Used when there has been little or no previous experience with an infrequently purchased item

Presentation on theme: "Marketing Ch 13 What is Selling?. Knowing your product and your customer Selling – Helping customers make satisfying buying decisions – Do this by communicating."— Presentation transcript:

1 Marketing Ch 13 What is Selling?

2 Knowing your product and your customer Selling – Helping customers make satisfying buying decisions – Do this by communicating how products and their features match customers needs and wants

3 Why do we want customer satisfaction We want repeat customers

4 Goal of selling 1.Help customers decide on purchase 2.Ensure customers are satisfied and become return customers

5 Feature-Benefit Selling Process of matching the features of each product to a customer’s wants and needs Two types 1.Product Features 2.Customer Benefits

6 Product Features Salesperson needs to learn how a product features will benefit the customer. Product Feature – Physical characteristics or quality of a good or service that explains what it is. Most basic feature is its intended use

7 Tangible Product Features Certain qualities in the product that differentiates competing brands and models Physical characteristics of the product – Examples in a car Color Automatic Transmission Stereo Anti-lock breaks

8 Tangible Product Features Additional features add value to a product Physical features help provide the reason for price difference among product models

9 Extended product features Not always physical part of the product but they are important to the purchase decision Example: – Warranties – Service Policy – Available financing – Reputation of Company

10 Customer Benefits Advantages or personal satisfaction a customer will get from a good or service A salesperson will need to answer two questions about each product feature: 1.How does the feature help the product’s performance? 2.How does the performance information give the customer a personal reason to buy the product? What value is it to the customer

11 Product Information Product knowledge is essential for success in selling. Knowing about product helps explain why one product is better than another Know how to use (demonstrating) and care for a product is essential when educating consumers

12 Customer Buying Motives What motivates people to buy a product Is their motive Rational or Emotional

13 Rational Motive Conscious, factual reason for buying – Include: Product Dependability Time or Monetary Savings Convenience Comfort Health or Safety Considerations Recreational Value Service Quality

14 Emotional Motive Feeling experienced through association with a product – Social approval – Recognition – Power – Love – Affection – Prestige

15 Motives Both rational and emotional motives can present in the same purchase

16 Customer Decision Making Three distinct types of decision making 1.Extensive 2.Limited 3.Routine

17 Extensive Decision Making Used when there has been little or no previous experience with the item because it is infrequently purchased High degree of risk and very expensive Examples – Expensive Machinery – Land for a new building site – First home

18 Limited Decision Making Used when a person buys goods and services that he or she has purchased before but not on a regular basis. Moderate degree of risk Examples: – Second car – Furniture – Vacation – Household appliances

19 Routine Decision Making Used when a person needs little information about a product because of a high degree of prior experience Low degree of risk Customer have develop brand loyalty

20 Is Selling the Career for You? Type of Sales positions – Retail Sales Sales Associates – Know their products and how to sell Salesclerks – Simply order takers or cashiers Sales Representatives – Extensive Training and product knowledge

21 Is Selling the Career for You? Type of Sales positions – Retail Sales Sales Associates Salesclerks Sales Representatives Telemarketing

22 Sales Associate Expected to know their product and how to sell

23 Salesclerk Simply order taker or cashier

24 Sales Representative Requires extensive training and product knowledge Often requires college degree Command high salaries and commission

25 Telemarketing Process of selling over the telephone Items sold over the phone: – Magazine subscriptions – Service contracts

26 Characteristics of Effective Salespeople Good Communication skills – Excellent listening and speaking skills – Read between the line when listening – Know proper grammar and pleasant speaking voice

27 Characteristics of Effective Salespeople Good Interpersonal skills – Know how to get along with different people – Be able to handle customers who are demanding as well as those who are reserved – Know what to say and how to say it

28 Characteristics of Effective Salespeople Solid Technical Skills – Good math and computer skills and product knowledge – Be an expert in your field – Read trade magazines/papers to keep up with the trends – Study company products and competitors

29 Characteristics of Effective Salespeople Positive Attitude and Self-Confidence – Involves learning from your mistakes and looking for something useful in all situations – Be secure enough to accept rejections

30 Characteristics of Effective Salespeople Goal Orientation – Keeps effective salespeople focused and striving for success – Persistence is needed – Do not give up on a customer

31 Characteristics of Effective Salespeople Empathy – The essence of customer-oriented selling – Be able to see things from a customer’s point of view and be sensitive to their problem – Learn the says “I can understand why you feel that way. I would feel the same way.” – Have the customers best interest at heart

32 Characteristics of Effective Salespeople Honesty – Salespeople are honest because they know integrity is the cornerstone of professional selling – Salespeople want repeat sales and customer relationships

33 Characteristics of Effective Salespeople Enthusiasm – Be excited about the products you sell – Believe in the products – Lack of enthusiasm will come through

34 Fact and Idea Review Complete and Fact and Idea Review on page 184 And Critical Thinking

Which of the following is used when there has been little or no previous experience with a product?

Which concept describes matching the characteristics of a product to a customer's needs and wants?

What you tell your client about the feature or benefit of a product is called?

What are advantages or personal satisfaction a customer will get from a good or service?