Mktg 430 Study Guide

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MKTG 430 Exam 3 Study Guide
Chapter 11
Presentation: Prescriptions = Determine prospect needs, Select solution, Initiate sales presentation. * It’s all about improving your questioning skills.
Types of Questions: Survey, Probing, Confirmation, Need-satisfaction. * P3 (Problem, Pain, Pleasure) Questions.
Survey Questions: Problem Questions: Questions revealing problems. * Information gathering questions designated to obtain knowledge. * General survey questions
* Specific survey questions
* Not to be used for factual information one could acquire from other sources prior to the sales call. * Obtain more information about the problem of the buyer. Probing Questions: Pain Questions: Questions revealing pain. * Help to uncover and clarify the prospect’s buying problem and circumstances. * Are referred to as implication or pain questions and used more frequently in large, complex sales. * Help the salesperson and customer gain a mutual understanding of why a problem is important. * Help the buyer understand what the significance of their problem is. Need-satisfaction Questions: Pleasure Questions: Questions revealing pleasure. * Designed to move the sales process toward commitment and action. * Focus on specific benefits.

* Are powerful because they build desire for the solution and give ownership of the solution to the prospect. * Makes the buyer feel good about your offer.
Confirmation Questions: Questions revealing mutual understanding. * Verify accuracy and assure a mutual understanding of information exchanged. * Summary-confirmation questions.
* Buying conditions are those qualifications that must be available or fulfilled before the sale can be closed. Listening and Acknowledging
* Develop active listening skills
* Focus your full attention
* Paraphrase the customer’s meaning
* Take notes
Informative Presentation Strategy
* Emphasizes facts
* Commonly used to introduce new products and services
* Stress clarity, simplicity, and directness
* Less is more beware of information overload.
Persuasive Presentation Strategy
* To influence the prospect’s beliefs, attitudes, or behavior and to encourage buyer action. * Used when a need is identified
* Subtle seller transition from rational to emotional appeals * Requires training and experience to be effective.
Reminder Presentation Strategy
* Also known as “reinforcement presentations”
* Maintains product awareness
* Good when working with repeat customers
* Sometimes a dimension of service after the sale

Chapter 12
Demonstration: Prescriptions = Decide what to demonstrate, Select selling tools, Initiate demonstration. * Demonstration is showing what a product can do and how it can benefit the prospect. How the Sales Demonstration Adds Value

* Adds sensory appeal
* Attracts customer Attention
* Stimulates Interest
* Creates Desire for product
* Action
Benefits of Demonstration
* Improved communication and retention
* Proof of buyer benefits
* Proof Devices (reports, testimonials, data, photos, etc.) * Quantifying the solution
* Value proposition revisited
Guidelines for Demonstrations that Add Value
* Cover one idea at a time and confirm agreement
* Appeal to all senses
* Balance telling, showing, and involvement
* Rehearse the demonstration
Cover one Idea at a Time
* Demonstrate one idea or feature at a time
* Make sure customer understands each before moving on, pace evenly. * Make customer part of every step
Appeal to all senses
* Try to involve all five senses
* Multi-sensory appeals help involve prospect and build desire for the product Balance Telling, Showing, and Involvement
* Develop demonstration worksheet
* Demonstrations should be balance and have variety use worksheet to prepare * Try to give prospect “hands on” experience
* A Chinese...
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