MARKETING I

SELLING

WHAT IS SELLING?

•Any form of direct contact between a salesperson and a customer.•Two-way communication!•Salesperson is knowledgeable and helps lead the customer to an informed and satisfactory buying decision

TYPES OF SELLING

•Retail Selling- sales process takes place with final user or consumer- customer often comes to a store

•Business to Business- sales process takes place in business office- customer is a business who will use the product for re-sale OR as part of their business operation

IMPORTANCE OF CUSTOMER SERVICE IN SELLING

•Part of selling process•Creates loyalty and repeat sales• Instills confidence in mind of customer•Generates more business through referrals• Increases likelihood of making the sale

CUSTOMER BUYING MOTIVES

• Rational Buying Motive- concerned with convenience, safety, savings, durability, and quality

• Emotional Buying Motive- appearance, social status, image, guilt, and fear

• Patronage Buying Motive- services, policy, brand loyalty, ambiance, personnel, and location

STEPS OF A SALE

1. Pre-Approach

2. Approach

3. Determine Needs

4. Present Product (Features and Benefits)

5. Handle Objections

6. Closing the Sale

7. Suggestion Selling

8. Relationship Building

SALES PROCESS

1 Pre-Approach- developing product knowledge and/or prospecting (looking for new customers)

2 Approach- Greet customer face to face; sets the mood or atmosphere for the rest of the steps of the sale; establish a relationship

3 Determine Need- uncover the customer’s reason for wanting to buy; Observe non-verbal clues; Listen; Ask open ended questions

SALES PROCESS

4 Presenting the Product- apply information gathered when determining needs; deliver a “show and tell” about the product that emphasizes the features of the products and the benefit that the features provide to the customerUse FAB Approach- Features, Advantages, and Benefits  5 Overcome Objections- objections can occur any time during the presentation; use objections to help refine and understand the customer’s needs; Use the following process to successfully overcome objections: 

Listen Acknowledge the Objection Restate the Objection and then Answer the Objection 

SALES PROCESS

6 Closing the Sale-obtaining an agreement to buy from the customer; Recognize when the customer is ready to buy; look for buying signals including facial expressions, body language, and comments.

Consider the following types of closes:•Standing Room Only- used when product is in short supply•Direct Close- ask for the sale- use this technique only when the situation honestly calls for it•Service Close-offer services that may accompany the product and will overcome an objection- such as “return policy allows for return if not satisfied” 

SALES PROCESS

7 Suggestion Selling-selling additional goods or services to the customer; usually product that compliments or goes with the item being purchased (computer paper for a laser printer)

8 Relationship Building- keeping customers satisfied; building loyalty; developing relationship

FINAL PROJECT-MARKETING I

• Students will complete the exam project individually• Assignment: • You will select a unique product / new

innovation to sell to the class. • Your job as a salesperson is to follow ALL of the

steps in the sales process. • Select a product that has unique features and

benefits that you can clearly demonstrate to the class and apply FAB• You will research and gain product knowledge

regarding your selected product and then prepare to apply the complete sales process

FINAL PROJECT-MARKETING I CONTINUED

Prepare a PPT presentation with the following: Introductory Slide Agenda Slide Product Overview with prototype of the product FAB Chart Identify and explain the buying motive that would most likely apply to this product Identify each step of the sales process and how you would present your product to a potential customerConclusion Slide

FINAL EXAM

• Seniors who are exempt from final exam will complete the project and then turn it in by June 3, 2015. 100 Points

• Underclassmen will present their PPT presentation as their FINAL EXAM on their scheduled exam day.100 Points and the Exam counts as 20% of grade