building partnering relationships
TRANSCRIPT
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2009 The McGraw-Hill Companies, Inc. All rights reserved.
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BUILDING PARTNERING RELATIONSHIPS
What differenttypes of relationships exist between buyersand sellers?
When is eachtype of relationshipappropriate?
Whatare the characteristics of successful partnerships?
Whatare the benefits and risks in partnering relationships? How do relationships develop overtime?
Whatare the responsibilities of salespeople in partnerships?
SOME QUESTIONS ANSWERED IN THIS CHAPTER ARE:
2-2McGraw-Hill/Irwin
chapter2
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Clients want to know that you have the ability
to relate to them on a personal level and that
earning your commission is not the most
important factor driving your willingness towork with them.
~John L. Peteet
Metropolitan Realty
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The Evolution of Personal Selling
Buying on the Internet
Buyers have needs thatare
met by:
The product
The selling process
Buyers buyto also make a
________
Salespeople orientations
Partnering orientation
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Value = selling price (cost + time and effort)
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The Evolution of Personal Selling
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Relationships and Selling
Relationship
marketing
Loyalty
Behavioral
Attitudinal
Lifetime
customer value
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Behavioral loyaltyrefers to thepurchase ofthesame product fromthe same vendorovertime.
Attitudinal loyalty
is an emotionalattachmentto abrand, company, orsalesperson.
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Solo exchanges
No future business
Bothparties pursue their own self
interest
Functional relationships
________ market exchanges
Behavior loyalty
Previous purchase influences next
purchase
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Market Exchanges
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Relational partnerships Buyerand sellerhave aclose personal
relationship
Buyerand sellerwork togetherto solveproblems
Trust
Strategicpartnerships Long-term relationships
Partner organizations make significantinvestments to improve the profitability of bothparties
Uncoverand exploit joint opportunities
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Partnerships
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Types of Relationships Between Buyers
and Sellers
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Making contact
Find someone to listen
Make small talk
Ingratiate (gain favor)and build support
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Market Exchange Selling
McGraw-Hill/Irwin
Goal: Making a sale
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Closing the sale delivera sales pitchto:
Getthe prospects attention Create interest
Build desire
Getthe prospectto take action
Stayalert forclosing signals Use trial closes
Overcome objections
Close ________and ________
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Market Exchange Selling (continued)
McGraw-Hill/Irwin
Goal: Making a sale
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Following through
Reestablishcontact
Resell self, company, and products
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Market Exchange Selling (continued)
McGraw-Hill/Irwin
Goal: Making a sale
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Initiating the relationship
Engage in ________ prospecting andqualifying
Gatherand studypre-call information
Identify buying influences
Plan the initial sales call
Demonstrate an understanding ofthecustomers needs
Identify opportunities to build a relationship
Illustrate the value ofa relationshipwiththecustomer
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Long-Term Relationship Selling
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Goal: Building________
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Developing the relationship
Selectan appropriate offering
Customize the relationship
Link the solution to the customers________
Discuss customerconcerns
Summarize the solution to confirmbenefits
Secure commitment2-14
Long-Term Relationship Selling
(continued)
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Goal: Building trust
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Enhancing the relationship
Assess customer satisfaction
Take actions to ensure satisfaction
Maintain open, two-waycommunications
Expand collaborative involvement
Work to add value and enhance mutual
opportunities
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Long-Term Relationship Selling
(continued)
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Goal: Building trust
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Foundations of Successful
Relationships
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Dependability
Living upto promises
made
Competence
Demonstrated
knowledge ofthe
customer, the product,the industryand the
competition
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Characteristics of Successful
Partnerships Mutual Trust
McGraw-Hill/Irwin
Trust is a belief by one
partythatthe otherpartywill fulfill its ________ ina relationship.
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Customer orientation
Putcustomer needs first
Honesty Truthfulness, sincerity,
being candid
Likeability
Least importantcomponent
oftrust
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Characteristics of Successful
Partnerships Mutual Trust (continued)
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Key building block for building
successful relationships
Listen, listen, listen
Very importantwhen there is conflict
Type ofpartnerships determines
openness ofcommunication
Be aware ofcultural differences
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Characteristics of Successful
Partnerships Open Communication
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Keyto a successful relationship
Helps partners focus on opportunities
Helps sustain the partnership ________ goals are critical
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Characteristics of Successful
Partnerships Common Goals
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Commitmentto mutual gain
Mutual investment
Organizational support Structure and culture
Training
Rewards
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Characteristics of Successful
Partnerships (continued)
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Awareness Salespeople
locate and qualifyprospects; buyers
identify sources ofsupply
Exploration Bothparties may
explore thepotential benefitsand costs ofapartnership
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Phases of Relationship Development
McGraw-Hill/Irwin
Supplier relationshipmanagement (SRM) isthe use oftechnologyand
statistics to identifyimportant suppliers andopportunities forcostreduction, greaterefficiency, and otherbenefits.
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Expansion
Bothparties investigate the benefits ofa
long-term relationship
Commitment
The customerand seller ________ to
continue the relationship foraperiod of
time Dissolution
Process ofterminating the relationship
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Phases of Relationship Development
(continued)
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Choosing the Right Relationship
Size
Access and image
Access to innovation
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Using Technology to Increase Efficiency
Using technologyto drive two key
areas of salesperson performance
Knowledge managementtechnology Relational managementtechnology
Create direct links withcustomers
and suppliers
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Businesses are moving toward partneringstrategies.
Functional relationships and strategicpartnerships are characterized bya mutual
concern of eachparty forthe long-runwelfare ofthe otherparty.
Mutual trust, open communication,common goals, acommitmentto mutualgain, and organizational supportare keyingredients in successful relationships.
Customers trust salespeople who aredependable, capable, and concerned aboutthe customers welfare.
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Summary
McGraw-Hill/Irwin