Mkt 360 1st Edition Exam 2 Study Guide Lectures 9 14 Chapter 9 Approach What are the 3 approach techniques What are the 3 types of statements What are the 2 types of demonstrations What are types of questions 3 approach techniques 1 Opening with a statement 2 Opening with a demonstration 3 Opening with a question 3 types of statements 1 Introductory meeting customer for the first time 2 Complimentaryeveryone likes a good compliment if its sincere 3 Referral use another person s name 2 types of demonstrations 1 Product approach place the product on the table and wait for prospect s response 2 Showmanship approach do something unusual to catch the prospect s attention and interest types of questions customer benefit ask a question that implies the product will benefit the prospect Curiosity ask a question to make the prospect curious about the product Opinion ask for an opinion Shock make think seriously Multiple a series of questions to determine the prospect s needs Chapter 10 Sales Presentation What are the elements of a sales presentation What do proof statements build What are some types of visual aids What should you always prepare for Elements of sales presentation persuasive communication participation includes questions product use visuals and demonstrations proof statements visual aids demonstrations and dramatizations Proof statements build credibility Also past sales predict the future Types of visual aids product and product catalogs charts and graphs models and technology Always prepare for interruptions Chapter 11 Objection and handling techniques How to rephrase as a question How to boomerang it What is smoking out What is direct denial What is a third party answer Rephrase as question ex Your price is higher than competitors You want to know why our price is higher Boomerang it ex I like them but the top seems hard to get off Yes they are hard to remove to prevent children from getting into medicine bottles Smoking Out ex why Direct Denial means to always stand your ground Third Party Answer ex Here s a list of people who are currently using our product you can call them up and I ll even pay for the calls Chapter 12 Closing What are the summary of benefits What is alternative choice What is continuous yes What is a modified T account Summary of benefits Remember buyer of what they liked and remind them of the benefits you or your product can offer Alternative choice offer a choice and assume prospect has desire to buy Continuous yes series of benefit questions Modified T account get out a piece of paper and draw a T account with headings to buy and not to buy Chapter 13 What is product plus services What is the secret to success How can you show you care How do you plan for complaint solving What do buyers want Product plus services product no defects Price fair value for price Place available when and where needed Promotion correct and honest information Exchange transaction right the first time After the sale warranties and assistance Secret to success account penetration Ways to show you care phone when you ve thought of something that could help mail clippings of interest handle customers complains promptly Write congratulatory notes Always personalize Plan for complaint solving obtain relevant information from customer express regret for problem display service attitude if customer is right then handle the complaint quickly and cheerfully What do buyers want thoroughness and follow through after sale knowledge of the firm s product line market knowledge and willingness to keep the buyer posted and knowledge of buyer s product line Chapter 14 Sales territories Ways to perform account analysis How to set account objectives and quotas How to do territory time allocation How to do customer sales planning How to do scheduling and routing Why is it important to do territory and customer evaluation Ways to perform account analysis undifferentiated single selling strategy to all accounts because needs are similar Account segmentation different needs require different selling strategies Set account objectives and quota increasing product distribution increasing the product assortment purchased and increasing the number of sales calls each day How to do territory time allocation number of accounts in the territory number of sales calls made on customers time required for each call and frequency of customer sales calls How to do customer sales planning sales call objective customer profile customer benefit program and includes selling strategies for individual customers How to do scheduling and routing scheduling fixed time for visiting a customer and routing is the travel pattern used in working a territory Why is it important to do territory and customer evaluation to establish performance standards for individual in terms of qualitative and quantitative goals Buying 101 Buying What are the types of customers What are the types of buying What are the steps in the buying process Who are the buying centers What is the difference between RFI and RFP Types of customers consumers resellers oems end users and government Types of buying straight rebuy modified rebuy new task Steps in the buying process recognition of a need definition of the product type needed development of detailed specifications search for qualified suppliers acquisition and analysis of proposals evaluation of proposals selection of a supplier place and receive order and followup Buying centers users influencers gatekeeper and decider Difference between RFI and RFP RFI is request for information and RFP is request for proposal