Now how do we know about the features? What we learned about Personal Selling? What it is Why businesses do it (2 goals) How to sell with selling points (match needs and wants of customers to the features) Now how do we know about the features?

Getting Ready to Sell – Be a Salesperson Objectives Name sources of product information Explain the main focus of preparation in business-to-business selling and in retail selling Marketing Essentials Chapter 12, Section 12.2

The Pre-approach The pre-approach X the preparation (by salesperson) for the face-to-face encounter with potential customers In preparing to assist customers, salespeople get their product information from these sources: Study products Know industry trends Research potential customers Company Training

1. Study Product Information Salespeople learn about products through 4 sources: Discuss with your group: I am your boss, I have asked you to sell a PS4 Pro. You know nothing about this product. What will you do, or how will you learn about the product to be effective? The oldest student in the group use your phone Go to Socrative.com Name your group – school appropriate Log in as a Student Enter VETTER1304 as your classroom Enter at least three answers Marketing Essentials Chapter 12, Section 12.2

1. Study Product Information Salespeople learn about product through 4 sources: Discuss with your group: I am your boss, I have asked you to sell a DSLR Camera. How will you learn about the product to be effective? Written publications (manuals, warranties, catalogs, product websites) Direct experience – buy and use company merchandise, study display models, or see how products are made Other people – ask, read reviews Formal Product training Marketing Essentials Chapter 12, Section 12.2

2. Industry Trends Sales representatives learn about the industry by reading periodicals (newsletters and magazines) related to their trade If you are in the auto industry, are you going to read Women’s Fashion Trend magazines to learn about cars? Examples: a sales representative for an apparel manufacturer might read Women’s Wear Daily. Read fashion magazines such as Vogue for latest colors and trends

3. Research Potential Customers Prospecting - Looking for new customers prospect (a.k.a. lead) is a potential customer especially important in business-to-business selling Required or not required by a company Salespeople are evaluated on how many new accounts they open through prospecting efforts

Group Activity: You are the farmer from our online video and you grow and sell flowers. You are new to the Minot area. Discuss and try to find 3 ways you would find the businesses in Minot that could sell your product?

Methods of Prospecting A. Employer Leads: attend trade shows to display their products for buyers to gain customers Online marketing strategies through web pages, social media, e-book, blogs, being responsive to questions on social media or by hosting educational webinars B. Directories: Yellow pages in local markets as long as they are not in the Do Not Call Registry Sales representatives use trade, and professional directories For B2B contacts

Methods of Prospecting C. Newspapers announcements provide leads – ex: you manufacture and sell lawn care products – Look in paper for companies that sell lawn services D. Commercial lists can purchase lists of potential customers that categorize people by age, income, location, and cc purchases Marketing Essentials Chapter 12, Section 12.2

Methods of Prospecting E. Customer Referrals: two types: referrals —when previous customers give names of other people who might buy a product endless chain method - When salespeople ask previous customers for names of potential customers Some companies offer discounts or gifts to customers who give referrals F. Cold Canvassing: cold canvassing: process of locating as many potential customers as possible or selecting prospects at random going door-to-door, leave fliers where can be found Starting at top of list of numbers and call all also called blind prospecting

4. Company Training Formal Training Provided by company on how they want you to sell their products: Train you on the products Train how they want you to sell Marketing Essentials Chapter 12, Section 12.2

Company Compensation How is a Salespeople compensated? straight commission straight hourly salary Or salary plus commission Regardless of compensation, managers often establish sales quotas Sales quotas X dollar or unit sales goals set for the sales staff to achieve in a specified period of time Marketing Essentials Chapter 12, Section 12.2

Preparing for the Sale in Business-to-Business Selling In business-to-business (B-to-B or B2B) sales, pre-approach activities vary based on if a previous customer or a new prospect Schedule and appointment to meet For previous customers: Review sales record or notes about buyer family, interest, or hobbies in advance For new customers: Research if prospect needs this product or service? Review web pages etc to determine if they sell your types of products and only show those of interest

Preparing for the Sale in Retail Selling Preparation focused on the merchandise and work area Sales associates’ responsibilities include: Straightening, rearranging, and replenishing the stock Adjusting price tickets before and after special sales Learning where stock is located and how much is available Arranging displays Keeping the general area clean Marketing Essentials Chapter 12, Section 12.2

Marketing and the Marketing Concept Study Organizer Use a chart similar to this one to take notes about sources of product and industry information and methods of prospecting. Marketing Essentials Chapter 12, Section 12.2