1. 9 TH EDITION CHAPTER 10 CREATING THE CONSULTATIVE SALES PRESENTATION Manning and Reece

2. 10-2 LEARNING OBJECTIVES Describe characteristics of a consultative sales presentation Explain how to determine prospect needs Discuss use of questions to determine needs Select products matching needs List and describe three types of need- satisfaction strategies Present general effectiveness guidelines

3. See details Figure 10.2.10-3 SIX-STEP PRESENTATION PLAN 1. APPROACH 2. PRESENTATION 4. NEGOTIATION 3. DEMONSTRATION 6. SERVICE 5. CLOSE

4. See Figure 10.3.10-4 FOUR-PART PRESENTATION PROCESS NEED DISCOVERY SELECTION OF PRODUCT/SOLUTION SERVICING THE SALE SERVICING THE SALE NEED SATISFACTION

5. 10-5 NEED DISCOVERY ASK RIGHT QUESTIONS LISTEN & ACKNOWLEDGE CUSTOMER RESPONSE ESTABLISH BUYING MOTIVE

6. 10-6 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.”

7. See Table 10.1.10-7 TYPES OF QUESTIONS Information-gathering Information-gathering Probing Probing Confirmation Confirmation Summary--confirmation questions Summary--confirmation questions

8. 10-8 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

9. 10-9 LISTENING AND ACKNOWLEDGING Develop active listening skills Develop active listening skills Focus full attention Focus full attention Paraphrase customer’s meaning Paraphrase customer’s meaning Take notes Take notes

10. See Figure 10.5.10-10 SELECTION OF PRODUCT MATCH BENEFITS & MOTIVES CONFIGURESOLUTION MAKE THE APPROPRIATE RECOMMENDATION

11. 10-11 MATCHING BENEFITS AND BUYING MOTIVES Buying based on need- fulfillment Buying based on need- fulfillment Buyers seek cluster of satisfactions Buyers seek cluster of satisfactions More needs met, more satisfactions provided, higher chance of sale More needs met, more satisfactions provided, higher chance of sale

12. 10-12 CONFIGURE A SOLUTION Most salespeople have variety of products Most salespeople have variety of products Package solution from your array of products Package solution from your array of products

13. 10-13 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

14. See Figure 10.6.10-14 NEED SATISFACTION PRESENTATION SELECT INFORMATIVE SELECT PERSUASIVE SELECT REMINDER

15. 10-15 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

16. 10-16 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

17. 10-17 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

18. 10-18 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

19. 10-19 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

20. Figure 10.710-20 TIME USED BY SALESPERSON

21. Figure 10.610-21 REVIEW OF THREE STRATEGIES

22. Last slide Chapter 10.10-22 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