marketing chaptre

7/29/2019 marketing chaptre

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1/22/2013 10:22 PM TIMS- Prof. Adarsh J Navale 2

Prospecting & Qualifying

Pre-approach

Approach

Presentation

Handling Objections

Closing Sale

Follow Up


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Process of identifying the prospective buyers

Diff between Prospects & Suspects

Different ways of identifying the prospects:

-Acquaintance References Method(Friends, Family, Relatives)

-Cold Calling Method(Random Prospecting)

-Center of Influence Method(Influential)

-Personal Observation Method

-Direct Mail/ Telephonic Method(upgrading)


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-Company Records(old existing/lost, new customers)

-News Papers(Tenders, Requests)

- Middle Men

- Other Methods (old sales officer, junior sales officer,

trades, exhibitions, )


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Knowing the prospects likes & dislikes, his needs, preferences,

behavior, economic and societal status etc..

Preparing with the needed information tools, and plans for

approaching to give an effective presentation

Maximum time to be spent on those prospects who are likely to

give larger volume

Spend less time on planning, organizing, report generation etc..

Follow grading of the prospects.


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Stage when the prospect and the

salesman come in contact (face to face)

Opportunity to interact, observe and

understand much better. (Make best use)

Getting the Attention of the

customer/prospect and persuading are

the two main objectives

First Few minutes to impress and grab

a chance to explain further.


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Different methods are suitable for different customers,

products/services

Possibility of starting the approach with one method and ending

it with another

Very common method

Introduces himself based on the same

Uses companys reputation/ Brand name to attract attention

Not suitable to the brands/companies less known


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Making prospect realize that the product/service will benefit him

Ex: Would you like to cut down your electricity bill by 40%

Developing the interest in the customer to know more

New product which is appealing, attractive, best designed, unique

Handing over the product to the prospect to examine and satisfy

himself by having first hand knowledge and complete information


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Using gifts/novelties as door openers

Used to draw attention

Frightening the prospect / making him feel insecure

Useful for products like: life insurance, health & fitness products..

Pamper their egos and make them feel that theyare important


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Surveying needs & preferences of the customer before approaching

Helps in making a focused approach and in making a successful

sales presentation

Asking some question on the related topic at start of the approach

Question to be specific, appropriate and match the requirements of

the prospect

Can be combined with other approaches


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Very important as some times a good presentation is enough to close

a sale Includes the interiors decoration & appearance of the articles

Presenting the product/service


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the product quickly when the product is at eye-

catching location- creates good impression on the prospects andfeeling of importance

Best and neat packaging- does of the selling job

Explain the benefits, features & prices in simple terms

Can present with the help of models, pictures, videos/slides

Try & give an opportunity to the prospect to touch and feel the

product


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Never compare/criticize your products/services with those of

rivals

Show only those product/service of that quality which prospect is

looking for-helps in quick buying decision

Too many varieties confuse & too less varieties makes choice

process difficult

Making the product/service appeal the prospects senses- half the

battle is won


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an exercise to prove the characteristics of the

product

Creates +ve impression on prospects

Highlights attributes of the product- utility, performance, service

and quality

Helps the prospect to verify the points of presentation

Too many varieties confuse & too less varietiesmakes choiceprocess difficult

Avoid getting into any sort of arguments


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Stimulus Response Method

Formula Method

Need- Satisfaction Method

Team Selling Method

Consultative Selling Method


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Also called as Canned Approach- Memorized Sales Presentation

Making a right presentation(stimuli)- getting a favorable

response

Usually presenter doesnt knows much about the needs and

wants of the prospect- Salesperson just presents all the attributes

Another attempt is made to sell if the prospect is not ready to

buy.

Usually used when the product is non-technical- used by door-

to-door sellers, telemarketers


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Objections = Resistance = Opposition

Appears during sales presentation or when the salesperson asks

for a order- Shows prospect has some interest

They should be welcomed- to be answered satisfactorily

Two types of objections can arise: Psychological (hidden) and

Logical (real/practical).


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Asking Questions

Turning an Objection into Benefit

Deny objections tactfully

Third-party certificate &

Compensation


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Listening to the buyers objection carefully. Carefully replacing the

objections into a question and get buyers acceptance of thequestion.

An experienced sales person with +ve attitude can do it.

sometimes objections are incomplete or not correct- carefully deny

either directly or indirectly


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Taking a third-partys experience as an example to convince the

customer.

usually done if the customer has a doubt about quality/

performance

When the objections are valid


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Last step of selling- after answering all the objections

The second and final main objective of making a sales call

Includes receiving order from the prospect on immediate basis

Depends on judgment of opportunity, mood, perception, attitude

Based completely on earlier steps of the process


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Trial Close- Checks the attitude/Asks opinion of the prospect-

before actually closing

Reason for using Trial Close

PRESENTATION CLOSE SALE

TRIAL CLOSE

PositiveNegative


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Examines the product.

Asks another persons opinion

Asks questions

Becomes friendly


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Alternative- Choice Close

Minor Point Close

Assumptive Close

Summary-of-Benefits Close

T-account (or modified T- account) or Balance Sheet Close

Special Offer/ Special Deal Close.

Probability Close

Negotiation Close


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Check Customer OrderDelivery period, address, advance payment

Plan Follow-Up Visit at the Time of Delivery

Account Penetration

Relationship Marketing

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