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M330 - SPIN - Chapter 3 Notes

by: Lauren Detweiler

M330 - SPIN - Chapter 3 Notes BUS-M330

Marketplace > Indiana University > Business > BUS-M330 > M330 SPIN Chapter 3 Notes
Lauren Detweiler
GPA 3.98
Consultative Selling
Dick Canada

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About this Document

These are comprehensive notes over Chapter 3 (Customer Needs in the Major Sale) of the SPIN Selling book by Neil Rackham. This was part of the reading for Week 2 of M330.
Consultative Selling
Dick Canada
Class Notes
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This 2 page Class Notes was uploaded by Lauren Detweiler on Sunday February 1, 2015. The Class Notes belongs to BUS-M330 at Indiana University taught by Dick Canada in Spring2015. Since its upload, it has received 144 views. For similar materials see Consultative Selling in Business at Indiana University.


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Date Created: 02/01/15
M330 Week 3 SPIN Selling Neil Rackham Chap 3 Customer Needs in the Maj or Sale 1 Different Needs in Small Sales and Large a With small sales i Only satisfying my need usually not consulting w others ii Stronger emotional component iii Smaller consequence if wrong decision is made b As sales become larger i Needs take longer to develop ii Needs likely involve more people iii Needs usually require a rational justification iv Purchasing decision that doesn t meet needs has more serious consequences for the decision maker 11 What is a Need a Any statement made by the buyer which expresses a want or concern that can be satisfied by the sellerquot i For the purposes of this book the term need includes both the needs and the wants that the buyer expresses 111 How Needs Develop a First sign of a need slight discontent or dissatisfaction b Existence of dissatisfaction means it s likely to grow evolving into clear problem difficulty or dissatisfaction c Finally problem is translated into a want desire or intention to act d In small sales stages can be almost instantaneous in larger sales process could take months or years IV Implied and Explicit Needs a Implied needs statements by the customer of problems difficulties and dissatisfactions b Explicit needs specific customer statements of wants or desires c Successful people treat implied needs differently than explicit needs i In small sales the more Implied Needs you uncover the better your chance of getting the business ii As sale becomes larger relationship between Implied Needs and success diminishes iii What matters is what you do with the Implied Needs after you ve uncovered them V Why Implied Needs Don t Predict Success in Larger Sales a Anyone making a decision to purchase must balance two opposing factors i The seriousness of the problems that the purchase would solve ii The cost of the solution VI The Value Equation a If the seriousness of the problem outweighs the cost of solving it there is a basis for a successful sale i Remember in larger sales cost is not measured only in terms of money ii Buyer can see significant risks and or hassles can t be measured monetarily as adding to the cost side of the value equa on VII Explicit Needs and Success a In a study Explicit Needs were twice as high in the calls that succeeded b As sale grows larger it becomes more important to obtain Explicit Needs not just Implied Needs c In smaller sales both types of needs are predictors of success d Success in larger sales depends on how Implied Needs are developed i Converted by questions into Explicit Needs VIII Buying Signals in the Major Sale a Buying signals statements made by the customer that indicate a readiness to buy or to move ahead i Implied needs are buying signals for smaller sales ii Explicit needs are buying signals for larger sales b Successful sellers put strong emphasis on needs development as the most important selling skill c The purpose of questions in the larger sale is to uncover Implied Needs and to develop them into Explicit Needs


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