HC BUSN 134 - FUNDAMENTALS OF SELLING

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4 1 The Psychology of Selling Why People Buy McGraw Hill Irwin Chapter 4 Copyright 2006 by The McGraw Hill Companies Inc All rights reser Chapter 4 4 3 Main Topics The Tree of Business Life Benefits Why People Buy The Black Box Approach Psychological Influences on Buying A FABulous Approach to Buyer Need Satisfaction How to Determine Important Buying Needs a Key to Success The Trial Close a Great Way to Uncover Needs and SELL SELL Sequence Your Buyer s Perception Chapter 4 4 4 Main Topics Perceptions Attitudes and Beliefs The Buyer s Personality Should Be Considered Adaptive Selling Based on Buyer s Style You Can Classify Buying Situations Technology Provides Information Viewing Buyers as Decision Makers Satisfied Customers Are Easier to Sell to To Buy or Not To Buy a Choice Decision Chapter 4 4 5 The Tree of Business Life Benefits Guided by The Golden Rule Rule emphasize benefits to improve your Communication Skills Ability to unselfishly help a person make the correct buying decision True e vic Et hic al r Se T T T T T TT T T T T Builds Relationships T I C 4 6 Exhibit 4 1 Why People Buy The Black Box Approach Internalization process is referred to as a black box We cannot see into the buyer s mind Stimulus response model Sales Presentation Buyer s Hidden Mental Process Sale No Sale Stimulus Black box Response Exhibit 4 1 Stimulus response model of buyer behavior 4 7 What s Known About Mental Process People buy for practical and emotional reasons Some of a person s thoughts can be determined Buyers consider certain factors in making purchase decisions 4 8 Psychological Influences on Buying Motivation to buy must be there Needs result from a lack of something desirable Wants are needs learned by the person Economic needs The best value for the money The buyer s need to purchase the most satisfying product for the money 4 9 Psychological Influences on Buying cont Awareness of needs Some buyers are unsure Conscious need level Preconscious need level Unconscious need level 4 10 A FABulous Approach to Buyer Need Satisfaction Stressing benefits is a very powerful selling technique FAB selling technique helps emphasize benefit Feature Advantage B enefit 4 11 The Product s Features So What Feature a physical characteristic Many salespeople emphasize features Examples Size Color Price Shape 4 12 The Product s Advantages Prove It Advantage a performance characteristic The chances of making a sale are increased by describing the product s advantages How a product can be used How a product will help the buyer Examples Fastest selling Store more information Copy on both sides of the paper 4 13 The Product s Benefits What s in it for Me Benefit a result of advantage People are interested in what the product will do for them Benefits can be both practical and psychological Benefits should be specific statements not generalizations Emphasizing benefits increases sales 4 14 Why Does Someone Buy These Items Diamond ring Camera film STP motor oil Baseball tickets 4 15 People Buy the Product s Benefits Such as Diamond ring images of success investment to please a loved one Camera film memories of places friends and family STP motor oil engine protection car investment or peace of mind Baseball tickets entertainment escape from reality or relaxation 4 16 People Buy Benefit s Not a product s feature s Not a product s advantage s 4 17 People Buy Benefit s Notice national television commercials They stress benefits Advertisers know this helps sell the product 4 18 People Buy Benefit s High performing salespeople stress benefits They know this increases their chances of making the sale and helping someone 4 19 What s In It For Me Stressing benefits in the sales presentation answers the prospect s question What s in it for me 4 20 Can Not Leave Out Features and Advantages In the sales presentation it is also important to mention features and advantages Here is an example of how to stress a benefit while including a feature and an advantage 4 21 Example Sporting Goods Salesperson to Customer With this ball you ll get an extra 10 to 20 yards on your drives advantage helping to reduce your score benefit because of its new solid core feature 4 22 FABs Can Be Awkward at First New salespeople are frequently not accustomed to using feature advantage and benefit phrases It may seem awkward at first 4 23 Use Your FABs Feature Physical Characteristic Buyer thinks So What Advantage Performance Characteristic Buyer thinks Prove It Benefit Favorable result from advantage Benefits are what people buy You can have a benefit of a benefit or a FABB 4 24 Use the FAB Sequence The standardized FAB Sequence can be used as follows The feature means you advantage with the real benefit to you being benefit Note how a benefit is emphasized Pick a product Insert a FAB of the product into the above sequence Put in your own words Try it It works 4 25 Let s Review FABs Which of the following is a feature advantage or benefit 1 F Made of pure vinyl 2 B Gives 20 more miles to the gallon 3 F New 4 A Lasts twice as long 5 B Saves time work and money 4 26 Let s Review FABs Blade changing is quick advantage and easy benefit with this saw because it has a push button blade release feature 4 27 Let s Review FABs The king size feature will bring you additional profits benefit because it is the fastest growing advantage and more economical size feature 4 28 Let s Review FABs For long wear advantage and savings on your clothing costs benefit you can t beat these slacks All the seams are double stitched feature and the material is 100 Dacron feature 4 29 The Salesperson Needs to be a Detective Given that people make a buying decision based on whether they believe a product s benefits will satisfy their needs how can you uncover a buyer s needs 4 30 How to Determine Important Buying Needs A Key to Success L O C A T E Listen Observe Combine Ask questions T alk to others Empathize 4 31 Exhibit 4 4 Match Buyer s Needs to Product s Benefits and Emphasize Them in the Sales Presentation Important Seller emphasize Important Needs Benefits Unimportant de emphasize 4 32 Unimportant Buyer The Trial Close a Great Way to Uncover Needs and Sell The trial close asks for an opinion not a decision to buy It gives feedback The trial close is one of the best communication techniques in the sales presentation 4 33 The Trial Close Helps You to Determine Whether the prospect likes your product s features advantages or benefits Whether you have successfully


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HC BUSN 134 - FUNDAMENTALS OF SELLING

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