1. MARKETING DYNAMICS Steps of the Sale? Copyright © Texas Education Agency, 2014. All rights reserved.

2. Copyright Copyright © Texas Education Agency, 2014. All rights reserved. Agency and will be required to enter into a license agreement that may involve the payment Copyright © Texas Education Agency. The materials found on this website are copyrighted © and trademarked ™ as the property of the Texas Education Agency and may not be reproduced without the express written permission of the Texas Education Agency, except under the following conditions: 1)Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from the Texas Education Agency; 2)Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only without obtaining written permission of the Texas Education Agency; 3)Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way; 4)No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from the Texas Education t of a licensing fee or a royalty fee.

3. Goals Copyright © Texas Education Agency, 2014. All rights reserved. Students will know how marketers use the selling process to:  Locate product information  Approach a customer to open a sale  Illustrate why the approach should have theme that is related to the presentation and the customer’s buying motive  Incorporate questioning and probing techniques  Prepare sales presentation  Demonstrate overcoming objections & closing a sale

4. Terms Pre-Approach Prospecting Service Approach Greeting Approach Merchandise Approach Objections Boomerang method Superior point method Third party method Copyright © Texas Education Agency, 2014. All rights reserved.

5. Sources of Product Information  Direct Experience  Printed Material  Other People  Formal Training Copyright © Texas Education Agency, 2014. All rights reserved.

6. Steps of a Sale Copyright © Texas Education Agency, 2014. All rights reserved. 1. Pre-approach 2. Approaching the customer 3. Determining needs 4. Presenting the product 5. Handling questions & objections 6. Closing the sale 7. Suggestion selling 8. Reassuring and follow-up

7. Pre-Approach Copyright © Texas Education Agency, 2014. All rights reserved. (AKA Prospecting)  Employer leads  Telephone directories  Trade and professional directories  Newspapers  Commercial lists  Customer referrals  Cold canvassing

8. The Approach Most CRITICAL phases of the sale Sets the mood for the other steps of the sale Prior research is important to understand customer for industrial selling Establish rapport and set pace Copyright © Texas Education Agency, 2014. All rights reserved.

9. The Approach Steps to putting the customer at ease:  Be courteous and respectful  Establish good eye contact  Be enthusiastic  Show sincere interest in customer  Be friendly and genuine  Use the customer’s name if known  Time the approach appropriately Copyright © Texas Education Agency, 2014. All rights reserved.

10. The Approach Service Approach  “How may I help you” Greeting Approach  “Hello, its nice to see you today” Merchandise Approach  “That’s very nice cell phone you are looking at, may I tell you about its features?” Copyright © Texas Education Agency, 2014. All rights reserved.

11. Determining Needs Copyright © Texas Education Agency, 2014. All rights reserved.  As soon as possible  Ask questions  Listen to customer  Observe customer interaction with product(s)  Don’t assume

12. Presenting the Product Copyright © Texas Education Agency, 2014. All rights reserved. Determine:  Which products to show  What price range to offer  How many products to show  What to say

13. Presenting the Product Copyright © Texas Education Agency, 2014. All rights reserved. Make the presentation come ALIVE! Plan before hand!  Creatively display the product for the first step to catch the customers eye  The way you physically handle the product presents an image of quality  Know your competitors and their advantages and disadvantages

14. Presenting the Product Copyright © Texas Education Agency, 2014. All rights reserved. Demonstrate the product  Builds customer confidence (TV's, camera’s, food processors, computers)  Proves selling points made by the manufacturer  Differentiates your product from the competitor

15. Presenting the Product Copyright © Texas Education Agency, 2014. All rights reserved. When it is impractical to demonstrate a product use sales aides. Be creative in your presentation.  Samples  Reprints of magazine and newspaper articles  Audiovisual aids  Models, photos, drawings, graphs, charts, etc.  Customer testimonials  Computers

16. Presenting the Product Copyright © Texas Education Agency, 2014. All rights reserved. Involve the customer  Physically involve customer if possible. (Try on pair of shoes, swing golf club, test drive car, etc)  Verbally involve customers  “Have you ever wanted a camera that could take great close-ups, but also be able to take wide-angle panoramic views also?”  Make sure that you keep the customer’s attention!

