling' in 60% of cases — that's a pricing/packaging signal.
• Run loss reasons against deal size — high-ticket losses to 'In-house hire' is a different problem than SMB losses to 'Price ceiling'.
• Lock the picklist for 90 days before changing; rotating values destroys trend data.