412 33 Powerpoint Slides 3 Selling Process Chap 3

Copyright © 2011 Oxford University Press Chapter 3: The Selling Process

Sales and Distribution Management, 2e

Dr Tapan K. Panda, Great Lakes Institute of Management, Chennai

Dr Sunil Sahadev, University of Sheffield, UK


Chapter 3

The Selling Process


Stages in the selling process

Pre-sale preparation

Sales Presentation

Handling Customer Objections

Closing the Sale

Follow up action

Approach to the customer

Pre- approachbefore the interview

Prospecting


Prospecting

Successful prospecting

50 potential prospects

15 Qualified prospects

6 Interviews

1 sale

50 potential prospects

25 Qualified prospects

17 Interviews

7 sales

Successful prospecting

No Yes


Process of prospecting

Identify and define prospects

Search for sources of potential accounts

Qualify the prospects from the suspects


Methods of prospecting

Cold canvassing Endless chain customer referral Prospect pool Centers of influence Non competing sales force Observation Friends and acquaintances Lists and directories Direct mail Telemarketing Trade shows and demonstrations


Selling process

• Pre approach to selling• Approach to the customer• Sales presentation

- approach to sales presentation- attracting customer attention- creating interest- arousing desire and building conviction

• Methods of sales presentation- canned presentation- organized presentation- tailored presentation


Handling customer objections

• Start with your highest expectations

• Avoid conceding first

• BE sure the customer understands the value of a

concession

• Make concessions in small amounts

• Admit mistakes and make corrections willingly

• BE prepared to withdraw a concession

• Avoid ‘split the difference’ strategy

• Do not advertise willingness to concede

Suggested by SMITH


Methods of handling customer objections

Superior feature method Yes…But method Reverse English method Indirect denial method Pass out method Comparison method Direct denial method Another angle method Narrative method Testimonial method Question or WHY method


Closing the sale

• Methods of closing the sale

• Follow-up action

• B2B selling

412 33 Powerpoint Slides 3 Selling Process Chap 3

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