MARK 3337 Professional Selling Chapter 14

What factors are crucial when confirming partnership

1. All of the options 2. Reduce buyer remorse 3. Reassure the buyer 4. Confirm the sale and partnership

Direct appeal close

Involves simply asking for the order in a straightforward manner. It is the most direct closing approach.

Management close

Involving the sales manager or a senior executive to assist with the close

In lecture video 14, Professor Ahearne suggests which one of the following questions to ask lastly from an employer in a job interview to positively improve your chance for getting hired?

Is there any reason in your mind that I am not an ideal fit for this position

Dealing with loss

Learn to manage disappointment When a sale is lost: Make sure the deal is really dead Review chain of events Interview the client. Obtain feedback

Special Concession Close

Offers the buyer something extra for acting immediately.

Confirmation step

Reassuring the customer after the sale has been closed, pointing out that he has made the correct decision. This may involve describing the satisfaction of owning the product.

Impending event close (Positive/negative technique)

Refers to making positive use of a negative point.

Incremental commitment

When working on a large, complex sale, some form of commitment should be obtained during each step in the multicall sales presentation.

Closing call

is an indication, either verbal or nonverbal, that the prospect is preparing to make a buying decision

Confirmation step

-Reassure customer -Confirm sale and partnership -Reduce buyer's remorse—forms of regret, fear, anxiety about sale -Compliment buyer on wise decision -Thank customer for order

Buyer anxieties

1. Loss of options 2. Fear of making a mistake 3. Social or peer pressures

Planning for close

1. Review possible barriers to closing the sale 2. Review closing guidelines 3. Prepare several closing methods 4. Plan to ask for the order more than once 5. Practice closing

Competition

1. Some buyers want to look at competitors 2. Do everything to help customer make an intelligent comparison 3. Review your products strong points 4. Make it easy for rebuy

Closing methods (closing the sale)

1. Trial close 2. Direct 3. Assumptive 4. Summary of benefits 5. Multiple options 6. Special concession 7. Balance sheet close 8. Management close 9. Impending event close 10. Combination close

Assumptive close

After the salesperson identifies a genuine need, presents solutions in terms of buyer benefits, conducts an effective sales demonstration, and negotiates buyer resistance satisfactorily, the assumption is that the prospect has already bought the product. The closing activity is based on the assumption that a buying decision has already been made.

What non verbal signals might indicate the initiation of negotiation close?

Examining product literature intently

Which type of closing approach does the quote represent? "just to highlight the advantage of our partnership - our software solution streamlines your workflow, significantly reduces processing time, and comes with 24/7 customer support. We're committed to your success and offer a money back guarantee if you're not satisfied within the first 3 months. Can we proceed with this partnership?"

Summary benefits approach

The jam jar video shows that customers can simply make their buying decisions if the number of options is limited rather than numerous

True

Trial close

a closing attempt made at an opportune time during the sales presentation to encourage the customer to reveal readiness or unwillingness to buy

Multiple Options Close

allow the person to examine several different options, and try to assess the degree of interest in each one

Buyer's remorse

an emotional response that can take various forms such as feelings of regret, fear, or anxiety

Balance Sheet Close

appeals to customers who are having difficulty making a decision even though they have been given plenty of information. The sales person draws a T on a sheet of paper and places the captions on each side of the crossbar

Summary of benefits close

involves summarizing the most important buyer benefits, reemphasizing the benefits that will help bring about a favorable decision