Last 7 of lecture notes for Media Buying and Sales Negotiations
Last 7 of lecture notes for Media Buying and Sales Negotiations
Popular in Media Buying and Sales Negotiation
Popular in Communication
This 271 page Bundle was uploaded by Jade Notetaker on Saturday October 10, 2015. The Bundle belongs to at Nanyang Polytechnic taught by Mr Azhar in Fall 2013. Since its upload, it has received 79 views. For similar materials see Media Buying and Sales Negotiation in Communication at Nanyang Polytechnic.
Reviews for Last 7 of lecture notes for Media Buying and Sales Negotiations
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 10/10/15
MEDIA PLANNING STRATEGY WEEK 9 f BM0641 MEDIA BUYING amp SALES NEGOTIATIONS V S E M 2 AV 1 3 14 w AZHARmmm MEDIA PLANNING The media planning process is not easy Options include TV newspapers radio magazines outofhome OOH media like outdoor ads billboards There are other options like the Internet wireless and interactive media direct marketing promotional products MEDIA PLANNING Many companies have come to realise the importance of a sound media strategy They are focusing additional attention on the integration of creative work and media as well as the use of multiple media vehicles to W achieve an optimal impact MODERN FAMILY In one episode Phil Dunphy wants nothing more than an Apple iPad for his birthday For 30 minutes viewers watch the family trying to get the hot product standing in Apple Store lines and singing the praises of the iPad Modern Family did not receive any money for this episode Media Terminology Media Planning A series of decisions involving the delivery of messages to audiences Media Objectives Goals to be attained by the media strategy and program Media Strategy Decisions on how the media objectives can be attained The various categories of delivery systems like Media broadcast print and onllne Either radio or television network or local station broadcasts Broadcast Media Media Terminology Publications such as newspapers magazines direct mail outdoor etc The specific carrier within a medium category No of different audience members exposed at least once in a given time period The potential audience that might receive the message through the vehicle Willi The number of times the receiver is exposed to the media vehicle in a specific time period l E f a ku JI B r 2 Situation analysis Marketing strategy plan Creative strategy plan l I Setting media objectives I I Determining media strategy I I Selecting broad media classes I I Selecting media within class I l Measurement Insufficient Effectiveness Information Problems in Media Planning Inconsistent Terminologies I an Measurement problems occur frequently and only estimates are available Insufficient information about markets and media not measured or too costly Inconsistent terminology usually arises from confusion or lack of standard measurements Time pressures results in decisions being h without proper planning and analysis 3 39 Developing the Media Plan Analyze the market CV Establish media objectives s Develop media strategy Implement media strategy I 39 Index Number K Percentage of users in a demographic segment Index Percentage of population in the same segment K and Category 5 Brand Development Index Percentage of brand to total Singapore sales in market BDI Percentage of total Singapore population in market K r 5 It assists marketers in answering the questio allocate the media budget Brand and Category Development Index Percentage of total product category sales in market CDI Percentage of total Singapore population in market K Used to determine the potential for develop product category in a given area High CDI Low CDI Brand and Category Analysis High BDI Low BDI High market share Good market potential Low market share Good market potential High market share Monitor for sales dechne Low market share Poor market potential The market usually represents The product category shows high good sales potential for both potential but the brand isn t the product and the brand doing well the reason should be determined The category isn t selling well Both the product category and but the brand is may be a good the brand are doing poorly not market in which to advertise but likely to be a good place to should be monitored for sales advertise dechne Growth Development Potential Index CDI GDI BDI Brand and Category Analysis High BDI Low BDI The market usually represents The product category shows high 0 good sales potential for both potential but the brand isn t U the product and the brand domg well the reason should be 50 determined I Moderate Growth Potential High Growth Potential The category isn t selling well Both the product category and a but the brand is may be a good the brand are doing poorly not Q market in which to advertise but likely to be a good place to 3 should be monitored for sales advertise 3 decline Low Growth Potential No Growth Potential Brand and Category Analysis Score Above 100 GOOD aboveaverage performance BDI only measures existing sales CDI only measures potential sales GDIGPI measures growth opportunities of a brand in a market Target Market Coverage I Population excluding target market I Target market Media coverage I Media overexposure Target Full Partial Cove rage Market Market Market EXCEEdi 3 Proportion Cove rage Coverage Mark 1 2 Three Scheduling Methods Continuity continuous pattern of advertising every day every week or every month Flighting intermittent periods of advertising and no advertising Pulsing combination of the first two continuity is maintained but at certain periods advertising is increased Three Scheduling Methods l Flighting I Jan Feb Mar Apr May Jun Jul Aug Sep Reach and Frequency A Reach of One Program B Reach of Two Programs Total market audience reached Total market audience remache C Duplicated Reach of Both D Unduplicated Reach Total reached with both shows Tl Pereemt reeeh TID m Ne emesure Graph of Effective Reach Tntell Emuwire vereue Effective Expneure ef a PrimeTime TEIEUiSii 39lnl Sel39nedulle Tetell eepmure 40 GRF S Effective ewesure 2211 EIRPS E IIneffectiue eepesure Ihre39sheld elf effectiveness 39GRPE Grees ret mg mime EeeeSsiee emewre Negative expmeme 7 2 E 7 B Q TIUT39IN 39IIZ HS39MW Nlumber ef eepeeunres Marketing Factors Determining Frequency Brand Loyalty Brand Share Purchase Brand History Share of Voice Cycles Marketing Factors Determining Frequency 1 Brand loyalty inverse relationship the higher the loyalty the less frequency required 2 Brand share inverse relationship the higher the share the less frequency required 3 Usage cycle products needing to be replaced frequently require higher frequency to maintain topofmind awareness 4 Brand history new brands require higher freq u e n cy T H w Marketing Factors Determining Frequency 5 Share of voice when strong competition exists higher frequency is required 6 Purchase cycles shorter purchasing cycles require higher frequency to maintain topofmind awareness 7 Target group the ability to learn and retain messages has an impact on frequency Message Factors Determining Frequency Message Message Complexity I or Creatlve Factors Message Uniqueness I New Vs Continuing Campaigns Image Versus Product Sell Message Variation Wea rout Message Factors Determining Frequency Message complexity the simpler the message the less frequency required Message uniqueness the more unique the message the less frequency required New vs continuing campaign new campaigns require a higher frequency Image vs product sell creating an image requires a higher frequency Message variation a single message requires les w frequency I L quot Wea rout higher frequency leads to faster lvv 39 x1 Advertlsmg unlts larger unIts reqUIre lessi Media Factors Determining Frequency Attentiveness Media Factors Repeat Exposures Editorial Environment N u m b e r of i I M edia U sed l Media Factors Determining Frequency Clutter more clutter requires higher frequency Repeat exposures media that allow for more repeat exposures reqUIre less frequency Editorial environment the more consistent the ad is with the editorial environment the less frequency required Number of media used fewer media the lower the frequency required Attentiveness the higher the level of attentio I achieved by the media the less frequency I required Scheduling continuous scheduling reqy I n 7 E 1 frequency Flexibility in Media Planning Strategies h arket h arketthreats opportunities Fkndh ty 11 aka in l 1quot V r In Ava i I a bi I ity of v m e d i a Flexibility in Media Planning Strategies 1 Market opportunities Sometimes a market opportunity arises that the advertiser wishes to take advantage of 2 Market threats Internal or external factors may pose a threat to the firm and a change in media strategy is dictated w 3 Availability of media Sometimes a desiredme39 or vehicle is not ava ila ble to the ma rkeilter 391 I 4 Changes in media or in media vehicles 39j quot H a v I 39 the medIum or In a particular vehicle 39 change in the media strategy Determining Relative Cost of MediaPrint Cost per thousand