What is Selling? Helping customers make satisfying buying decisions

Lesson Objectives Define selling Define selling Identify the goals of selling Identify the goals of selling Define feature-benefit selling Define feature-benefit selling Create a feature-benefit chart Create a feature-benefit chart Identify sources of product knowledge Identify sources of product knowledge Understand consumer buying decisions Understand consumer buying decisions Identify types of sales careers Identify types of sales careers

Goals of Selling Help customers decide on purchases Help customers decide on purchases Ensure customer satisfaction Ensure customer satisfaction Promote repeat business Promote repeat business

The Marketing Concept: Satisfy customer needs and wants AND Make a profit

Feature - Benefit Selling The concept that a salesperson needs to match the features of each product to a customer’s needs and wants.

Feature-Benefit Selling Feature Physical characteristic or quality that identifies a product Physical characteristic or quality that identifies a product Color Color Style Style Size Size Model # Model #Benefit Advantage or personal satisfaction a customer gains from the product Advantage or personal satisfaction a customer gains from the product

Types of Product features Tangible Style Style Color Color Quality Quality Options OptionsExtended Warranties Warranties Delivery Delivery Installation Installation Return policy Return policy Financing Financing

Product Knowledge Sources Printed materials Printed materials BrochuresBrochures Product tagsProduct tags CatalogsCatalogs Experience Experience Other employees Other employees MentorMentor TrainerTrainer Formal training Formal training

Customer Buying Decisions Salespeople must study Salespeople must study what motivates customers to buy what motivates customers to buy what decisions customers make before finally purchasing a product.what decisions customers make before finally purchasing a product.

What motivates a buyer? Rational motives Conscious, factual reason for buying Conscious, factual reason for buying Dependability Dependability Time/money savings Time/money savings Convenience Convenience Health/Safety Health/Safety Service Service Emotional motives Feeling of satisfaction desired from a product Feeling of satisfaction desired from a product Social approval Social approval Curiosity Curiosity Recognition Recognition Power Power Love/affection Love/affection Prestige Prestige

Customer Buying Decisions Extensive Decision Making Used when little or no previous experience with the item because it is infrequently purchased. Used when little or no previous experience with the item because it is infrequently purchased.

Customer Buying Decisions Limited Decision Making Used when a person buys goods and services he or she has purchased before but not on a regular basis. Used when a person buys goods and services he or she has purchased before but not on a regular basis.

Customer Buying Decisions Routine Decision Making Used when a person needs little information about a product because of a high degree of prior experience or low perceived risk. Used when a person needs little information about a product because of a high degree of prior experience or low perceived risk.

Feature/Benefit Chart for Refrigerators Features 21.5 cubic feet 21.5 cubic feet 300 KWh/year 300 KWh/year Brand name (GE) Brand name (GE) Variety of colors Variety of colors Auto ice maker Auto ice maker Vegetable crisper Vegetable crisper Benefits Lots of storage space Lots of storage space Low energy use/saves money Low energy use/saves money Quality/dependability Quality/dependability Match any décor Match any décor Convenient Convenient Prolongs food life Prolongs food life