Chapter 13 Quiz

_______ is one of the biggest obstacles sales people have to conquer

Price objection

In analyzing each buyer concern, the salesperson should try to determine which method can be most effective. In most cases, the salesperson can use:

a combination of methods

In the eyes of most customers, value is more important than price. Always try to position your product with:

a convincing value proposition

Studies indicate that the favorable testimony of _____ can be an effective method of responding to buyer resistance.

a neutral third party

The best time to deal with price is ______

after you have reviewed product features and buyer benefits

The concept of finding "what alternative(s) will be acceptable to you if your negotiation does not succeed" is called :

best alternative to negotiated agreement or BATNA

One way to clarify price concerns is:

by asking questions to determine what the customer is thinking

The "sell low now, make profits later" approach:

can create value for both you and your customer because it might be a way of gaining a foothold in your buyer's business

Buyers sometimes use the "take-it-or-leave-it" tactic. An alternative strategy to counter this tactic is to:

confidently review the superior benefits of your product and make another closing attempt

Resistance to time is often referred to as stalling. A stall usually means the customer____

does not yet perceive the benefits of buying now

Today's customers are well informed and might want to ____ early in the sales process.

engage in negotiations

The challenge a salesperson faces in almost every negotiation is to sell products and services based on ______, not on price.

fair and unique value propositions

If you are calling on business prospects, the way to overcome need resistance is to prove your product:

is a good investment

Concerns about the product or service often become the focal point of buyer resistance. Two common factors influencing the buyer's attitude are that the product or service:

is not well established or the current product or service is satisfactory

Buyers will also use the "let-us-split-the-difference" tactic. If the buyer's suggestion is not acceptable, then you might:

make a counteroffer

The consequence of the use of the "if...then" tactic could be serious. If the buyer does have a number of options that offer the same benefits as yours, then the salesperson:

might have to concede

The great majority of buyer concerns fall into five categories. Those categories are ____

need, product, source, time, and price

"Do unto others as they want to be done unto" is an application of the ______ rule of negotiating.

platinum

Negotiations can happen at any stage of the sales process, but in most cases the most important negotiations will take place during the _______ stage of the buying process

resolution of problems

To help overcome price concerns, salespersons need to direct the customer's attention to:

the value-added features of your product or service

Many _____ buyers are primarily interested in price and convenience during negotiations, so consider eliminating features that contribute to a higher selling price.

transactional

A salesperson might attempt to turn the objection into a(n) _____ by concluding the sale without prejudicing the opportunity to continue the selling process with the buyer should he or she refuse to commit

trial close

One strategy to use with buyers who use the "budget limitation tactic" us to:

use unbundling by eliminating some items to reduce the price

The definition of negotiation is ______

working to reach an agreement that is mutually satisfactory to both buyer and seller

A second important negotiation planning tool, _______, is defined as the space between the seller's walk-away point and the buyer's highest willingness to pay.

zone of possible agreement or ZOPA