CPM Cost of ad space CPM absolute cost Circulation Calculating CPM Based on the Target Audience Figure 1022 Cast per Scenario A Gtrerestlma an of E felenty Tharuaarrdl Estrr39rratea target market 1849 Magaalne tlreulatiert eli ll Circalatin ta target market 65 EEEDIDIDDD eat er page E34 V 234 1l quot amaaaa 23el a mat CPMactualtargetauareneejz a 29Em Z DtZtEJtttJ Seenarla B Underastlma an at E lc enty target market at age great male and female r J Magaame tlreulatiert el eet er page 234r tt 1 1 Paaaalar rgr rate 3 33 at huaehlda 1 Page teat LOUD E Bil LEIGH Cireulatierr am 320000 a algaeaaatr 23M CPM tbaaetll err readera er Emir Aaatmtrrg paaa altmg war trait Determining Relative Cost of Media Broadcast Cost per rating point CPRP Cost of commercial time CPRP Program rating Determining Relative Cost of Media Broadcast Cost per thousand CPM Gross R h 000 x F Impressions eac 5 requencv x 1000 5 Cost of commercial time CPM Gross Impressions Determining Relative Cost of Media Online CPM Cost per thousand CPM Cost of Online Campaign X 1000 Impressions no of times an ad is loaded may exclude reloadsrefreshes Television Pros and Cons Advantages Disadvantages Vass coverage Low selectivity I Short message life I High absolute cost High reach Impact of sight sound and motion High prestige High production cost Low cost per exposure Attention getting Favorable image Radio Pros and Cons Advantages Disadvantages Local coverage I Audio only I Low cost I l Clutter I I High frequency I Low attention getting l l Flexible I I Low production cost I I Wellsegmented audience I Magazine Pros and Cons Advantages Disadvantages l Segmentation potential I l Ia39angil gizgngnmte for I Quality reproduction I Visual only I I High information content I l Longevity I I Multiple readers I Newspaper Pros and Cons Advantages Disadvantages I High coverage I Short life I Low cost I l Clutter I I Short lead time for I Iacin ads Low attention getting Ads can be placed in interest sections lTimer current ads I I Reader controls exposure I I Can be used for coupons I Poor reproduction quality Outdoor Pros and Cons Advantages Disadvantages Location specific I I Short exposure time I I High repetition I Short ads I lEasi39vnoticed I Direct Mail Pros and Cons Advantages Disadvantages I High selectivity I I High cost per contact I Reader controls exposure I l Poor image junk mail I I High information content I Repeat exposure 0 ortunities Internet Pros and Cons Advantages Disadvantages User seleFtS prOdUCt Limited creative capabilities Information User attent39on and Websnarl crowded access Involvement I Interactive relationship I Technology limitations Direct sellin otential Few valid measurement g p techni ues l Flexible message platform I In quot l cmmf mummi J Ail Questions EVALUATION OF BROADCST MEDIA BM0641 MEDIA BUYING amp SALES NEGOTIATIONS 1 Television Advantages Creativity and Impact Coverage and Cost Effectiveness Captivity and Attention Television Advantages Creativit and impact the interaction of sight and sound 0 fers tremendous creative flexibility and opportunities for the advertising message Coverage and cost effectiveness TV can reach large audiences cost effectively Captivity and attention commercials impose themselves on viewers as they watch their favorit programs and are likely to be seen unless some effort is made to avoid them Selectivity and flexibilit audiences vary by L program content broa cast tIme anodr coverage cable teleVISIon offers additional selectivity T Television Disadvantages Fleeting k essages Limited Viewer Attention Zipping I Negative Factors Negative Evaluation Costs Lack of Selectivity Clutter Distrust Television Disadvantages 1 Fleeting messages most TV commercials are 30 seconds or less and leave consumers with nothing tangible to examine 2 Costs expense of buying airtime and costs of producing TV commercials is high 3 Lack of selectivity offers some selectivity but not very selective for smaller target markets Television Disadvantages 4 Clutter a problem because of shorter and an increased number of commercials 5 Distrust and negative evaluation the content pervasiveness and intrusiveness of TV commercials creates problems 6 Limited Viewer Attention viewers avoid commercials by zipping and zapping or simply not paying attention to them Top 10 Network TV Advertisers Company 5 Amount 1 Procter amp Gamble 8336 2 General Motors 7535 3 Johnson amp Johnson 5216 4 Ford Motor Co 4976 5 Time Warner 4519 6 Pfizer 4178 7 Walt Disney Co 4176 8 SBC Communications 3962 I 9 PepsiCo 3795 10 DaimlerChrysler 3594 I millions d aquot v 13 DVRs are Impacting Television View an upcoming WishLisi Programs CDMCERT A S MMSiE FORD HARRISON STAR amp Movies TECHNO IEdRcaiiRnai TWO A tag V TRUCKS TV Advertising Works Best When The budget is large enough to produce High quality commercials The media budget is sufficient to generate and sustain the number of exposures needed The market is large enough and easily reachable through a specific network station or program Network Versus Spot Network Affiliated stations are linked Purchase transactions are simplified Commercials shown on local stations Syndicated Programs Offnetwork syndication are reruns Firstrun syndications are also featured Advertiser w rt d or Programs sold to stations In suppo e return for airtime bartered Methods of Buying Time Sponsorship 1 Advertiser assumes responsibility for the production and perhaps content 2Sponsorhas control and can capitalize on the prestige associated with a show Pa rticipations 1 Participating sponsors share the cost 2 May participate regularly or sporadically 3 Advertiser isn t responsible for production 4 Participants lack control over content 1 May be purchased by daypart or adjacency TV Advertising Buying Decisions Reach is the primary consideration but ease of purchase is important Network Versus Spot Considerations are the geographic markets and ability to acquire airtime National Versus Local Spot Sponson Participate or Spot Method of buying affects cost commitment and identification Specific Daypart and Weeks Common Television Dayparts Other TV Delivery Vehicles Delivers signals through fiber or coaxial wire Cable CATV rather than the airways Cable networks also transmit via satellite Superstations Satellite TV Independent local stations that broadcast nationally via satellite through CATV DVRSVOD Cable Television CATV Characteristics 1 National regional and local available 2 Targets specific geographic areas Advantages 1 Highly selective quotnarrowcastingquot 2 Reaches specialized markets 3 Low cost and flexibility 1 Overslhadowed by major networks 2 Audience is fragmented 3 Lacks penetration in majo r m a rkets Measuring TV Audiences Television Households Audience Pro ram Ratin Measures g g Measuring TV Audiences One of the most important considerations is the size amp composition of the audience Audience measurement terms TV households number of households that own a TV Program rating percentage of TV households in an area tuning to a specific program during a specific time penod Households using TV percentage of homes in a given area where TV is being watched during a specific time L perkxj l Asww Share of Audience percentage of households 5 in a specified time period that are tuned to at quot r quotIt 15739 39 r J g I iiq g wg mg AudIence Measures snze and composntl aquot I a u die n ces 39 HH tuned to show Rating Total Singapore Household Household tuned to show Singapore Household using TV Share Sweeps Periods Are Used To Measure TV Audiences SWEEP NEW3 Ma K nearest r v memilati hm H 1 it i J wi hmt a tree 1 IHIH Rating KF M 1m KNEE 34 KGW 66 KEN 591 291 K USI 21 Emiran Ful l H e S i lrs ll Fl lgl Halli15 1Fpai3 men mh EH 53915 Radio and TV Similarities Are time oriented media I Are sold in time segments I Have some network affiliates I Have some independents Both Media Use the public airway Are regulated by the FCC Are externally paced media l1 is Radio Differs from TV s more limited communication Costs much less to produce Offers only an audio message Costs much less to purchase Radio Formats by Age Group Classical quot Smooth jazz I Religion j Newstalkinfo Oldies El 1824 I 2534 Country 7 7 7 Contemporary hits Advantages amp Limitations of Radio Advantages Disadvantages Cost and Efficiency I Creative Limitations I lSeIectivity I lAudience Fragmentation I l Flexibility I Chaotic Buying Mental Imagery I Limited Research Data Integrated Marketing I 1quotquot quotIquot Limited Listener Attention Radio Ads Can Enhance TV Campaigns Imagery Transfer H s su i mmeniinis ll Emma Hm 39mr s 1hr n 5511111 Hardin T39EH39hHciilhum 39 brimHamill quot l39 a L Imam TI39IEII39EIE39II39 lei gran Eiiireng39hian rum Edi imp ign sim39i39li tnnlljl bar wing Euiii39u iii Lugeml II39iE iuigea by ux Faliauiii uxri mrrlarziulhifliisc l lil ill IFIn l i i II EIEIpa minimal Ilia mmmmmmm Hammad E5 WWW E xmmarell l39 El Iranian nil Elia sin51 Hip Iltnrpn rahlgn lhe maul a39E Imam il39rnna FEInlnT i39rtfi gy i n rellfusma 111Ed lll j izi i iEl lld a Hele nimn H55 Milll39lgl Iiiaim 1m