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Definition
| Uses situational questions that lead to problem questions that reveals needs |
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| uncovers buyers existing situation; builds trust |
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| uncover what is causing the buyer pain while clarifying problem |
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| Introduce solution and get buyer to explain benefits |
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| Gather info, identify prospects problem, prepare presentation sales proposal, confirm the sale, ensure customer satisfaction |
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| Consultative problem-solving approach |
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| Uncover prospects perceived problems and needs through questioning |
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| Features of product, Advantages of how the product solves problems, Benefits |
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S: show product features
E: Explain its advantages
L: lead into benefits
L: let the prospect talk |
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| Value-added selling: shows customers that the extra overall perceived value is greater than what the competitors are showing |
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| Sales presentation format |
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Definition
Problem
Product
Benefits
Evidence
Summary
Action
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Definition
Statistics
Analogies,similies
Demonstrations
Testimonials
Incidents
Exhibits |
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| stresses the adaptation of each sales presentation and demonstration to fit each individual prospect |
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| any highly structured or patterend selling approach |
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statements, questions, or actions by the prospect that indicate resistance or unwillingness to buy
objections=10% higher success rate |
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Definition
Product objections: concern with features, advantages, and benefits
Price: most frequently raised; show value
Promotion: seller is known not to promote products aggresively; offer special rebates |
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| hidden and sometimes too personal or embarrassing for the prospect to reveal so they remain unspoken |
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Proper attitude
Uncover the objection
Clarify the objection
Acknowledge objection
Handle it |
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| Keystone in the Arch of Resistance |
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Definition
service contract terms
price
PRODUCT STYLING
delivery terms
lack of accessories |
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Definition
| Mutual discussion and arrangement of the terms of a transaction or agreement |
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| Negotiating Buyer objections |
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Definition
Put-off: things like price til end
Switch focus: to another model, express experience with product
Offset strategies: turn objection into reason for buying
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Term
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Definition
| Perceieved Benefits/Perceived price |
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Definition
| series of positive agreements on benefits, clossing will follow=manipulative |
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Definition
| prepurchase efforts by prospects to learn about a product, tend to increase their committment to buy |
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Definition
| one person does a favor, 2nd person feels obligated to return favor |
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| Social validation principle |
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Definition
| likely to buy when they learn the people and similar companies like them have purchased it= BEST |
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Term
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Definition
1.assume purchase decision has been made so prospect feels compelled to buy
2. Offer alternate products
3. offset objection with important buying benefit |
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Term
| psychologically oriented close |
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Definition
1.use questions to make it easier for prospect to say yes
2. suggest opportunity to buy is brief
3. Flatter prospect for asking intelligent question |
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Definition
1. Ask directly/indirectly
2. summarize benefits |
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| Buyer-Seller Relationship interactions |
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Definition
Low: Transactional Selling
Medium: Relationship Selling
High: Strategic Partnerships |
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Definition
| Short term needs; one time purchase agreement |
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Definition
Cost-efective high value ties= high frequence transactions
Win-win |
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Definition
| Capitalize on strengths of each othet, cooperation, share expertise |
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Definition
performance of value-added activites designed to enhance the sale and fully satisfying us of a product before,during and after
Perceived service>customer expectations |
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Definition
| Customization, contract interactivity, cultivation, care, community, choice, convience, and character |
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| Manufacturer markets; buy the most, have most jobs and there's the most money in it |
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| exist for risk minimalization; buy goods and resell to other organizations |
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| Buy and sell goods and services for governing functions |
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| price sensitive; ex: hospitals, universities, nursing homes and prisons |
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| North American Industry Classification System: identify certain industries and firms, better coverage of services like health care |
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Definition
| major fixed equipment and office equipment; not part of the finished product |
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| Raw materials, part of the finished product |
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| everything you need to continue making the goods; maintenance |
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Definition
Consists of all people who influence the purchase decision
1. Initiator: recognize problem
2. Gatekeepers: control info; secretary
3. Influencers
4. Deciders: high level managers
5. Buyers: authority to order products
6. Users: people who use product |
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Term
| Types of Resellers: Industrial distributors |
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Definition
Sell to manufacturers
a.General-line distributors
b. Specialist firms
c. Combination houses |
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Term
| Types of Resellers: Wholesalers |
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Definition
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| Types of Resellers: Retailers |
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| Electronic point-of-sale systems and in-store computers; resellers have more info about inventory turnover, product performance, cash flow than salespeople |
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| General Services Administration |
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Definition
purchases goods and services for civilian government agencies
(function like wholesaler and resellers)
Purchases or negotiated contracts or open bids |
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Term
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Definition
purchases for the military services
(20% on contracts are awarded on the basis of only 1 bid) |
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Term
Preferred relationship: Commercial Friends
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Definition
| Interact with salespeople like personal friends, share casual convos and engage in leisure activities=long term |
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| Prferred relationship:Customer Coworkers |
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Definition
| trest salespeople like fellow employee; less intimate but include some personal info= long term |
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Definition
| Formal relationship and reliant for economic gain, no interaction beyond business context |
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Term
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Definition
| info and understanding are exchaged between 2 or more people |
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Term
| 5 models of communication |
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Definition
*Listening-40%
Writing-15%
Talking-35%
Reading-10%
Nonverbal |
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Term
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Definition
Marginal: hear words but distracted
Evaluative: concentrates but no sensing
Active: recieves and processes message and encourages communication
Active Empathetic listening: Reices verbal/nonverbal message; highest level of listening |
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Term
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Definition
| 70% of communication, kinesics: body gestures |
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Term
| Assertiveness & Responsiveness |
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Definition
Amiables:high responsiveness, low assertiveness
Expressiveness: high responsiveness, high assertiveness
Analyticals: low assertiveness and responsiveness
Drivers: assertive and unresponsive |
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