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Marketing Objective 5.03 The Sales Process. Steps of the Sale   Approach the Customer   Determine Needs   Present the Product   Overcome Objections.

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Presentation on theme: "Marketing Objective 5.03 The Sales Process. Steps of the Sale   Approach the Customer   Determine Needs   Present the Product   Overcome Objections."— Presentation transcript:

1 Marketing Objective 5.03 The Sales Process

2 Steps of the Sale   Approach the Customer   Determine Needs   Present the Product   Overcome Objections   Close the Sale   Suggest Sell   Build Relationships

3 The approach is…  The first encounter with a potential customer  Depends on prior encounters –Old customers: comment on families. –New customers: small talk to develop a relationship.

4 Four Types of Approaches   Service Approach: Ask if the customer needs help.   Greeting Approach: Welcomes the customer to the store.   Merchandise Approach: Comments on the product the customer is interested.   Combination Approach: A combination of one or more of the approaches.

5 Determining Customer’s Needs   Determine the customer’s reasons for buying.   Should focus on customer’s needs ad early as possible.

6 Methods of Determining Needs   Observing: Look for nonverbal clues.   Listening: Helps pick up clues to customer‘s needs.   Questioning the customer: Ask questions about how the customer wants to use the product; previous experience.

7 Methods of Determining Needs   Once needs are determined, salesperson can ask more specific questions.

8 Product Presentation   First decision: What product to show? – –How will they use the product?   Show no more than 3 products at a time.   Remove the products the customer is not interested in.

9 Product Presentation – –Show medium priced product first.   Price should not be introduced early.   Prove how valuable the product will ne for the customer. – –Highlight the features and benefits.   Descriptive adjectives, action verbs.   Avoid unclear words: nice, fine.

10 Product Presentation   Plan accordingly for effective product presentation. – –Display and handle the product.   Handle the product appropriately.   Use hand gestures to show features.

11 Product Presentation – –Demonstrate the product.   Help boost customer confidence in the product.   Show proper use of the product. – –Use sales aids.   Samples, models, testimonials, audiovisuals.   Be creative in deciding which aids to use.

12 Product Presentation – –Involve the customer. Physically engage the customer in the product demonstration as soon as possible. – –Hold the customer’s attention.   Involvement helps in the buying decision.   If losing customer attention, ask open- ended questions to get back on track.

13 Buying Objections   Objection: A legitimate reason, doubt, or hesitation a customer has for not making a purchase.   Excuse: A reason a customer will not buy or speak to a salesperson. – –Excuses are used when a customer is not interested in buying.

14 Buying Objections   In retail situations: Remain polite and suggest the customer look around.   In B2B situations: Leave a business card.

15 Buying Objections   Objections may be based on: – –Need: Urgency for the product. – –Product: Design, size, color, style. – –Source: Related to past experiences. – –Price: Most common with expensive products. – –Time: Customers leery about “on the spot” purchases.

16 Handling Buying Objections   Procedures for handling objections: – –Listen carefully. – –Acknowledge the objection. – –Restate the objection. – –Answer the objection.

17 Handling Buying Objections   Methods for handling an objection. – –Substitution: Identify another product. – –Boomerang: Bring the objection back to the customer as a selling point. (Be careful not to be condescending) – –Question: Ask questions to learn more about the objection.

18 Handling Buying Objections – –Superior-point: Offset the customer’s objections with the product’s features and benefits. – –Denial: Objection is based on misinformation. – –Demonstration: “Seeing is believing.” – –Third Party: Use testimonials.

19 Closing the Sale   Time the close: – –Closing a sale: Initiating and obtaining an agreement from the customer to purchaser the product. – –Look for buying signals: Customer actions indicate he/she is ready to buy. – –Trial close: Test the readiness of the customer to buy.

20 Closing the Sale   Rules for closing the sale. – –Recognize closing opportunities. – –Help customers make decisions. – –Create ownership mentality. (Use words like “you” and “yours”) – –Do not talk too much or rush the customer.

21 Closing the Sale   Methods for closing the sale. – –Which: Suggest choice between two items. – –Standing-room only: Used when there is a limited number of products in stock or when the price is expected to increase. – –Direct: Asking for the sale. Most effective when buying signals are strong.

22 Closing the Sale – –Service: Explain the services available. Works best when handling dilemmas. – –If the close does not result in a sale: Get feedback from the customer on why no purchase.

23 Suggestive Selling   Suggestive selling is: Selling complimentary or additional goods or services to the customer that would make the original purchase more enjoyable.   The salesperson, customer, and company benefit from suggestive selling.

24 Suggestive Selling   Rules for suggestive selling. – –Suggestion sell after the customer has made a commitment to buy and before payment is made. – –Make recommendations from the customer’s point of view and explain the recommendation.

25 Suggestive Selling – –Make the suggestion specific. – –Allow the customer to see the item being suggested. – –The suggestion should be helpful.

26 Suggestive Selling   Suggestion selling methods. – –Cross selling: Offering related merchandise. (Shoe polish for shoes) – –Upselling: Larger quantities of merchandise at a lower price. – –Special sales opportunities: Inform customer of special sales.

27 Maintaining Customer Relationships   After-sales activities: – –Order processing:   In retail: Bag the customer’s purchase with speed and care.   In B2B: Complete necessary paperwork and leave a business card. – –Departure:   Reassure the customer that the right decision was made.   Restate proper care and use instructions.   Always thank the customer regardless of the outcome.

28 Maintaining Customer Relationships – –Order fulfillment:   In retail: Customer pays for the product and takes it home.   In e-commerce: – –Product is chosen by the customer. – –Customer’s payment is processed. – –Product is packaged. – –Order is shipped.   Order fulfillment may also include customer service, returns, exchanges, and refunds. – –Follow-up:   Follow through with promises made.   Checking up to see of the customer is satisfied.

29 Maintaining Customer Relationships – –Customer service: Handle customer inquiries and complaints. (Goal is customer satisfaction) – –Keeping a client file: Record useful information regarding the customer and the purchase.   In retail: Record customer’s size, style, name, and address.   In B2B: Record family status, hobbies, and birthdays.

30 Maintaining Customer Relationships – –Evaluate sales efforts: Complete a self-evaluation after the sale.   What were the strong points of the presentation?   What was done incorrectly/ineffectively?   How can the presentation be improved?   What should be done differently?   If the sale was successful, what can be done to solidify the relationship?

31 Customer Relationship Management (CRM)   CRM is managing detailed information about customers and carefully managing customer preferences (or touch points) in order to maximize customer loyalty.

32 Customer Relationship Management (CRM)   Implement technology and CRM: Firms can purchase software or subscribe to online services to track data.   Maintain contacts: Salespeople can act as consultants to customers.

33 Customer Relationship Management (CRM)   Maintain relationships: Provide customers personalized service.   Develop customer loyalty: – –Keep customer happy before, during, and after the sale. – –Aware of new products through or direct mail.   Implement reward programs: Reward customers who patronize the business.

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