Sales & Marketing

WHO ARE CUSTOMERS?

• Customers patronize your product or service and are the most

important people for your business.

• You should provide them with what they want, at prices they are

willing to pay and treat them with respect, else, they will buy

somewhere else.

• Always remember: without customers there will be no sales and

your business will collapse!

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CUSTOMER SATISFACTION

• Customer satisfaction is your ability to provide your customers’

wants and needs.

• It is the feeling that a product or service has met the customers’

expectation.

• As a business owner you need to have strategies to develop

long-term relationships with your customers.

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CUSTOMER SATISFACTION • Customer satisfaction is a PROCESS which includes:

1. Segmentation;

2. Targeting of customers;

3. Understanding the needs of the customers;

4. Good customer treatment and interaction;

5. Fortifying a good customer relationship; and

6. Conducting customer feedback.

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STRATEGIES FOR MARKETING

To develop a strategy, you need to know the following:

1. Your method of sales

2. Marketing/advertising

strategy

– Pricing;

– Promotion;

– Place; and

– Product.

3. Market size and trends

4. Estimated sales

5. Competition

6. Customer behavior

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CUSTOMER NEEDS

Ensure to appeal to customer needs which can be categorized along the following:

1. Money

2. Security

3. Being Liked

4. Status & Prestige

5. Health and Fitness

6. Praise and Recognition

7. Power, Influence and Popularity

8. Leading the field

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MARKET SIZE

Estimating the Market size

1. Estimate the number of people likely to buy

2. Estimate the annual quantity to be bought by an

average buyer

3. Determine the price of each unit of the product

4. Market Size = Estimated number of buyers X

estimated quantity per average buyer X unit price

of the product.

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PERSONAL SELLING

It is a two-way real time communication between a

seller and buyer with the aim of achieving an

exchange

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ADVANTAGES OF PERSONAL SELLING

• Enables explanation or demonstration of product;

• Message can be varied to fit the needs of each prospective

customer;

• Can be directed to specific qualified prospects;

• Instant feedback; and

• Personal persuasion can be used.

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STEPS IN PERSONAL SELLING

The iterative steps of personal selling are:

1. Prospecting

2. Pre-approach

3. Approach

4. Presentation

5. Close

6. Follow-Up

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STEPS IN PERSONAL SELLING

1. PROSPECTING

• Prospects: Possible or

potential customer

• Qualified Prospect:

Customer with desire and

means to buy

• Identify them

2. PRE-APPROACH

Gathering Information

on the qualified prospects

including:

• When to call;

• Income level;

• Risk-tolerance;

• Etc...

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STEPS IN PERSONAL SELLING

3. APPROACH

• First face-to-face meeting

• Physical impressions are

highly important:

– Appearance;

– Timeliness; and

– Confidence

4. PRESENTATION

• Be persuasive to interest the

customer.

• Suggest alternatives

• Provide requisite information to

convince the customer

• Listen to your customer

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STEPS IN PERSONAL SELLING

5. CLOSE

• Trial Close “Can I put you down for

blue or green?”

• Assumptive Close “how will you

want this delivered?”

• Urgency Close “Offer valid for

today only.”

• Final Close Buyer initiated acceptance of the sale

6. FOLLOW-UP

Address concerns with

delivery and installation, so

today’s customer becomes

tomorrow’s qualified

prospect or referral source

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TECHNIQUES FOR HANDLING OBJECTIONS

• Acknowledge and Convert the Objection - use the objection as a

reason to buy

• Agree and Neutralize - show the objection’s insignificance

• Postpone - hold off answer because next information will

convince buyer

• Denial - refute objection with clear facts

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