hillid The new and Friqutm39r I m i E l l ly lam grim Ihgsil m amim h Furgi rgr Lillia rhmimn Erin magma mmmammww mmm pm hat1m haciii i I Himrim Iiiiii inn H hl ll i g IanHui i E39i39h 7 Lw imvl ni i maxim HamperHi i lm wail Beam Eh lrL a a iiim 39E39Illi 39 rTi39Hl39b ih39aIHIFLEJ iiijgluixlxl quotiii Mi imamI u mi bu IIIJ iiilamb MilliI Elm Hamish Jh j IiiH ililzl au Ildr rlil g Eunm Su H 39MJaur in 2uaiFw Buying Radio Time Three national networks Over 100 regionalarea networks A multitude of syndicated programs About 20 of all spots Allows great flexibility targeting Purchase transaction can be difficult 7 Lquot I I I f j gt Nearly 80 of advertisers are local r n r 39 157 I l II Dayparts for Radio I Morning Drive Time I I Nighttime I Daytime Audience Information Person estimates New Digital Technologies lmpact39 g Radio 39 mu mqmrsmwm Albearn m auxin1n IBLEnu39 mm was g in 37mm iiuCkEL inquot iinuanter 5 15W Eckl abun Pitta Wa n inna mu Engme Elmer lrl39Ir39r39I 1m Iiiri ed 7 nl mgmmmlng P L i 7 iquot HI39FWRM in am mull ii n i new samesm 1mm mum mast f if m 397 m Hump rdquot 39i Fmrn its Ei tE fnihEa Etudil and uplini facility in 39i39ifashirrgtnn Di EM IEaEEII39rtE l iadic will team Iiiii EhiEIFIEI if digital quality quotI3 mews anlf ran meni liiFEEthl Tn 5 sun LH Lui iii Lu M II allml Sanrte Courtesy I2 EM SaiEiii39i Flames In quot l cmmf mummi J Ail Questions NEGOTIATING BUYE CONCERNS BM0641 MEDIA BUYING amp SALES NEGOTIATIONS S E M 2 AV 1 3 14 39 I 5 v l AZHARm m m m m Learning Objectives Describe negotiations as part of a winwin strategy Describe common types of buyer concerns Outline general strategies for negotiating buyer concerns Discuss specific methods of negotiating buyer concerns WT Describe ways to deal effectively with buyers wh are trained in negotiating 39 39 Negotiation Defined 39 Negotiation is a process where you work to reach an agreement that is mutually satisfactory to both buyer andseHen Ability to negotiate problems or objections is a most effective way to create value Negotiation A WinWin Strategy Personal selling is not a quotwe versus they process 39 If trust is strong negotiation becomes a partnership to work through if not negotiation becomes combative 39 Seek to maintain longterm relationship Strategic Planning Leads to Actions i r yi 39 ctiiwit ia l l l l fur w n a n Inf hwr mums du nm mmtiatimns i335f 39 in llT nn i m Hf huyar An nina buyer Hummus Hmiaw nmmn tipas Inf msi tancaa Flami aw ri39iIhds 1 nag a ng hu wr ra aisianna Prpar a mgn a nn wnrksht i dimming Lnegutiaa nns Common Types of Buyer Concerns I Customers may have concerns related to I A need for the product I Product itself I Source of the product I Pricing I Timing Need for Product Conditioned response quotI don t need the product Sincere need resistance a great challenge Not convinced of your product s benefits Best way to overcome prove your product is a good investment e The Product Itself Product not well established Product will not be popular Associates did not like the product Present productsystem is satisfactory Source of Product I Ways to overcome include I Identify how product solves problems I Superior benefits of your product I Illustrate profits from adding second line I Place trial order to evaluate merits I Recruit champions inside buyer s firm I Stay visible and connected to client Price Concerns Trained Buyers I Buyers trained in negotiation I Budget limitation tactic I Take it or leave it I Split the difference Price Concerns Low Price Strategy 39 Transactional buyers seek low prices I Empowered salespeople able to apply various discounts I Downside lower profits and lower commissions Dealing with Price Concerns Do clarify price concerns with questions Do add value stress service Do not make price focal point Do not apologize for the price Do point out pricequality relationship a Do demonstrate difference between price and cost Do not make concessions too quickly Price Iceberg Price is only the tip of the iceberg remind customer of value added factors below tip Price Versus Cost Example 39 Note how Canada s Bombardier positions its CRJ against Airbus Paaaaagara seats Bast af aircraft SHUHT THIP 55 miles East par aaai par mila Tatal aaat f trip LUNG THIP Li miilaa par aaat par mila Trial aat if trip Concerns Related to Time Also known as quotthe stall 39 Usually customer does not perceive benefits of buying now or sees both positive and negative in product Customer Objections 39 Customer objections are often requests for more information to justify buying decision Dbjsstjsns srs sftsn rsuussts fsr mrs infsrmstisn ts justifyr ths buying dssisin bjsstisns n tsll us s It hssitstiin and what tsps sf intrmstin ths sustmsr is sltin UBJEGTIDH SDUHGE HF HEBITATIDH Priss ts high Psrssissd ssst srsus snstit Thinks shout it sfrsid t malts s hsd dsisisn Tsllt ts tusss Unsbls t justify ssisisn Nsd msrs uu Unsurs ysu rs thsir bsst ptin 5st with surrsnt prssitlsr ssn t ss nsfit f shsng Esd histry Past sspsrinss is stfsstin surrsnt sisw REQUEST FDR 1It39slus srtisulstisn Erssts srntrt prsids prof Hist rsustisn nsfit rss39isttr Tsrgtsd elutins sslus iffsntjst39sn ffsr prt st shsns Negotiating Buyer Concerns Know value of your offering Prepare for negotiations Understand the problem Create alternative solutions Find points of agreement Know when to walk away Use a Negotiations Worksheet Negotiations Worksheet Suatemer e eeneem Type ef eeneem Peeeihle reapenee Fifteen eaeea df eliaee will take up valuable apaee in my renewing mam It is alreadyr erdwded Need Eemhinatien Direet deniaIlSuperier henefit t eu will net have in faee that emblem With the aid at eur39 merehandieing plan yen can dienlay 1t eaeee immediately en the ealee ilder Dnly fwe eaeee will beeeme reeeme etmel li39l39lll ehmnlrl minim ell lFl meme in aheut twe weeks Specific Negotiation Methods 1 Direct denial I Refute prospect s opinion or belief I Be firm not offensive think winwin 2 Indirect denial I Acknowledge prospects as partly right I FeelFeltFound I quotI understand how you feel I quotOthers have felt that way w I quotUntil they used the product and OulQ f quot L a 39 quite easy and reliable Specific Negotiation Methods 3 Questions 39 Convert problem into needsatisfaction question 39 quotHow would a 30 percent reduction in breakdowns affect your company s profitability 4 Superior benefit 39 Acknowledge prospect has valid concernand focus on superior benefit I 39 Superior benefits should outweigh 39 L M customer concerns 39l Specific Negotiation Methods 5 Demonstration Discuss competitive advantages of your product Demonstrations overcome buyer skepticism effectively 6 Trial offer 39 Prospect tries product without purchase commitment Specific Negotiation Methods 7 Thirdparty testimony 39 Neutral thirdparty testimony adds credibility Almost never triggers client argument 8 Postpone method Postpone answers to client concerns until later in dialogue I Explain why you want to postpone In quot l cmmf mummi J Ail Questions CLOSING THE SAILE WEEK 16 BM0641 MEDIA BUYING amp SALES NEGOTIATIONS SEM 2 AY12 13 AZHmmm 39 Learning Objectives Describe the proper attitude to display toward closing the sale List and discuss selected guidelines for closing the sale Explain how to recognize closing clues Discuss selected methods of closing the sale Attitude Toward Closing quotSome closing methods can move the customer from indecision to commitment When these methods are used effectively the prospect will not feel pressured quotClosing should be thought of as the beginning of a longterm partnership Strategic Planning Leads to Actions Simian N 7 iins pia mmin ifr A iuirin the Elii nig ne 5 la 1 iii Strategic Planning StatEm manning Em lming the EaIiE Heuiiew p EihliE barriers tn shamg the sale Euiiew Emusin gmidreimas EE39H39EIFEIE LEEDSling 5 Fan in a hf r the mien mare 39i 39laa n Mme EPIE39E EWEE cha ng a Fens ml paint m EFEEEEETI L H nrdfle huh iii iis gamma humid sump sasa at EliHE uring IZI39IE l i 39 39 i Ha ngnize musing times iins39 izemii m Elihu an A lt ll V W in HieEu waspmi in amed a iasralifaynnina depn aa a Annamariadam buyers Enmmwnin atiin n ENE hsl finIr mm mm than airmen P 39gtPU l Strategic Planning for Close Review barriers to closing sale Review closing guidelines Prepare several closing methods Plan to ask for order more than once Practice the closing 9 gtIsnsnagts1ve Actions During Close Recognize closing clues Focus on customer s greatest interest Handle tough points early Avoid surprises Keep prospect involved Dis play co nf i d e n ce 39quot 39 Accommodate buyer s communication sty le39quot V L 39 gt 1 Ask for order more than once Buyer Anxieties I Review the value proposition from the prospect s View I Reluctance can be dueto I Loss of options I Fear of making a mistake I Social or peer pressures NP P 9WF Guidelines for Closing Sales Focus on dominant buying motives Longer selling cycles require multiple commitments Negotiate tough points before close Avoid surprises at close Display confidence at close Ask for order more than once Recognize closing clues