3 Identify types of customer buying decisions. ObjectiveIdentify types of customer buying decisions.
4 Nick wants to buy a digital voice recorder: Doesn’t know anything about themGoes to a recommended storeSees a variety of different modelsDoesn’t want to spend more than $60Wants to purchase todayBuying decisions:He has already made some.He still has some to make.Nick needs the help of a skilled salesperson.
5 Customer Buying Decisions Usually require a certain amount of assistance and reassurance from a salespersonSuccessful salespeople are well-prepared to help.Customers and clients are unique:At different stages in the decision-making processMake buying decisions in no particular order
6 Types of Customer Buying Decisions Need decision: Why should I buy?Usually the first buying decision a customer makesDetermining a need or want for a good or serviceOften made before coming in contact with the salesperson
7 Types of Customer Buying Decisions Product decision: Which one should I buy?Of all the products available, which is right for the customer?Influenced by factors such as:Customers gather product information from sources such as:Brand: DodgeType: SUVModel: NitroSize: MidsizeColor: RedAdvertisingManufacturers’ promotional materialsTrade magazinesThe InternetFriendsRelativesSalespeopleQuantityBrandTypeModelStyleColorQualitySize/shapeFlavorPackagingReputation
8 Types of Customer Buying Decisions Place decision: Where should I buy?Influenced by factors such as:Customer servicePromotionLocationCustomers value convenience.E-commerce—can order almost anything from homeProduct qualityMore important for some purchases than othersOften a key factor in industrial purchasesRecommendationsEmployeesAdvertisingDirect marketingOnline marketingPositive publicityBrand preferenceLoyalty
9 Types of Customer Buying Decisions Price decision: How much will I pay?Closely related to product decision (often made at the same time)Influenced by factors such as:Product features and benefits (primary consideration)Uniqueness of productWarrantyCustomer serviceBrand preference
10 Types of Customer Buying Decisions Time decision: When should I buy?Salespeople can help by explaining:Reasons for customer delay often include:Need for additional informationFinancesDisadvantages of waiting to purchaseAdvantages of purchasing nowDiscountsFree shippingRebatesExtra productsMissing out on a saleLimited product availabilityThe availability and advantages of credit
12 Assisting Customers with Buying Decisions Step one—Determine if the customer needs help.Question the customer.Listen to responses.Rely on your experience, or learn from a mentor.
13 Assisting Customers with Buying Decisions Step two—Gain the customer’s confidence.Make only promises you can keep.Be a good listener.Display self-confidence.Demonstrate expertise on:ProductsCompanyIndustryMarket conditions and trendsDemonstrate confidentiality.Demonstrate friendliness and build rapport.
14 Assisting Customers with Buying Decisions Step three—Be honest and sincere with the customer.Step four—Show genuine interest in helping the customer.Don’t act as if you’re rushed.Answer all questions.Take notes.Assure customers you will help them make the best decision.
15 Assisting Customers with Buying Decisions Step six—Relate features and benefits to the customer.Step five—Demonstrate product knowledge.For your products as well as your competitors’If you can’t answer a question, find out from another employee.Assure the customer that the quality of the product is worth its price.Use specific rather than general terms.
16 Jake is under pressure to make sales: Yes, the price of this laptop is more than you wanted to spend, but we have financing available.Jake is under pressure to make sales:Feels he’s convincing customers to buy products they don’t need and might not be able to affordHis boss says that’s not Jake’s problem.What do you think?
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