17. Objections Objections are: Concerns Hesitations Doubts Reasons for not making a purchase Objections should be viewed as POSITIVE because it gives you an opportunity to present more information to the customer. Copyright © Texas Education Agency, 2014. All rights reserved.

18. Excuses vs. Objections Excuses are insincere reasons for not buying or not seeing the salesperson  “I’m too busy to see you today.”  “We don’t need any more.”  “I’m just shopping.” It CAN be hard to distinguish between excuses and objections  In retail situations just be courteous, invite the customer to look around and feel free to ask questions Copyright © Texas Education Agency, 2014. All rights reserved.

19. Objections and Rejections Welcome and plan for objections Objections can occur at any time during the presentation If you make the customer wait to make objections, they may become preoccupied and lose interest in the presentation Copyright © Texas Education Agency, 2014. All rights reserved.

20. Types of Objections Need – Customer does not have immediate need Product – Concerns about things such as construction, ease of use, quality, color, size, or style Source – Often occur because of negative past experience with the firm or brand Copyright © Texas Education Agency, 2014. All rights reserved.

21. Objections and Rejections Price – More common with high-quality, expensive merchandise  “That’s more money then I wanted to spend.” Time – Objections based on time reveal a hesitation to by immediately. These objections are sometimes excuses. Customers usually have a reason for not making a purchase on the spot  “I think I’ll wait until July when you have your summer merchandise on sale.” Copyright © Texas Education Agency, 2014. All rights reserved.

22. Objections and Rejections Copyright © Texas Education Agency, 2014. All rights reserved. Four step process for handling objections:  Listen Carefully  Acknowledge the customers objection  Restate the objection  Answer the objection

23. Specialized Objections  Boomerang – brings the objection back to the customer  Question- try to find out more about the objection  Superior Point- allows you to admit disadvantages in certain products but then present superior points to offset them Copyright © Texas Education Agency, 2014. All rights reserved.

24. Objections and Rejection  Denial – used when the customer’s objection is based on misinformation  Demonstration – “Seeing is believing”, show the customer the product and get them involved  Third Party – using a previous customer or third party to give a testimonial about your product or service Copyright © Texas Education Agency, 2014. All rights reserved.

25. Closing the Sale Closing the sale should be the most natural part of the sale process:  Timing the close  Buying Signals – look for facial expressions, body language, and comments.  Customer holding merchandise and smiling is sending buying signals.  A garment draped over their arm and carrying it around the store. Copyright © Texas Education Agency, 2014. All rights reserved.

26. Closing the Sale Trial close  An initial effort to close the sale.  Two benefits of a trial close If the trial close does not work, can provide more information for the salesperson. Second, if the trial close does work, you have just made the sale. Copyright © Texas Education Agency, 2014. All rights reserved.

27. Closing the Sale General rules for closing the sale.  Start closing the first moment they begin talking to the customer.  Radiate enthusiasm  Be sincere and confident  Truly want to help solve their customer's problem.  Enjoy their profession  Watch for early buying signals and close asap. Copyright © Texas Education Agency, 2014. All rights reserved.

28. Closing the Sale Specialized methods for closing the sale.  Which close: - encourages a customer to make a choice between two items.  Standing-room-only close: - used when a product is in short supply.  Direct close: - Ask for the sale (“Can I assume that we’re ready to discuss details?”)  Service close: - explain services that overcome the obstacles to closing the sale. (Financing, deliver etc.) Copyright © Texas Education Agency, 2014. All rights reserved.

29. Closing the Sale Failure to close the sale  In retail invite the customer to shop at the store again.  In business-to-business ask if you can call again.  If you have an established excellent rapport you may be able to ask them what factors led to them not purchasing. Copyright © Texas Education Agency, 2014. All rights reserved.

30. Closing the Sale Suggestion Selling  Offer suggestions that compliment the purchase.  If they purchase a camera suggest additional memory sticks, or photo paper.  If they purchase a burger, suggest fries or a coke. Copyright © Texas Education Agency, 2014. All rights reserved.