Discussion Questions We have discussed reasons why buyers are reluctant to close a sale I What are several factors that might make salespeople hesitant to close sales I How can salespeople overcome these obstacles to closing Verbal clues Questions 39 Recognitions 39 Requirements Closing Clues Nonverbal clues Facial expression changes Prospect nods agreement Leans toward you Exa m i n es p r od u I w ite ra t u re i nt r g 509 P P P39PUNI Trial close Summaryofbenefits Assumptive Special concession Multiple options Balance sheet Management Direct appeal Combination Closing Worksheet Eloain Workahaat Elaaing alua ioraaaaa Eloaina mathao 39Eiiloaiin aitaianiani Izaailaaioaiaan Tn at aaunola finalquot Warlaal raoognitian Wh at Iainol a i 39iinanaing oa you o ar W il l auaaiian Walla wa oanit Ihaya largo ar39naun39ia ail oaan ayailaola a1 t nia timai Waraa39l iaaufiian iant 39lina iaaaaoit loomiolailaa a oanailull rain oi illna raoa all an oan nn iunii oa laa nonyanloail oliua a loali ail aaiiiaiaoiiann liloinyanoall n iaaaaa iraat alalaaal olaaa Multiola ootiana oloaa aauniaiiya alaaa Efoimaina39iion au n in iary oiilo anaiiia Edir aot an aal oloaa E oaog may Ii gal your ainaituia on tnia ardariorm WE naya Two iinanoiny maino ola ayailalola oay ooan oiaofii or nyo yaar long Tarn iinanofiinauwniah of 111an ola you oraiar39ii 39i aaao on your aaan aoaiiiony Iw aula raoammand you oanaiolar our Iaaaa ourohaaa alanuTnia olan allowa you to pay a yary amall initial amount at tnia lime and kaao iha oaan you noinr naya for your ayaryol ay Iouainaaa aaoanaaa Iwill ha haooy io writa up your aiaar on Too Iaaaa ouronaaa planf mThat aolution auiaaaaaa your quality raouiraman iag maaia youi iirna aaaolinaau anal prayioaa your aooaun iing aaaa n iant with Tina oataila ii raauaataolu Gan you gal your aniaf iinanaial a iiioaria aignatura on quottho onjar39i m Trial Close Made at opportune time quotCan we ship in May quotWould you like to start on the first of the month quotWill a 500 down payment be possible F l 39l ul39 Ha p lwe Trial Close I O 39 39 5 pportunltles E E II II IIIIII I I 1 E l 39 E l I I l E f E I39 Trlal le nunquot3p I I E I Summaryof Benefits Close 39 Reemphasize valueadded buyer benefits quotThat s 25 for each lunch four conference rooms and audiovisual support plus our special meeting package Can I make this reservation for you Assumptive Close 39 Subtle way to ask for decision assuming customer will buy 39 Comes near the end of the presentation 39 quotBecause this shipment can meet your timetable let s go ahead and place your order Special Concession Close I Extra incentive for acting now I Sample inducements I Sale price I Quantity discount I Liberal credit plan I Use with care Multiple Options Close I Present several options to customer I Steps I Configure more than one product solution I Stop when ample selection presented I Remove lessappealing options or products Balance Sheet Close 39 Outlines reasons to buy and not to buy Engage customer in this process A Reasons Reasons to buy not to buy Management Close 39 Involve senior executives or sales manager I Upperlevel managers add value I Makes prospect feel important Direct Appeal Close Ask for the order in a straightforward manner Should not come too early Gain prospect s respect first After asking remain quiet Combination Closes 39 Sales person simply combines two or more close methods for effectiveness Practice the Close Make these closing methods work better via practice Try sample script on sales manager Use a video camera tape yourself Use closing worksheet to prepare prepare Create Your Own Closing Worksheet Include the following Several customer closing clues verbal and nonverbaD An appropriate closing method for each A subsequent closing statement for you to use Many Offer Tips on Closing American Expresscom AllBusinesscom ChangingMindsorg What does the advice provided on these sites have in common e Confirmation Step Reassure customer Confirm sale and partnership Reduce buyer s remorse forms of regret fear anxiety about sale I Compliment buyer on wise decision I Thank customer for order When Buyer Says No I Learn to manage disappointment I When a sale is lost I Make sure the deal is really dead otherwise reopen the presentation I Review chain of events identify weaknesses I Obtain customer feedback to improve Discussion Questions Losing a sale can be miserable and salespeople must learn to manage their disappointment when a sale is lost I What are several ways disappointment must be managed when a salesperson is still facetoface with a customer I How do you think salespeople learn to cope with sales i if gt I 7 El Iquot V 139 quot Facing Competition 39 Some buyers want to look at competing productsservices Do all possible to help customer make an intelligent comparison 39 Stress areas where your product is superior In quot l cmmf mummi J Ail Questions QULIFYING A PROSPECT BASE BM0641 MEDIA BUYING amp SALES NEGOTIATIONS A i I SEM 2 AY1314 39e 39 4 AZHARmmm Learning Objectives Discuss the importance of developing a prospect base Identify and assess important sources of prospects Describe criteria for qualifying prospects Explain common methods of organizing prospect information Name some characteristics that are important to learn about customers as individuals and busines representatives f i w Describe the steps in deveIOping a prosp W 39l E sales forecasting plan i Prospect Prospecting and Prospect Base Prospect a potential customer that meets the qualification criteria established by your company Prospecting identifying potential customers Prospect base is made up of current customers and potential customers Importance of Prospecting Every salesperson must cope with 39 Customers move firms go out of business sales lost to competition I Average company may lose 15 to 20 of customer base every year 1 H Why does customer attrition drop people move die U 1 It bad service I M A ike the product so m uch39 A it39s good so don39t nee I don39t like the product another w quotr 39 Girard sSupply Teligmarl img HEierrails l iirmsii mail an aduarrhisin Wah sites rm Eump uterimew ma a bases F en san annuah amn s imamrims Em Eallliang Tde spiuhslima mms mil trade shims 3mm FIGURE 91 CONTINUED Prospecting Requires Planning Increase number of people who board the Ferris Wheel Improve the quality of prospects Shorten sales cycle by determining which prospects are quotquaH edquot Prospecting plans must be monitored continuously f effectiveness Referrals WORD OF MOUTH VERY USEFUL Prospect recommended by current satisfied customer or one familiar a 397 u 1 i with product or serVIce 5f 539 39 a lira Hi l r l Hi Endless chaIn ask contact who else quot i could benefit from product Referral organizations facilitate networking Friends family members centers of influence a person may not make decision but has influence on those who do opinion leaders Business Network International Visit the world s largest referral organization i L 1E 1 g f f 7 77 n 1 w 7E ii 3915 VL39 393 J1 Ismail5 i9 L E 3 7 La i k I n 7 I a 7 El Directories 39 Hundreds of business and industrial directories available 39 Many major trade associations publish directories 39 Be sure to use current copy or edition as prospects shift firms track people and companies rinn 39 Pregnanan Parenting 39 Real Estate and Prunertu 39 Straits 39 Trauel and Tuurisrn unwm urnrrrrllerurnnnrnnnI Eunaurner direction 39 are Music and Drama 39 Beautyllare 39 39 Eumuuter 39 Edueatizdn 39 Faslninn 39 Fuudand Entertainment 39 GGIdEFWGEll 39 Gilt 39 Healtlnand Wellness 39 Huntlies 39 Hume Furnislninu and m Industrial Commercial and Consumer Guide in Singapore Trade Shows Publications 39 Trade shows and conventions your company may have a booth at key trade showsexpositions Trade publications each industry has trade publications that sales professionals need to read 39 Join trade associations many salespersons join trade associations to gain access to potential buyers Telemarketing I Telemarketing the practice of marketing goods and services through telephone contact I To identify buyers and generate contact lists for sale staf I To qualify prospects I To verify sales leads 8e n e rated by ot helr a I methods h w I To conduct foo Direct Response amp Sales Letters Direct response advertising often features inquiry cards or information requests via mail or telephone 39 Sales letters send sales letters to decision makers then follow up Website I Websites provide costeffective way for sales professionals to I Project personal image I Provide additional information I Generate leads from visitors to site I Present product information I Establish email lists Computerized Databases 39 nhouse databases your firm may already have a comprehensive database sometimes referred to as the quothouse list with details on customers purchase patterns and so forth List sources wide range of precise lists available fro e variety of sources Computerized Databases 39 Purchasing databases or lists can be costly price usually set on costperthousand names Not all relevant databases are