Creating Product Solutions C H A P T E R 6

6 Copyright  2004 Pearson Education Canada Inc. 6-2 Learning Objectives Identify the reasons why salespeople and customers benefits from thorough product knowledge Discuss the most important kinds of product and company information that salespeople use in creating product solutions Explain the importance of developing a product strategy

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-3 Learning Objectives Describe how knowledge of competition improves personal selling List major sources of product information Explain the difference between product features and buyer benefits Demonstrate how to translate product features into buyer benefits

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-4 Strategic/Consultative Selling Model Strategic StepPrescription Develop a Personal Selling Philosophy Value Personal Selling Adopt Marketing Concept Become a Problem Solver/Partner Develop a Relationship Strategy Project positive, professional image Practise communication-style flexing Behave ethically Develop a Product Strategy Become a product expert Sell benefits Configure value-added solutions

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-5 Product Strategy is... a well-conceived plan that emphasizes acquiring extensive product knowledge, learning to select and communicate appropriate product benefits that will appeal to the customer, and positioning the product.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-6 If the customer has complex buying needs, then the salesperson will perhaps have to bring together many different parts of the company’s product mix to develop a custom-fitted solution. The product selection process is often referred to as product configuration. Product Configuration is...

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-7 Written Proposals may include Budgets and overviews Objectives Specific Strategies Schedules for implementation Rationales for taking action now!

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-8 Becoming a Product/Service Expert Know the product and quality improvement processes. Know performance data and specifications.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc. 6-9 Becoming a Product/Service Expert (Continued) Know about your product’s maintenance and service contracts. Know your product’s pricing and delivery policies.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Know your Company Company culture and organization Company support for your product

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Know Your Competition Your attitude toward competition. Become an industry expert.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Dealing with Competition Try not to refer directly to the competition during the presentation. Focus on your product or service merits. If discussing competition, have your facts right! Avoid criticizing the competition.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Sources of Product Information Product/Service Literature Sales Training Plant Tours Internal Sales Support Teams Customers

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Sources of Product Information (Continued) The Product or Service Internet Publications – –

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Sell Benefits, Not Features A product feature is anything that a customer can feel, see, hear, taste, smell, or measure to answer the question, “What is it?” Features include things such as craftsmanship, durability, design, and economy of operation.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Sell Benefits, Not Features A product benefit is a feature that provides the customer with personal advantage or gain. This usually answers the question, “How will the customer benefit from owning or using the product?”

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Using Bridge Statements A bridge statement is a transitional phrase that connects a statement of features with a statement of benefits. This method permits customers to connect the features of your product to the benefits they will receive.

C H A P T E R 6 Copyright  2004 Pearson Education Canada Inc Convert Features to Benefits Food Services Facilities Which means all your meetings will be held in rooms that are attractive and comfortable. Which means your people will find the rooms clean and attractive. In addition, those who wish can select a non-smoking room. Our hotel conference rooms were recently redecorated. Our rooms were completely redecorated this year and many are now designated non-smoking. BenefitFeature Which means your conference will be enhanced by delicious meals served by a well-trained staff. Which means your people can order food or beverages at their convenience. We offer four different banquet entrées prepared by our executive chef, who was recently selected Chef of the Year by the Canadian Federation of Chefs and Cooks. Our hotel offers 24-hour room service. Salespeople employed by a hotel can enhance the sales presentation by converting features to benefits.