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

Copyright © Texas Education Agency, 2014. All rights reserved.

M A R K E T I N G D Y N A M I C S

Steps of the Sale?


Copyright

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Goals

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

TermsPre-ApproachProspectingService ApproachGreeting ApproachMerchandise ApproachObjectionsBoomerang methodSuperior point methodThird party method


Sources of Product Information

Direct Experience

Printed Material

Other People

Formal Training


Steps of a Sale


1. Pre-approach2. Approaching the customer3. Determining needs4. Presenting the product

5. Handling questions & objections

6. Closing the sale7. Suggestion selling8. Reassuring and follow-up

Pre-Approach


(AKA Prospecting)Employer leadsTelephone directoriesTrade and professional

directoriesNewspapersCommercial listsCustomer referralsCold canvassing

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


The Approach

Steps to putting the customer at ease: Be courteous and respectfulEstablish good eye contactBe enthusiasticShow sincere interest in customerBe friendly and genuineUse the customer’s name if knownTime the approach appropriately



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?”

Determining Needs


As soon as possibleAsk questionsListen to customerObserve customer

interaction with product(s)

Don’t assume


Presenting the Product

Determine: Which products to

show What price range to

offer How many products to

show What to say



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



Demonstrate the productBuilds customer confidence (TV's, camera’s, food

processors, computers)Proves selling points made by the manufacturer Differentiates your product from the competitor



When it is impractical to demonstrate a product use sales aides. Be creative in your presentation.

SamplesReprints of magazine and newspaper articlesAudiovisual aidsModels, photos, drawings, graphs, charts, etc.Customer testimonialsComputers



Involve the customerPhysically 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!

Objections

Objections are: ConcernsHesitationsDoubts 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.


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


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 presentationCopyright © Texas Education Agency, 2014. All rights reserved.

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




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.”



Four step process for handling objections:Listen CarefullyAcknowledge the customers objectionRestate the objectionAnswer the objection


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


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


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.


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.


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.


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.)


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.


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.

Documents

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