equal some pull better than others 39 Pull is the percentage of the list resulting in qualified prospects or actual sales Cold Calling I Simply calling prospects without referrals I New salespeople rely on these as they haven t built referral base I Must be strategically planned I Prelude to inperson appointment I A way to introduce yourself and your company to a prospect Networking I Making and profiting from personal connections I Networking guidelines I Meet as many people as you can I Tell them what you do I Do not do business while networking I Offer business card I Edit contacts and conduct followups Three I of Networks Hetwnrking quot4 x Networan within yur within ynur organlratln inuetry Heiwu tlng utslde yuur Industry Educational Seminars Provide opportunity to showcase product without pressuring to buy Require extensive preparation Start valueadded process Can attend or present at industry sponsored seminars or offer your own NonSales Employees Nonsales personnel can be valued source of leads 39 Prospecting not necessarily exclusive task of sales force Nonsales personnel often need trainin and incentives Combination Approaches 39 Salespersons generally rely on combination of prospecting methods 39 Some methods have higher yield than others Important to use CRM technology to help maximize efficiency such as collecting customers information eg profiles contacts communication history Qualifying Prospects Key timesaving criteria Does the prospect need my product 39 Can prospect make the buying decision 39 Can prospect pay for the purchase Will anyone close the sale Organizing Prospect Information 39 Prospect as an individual 39 Prospect as a business representative E E b nFm aazcm a an r Important to balance time and organize contacts Prepare a list of prospects Forecast potential sales volume for each new account by product Carefully plan the sales route to minimize time an cost In quot l cmmf mummi J Ail Questions APPROACHING THE C U 5T0 M E R WEEK 3A w BM0641 MEDIA BUYING amp SALES NEGOTIATIONS SEM 2 AY1314 w AZHARmmm Learning Objectives 0 Describe the 3 prescriptions are included in the presentation strategy 0 Describe the role of objectives in developing the presale presentation plan 0 Describe the nature of team versus oneperson presentation strategies 0 Describe the 6 main parts of the presentation plan 0 Describe the 7 ways to convert the prospect s atte and arouse interest w 0 Discuss the basic steps of the preapproachw Qv um 39 39 1 39 w i 39 i I 0 Explain how to effectively approach the cust a Presentation Strategy Defined The presentation strategy is a plan that includes three prescriptions MEstablishing objectives Developing presale presentation plan to meet objectives Renewing one s commitment to outsta I 39 r c u sto m e r se rvi ce StrategicConsultative Selling Model S TH TEGll l llll llll lllllE SlElLlllll ii lll39lllll El Sfl f gfl SEEP Prmwl DeallHl p El P l l l l Selling Flllll lllly39 Mum Marllellng E l ll pll Value P l l39l l Selling 3mm 3 Fl hl m EGll ll lP l ll lElr Dewielnap H l ll l39l lllll Elralegy Adaptwmwn Ph phy Pl ji ll Fl l l l l jl lmaargla Maintain ngl l Ellll l El l l l d Dwell p Flagellum Elalegy 33mm 339 Fr dm Rpm Sell Bernellla Bunllgllre Halue dde E llllll l39l D l39 l ll ll l m l Slml l lll lIElElEl Ellld llllE Ewlng Fl Ullll 39ml Ellld BWE39FBEll lll l l f I39 Devel p Pl p l l 33139 Delll 39ll p IEl Pleaslan nlallmn Elralalgy Prgp g ugh gglmg lDEMHl p Pmenlallm l Plan Pmlde llll ll llldlllg Swim Elraleglmnnsullaltlva E llll lgl lamlvml lil l raspnzrme ll ifnlnn easa E l lllp llll m more EDITIBIEI pm um lmcma ed Ellllflll l ElE l l Eulal m l n13 alas all gmwiirlg ll39n lpni talme lull ll il lQ l lfm l l ll ll hll i u Preapproach amp Approach Planning Preapproach involves preparing presale objectives and presentation plan Approach involves making good impression securing attention developing interest Strategic Planning Leads to Actions strategic planning fur the apprach Strategic Planning Etratic planning far ctiuna during thE appma h tI39IE p pprnach HEEiEW prasntatinn L Tl39lphurla E t t ukhjmtivas whn apruriat Haitian the Stia mam Etamain building ratapart Enu tm during HIE first in lling Mi dial ITIII39IIIt a 39 using cuntct cnvrting huyr s attanti ni E 3031 a in Pdum 139 Eafarr39al I Euatn rnr hnafit utiun In Emmy Eminatinn 3 Prepare n appmalzh W nrkah 1113 V maxim 39 W 1 u 1 II quotfl WEE Establish Presentation Objectives Wisely Carefully selecting presentation objectives can 39 Shorten sales cycle Provide value to the customer 39 Clarify the topics to be discussed if sent to the customer prior to the sales call First Call Presentation Objectives Establish rapport and begin building a relationship with the customer 39 Obtain permission to ask need identification questions 39 Obtain personal and business information to establish the customer s file Presentation Objectives Stage 2 Involve the customer in a product demonstration Provide value justification in terms of cost reduction and increased revenues 39 Compare and contrast the features of for example a truck fleet lease plan with a fleet purchase plan Team Selling Objectives Team selling is suited to organizations that sell complex or customized products Sales teams often uncover problems and solutions that individuals may not Team sales presentations require a more detailed precall plan Each team member must know his her role Selling to a Buying Team Must satisfy both the individual and collective concerns of each participant Determine the role of each decision maker and their amount of influence Make sure all are involved do not ignore anyone Discover any silent team members 3 Basic Presentation Objective Types 1 Informative 2 Persuasive 3 Reminder 1 Informative Presentation Usually involves new or unique product More prevalent when new product introduced to market 39 Typically prospects don t purchase until familiar with product details 2 Persuasive Presentation Presenting product appeals to influence prospect s beliefs attitudes and behaviors 39 Strategy designed to encourage the buyer to make a buying decision 39 Forms of persuasion include positioning yourself to ask questions gaining agreement at each stage of the buying process and asking for the sale 3 Reminder Presentation 39 Reminds prospects of products and services offered by firm 39 Reminders can prevent competition from capturing business Also remind customers of special services that add value Note on SixStep Plan Each of the six chapters in Part 5 of this text concentrates on a specific step of the presentation plan This chapter focuses on I Approach P P PWP SixStep Presentation Plan Approach Presentation Demonstration Negotiation Close Servicing the Sale Approach Objectives I Initial contact with customer I Three objectives I Build rapport I Capture full attention I Transition to need discovery stage I Often a phone call Establish Credibility Early Credibility is an impression that people form about you Do not erode your credibility by I Arriving late staying too long not following up 39 Credibility grows when the customer realizes you ar competent and can add value Telephone Contact I To set first appointment I Practices to employ I Plan in advance I Identify self and firm I State purpose of call I State estimated length I Confirm via note Using Voice Mail Be prepared Be brief Give likely benefits Give best time to call back Repeat your phone number slowly State any referrals Using Email Meaningful subject line 39 Tell reader what you want then encourage a response 39 Put important information up front Always use grammar and spellcheck tools 39 Use signature file Social Contact I First few minutes are key in first impressions I Develop conversation by I Here and now observations I Sincere compliments I Search for mutual interests acquaintances Business Contact 39 Converting prospect s attention from social contact to business proposal is an important part of the approach When you convert and hold your prospect s attention you have fulfilled an important step in the selling process Business Contact Seven effective methods to capture attention arouse interest and transition into the next step of the presentation Agenda approach Product demo approach Referral approach Customer benefit approach Question approach Survey approach Premium Approach NP P 9WF Business Contact Approaches 1 Agenda approach 2 Product demonstration Review meeting goals aPPrOBCh 39 Shows that you value GiVe actual PrOdUCt the customer s time demonStration 39 Agendas should be Use COmPUter Or Other flexible audiovisual aids to provide quotvi rtual I A w Kquot L 39i39 H v i quot7 a H Ry Business Contact Approaches 3 Referral approach 4 Customer benefit Third party opinion or approaCh statement adds 39 Immediately point out credibility at least one benefit of 39 Include namedirect Your PrOdUCt reference to third party present key bene ts in order of imporfan Business Contact Approaches 5 Question approach 6 Survey approach 39 Ask direct question Prospect Completes questionnaire before 39 Get