Steps of the Sale

Feature

A fact or characteristic of the product

Benefit

An advantage consumers receive from using a product

Salespeople should translate product features into ______ to be derived from purchasing the product

Benefits

A real estate agent says, "This is the only house in the neighborhood that has a swimming pool. May I make an appointment to discuss closing costs?"

Closing the Sale

Lawrence is interested in buying a new car. He wants one that is easy to drive and economical.

Discovering Needs and Wants

A salesperson says to a customer, "How are you today, Mr. Miller?"

Establishing Relationships

Services

Intangible activities that are performed by other people for money; productive acts that satisfy economic wants

An industrial-equipment salesperson goes to a training class to learn as much as possible about the products s/he will be selling.

Preparing to Sell

An insurance salesperson spends time researching potential customers for a certain type of life-insurance policy.

Preparing to sell

A customer has stated that she wants to buy luggage that is easy to handle. The salesperson says, "This piece of luggage also has recessed wheels, which means that you can pull the luggage easily for long distances without getting tired."

Presenting solutions to needs and wants

A salesperson carefully removes a watch from a display case to show it to a customer. The watch is then gently placed in the customer's hands.

Presenting solutions to needs/wants

During the demonstration of an iPad, a customer told the salesperson, "It looks too complicated—I don't believe I could learn how to use it."

Reaching Closure

Selling

Responding to consumer needs and wants through planned, personalized communication in order to influence purchase decisions and ensure satisfaction

Goods

Tangible objects that can be manufactured or produced for resale

Preparing to sell

a. Acquire as much information as possible about the product(s). b. Identify product features and benefits. c. Generate sales leads. d. Qualify sales leads. e. Prepare sales presentation(s).

Establishing Relationships with the Customers

a. Determine what buying decisions a customer has made. b. Help the customer feel comfortable. c. Size up the customer. d. Tailor approach to specific customer.

Closing the Sale

a. Identify customer resistance. b. Listen to the customer's point of view to identify the real objection. c. Restate the objection to be sure that you understand it. d. Don't argue with the customer. e. Review the buyer benefits. f. Close the sale. g. Complete all paper work.

Presenting Solutions to needs and wants

a. Translate product features into customer benefits. b. Show a limited number of products to avoid confusion. c. Select items that can help to define customers' specific needs/wants. d. Concentrate on the main item of interest to close the sale. e. Show the customer how the product operates.

Determining needs and wants

a. Use skillful questioning. b. Listen carefully. c. Observe customer reactions. d. Analyze customer reactions.

Reaffirming Buyer-Seller Relationships

a.Reassure the customer that his/her choice was wise. b. Use suggestion selling. c. Answer any lingering questions. d. Explain the sales contract fully. e. Check on or be present when the product is delivered. f. Supervise installation or adjustment of the product. g. Train the customer's personnel in the use or sale of the product. h. Call or contact the customer later to ensure s/he is satisfied.