Chapter 9 and 10 Notes
Chapter 9 and 10 Notes MKT 353 Personal Selling
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This 5 page Class Notes was uploaded by Samantha Bressler on Friday October 7, 2016. The Class Notes belongs to MKT 353 Personal Selling at College of the Ozarks taught by Mrs. Emily Emery in Fall 2016. Since its upload, it has received 20 views. For similar materials see Personal Selling in Business Administration at College of the Ozarks.
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Date Created: 10/07/16
Chapter Nine: SPIN acronym: Situation Problem Implication Need payoff Situation: ask the prospect about their general situation as it relates to your product. Problem: are they having a problem at work. Implication: setting up the problem. Need payoff: ask if the prospect has an important, explicit need. Example for a First Aid Rep. Situation: How many safety stations do you currently have? Problem: Have you ever had an employee get injured? Implication: Do employees ever leave work because of an injuries? Need payoff: If I could show you a way to ensure... WIFM What's In It For Me Now you are arriving at your appointment. Making first impressions. List on page 285. Rapport building: relating back to the customer. Approach: open with a statement: works when you have already uncovered their needs. introductory approach: used for the first time when meeting a prospect. use with other approaches complimentary approach: be sincere. referral approach: effective if the prospect respects that person. premium approach: whenever you give the customer a sample as an introduction when it is appropriate. open with a demonstration: effective when it requires customers to participate. product approach: when you place a product in front of the prospect and say nothing at all. showmanship approach: doing something unusual to catch their attention. open with a question: most common approach. Goes back to buying motives customer benefit approach: when you ask them questions implying it will bring them benefits. Carefully instruct. curiosity approach: when the sales person asks a question to make the prospect curious about the product. opinion approach: good for new sales people. people love being asked what they think. shock approach: think seriously about a subject related to the product. multiple question approach (SPIN): Situation (general situation. gathering facts), problem (uncover the problems they are experiencing), implication (ask questions that imply that the problem they are having is a serious problem), needpayoff questions (ask if the prospect if they would like you to fix it for them) The Use of questions: we use questions to help uncover the buying motives. Also good for two way communication. Four categories of questions: Direct method: close ended question hard to get your prospect talking. Nondirective: open ended. goal is to get two way communication open help find what problem they are needing solved. Rephrasing: allows you to determine meaning and understanding needs of prospect. Redirect: use when you aren't getting a lot of info or prospect is trailing 3 rules for questions: use only questions that you can anticipate the answer to. wait for the reply listen to the prospect Chapter Ten: Three Main Steps: 1. Discuss product fully 2. present marketing plan 3. explain your proposition Fully Discuss your Product: FeaturesYou see it Advantages Positive features benefits WIFM: whats in it for me Present your Marketing Plan: teach the client how to resale your product Explain your Proposition: get the client on the same page as you Difference between value and cost: Value: what you get out of it Cost: How much you put into it to get it Different techniques to sales presentation: Persuasive Communication: The use of a question to produce feedback. Best when coupled with features or benefits of product Logical Reasoning involves a presentation constructed around three parts: Major Premise: all manufactures wish to reduce costs and increase efficiency minor premise: my equipment will reduce your costs and increase your efficiency conclusion: therefore, you should buy my equipment Persuasion through suggestion is used effectively to persuade prospects suggestive proposition: imply that the prospect should act now prestige suggestions: mention someone high up there that uses your product autosuggestion: attempts to have prospects imagine themselves using the product direct suggestion: is used widely by professional salespeople in all industries because it does not "tell" but suggests buying, which does not offend the buyer. indirect suggestion: is used at times for some prospects when it is best to be indirect in suggesting a recommended course of action. countersuggestion: evokes an opposite response from the prospect. Make the presentation fun: be passionate about your product and don't come across as fake Personalize your relationship: get to know your clients and understand what they like Build trust: show that you are trust worthy use body language: communicate with an open body language. control the presentation: make sure you have control of the conversation by asking questions and keeping the client on track be a diplomat: let a client be right and ask the what you can do for them use pleasant dialog: have a nice tonal inflection to make clients feel welcomed simile, metaphor, analogy, and parable: use these to help compare your product to the client's interest. Participation in Presentations: questions: make sure to use openended questions product use: bring the product to the meeting and let them use it visuals: helps build creditability and helps clients feel more welcome to your company demonstrations: you use the product for them so they can see what they are doing Proof statements: proves to client that they will do what they promise. past sales figures guarantees testimonials research results Visual Aids: people attain more from seeing than hearing increase retention reinforce the message reduce misunderstanding create a unique and lasting impression show the buyer that you are a professional Examples of visual aids: *best choices *the product charts and graphs photographs and videos models or mockups of products equipment sales manuals and product catalogs order forms *letters of testimony a copy of the guarantee flip boards and posters sample advertisements Dramatization and Demonstrations: Dramatization: a theatrical/ shocking performance. only use if its 100% sure it will work Demonstrations: showing the client what the product can do Demonstration Checklist: Exhibit 10.8 Is the demonstration needed and appropriate have i developed a specific demonstration objective have i properly planned and organized the demonstration have i rehearsed to the point that the demonstration flows smoothly and appears to be natural what is the probability that the demonstration will go as planned what is the probability that the demonstration will backfire does my demonstration present my product in an ethical and professional mannner