prospect thinking about problem your product will solve contact Analyze results to assess needs and Listen to response benefits 39 AVquot d 98 v p ri ce x d u i O n 05 a v 5 v i quot39ll a HI my Business Contact Approaches Premium aPPmaCh Combination approach Provide free sample of Use multiple product approaches Provide prospect with Provide flexibility gift such as monthly appointment calendar Combination Approaches Allow for smooth transition to need discovery eferrl I Question N 39 Need dsouery Applying These Approaches Thule illllllL IET39llTE EES haw T39ll l prepare EWEE EWE39 IFE39EJIFWIEIFIIIUI lppm l r i WEE EWUF E WE IE1LJtET39t39U39ITIi39IrE39ITHES l l l MEII39IH I iF AFFH39EIHI WHEIT WIIIIJL 39filll gen a E FITIDIEILJEE E 3 EJLHEEEIEIWEIIT Ell i l ifli i HEIWEIFFEJI 1 i liue Eugjp y mama f llJl inmr meelilimrgl wl tl men wrung Wmm e wmmmaHp n emmmmth m mm Ea imamquot minimum We have jluaa rieiuelivenj a Ehli jmem m HEW TTIlll IENEEJTIEITES mf l lli li ll FEJEITITIIEJIT llm 39li ll li ll lll EH l r Tf39 if l l39TIEi WEJI39TIILWEETIMIITEW MIT jll l WEISS WEE pmr a rzll a I3l l39 lg 39 HEJrrI39tE Empi nlicrs I m j Mir lFleil hannt wanna Illilhze 1m yum mp mr Ef L lF iE lllE39EE Ii v il 39 WNW LJlF Il lgli l p lnl m l l t 3 Heall Eastate Mr and Mrs Stuart my E m l listE and SHINE WHITE Ii il li39l r s 39E 39IIHrEiF puma iIITiI WE ENTER M39if il if 39 f LJlF l l ll i l 39 IE ll l lILIIIT pem mrm quot EE39 W ll l I J SEMI jif39E L lF hl lli l rE39 Wil i illi l WEI 4 Fvnlmj Whl lIIEEEJIEIT Fianna nemn prunl uremem manager Mr Mercy IMIecIIiIeII Banter Euglgeea enj itha t Il pifl rVil E firm wli39itlhn linir mm lin altj uli IBIIUIIT unmgju terltzedl lrnjen III39I eyeliem Applying These Approaches TIHIIIEi illllllL IET39tFE EEES haw Tll l EHFEE3IEIITE E i l WE39 FE 39Wl l ll l Ejp fl l ll i rEfE WEE Emma IUI39TIE IE1LJtET39l39 39mE39fFHES l l ll ln w 11F min WIHIIEIT WIIILJL 39f 5 iUEE Emma1i Fremlium Haitell cementum eewl rcea 39 Mira Irli tc lraugl llin n wlillll yawn lL EJI IRFEJWEWEEE MEIETIIIII HQ IDIE ITEIEIIIEEI Illi il quotl LJtET39t mw lEEill ll39 E li l lpiLJl EE gamma 39 MI mane II wanna Ililll ae the ppmritunl w 1m IIEEJFIW raltmuit yam anaemia IFiEI EiIVEJDJIE am aazlc um ts payablle li l l lwll a We may he able in ewellnp ms nmilze l pruugmm in rm wlillll ailgnili l rant ly Iimpr ue wurc sh ml w w i Elia HE39EIEJIII memrswer II ash HIEHLII a Few quee i39tl39rn s 3mm L w Emulr wardrmev The il ifl l r jl li il wlillll INIer me Delmar Iwn em rIle jg iLllll ltnl l nilngl needlequot lll39 j r il ll EEiFWIEWE ll WEIMIIIIE IIIIFEE lil l Igl39l39lu 39 3mm 3 p1L 34il jl ll l Eli l 39tl tll quotI x Sales Call Reluctance 39 ThoughtS feelings and behavioral patterns that limit accomplishments Can be caused by I Fear of taking risks I Fear of group presentations I Lack of selfconfidence I Fear of rejection Coping with Reluctance Be optimistic about the outcome Practice approach before making contact Know that being anxious is normal Develop a deeper commitment to your goals Selling to the Gatekeeper Assistants or secretaries who manage the decision maker s schedule Treat the gatekeeper with respect Can be an important source of information May help make a preliminary qualification before reaching the decision maker Discussion Questions 39 What are some ways you can build relationships with gatekeepers 39 In addition to accessing the decision maker what other benefits can a relationship with the gatekeeper provide In quot l cmmf mummi J Ail Questions CREATING THE CNSUILTTIVE SAILES PRESENTATION WEEK 83 BM0641 MEDIA BUYING amp SALES NEGOTIATIONS i s E M 2 AV 1 3 14 a e l AZHARmmm Learning Objectives Describe the characteristics of the consultative sales presentation Explain how to determine the prospect s needs Discuss the use of questions to determine needs Select products that match customer needs List and describe three types of needsatisfaction T x presentation strategies w presentations P P 39gtP l l SixStep Presentation Plan Approach Presentation Demonstration Negotiation Close Servicing the Sale Strategic Planning Leads to Actions Stateic planning fur the presentatiun Strategic Planning Etreteie V e 39 Aetieee ieleee elenninu fer during the the presentation preemietien ZI Preplen queeliene 1m EelI epprepriete queetiene quot eiii W H 1 11quot 39 39I 2 Heinriew preduet etre 5 Heeerd euetemer I Prepare rereeemmen M Hnewledee end summarize l r E lllf e euetemer neede 1 ii Iquot 4 Prepare 1e aeprpriem EL Eeleetend r eeemmene preeentetien ehateiy39 enereerie39te eelutien 5 Review preeentelien 51 Meleeeepreeriete guidelinee ereeen39tetien FourPart Consultative Sales Presentation Guide Need stisfantiiin Heed dign wew SalamiH nfthe mf h mffml g Servicing the Em hl s IIII L Elj j L 39 muamngs and l sale build repeat qiu g i sj pzivn ial pint r mquot 395quotquotf9 L busingass emphasms an statements Need Discovery Egeleuiiun f Hem dns wew the gunman Ask appmnipiriate questtimms L stem almtll anhnn ledge EME39IEIMIEIIquot ITESJII11TIEE Estalhll sllm buying mruitime Heedstisfntinn FEEEI It U Eemieimlg the salt Value of Questioning quotThe effective use of questions to achieve need identification and need satisfaction is the single greatest challenge facing most professional salespeople The types of questions you ask the timing of those questions and how you pose them greatly impacts your ability to create customer value quotIf 15 39 r J g Types of Questions 1 Survey 2 Probing 3 Confirmation 4 Needsatisfactiong 1 Survey Questions Information gathering questions designed to obtain this knowledge I General survey questions I Specific survey questions 39 Not to be used for factual information one could acquire from other sources prior to the sales call Need Discovery Worksheet 39 Strategically prepare tentative questions before making the sales call Prepare open and closed questions I Tell me a little bit about your investment portfolio opengeneral survey I What are your major concerns when managing w your financial affairs openspecific survey y 2 Probing Questions Help to uncover and clarify the prospect s buying problem and circumstances Are referred to as implication or pain questions and used more frequently in large complex sales Help the salesperson and customer gain a mutual understanding of why a problem is important Using Probing Questions Probing questions can help a customer realize how a problem high employee turnover can have other consequences undertrained staff lower customer satisfaction and less revenue building more value for the salesperson s offering onsite training What are some Questions you could ask to discover the full extent of the following problems High employee turnover 0 Slow turnfa if Outdated technology High costs I r 3 Confirmation Questions Verify accuracy and assure a mutual understanding of information exchanged I Summaryconfirmation questions Buying conditions are those qualifications that must be available or fulfilled before the sale can be closed 4 NeedSatisfaction Questions Designed to move the sales process toward commitment and action Focus on specific benefits Are powerful because they build desire for the solution and give ownership of the solution to the prospect Listening and Acknowledging Develop active listening skills Focus your full attention Paraphrase the customer s meaning Take notes Selecting Solutions that Add Value I39Iiee ieeeuew ak ap1pirpipzriiate qiheatiiune Listen and aelienpwledige eiuetaaaeir lf ES IDIiIEE IEetaihiliiaih twin ma ltirue Selection at the solution Mateh hene ie with lapping motives Gunfigure eel39uiifpn Make appropriate reenmmentlatian Heed eatiefa eiipn iquot preee ntatiph i Eerhieiihg the sale Match Specific Benefits with Buying Motives Buying based on needfulfillment Buyers seek cluster of satisfactions 39 Focus on benefits related to each dimension of value Configure a Solution 39 Most salespeople have variety of products 39 Package solution from your array of products Appropriate Recommendations Three Alternatives 39 Recommend solution customer buys immediately Recommend solution salesperson makes need satisfaction presentation 39 Recommend another source Need Satisfaction Selecting Presentation Strategy Esteotion at his eosatisfa otion Eelrnieiin Heep niseouere mg 5mman presentation the sale Ask appropriate Matisth bene ts with Eeleot inform atiee onestinns hoping motives presentation Listen and asilenowieotge Eon ipnre Eeleotpersuasiee siostnnneir response sotliotioin presentation lEstath ilisin thinning Maine appropriate Eeleetrernineer motinre resonnmenoiaition presentation Informative Presentation Strategy Emphasizes facts Commonly used to introduce new products and services Stress clarity simplicity and directness Less is more beware of information overload Persuasive Presentation Strategy To influence the prospect s beliefs attitudes or behavior and to encourage buyer action Used when a need is identified Subtle seller transition from rational to emotional appeab Requires training and experience to be effective Reminder Presentation Strategy Also known as