9 TH EDITION CHAPTER 10 CREATING THE CONSULTATIVE SALES PRESENTATION Manning and Reece

See details Figure SIX-STEP PRESENTATION PLAN 1. APPROACH 2. PRESENTATION 4. NEGOTIATION 3. DEMONSTRATION 6. SERVICE 5. CLOSE

See Figure FOUR-PART PRESENTATION PROCESS NEED DISCOVERY SELECTION OF PRODUCT/SOLUTION SERVICING THE SALE SERVICING THE SALE NEED SATISFACTION

10-4 NEED DISCOVERY ASK RIGHT QUESTIONS LISTEN & ACKNOWLEDGE CUSTOMER RESPONSE ESTABLISH BUYING MOTIVE

10-5 VALUE OF QUESTIONING “Questions provide one of the most effective ways to involve the prospect. Appropriate questions reduce tension and build trust in a selling situation because they communicate interest in the other person’s problem.”

See Table TYPES OF QUESTIONS Information-gathering Information-gathering Probing (for details) Probing (for details) Confirmation Confirmation Summary--confirmation questions Summary--confirmation questions

10-7 NEED DISCOVERY WORKSHEET OPEN-ENDED QUESTIONS “Tell me a little about your investment portfolio.” “What are your current investment objectives?” CLOSED-ENDED QUESTIONS “Are you familiar with annuity investments?” “Do you have a money market account?” PRE-PLANNED QUESTIONS ARE OFTEN USED TO IDENTIFY NEEDS

10-8 LISTENING AND ACKNOWLEDGING Develop ______ listening skills Develop ______ listening skills Focus ___ attention Focus ___ attention _________ customer’s meaning _________ customer’s meaning Take ________ Take ________

See Figure SELECTION OF PRODUCT MATCH BENEFITS & MOTIVES CONFIGURESOLUTION MAKE THE APPROPRIATE RECOMMENDATION

10-10 MATCHING BENEFITS AND BUYING MOTIVES Buying based on _____- fulfillment Buying based on _____- fulfillment Buyers seek ______ of satisfactions Buyers seek ______ of satisfactions More needs met, more satisfactions provided, higher chance of sale More needs met, more satisfactions provided, higher chance of sale

10-11 CONFIGURE A SOLUTION Most salespeople have ______ of products Most salespeople have ______ of products Package solution from your _____ of products Package solution from your _____ of products

10-12 APPROPRIATE RECOMMENDATIONS THREE BASIC OPTIONS Customer buys immediately Customer buys immediately Salesperson makes need-satisfaction presentation Salesperson makes need-satisfaction presentation Recommend another source for product Recommend another source for product

See Figure NEED SATISFACTION PRESENTATION SELECT INFORMATIVE SELECT PERSUASIVE SELECT REMINDER

10-14 INFORMATIVE PRESENTATION STRATEGY Emphasizes facts Emphasizes facts Works with complex or high priced products Works with complex or high priced products Product stands on own merit Product stands on own merit Stress clarity, directness, and simplicity Stress clarity, directness, and simplicity

10-15 PERSUASIVE PRESENTATION STRATEGY Used when real customer need exists Used when real customer need exists Subtle seller transition from rational to emotional appeals Subtle seller transition from rational to emotional appeals Requires training and experience to be effective Requires training and experience to be effective

10-16 REMINDER PRESENTATION STRATEGY Also known as … “reinforcement presentations” Also known as … “reinforcement presentations” Maintains product awareness Maintains product awareness Good when working with repeat customers Good when working with repeat customers

10-17 PERSUASIVE VALUE-ADDED PRESENTATIONS Emphasize relationship Emphasize relationship Sell benefits, obtain customer reactions Sell benefits, obtain customer reactions Minimize negative impact of change Minimize negative impact of change Strongest appeal at start or end Strongest appeal at start or end Target emotional links Use metaphors, stories, testimonials Use metaphors, stories, testimonials

10-18 GENERAL GUIDELINES VALUE- ADDED PRESENTATIONS Demonstration adds strength Demonstration adds strength Plan negotiating and closing methods Plan negotiating and closing methods Plan customer service to add value Plan customer service to add value Keep presentation simple, concise Keep presentation simple, concise

Figure TIME USED BY SALESPERSON

Figure REVIEW OF THREE STRATEGIES

Last slide Chapter TRANSACTIONAL BUYER TRANSACTIONAL BUYERS PRIMARILY INTERESTED IN PRICE AND CONVENIENCE --May have already done research, used Internet to gather product information --Most understand what they need and when they need it --Focus on price and delivery