MARK Chapter 17Tuesday, November 12, 201912:46 PMPersonal Selling and Sales Management Will the customer buy from me?-Has prospect expressed interest in my product?-Have I established my credibility and credentials?-Are needs Identified?-Does my solutions fit their needs?Buyers DM process-Need recognition-Info search-Evaluation of alternatives-Purchase-Post-purchase behaviorEvaluation of Alternatives-Perceived valuesoComes in many forms-Prospect is buyingoTangiblesoIntangiblesSales environment-Changes constantly oNew competitors-New sales tech changes ways in which customers:oInteract with sales peopleoLearn about product, companies-Successful companies ( in terms of sales) are good at:oPersonal sellingoSales managementoCRMoTechnologyThe Environment-What want or need does my product satisfy?-What business are we in?-What additional factors are there?oNew laws & regulationoData privacyKnow thy Competition-What separates you from your competitors?-Know your competition as well as you know your self.-Competitor's chief advantages?-How are you better than C?oEx.Relationship selling-Building, maintaining, and enhancing interactions with customers.-Emphasizes personal Step 1:-Leads = prospects-Identify potential customersProspect techniques -Internal recordsoSales records oReferralsoInquiries-Market inteloListsoGovernment resourceoComputerized data bases-Other (actions)oCold calls oNetworkingoTrade showsoConferencesoSocial mediaStep 2: (qualify leads)-Know your prospect's:oNeed oBuying powers-Buying center-Available budgetoReceptivity & accessibility: willingness to meet-Buying centeroIdentify participants involved in purchase decision-Users-Influences-Deciders-Buyers-GatekeepersStep 3: ( Approach customers & and probe needs)-Do your homework before meeting customersoProspect's website, SM site Etc.-Needs assessment oCreate customer profileoNeed/problem/interest-Get commitment from the customer to some kind of actionStep 4: ( develop & propose solutions-Sales proposal-Sales presentationsCompetitive advantage-How are you different than your competitors?-Are you?oUnique oConvincingoRelevantoMemorable oSignificantStep 5: (objections)-Rarely does a prospect say " I'll buy it" right after a presentationObjection-Concerns raised by consumers-Salespeople should do:oAnticipate objectionsoOvercome objectionsoUnderstand objectionsoAnswer sincerelyoRefrain from arguingoPrepare --> prepare --> prepareCustomers objections-" I can't afford it."-"I am satisfied with my personal model"-"the quality doesn't look good"Most common objections-People are reluctant to spend money-There is always seems to be supplier willing to undercut-All ( if not very close to all) customers are connected about priceAddressing High prices Objection-" our product/service cost more but you get better-Packaging -Warranty-Service and sales -Quality-Perf-Brand-OtherSteps 6: (closing the sales)-Effective sales presentationoCompleteness- can you speak to every aspect of your product?oElimination of competition- does the customers see your product as the best one to solve the problem?oClarity- is there any confusion in the customer's mind?oCustomers confidence-Are your statements accurate?-CanStep 7: ( following up)-Final step in the selling process-Ensures delivery schedules are met ,goods or services perform as