quotreinforcement presentations Maintains product awareness Good when working with repeat customers Sometimes a dimension of service after the sale Developing Persuasive Presentations that Create Value Emphasize relationship Sell benefits obtain customer reactions Minimize negative impact of change Strongest appeal at start or end Target emotional links Use metaphors stories testimonials General Guidelines for ValueAdded Presentations Demonstration adds strength Plan negotiating and closing methods Plan customer service to add value Keep presentation simple concise 332 E39aElj E p u 4 Lr lnrLLL EmmaQueueanQu u guuuEuueeeeece u wx a e1 u Au lu m a a n a a a aw A Part me Part Tw Fa rt Three Time Used by Salesperson Review of Strategies r V Eeleetion ei Heed satisfaetion Eeririeiinp New MWij 39 the solution F F the sale itslt appenpriiate Matoh bene ts with Eeleet informative questions looping rnotines presentation ILiisten and aeiienowieoipe Gonfiure enstenneir response solution Estaioiliisin ornyiiin Maire appropriate Eeleet remineler motive reoornrnenoatien A quot presentation Transactional Buyers I Primarily interested in price and convenience I May have already done research used Internet to gather product information I Most understand what they need and when they needit I Focus on price and delivery In quot l cmmf mummi J Ail Questions EVALUATION OF PRINT O N ILI N E M E D IA WEEK 14 w I BM0641 MEDIA BUYING amp SALES NEGOTIATIONS S E M 2 AV 1 21 3 AZH m m m Classifications of Magazines By By Audience Geography Consumer Local 0 Large magazmes Regional 0 Flat Farm 0 National 0 Standard lVIagazmes 0 Smallor Busmess Pocket lVIagazmes H39Tiil H lu i gt r h INTERMIETINC wr V EUROPE 15quot LA ww Miamim BUUINDFQHTHEEIAHSE 39 m N CAMPMEN KICKMDFF em whyquot he smmi ngmt Theehanging Mummeme EEG539 w l 1 w 3w new r Li39 7 37 3 mummanna m HI h f h i lm lav The lime Slwr 011 M Emnpamy From F011 Dix in Vi t m d RIDAM39S a DEEISIUN f JAPRMEEE IMPERTS 1 SUMMER j GAMES Eat laPIill 1m 1amp4quot 7 FRIFE 51 THE HMAIIIHE FE H EH Amman 1991523250 D39AE I39L EAIES ls LESS Inn ing tn Bllames by F rn riin annnn n n w snnnnn 7 SIIWWEII 7 n 1 j EaiShenhy M THE 1 EARH ES EEELMEEIWH 39 I Jj Inhn Hinhardsnn and l nnid Mm Elm HMIEIL F i39lnsnpihnn Hing by Staphnn Seni HDIULWHI MMHEH Whatlls line ES EFhESTS 39 Basil lnntinct u by Lynn Hirsnhlnerg ny ancwul lns h snnwnnwn 39 it I 15 ThntP aEEimn Hf Muhamnmd 3511 Advantages and Disadvantages Advantages Disadvantages l Selectivity I l Costs I l Reproduction Quality I l Limited Reach I Creative Flexibility I Limited Frequency l Permanence I l Prestige I l Receptivity Involvement I I Services I Long Lead Time e ia Kits Provide Information on Readers D W m m n39 1 u L39ll l l39ill39i39 11PM E imms 111m Ei39 M l39 39i i39l JEN335 i39IIE Din M m i li t uE U5 39lrl39lE EiIEIHI TIEJI39jIEI Eiril39 liliiil quot i E l m W i l w m I39EQJEIIWEI EEI39EWWEH 5H 53765 15 II I Emil EC spot marl Eris EIElEFiEt39a F39I39Wm F E39J rE lm TIME hm ledunnaa ME u mu my TIME anam Tum b uh ihmnno mmJoEE l mt 39I39ah39IEEICIEIJTLd THb m th LEniJJEEIIID IIMEE globalmeadershm Inpumanm an muri armrln mdn News Bureau mam H1i39ll39i iu39l39ni merrizmrnagmnn AlilLIiEhEE Ei39ET TE l HAP PE E11 fr 393 F39H39EIE Him 53 EHEEE I ll H ELLIS II Special Magazine Features Gatefolds Bleed Pages Inserts Special Magazine Features Bleed pages ad extends to the edge of the paper no margins or white space Inserts such as return cards coupons and other devices Popups three dimensional special ads that stand up when the page is opened Cover positions special positions such as back inside front inside back A Gatefolds fold outs that give an extra large spread I h r Creative space buvs advertisers purgd w quot i quot quot units in certain combinations to incre I Consumers Rely on Magazines for Information Area of Interest Automobiles Beauty and grooming Clothing and fashion Computers hardware and software Food Fitness and exercise Financial planning Home repairdecorating Sports equipmentperformance Travel personal and business Percent f Adults Referring to Magazines 3399 63 54 50 49 45 6399 4399 42 TV Newspapers Radio 21 29 1 39 2039 5 1 8 1 5 14 M 1 939 22 6 l 3 ll 24 T Magazine Circulation Concepts Controlled Circulation Primary Circulation Guaranteed Circulation Circulation Verification PassAlong Readership Media Research Guides Advertisers m39 l 39 mam ti REITI a WEEquot allIan rm an i IIHTH E Fibula Ishma quot 5 Li liJh lll mullurn I may mi h lhA arIPHH h h i m mlmlm IllI I i ELII2 I Ef li i r K Ili quot39 I HIPII 7 Li Wm 7 a an mumaquot u i39 31 H hth quot ii 39hl i mi Ila HHMH hh W s Jim i haFrlghll LHmIJ alih n E nil5n gt I III 1 I 5quot J EH new in gym I39DHi uu 1 in rum 9 39W mw m i w quot quot m39 39 heLI 3539 W I39 m all F quot 1mm j 39 quot 39quotquot Alm AH V a v Inymm m 7 1 I III39E dhxull39m i VIEWFI M My meuqIamm 5quot W 39539 mm nmamlalm u M a i llhd g whizEna Lu H 139 r H 39 1 vlCz ltl ELIE HA U I BE mg FEW w an 1 L 39n Ian 39 39 xun um um Arm I Hm IiiI ill an The Future of Magazines l Declining Ad Revenues I Stronger Editorial Platforms I M Circulation Management I CrossMag amp Media Deals I The Future of Magazines 1 Declining ad revenues due to economic problems and declining readership 2 Stronger editorial platforms these type of magazines appeal to lifestyles and changing demographics and have attracted readers amp advertisers 3 Circulation management important to maintain circulation The Future of Magazines Crossmagazine and media deals two or more publishersmedia offering their magazines ad space as one package Database marketing more segmentation and niche strategies are available Advances in technologies allowing for personalized messages to tightly targeted audiences Electronic delivery publications availablew x n 3 5Wquot 4quot 1 quotquot11quot 39 339 39 tarantula LEu39 l iFHIJFIJE EUEIEE p n m quot r chm Iraqu IELIIEE FUR IU LEIIED im IVEIEHEH ETUl i 7 E5131 quotwMw i Newspaper Classifications Publication Frequency Type Size Audience Type Daily Weekly Na onal Specialaudience Supplements Standard Tabloid l 1 a a r 3 T if 1 i L 397 I I I 393 Ethnic religious etc l 39 f a g 39 lift 5 l 1 mix Characteristics of Newspapers The dominant advertising vehicle Newspaper Advertising Local mostly retail Dismay Ads II General often national I Paid reading notices editorial look i Small items arranged by topic Classified Ads ll Rates based on size duration I Classified display combination Legal notices public reports Public Notices Printed Inserts I nserts Help Marketers Reach Consumers BETH r39i 39i ETlEiHE Iii iE T IllElTHIE llfl l I Jilll I HHIIELHIIEIH 391le Ili nain Dal quot nd In nii uuui an 3 gwmrcIllaulruwsjgial m Iln39akr39i39 llnil in hankum ung1 l an in1iE1Ilar39iuH5 Liuw gm EmmaLa Elunmrl39l L39 312 Fui113939lia 39 I ms15 HEM v E iii F rl i r i QM L DIQIHIEUIII39I iill39 39JIrLrL39iffiaruquotLl39 in 13mm llr Illcrli Lulaum IIan in luluIn lawnsinus I551 quoti uwIiui e i39nurhn IIi In quotHimil an Iquot 3quotilu 1J39IHL1i HE E IEEEI IE I31 I IEIH In I yin munnil v39ilinliilur iiiremi In II 1ndquot n a nixm 39u UH Halli IaI udi ii la lwill1l llllili Jamila1hiaquot quot1l39quotamp1FEIur39 WE E39 lull IIIIII39IJ 39Ii IlaHrs Ill i ali liarrjn FLEEillllT l 39null F5 quotn39iEllu aim Iquot393939I39 39 39i lquoti2i Iinl axial 1 Ln ill MLr vllulll l ul39nilli a aiil39m i lam Jii allil39lilzilll JllrquotI 39E HJIIE 39qu a umla39lula39iua39 ILII g IImlquot quotf nmug ai39jrig life quotna sli i ji sirIv l I 39a39IEm xhn u rm EIIL UILE HI39Iulllll Harmmi 31 Rib issrniil Elh39 39Ju 39glw Ij fluid II I i I39iil39u quotlasharii mwuiii Hilliaifl illaiii x llcpiun Unique Newspaper Features Mass audience I Crosssection of population Local geographic coverage Wide range of content subjects Selective readership by area Timely coverage daily issues Readership concentrated in time Newspaper Advantages and Drawbacks Advantages Disadvantages l Extensive penetration I l PrOdUCt39O qual39ty I ma be low 39 quot T ey ave a FleXIbIIIt Geographlc selectuvnty 0t emograp Ica V selective Involvement acceptance Not p yChOgraph39Cally selective Services offered There 5 haVV ad g Com etItIon l V Potentially Poor placement 3 ll ilk If Newspaper Characteristics Read by almost all consumers Wide Audience I Read daily in an ordered way I Readers look at over 34 of all pages Few limitations on ad size Offer Spot and full color available FleXIbIIIty 51 L g L EL a diama ummuh n r k J k x x k F Thanh 5 lxlll AILII Iliq IwH HJ vimquot was k kntq mqii L M M k L k k A A x xx x x V L EIIF if If h 4 a a k x Itlllr I 4 an N x x x mwm Ingrid mquotuhla H 1 k k Hm gkfxlle xallu 1 w II HIE z n hImIIAI IIMIMM HM HHHI ML t 3 In nrlxlk T L Hun xl llllnlux L x A q k t L J k x Mwkmbu j I Hriw In LIIx wwa 1 p 1 Island Ads Break Through Clutter Rate Terminology SthRuns Preferred Position Color Rates Combination Rates Differential Rates Insertion Rates Open Rates RunofPaper ROP Flat Rates Short Rates National Rates Earned Rates Local Rates Terms of the Trade Some Newspapers Offer Combination Rates It takes