Introduction to Business & Marketing February 7, 2011

Objectives Describe the steps of the selling process. Practice the selling process by preparing a role-play sales situation.

Definition of Selling S ELLING IS … P ERSONAL SELLING IS … the process of matching customer needs and wants to the features and benefits of a product or service. any form of direct contact between a salesperson and a customer.

Personal Selling Key Characteristic: two-way communication Where does it take place?  Retail settings  Business-to-business (B2B)  Telemarketing

Steps of the Sale There are seven steps in the selling process. For B2B sales, there is an additional step to start off the selling process called the pre- approach.

Steps of the Sale 1. Approach 2. Determine needs 3. Present product 4. Overcome objections 5. Close the sale 6. Suggestion selling 7. Relationship building

Step 1: Approach W HAT DO YOU DO ? W HY ? Greet the customer face- to-face To begin conversation To establish a relationship with the customer To set the mood for the other steps of the sale

Step 2: Determine Needs W HAT DO YOU DO ? H OW ? Learn what the customer is looking for 1. Observe – nonverbal communication 2. Listen – make eye contact, don’t interrupt 3. Question – general questions (5 W’s) and open- ended questions

Step 3: Present Product W HAT DO YOU DO ? H OW ? Educate the customer about the product’s features and benefits Based on the customer’s needs, select as many as 3 products to share. Display / Handle the Product Demonstrate it or use sales aids Involve the customer

Step 4: Overcome Objections W HAT ? H OW ? Learn why the customer is reluctant to buy Provide information to remove uncertainty Help the customer make a satisfying buying decision 1. Listen carefully 2. Acknowledge Objections 3. Restate Objections 4. Answer the Objection S PECIFIC M ETHODS Substitution Demonstration Third-Party

Step 5: Close the Sale W HAT DO YOU DO ? H OW ? Get the customer’s positive agreement to buy Look for buying signals, things customers do/say to indicate a readiness to buy Buying signals include facial expressions, body language, and comments. T IPS FOR C LOSING THE S ALE Narrow down choices Use ownership words like “you” and “your” Don’t talk too much or rush

Step 6: Suggestion Selling W HAT DO YOU DO ? H OW ? Suggest additional merchandise or services that will save your customer money or help your customer enjoy the original purchase Up-Selling Cross-Selling Special Sales Opportunities

Step 7: Relationship Building W HAT DO YOU DO ? H OW ? Create a means of maintaining contact with the customer after the sale Efficient order processing Thank the customer and reassure them of their purchase Follow-Up (when needed) Keep a Client File

We will go over the assignment sheet together. You may pick your partner for this assignment – make good decisions & do the assignment well! You will have the rest of class to prepare today. We will present at the beginning of next class!