Preparing the Sale Personal Selling – any form of direct contact between sales person and customer involves two way communication between seller and buyer Retail Selling – customers come to the store; sales people should be able to answer any questions about product B2B (business to business) – can take place at manufacturers or wholesalers showroom (Inside Sales) or at customers place of business (Outside Sales). telemarketing – selling over the phone

Preparing the Sale Goals of Selling 1. Help customers make satisfying buying decisions, which creates ongoing relationships with buyer and seller 2. Repeat customers – easier and less expensive to keep current customers than to generate new customers 3. Positive Recommendations – happy customers will tell others about their experience Consultative Selling provides solutions to customer’s problems by finding products that meet their needs.

Preparing the Sale Feature Benefit Selling matching the characteristics of a product to customers needs Product Features – basic, physical, or extended attributes of the product. most basic feature of a product is its intended use Customer benefits – advantages or personal satisfaction a customer will get from a good or service 2 questions to answer for customer how does feature help product performance how does performance info give customer a reason to buy the product or service

Preparing the Sale Feature-Benefit Chart Consider an MP3 player you would like to own, or the one that you do own. Think about all its features and what you like about them. Develop a feature-benefit chart for a new portable MP3 player. Come up with 8 features of the MP3 player and then list the benefits for the customer

Preparing the Sale Customer Buying Motives Rational motive – conscious, logical reason for a purchase Emotional motive – feeling experienced through association w/product Customer Decision Making How a person makes a decision is affected by following previous experience with product and company how often product is purchased amount of information necessary to make wise decision importance of the purchase to customer perceived risk involved in purchase time available to make decision

Preparing the Sale Customer Decision Making Extensive decision making – used when customer has had little or no previous experience with an item. They are usually expensive items and/or items that have high value to customer i.e. buying a home Limited Decision Making – used when customer buys goods or services they have used before but not regularly. Person often needs some information before buying product i.e. car, furniture, appliances Routine Decision Making – used when customer needs little information about product. Usually inexpensive items that are bought frequently. Satisfaction is high i.e. Groceries, products with brand loyalty

Getting Ready to Sell Pre – Approach - preparation for the face-to-face encounter with potential customers How to Prepare need to study products company offers keep abreast of trends and competitors research potential customers be familiar with company policies and procedures Product Information 4 ways to find information Direct experience – use it, wear it, etc written publications – manuals, catalogs, promotional materials, websites other people formal training – by sales people or vendors/manu.

Getting Ready to Sell Industry Trends – staying up to date on with current styles, colors, etc read periodicals that pertain to the industry Prospecting (lead)– a prospect is a potential customer Employer leads – telemarketing, trade shows Directories Newspapers Commercial Lists – buy lists of potential customers that meet specific criteria Customer Referrals – satisfied customers give salespeople the names of others who might buy the product/service Endless chain method Cold Canvassing (Cold calling) – potential customers are chosen at random. Door to Door sales

Getting Ready to Sell Preparing for Sale – Business to Business (B2B) varies based upon current customer or new customer. Current customer – analyze past sales and notes New Customer – need to do some research and find out following Do they need product/service Do they have finances to pay for it Does the person the meeting with make the decision, if not who does Preparing the Sale – Retail Selling preparation centers on merchandise and work area straightening, rearranging, and refill stock adjusting price tickets before and after sales arranging displays keeping selling area clean, neat

Getting Ready to Sell Company Policies and Training Training – four step process: explanation, demonstration, trial, critique Compensation – how sales people are paid: commission, salary, or both. Sales quotas – dollar or unit sales goals set to achieve in specific period of time. Legal and Ethical issues – all sales orders are legal agreements. All issues and aspects of the sale should be clearly identified