newspapers to reach the 1 retail market in the We publish them all The MJHJTIJIFL Lauder ale DieLi39s HERE39S I The f e h jl u HenIN EL Knew HEEEIJIJ the Helmn in semi bipemflimg FE39E39 Elle Iii11ml 54 El Spermielm lertwege daily ililEiiLl rEhL39IEEa and The Herald in ETuward Dunn And 39I39l if l39D IEE I39m better was in reach Ems ageTheir r l39irrsae E hren mewsq 39 apmm Jimr lllgEupen ing marker than 13 a vc ieingg 139th higheat reach in Smith 39inniIa Elie iemi 3Hme Eilll39il l ll lriEl i Elie iima l Maharaldaenm mall mald umn m hnmldmm lemma I39 ilir Jlrliiliurl Efflilrlglil igiLHLZWME imimlal hquot l39kl liillH h larlu a x ail Illll ie SITquotEiE a39iLinl Ijr Him LIliii39Ll PHI El l L e39 IiLii I rtHaI39Ir39iPquotali i IeI aJLixcml Ur vial gil39l rE l i ilel H39i gameaquot herald rij 3 maFeellIrEeriildarmu 39E39hrn 39 d L39JE1u1CW1I zl IEIHL quotquotLI39I39hi AnnyJar eru u39ul uils 39I IL39quot39 571 gillquot e I The Future of Newspapers Competition from other media Circulation Problems and issues newspapers must address Attracting and retaining readers The Future of Newspapers Competition from other media Many papers need to gear up to compete as direct marketers as well as respond to online sites for classified ads Circulation Many are responding to this issue by emphasizing readership measures and developing online versions of their papers The Future of Newspapers Crossmedia buys Papers are coming together to offer a package of newspapers so advertisers don t have to purchase space in individual papers Attracting and retaining readers Many newspapers are redesigning their layouts and introducing new sections to appeal to important market segments eg women and young adults E lt IF g j 0 Z O 0 Z E 3 Main Types Search Website Buyterms Different ad 0 Forum hnked p g o B o 39 Recommendat logs Vldeo ions Vicrosites Email Interactives uls IE E Ad 5333am 23313213134 333333 333 337 Ef a g 39 33333 52353 3135333 33333331 33 1 219 21le E 1 1 w 533333 EE39I39li39r fiii E EE39E W33 T12i ILIE il illliil iIE arm Ital Mama i l f i gg Ep n in gr 3313323132 33333333 3313 33 33 33 ma a mammal Emma3 meta mum amine 3 31quot nial ma a 3333 3133 33313 333 3333 3311 33333 M33 33 3333 33333 333 3333 3333 3333 1333 313 3333 333339 11343 311 3313 3313 1333 2312 351 3333 IE 43 The study of the internet advertising market in the United States conducted by IAB and PWC has concluded that revenues for 2009 Search 10698 billion Display 7965 billion Banner ads 5061 billion Rich Media 1505 billion Digital Video 1017 billion Sponsorship 383 million Classifieds 2254 billion ReferralsLead 1451 billion Email 292 million AdFusion reported the percentages of consumers who have acted upon the promotional messages in 2009 Articles including brand info 51 Email Offers 47 Sponsored Search results 39 Banner ads 25 Popup ads 13 Online Terms Impressions An impression is a single appearance of an advertisement on a web page Each time an advertisement loads onto a user39s screen it may count that loading as one impression However certain nonqualifying activities such as a reload internal user actions and other events may be excluded CPM Cost Per Mille quotCost Per Thousand v V H advertisers Pay for exposure of their mes thousand impressions or loads of an adv f f39 5 Reload or refreshes are not counted a Online Terms 39 CPV Cost Per Visitor is where advertisers pay for the delivery of a Targeted Visitor to the advertisers website 39 CPV Cost Per View is when an advertiser pays for each unique user view of an advertisement or website usually used with popups popunders interstitial ads quot 39 CPC Cost Per Click is also known as PanyferW PPC Advertisers pay each time a user If Online Terms 39 CPA Cost Per ActionAcquisition the advertiser pays only for users who complete a transaction such as a purchase or signup This is the best type of rate to pay for banner advertisements and the worst type of rate to charge Also known as CPL Cost Per Lead CPO Cost Per Order Online Terms 39 CPE Cost Per Engagement advertising impressions are free and advertisers pay only when a user engages with their specific ad unit Engagement is defined as a user interacting with an ad agreed with the advertiser eg posting commentsubmitting video This measure came about due to social media 39 Cost Per Conversion Describes the cost of acquir customer typically calculated by dividing thej cost of an ad campaign by the number usually based on a purchase Advantages amp Disadvantages of Online Advantages Disadvantages LOW CPM Competing web hn I I Selective and questionable Interactive nature r h lReatime reporting I iUse data abuse privacy Easy to change even at mid m i n Global reach I lUserpushed I Hijacking hacking Search Advertising Search Engine Optimisation SEO r F F925 33 ref grail iyi jI A i r CELEIEil E g 39 r m 7IEI i7i1 III EF Ili IZIIE i lnI Egangli Wuran appears here When patential custnrners search fur ynur huaineaa an Bungle HE LE39EE EquotEi 39 quotLEHI H 39EFLJii 39H 39il LEE 1 III r5331 3amp1 lh m u m i mL I ja39h H 7 74 li unirw IE IEjumrmnmjmJIE 11 EllE ZIE ETnm innln 3 IJ 3 EJ39IT Elf 5 I 71 11 i i i i In HE39i 2 Emmi r1m 135 FitWat V39 939 55 if a LJ 39II r I la J it an I quot93 E J 15 a E ii h 39iliulln infill J Ela m JEEFEI j I 39EIliEJBJEI39j39I39TI m E39EIEiIi139 w i Iliril l WE iiiIE IIi isl 73912 Jn fr fulu39l T a i g FELJ F E LVJ D 71 3n gs53 mtLE l7 1 man It 7 I W IJ39EEIriIii f quottil 39539 7 i 7 El E E 39 139 7 E1 E39 39P EL E39IEE39 7 H 5 EH 357 VII1393quot 1 I39Ijrglii adwnrdagmglennm Jmt p 393 m In IIJJH L li j 7 III W H h i L ijliqQEDJ 7 31511quot hygiJE L I Iii EL F W I I 91 rmnlrln r 7 if 7 i u humming 1 31 39j39JIEE 3111 FL 2 LII Ewrlm brin 2773 Search Hesuits Website advertising Designh y an mm Standard Banner I 23460IfHalllf Banner 1 IE Recianglall quotmm M SWIG f i r A EH39CI EEEWE with gnaw 39I i39Erld Meal Banner 1 i Wide SMIEdlmperj any m nil a El ZIJ I Vf39r as 5 h quotIani ungaan Nimitzfall HEEZIEFIQIEJ a r I r It Hm 125x125 240x400 M mm a w v g i g g 5 w I I r 3 uare B39l lili l l v F39trfnnmmnmlnamlysls ElsiI I m Elm 7 HF h w 933139s ma amarmamm i ixh a39iU39i39 H EIVWH Elri l39iiJ i i I 1 u v 120x600 Skyscraper l39r muff11 139 II Il39 f ia 39r Fi 5i 39l39 1 4 i l r I ll iii ruua39ru I r 711 r musmine dalmatian L L r mmth A m ggm M H39 r ll f39 i UL39TI Ii Square 3 250x250 39i39ar39a39 39i39si39hH TI39i39 m mquot 3939I39 quotv9 cal 53931nt F1391 iu 5M1 ii Inl Ir 39Ia a 139 Large Flectangliel 336x280 quot Ed Rectangle 300x250 L El ljertmard 728x90 Rich media advertising any31 ai quot Ea n LIE 193 2 Wu 39F E mu quotuh 39If39i39 li 5 tinr7 semi2 1E 8 w 9 I 39m39v39urILIaIuez ErlEJIISI39 I unmaln rmln ube SIng up DulchLs1 0 Help Cngn39n memn Ji ga 11 39 7 N v 7 V r r 7 H 39 H orlm Uid sas Show Channeis Cnmam unity fastcar Search fast car resulis 11 2a cfanoua 1190 All Channels Pl aylists Ran I Relevance Y H Anyl rnl V Tvnr All quot39 Minute Oplio ns 39 155 car tr Cf Chiwpl39 ll W n l Ili 39 Car 1551 car I39Flzl j39i LIONI EHquot 1351 car wcrlei Mir rlml ll l Cll fast car dream 39I39I39DJ39IUII39 WHEN Intnresning Car Vldeo P39rVnFIei rn 1 5 Lu J Learn Abwul39l e Latest M10 Tamalesch r mnmatmn irnm Fond Med me New VDNU in m n IT 1me zlnrrn39d F wmm mus shunning crossover COI39I39IE to His and stop mseli i TOlllquot 39no lo a I z i 39r VDh C Fast car Tracy Ghanman WERE we39na low Ian interwpr Team and Ho U5 39 7 WWW hDLIEIDI39ILOml39I39ILI39I39HEaIIIWS EGI39I39I I ED 591 mham wigarm 739 39SMITHY lmi 15 Wily u WIT I I I I I 392 3939 395 ago 3521 753 115 vzrregnio J mrnertentnneamn om quotfDuTul LrniE 39 E 7quot quot4 quot lm an ingn 39 39 139 H l C39 11139 CIUS on 0mm 39E39nr grail IRE ELF 1 Elm ll 239 Harem 3911 quot5 quotIF391 53 n I H a In 39 39 Track Chapman fast cam Jl39dm 5553 IS quotin 39 m 39 E EE quot Eli 39E I r a 77 Tran Chapman 4551 ear 1 MIN pro irmblle quiUJ l Iu Pr a Manila Rum DEIEHIIHQ is a m rs at u I It L ago 39 39 s vaIachem MW SWINGquot Mme aa m z wwll mnam iiidrag uni5 39i39 l l nautocaa g a g i quot V 39 Fr cy Chapman 7 Fast Car 5 mu39ve gm a 13935 ca r wamna a ilcket Io amwnere Maybe we make a aealm ayne Iogclhcr m can get Gunmanhere Any place is halter Starth mm zero Myava mglsl tilrj Ef CHIJ ll WE L gui I51Y i fh f mu i minI L I I YD Wurldwide Engllsh SignUp OuickLIsH Help Signln Hams Videos Channels Community Search Meet the Email Towni See thequot Big Story at UlsiansVevgnsmmf mnil iawn WuTubmeLus Jegus 1511 Himu Bl sr u am 0quot 1 quotED Il can Emmi ta 2quot I lI39J J 1 Wamm cusmm fze this hamepage F3 Sign up for a You39Tube AEGDUF FE 1 13 Sign ir with your Gosglt I m sum PerD iEd chiecs mum E u 1 homepage 39 Instreams Average Online CPM Social Media 056 Website banners 315 Video standard ads 1215 Video premium ads 35 LIE Main EPM lay maul imitation W Siam i 7 L ssaw 552 ado ut mr IiiEH Emma39JEEFFiEn compHug Media Wim mtermedia Dimensionam nd mmny Melanoma 551ml of H rE39 ow Media itiands a e gram ed tn Ewartates Emigrant 310 JP Morgan study 2009 In quot l cmmf mummi J Ail Questions
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'