POPS Ch 6+7 Quiz

Info needed in most selling situations

- Company culture and organization - Company support for product

Key question areas to engage the customer and identify the problem:

- Product Questions - Company Questions - Salesperson Questions

Sources of Information

- Web-based sources, catalogs, and marketing-related sales support information - Plant tours - Internal sales and sales support team members - Using the products - Read and study publications

Solution

A mutually shared answer to a recognized customer problem

Product Knowledge

A top ranked characteristic of salespeople who are able to build trust with customers

Product Strategy

A well-conceived plan that emphasizes becoming a product expert, selling specific benefits, and configuring value-added solutions. It helps make correct decisions concerning the selection and positioning of products to meet identified customer needs.

Today's Salesperson

Acts as a partner - more courteous and trustworthy - more knowledgeable - more understanding of customers - provides service after sale

Today's company

Acts as a team to provide - delivery and installation - orientation and training - quick response times - credit options - customer service

Key challenge with customers

Building trust

Dimensions of Service Quality

Customers judge the quality of each service transaction based on these five quality dimensions: 1.Tangibles 2.Reliability 3.Responsiveness 4.Assurance 5.Empathy

Product

Encompasses information, services, ideas, tangible products, or some combination of these that satisfy the customer's needs with the right solution.

Team Communication

Excellent and thoughtful communication is vital for teams who work together

FAB otherwise

Features - Attributes Advantages - What they do Benefits - Personal Gain

Product Configuration

If the customer has complex buying needs, the salesperson may have to develop a custom-fitted solution that brings together different many parts of the product mix.

Team Building Benefits

Increased communication Planning skills Employee motivation Employee collaboration

Today's product

Meets and exceeds expectations. - Better quality - Larger selection - New-product improvements

Product Positioning

Positioning involves those decisions and activities intended to create and maintain a certain concept of the product in the customer's mind. - It requires developing a sales and marketing strategy aimed at influencing how a particular market segment perceives a product in comparison to the competition. - must be continually configured and custom fitted by the salesperson to match each customer's specific wants and needs.

Customers seek out..

Product experts who can assist them in making intelligent buying decisions

Services of differentiation

Quality Price Convenience Economy Service Other factors

Quantifying the Value Proposition

Quantifying the value proposition is important in many situations, especially when the customer is a business buyer (B2B). - raises customers' comprehension level as they discover the merits of buying your product or service. - requires communicating how your solution will impact business results, such as providing increased reliability or lower maintenance costs.

Major Element of Product Configuration

Quotation Management

Selling Solution vs Product

Requires a greater effort to define and diagnose the customer problem.

Solution Sales Process

Salesperson... - Uncovers and clarifies a customer's problem - Works with the customer to create a vision of how things could be better - Collaborates with the customer to develop a plan for implementing the vision

Feature-Advantage-Benefit Strategy

Successful sales presentations create value by translating product features into benefits that meet a specific need expressed by the customer. - Features include data, facts, and characteristics of a product or service. - Advantages include what the features do better than the competition - Benefits include whatever provides a customer with a personal advantage or gain, which can be general or specific.

Team Building

The process of creating a team that cohesively works together towards a common goal

Product Positioning Options

The salesperson can use various product positioning strategies to differentiate the value proposition. Position: 1.new and emerging products versus well-established products 2.Position products with value-added strategies

Value Proposition

The set of benefits and values the salesperson configures to meet and exceed customers' specific needs.

Importance/main purpose of Team Building

To create a strong team through forming bonds and connections.

Differentiation

Your ability to separate yourself, your product, and/or your company from that of your competitors...the key to a competitive advantage.

New and Emerging Products product-selling strategy

develop new levels of expectations change habits establish new standards build desire for product focus on creating new markets

Mature and Well-Established Products product-selling strategy

emphasize brand superiority emphasize company superiority point out unique features product outstanding service focus on sustaining existing market share

Sales solution

more than a specific product... it often provides measurable results such as greater productivity, increased profits, or less employee turnover.