The Sales Process Chapter 14.1 & 14.2

1. The Sales ProcessChapter 14.1 & 14.2 Chapter 14.1 and 14.2 Steps 4 and 5

2. Step Four: Presenting the Product • The step of the sales processes where you can share your expertise with the customer Which product do you show? – after the approach stage you should have learned enough about the customer to determine which products will best meet their needs For a customer who wants a camera for professional use For an inexperienced customer who is looking for their first digital camera

3. Step Four: Presenting the Product What price range should you offer? • If you have not determined the customers price range, you should start your presentation with a mid priced item • Don’t introduce price right away unless it is a major selling point – you need to show them the value in the product first • If you present the product and they decided they must have it, price becomes less important

4. Step Four: Presenting the Product How many products should you show? • To avoid overwhelming the customer never show more than 3 options • It is difficult to remember the features of more than 3 products • If the customer wants to see more, eliminate one before adding another

5. Tips for Effective Product Presentation Display and Handle the Product • How the product appears to the customer is important • Always handle the product with respect and care

6. Tips for Effective Product Presentation Demonstrate • Show the customer how the product works • Show the product in use

7. Tips for Effective Product Presentation Involve the Customer • Let the customer try (experience) the product • Give away free samples • Encourage the use of one or more of the five senses • Car sales – test drive

8. What do you say? • Talk about the product’s features and benefits • Use descriptive adjectives • Avoid unclear words like fine, nice, pretty • Avoid slang and words with double meaning • Use Layman’s Terms: words the average person understands

9. Use Sales Aids • Samples • Reprints of articles • Audio-visual aids • Models • Photographs • Drawings • Charts • Specification sheets • Customer testimonials • Warranty information

10. Step Five: Objections • Objections: concerns, doubts, hesitations or other reasons a customer has for not making a purchase • Should be viewed as a positive because they allow you a chance to present more product information • Being prepared for objections will help you feel more confident

11. Step Five: Objections • They can come in the form of a question or a statement • “Do you have any other products to choose from?” • “These shoes are not the right color.” • Excuses: reasons for not buying a product • Often used when a customer is not in the mood to buy or are hiding their objections

12. Objections vs. Excuses Objections Excuses • “I don’t really need another coat.” • “I can’t wear this dress to work.” • “This is much too expensive.” • “I’m just looking.” • “I‘ll have to talk to my wife about purchasing it.” • “I didn’t bring my money with me today.”

13. Common Objections Most objections fall into four categories • Need • usually occurs when the customer doesn’t have an immediate need for the product or they want the product but they don’t need it • “I want these sandals but I don’t need another pair.” • Product • Objections based on the product itself (more common) • Concerns about construction, ease of use, quality, color, size or style • “I don’t like 100% cotton shirts because you have to iron them.”

14. Common Objections • Source • Objections based on source often occur because of negative past experiences with the company or brand • Happens most often in business to business sales • “The last time I ordered from your company, I received it two weeks after the promised date.” • Price • Objections based on the cost of the product • “That is more than I wanted to spend.”

15. Four-Steps for Handling Objections • Listen Carefully – be attentive, make eye-contact, let customer talk • Acknowledge the objection – demonstrates that you understand and care about their concerns • “I see your point.” • “Others have asked the same question.” • Restate the objection – to ensure you understand their objection • Don’t restate word for word - paraphrase • Answer the objection – try and find a solution

16. 7 Methods for Handling Objections • Substitution – recommending a different product that would better suit the customer’s needs • Boomerang – bring the objection back to the customer Salesperson: “ The gloves are so light because of an insulation material called Thinsulate. The manufacturer guarantees that it will keep you warmer than fiberfill insulation, without the bulk and extra weight.” Customer: “These gloves are so lightweight. They can’t possibly keep me warm.”

17. 7 Methods for Handling Objections 3. Question – ask the customer more questions to learn more about their objection 4. Superior Point – acknowledge objections as valid yet offset them with product features and benefits 5. Denial – use when customer’s objection is based on misinformation • Be prepared to provide proof to back you up

18. 7 Methods for Handling Objections 6. Demonstration – show the customer how it works • Seeing is believing 7. Third party – using previous customer’s or another neutral party who gave testimonial about the product

19. Infomercials • Good Morning America Infomercial • Testing Infomercials Hawaii Chair Shake Weight Tiddy Bear Snuggie Shamwow Slap Chop

20. Assignment Chapter 14 Bookwork 14.1 – pg. 300 – Key Terms and Concepts…..(1-3) 14.2 – pg. 307 – Key Terms and Concepts…..(1-3) Chapter Review – Review Facts and Ideas…..(2-11) You will be held responsible for all the red dot terms for the test