1. CHAPTER 14 Presenting the Product

2. SECTION ONE Product Presentation

3. Objectives  Describe the goal of product presentation  List four techniques that create a lively and effective product presentation

4. Key Terms  Layman’s Terms  words that average customers can understand

5. Organizing the Product Presentation  When you sell a product or service, you analyze your customer’s needs and buying motives  Then you use that information to begin framing the product presentation

6. Show and Tell  Your first decision in the product presentation step of the sale is what product(s) to show to the customer  Think about what you’re going to say and how to say it  You have the opportunity to match the products features with customer needs

7. Which Products Do You Show?  After you learn about the customer’s intended use for the product, you can select samples to match those needs  Ex: You may select a technically advanced camera for a customer who wants a camera for professional use

8. What Price Range Should You Offer?  You always start off by showing a medium priced product  You can move up or down in price once you begin to get feedback  Don’t introduce price to early unless it is a major selling point

9. How Many Products Should You Show?  It is difficult for most people to remember all the features of more than three products  Put away displayed products in which the customer shows no interest

10. What Do You Say?  Talk about the product’s features and benefits  Tell the customer the features that match their buying motives and needs  Use highly descriptive adjectives and active verbs

11. What Do You Say?  Avoid slang and double meanings  When selling industrial products, use appropriate jargon  When selling retail, use layman’s terms which are words customers understand

12. Make the Presentation Come Alive  Planning is necessary for an effective product presentation  Consider how you will display and handle the merchandise

13. Displaying and Handling the Product  Creatively display the product for an eye-catching presentation  The way you physically handle a product presents an image of its quality  Handle with respect and use hand gestures to show the significance of features

14. Demonstrating the Product  Demonstrating helps build customer confidence  To prove selling points or claims, you may need to demonstrate in a dramatic way

15. Using Sales Aids  When it is impractical to demonstrate the actual product or when you want to emphasize certain selling points, you can use sales aids in your presentation

16. Using Visual Aids  Sales aids include  Samples  Reprints of magazines  Newspaper articles  Audiovisual aids  Models  Photographs  Drawings  Graphs  Charts

17. Using Visual Aids  Be creative when determining which sales aids will help you in your particular product presentation

18. Involving the Customer  It is best to get the customer physically involved with the product as soon as possible  You could have the customer swing a golf club, walk around in a pair of shoes, or try something on

19. Involving the Customer  Getting the customer’s agreement on several selling points help to ensure that you are on the right tract with the selected product

20. Holding the Customer’s Attention  When you involve a customer in the sale, you help the person make intelligent buying decisions  You also help yourself because a customer is generally more attentive when doing more than just listening to what you say

21. After You Read  When you cannot determine a customer’s intended price range, what price level of products should you show? Why?

22. After You Read  For security purposes and to make your sales presentation effective, what would you do if a customer asks to see six pairs of expensive earrings?

23. After You Read  How could you involve a customer in the product presentation when selling a copying machine for a business? Replacement windows for a home?

24. SECTION TWO Objections

25. Objectives  Distinguish objections from excuses  Explain the five buying decisions on which common objections are based  Demonstrate the general four-step method for handling customer objections  List seven specific methods of handling objections and note when each should be used

26. Key Terms ObjectionsExcuses Objection Analysis Sheet Paraphrase Substitution Method Boomerang Method Superior Point Method Third-Party Method

27. Understanding Objections  Objections are concerns, hesitations, doubts, or other honest reasons a customer has for not making purchase  Objections should be viewed as positive because they give you and opportunity to present the product more

28. Understanding Objections  Excuses are reasons for not buying or not seeing the sales person  Customers often use excuses when they are not in the mood to buy or when they are concealing other objections

29. Understanding Objections  It is difficult to distinguish between objections and excuses  Regardless, be polite and courteous  Encourage the customer to look around and ask you any questions

30. Understanding Objections  In a business-to-business situation, the procedure is different  Leave a business card if a potential customer refuses to see you or make a call whenever possible

31. Plan for Objections  Objections can occur at any time during the sales process and should be answered promptly  Customers who wait for responses tend to become preoccupied with the objection

32. Plan for Objections  Objections can guide you in the sales process by helping you redefine the customer’s needs and determine when the customer wants more information

33. Plan for Objections  You should welcome objections because they are not necessarily the sign of a lost sale  Research shows a positive relationship between customer objections and a successful sales outcome

34. Plan for Objections  You can prepare yourself by completing an objection analysis sheet which is a document that list common objections and solutions to them  You can incorporate objections in your presentation so they don’t become objections

35. Common Objections  When you list general customer objections you will see that they fall into certain categories  Most objections are based on key decisions the customer makes before buying like –needs, product, source, price, and time

36. Need  Objections related to need usually occur when the customer does not have immediate need for the item or wants the item but does not truly need it

37. Product  Objections based on the product itself are more common  They include concerns about things such as construction, ease of use, quality, color, size, or styled

38. Source  Objections based on source often occur because of negative past experiences with the firm or brand

39. Price  Objections based on price are more common with expensive merchandise

40. Time  Objections based on time reveal a hesitation to buy immediately  These objections are sometimes excuses  Customers usually have a real reason for not wanting to make a purchase on the spot

41. Four-Step Process for Handling Objections  Successful salespeople have learned to use a very basic strategy when answering all objections  It consists of four basic steps:  Listen  Acknowledge  Restate  Answer

42. Listen Carefully  Remember to be attentive, maintain eye contact, and let the customer talk

43. Acknowledge Objections  Acknowledging objections demonstrates that you understand and are about the customer’s concerns  These acknowledgements make a customer feel that their objection is understood, valid and worth of further decisions

44. Restate Objections  To be sure you understand the customer you can restate their objection in a number of ways  Do not repeat the customers concerns word for word, instead paraphrase  Paraphrase means to restate something in a different way

45. Answer Objections  Answer each objection tactfully  Never answer with an air of superiority or suggest that the person’s concern is unimportant

46. Specialized Methods of Handling Objections  There are seven specialized methods for handing objections  Substitution  Boomerang  Question  Superior Point  Denial  Demonstrating  Third Party

47. Substituion  Sometimes a customer is looking for a specific brand or model that you do not carry  The substitution method involves recommending a different product that would satisfy the customer’s needs

48. Boomerang  An objection can be returned to the customer in the same way that a boomerang returns to the thrower  The boomerang method brings the objection back to the customer as a selling point

49. Boomerang  When using the boomerang method, you must be careful not to sound as if you are trying to outwit the customer.  Use a friendly helpful tone to explain how the objection is really a selling point

50. Superior Point  The superior –point method is a technique that permits the salesperson to acknowledge objections as valid yet still off set them with other features and benefits

51. Superior Point  The superior-point method allows you to admit disadvantages in certain products but then present superior  This technique puts the customer in a position to decide between the different features and thus see additional reasons for buying

52. Denial  The denial method is when the customer’s objection is based on misinformation  It is best to provide proof and accurate information in answer to objections

53. Denial  When using the denial method, you must back up the negative reply with proof and accurate facts

54. Demonstration  The demonstration exemplifies the adage “Seeing is believing”  The demonstration method can be quite convincing and should be used when appropriate

55. Demonstration  Conduct only demonstrations you have tested and make sure they work before using them on a customer in a state situation

56. Third Party  The third-party method involves using a previous customer or another neutral person who can give a testimonial about the product  In any given sales situation it is unlikely that you will use all seven methods of handling objections

57. After You Read  Why should objections be answered promptly?  How can you prepare for objections?  Which specialized method of handling objections allows you to offset an objection with other features and benefits?