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WorksheetsProfessional Selling Exam 3
Total questions: 57
Worksheet time: 34mins
The most effective sales dialogue has six characteristics. What are these six Keys to Effective Sales Dialogue?
Are planned and practiced by salespeople
encourage buyer feedback
focus on creating value for the buyer
Present value in an interesting and understandable way
5. Engage and involve the buyer
6. Support customer value through objective claims
When Creating Customer Value (see the PPT), should a salesperson present the customer with features and benefits that the majority of customers want or present the ones that are important to the specific customer?
Obviously if you know the needs of the specific customer, only present those features and benefits.
a. Identity confirmed benefits for the buyer
i. Talk about whats of interest
ii. Benefits the buyer indicates are important and represents value
1. ADAPT: the projection stage
2. Tie-Down: confirms desire for the benefits
Engage and involve the buyer
Support customer value through objective claims
Maintain long-term buyer-salesperson relationship
What is the meaning of the term Confirmed Benefits? During which stage of ADAPT are they explained by the customer? Does the salesperson focus on them during the presentation?
Objections- allows you to talk more about your product
Confirmed benefits are benefits the buyer indicates are important and represents value. This happens during the projection stage. Yes the salesperson does.
Questions that salespeople use during a sales dialogue
Help generate feedback from the buyer
A salesperson uses check-back (i.e. response-checks). Why are these used by a salesperson? Be able to identify a check-back from a list of questions.
this is employed to confirm benefits and assess buyers level of interest
evaluate the level to which the salesperson has handled buyers objection
Helps generate feedback from the buyer
How does this sound to you? Does this make sense? What do you think? Isn't it great? Etc.
"This feature is important when..... For example"
Anecdotes
Illustrate feature and benefits with description of specific instance.
Comparisons
Analogy
Type of example- "Tell a story" with more details
Comparisons
Features and Benefits
Anecdotes
Analogy
Compare to a competitors product
Anecdotes
Comparisons
Analogy
Features and benefits
Driving this car is like driving a race car
Analogy
Comparison
Anecdote
Features and Benefits
When presenting a sales aid, such as a research report, the salesperson does not simply hand it to a customer. What are the steps taken to present a sales aid? SPES represents the steps.
S: State the selling point and introduce sales aid.
P:Present sales aid
E:Explain Sales aid
S:Summarize
What are some guidelines to remember when completing a product demonstration?
Ensure product is clean and neat
problem free
be confident in demonstrating product
anticipate problems before they happen
make sure setup and know downs are easy and quick.
What are some tools (evidence) that can be used to support claims made by the salesperson? These are known as Proof Providers.
testimonials
case histories
statistics
After finding out that a meeting will include more than one individual from the buying center, the salesperson should try to pre-sell to members of the group. What is the meaning of the term Preselling?
Presenting the product or service to individual buyers before presenting it to the whole group.
listen carefully and maintain eye contact with the person asking the question
Repeat or restate the question to ensure understanding
Address the entire group while answering a question from an individual
What should a salesperson do when Handling Questions in an Group Presentation?
Listen carefully and maintain eye contact
repeat or restate the question
address the entire group while answering the question
answer the question succinctly and convincingly
to be succinctly; prepare in advance
Why is it a good situation for the salesperson to receive some resistance (an objection) from the buyer?
Buyers objections to a product or service during a sales representation (viewed as opportunities to sell) Normal part of a sales conversation.
Sales person will have to: determine customer interest,
Sales person will have to: measure buyer's understanding of the problem.
Correct handling ensures customer acceptance.
What are some common objections?
No Need
Product or Service Objection
Company Objection
Price is Too High
Time/Delaying
buyer has recently purchased or does not see a need for the product category. "I am not interested at this time"
company objection
No need
product or service objection
price is too high
Buyer might be afraid of product reliability. "I am not sure the quality of your product meets our needs" Buyer might be afraid of late deliveries, slow repairs, etc. "I am happy with my current suppliers service"
Product or Service Objection
no need
Price is too high
Company objection
Buyer is intensely loyal to the current supplier. "I am happy with my present supplier"
No need
Company Objection
Product or Service Objection
Price is too high
Buyer has a limited budget. "We have been buying from another supplier that meets our budget constraints"
No need
Price is too high
company objection
time/delaying
buyer needs time to think it over. "Get back with me in a couple of weeks.
time/delaying
price is too high
company objection
product or service objection
Why do salespeople use response checks (check backs) at the end of a presentation? This is similar to a question with the Chapter 7 study guide questions.
ask why he/she has the concern. Uncover the underlying reason for the general objection. Use underlying reasons from Table 3 and 4 from PreCall Planning
let the customer know that you heard what he/she said
Questions salespeople use throughout a sales dialogue to generate feedback
Take care of the objection before the prospects brings it up
Why does someone follow LAARC when responding to an objection? In other words, what does it do for the salesperson?
-truly listen to the buyer
-find the true reason for the objection
-respond using the method
-confirm that the objection is resolved
Explain what a salesperson says at each stage of LAARC. Know the names of the stages, the order followed, and what would be said at each stage.
Listen
Acknowledge
Assess
Respond
Confirm
When as salesperson completes a forestall, what does the salesperson do?
Counterbalance the reason for the objection with a benefit that reduces the negative perception. The benefit “outweighs” the objection
A response to buyer objections in which the salesperson answers the objection during the presentation before the buyer has a chance to ask it.
This method helps affirm the prospects objection to show empathy while contrasting and highlighting the value of your product
Salesperson explains that others found their initial opinions to be inaccurate and explains what they found
Describe each method for handling objections. Be able to identify the method when given a scenario with a salesperson responding to an objection. The methods are:
Feel-Felt-Found Method
Compensation Method
Defer/postpone Method (Also known as "I'm coming to that.")
Denial Method (There are two versions - direct and indirect denials.)
Acknowledge customer feelings "I can see how you feel". Extend the same feelings to a larger group "Others have felt that way too". Counter with a legitimate argument "I have found that our products.."
Direct/Indirect
Feel-Felt-Found
Compensation
Defer/Postpone
Counterbalance the reason for the objection with a benefit that reduces the negative perception. This method helps affirm the prospects objection to show empathy, while contrasting and highlighting the value of your product.
Defer/Postpone
Compensation
Feel-Felt-Found
Direct/Indirect
The salesperson asks if it would be OK to cover pricing after showing the product.
The salesperson gives a reason- says "that way you will know reasons for the pricing". Product presentation is completed by the salesperson, the price per unit is included in the presentation. The salesperson then confirms objection is resolved.
Feel-Felt-Found
Defer/Postpone
Compensation
Direct/Indirect
A rather harsh response that the prospect is wrong. Quickly reject customer statement.
Buyer: I was told that your products were recalled
Seller: Im not sure where you heard that. We have not had one. Your source must have our firm mixed up with another.
Direct Denial
Indirect Denial
Softening the blow when correcting a prospect's information. Say what others have said about the issue. Explain what others have said.
Buyer: Demand is strong, im not sure you'll supply us quickly.
Seller: Demand is high, we will ensure delivery, we have won awards for our on-time delivery of products.. here is an article...
Direct Denial
Indirect Denial
Turns a reason not to buy into a reason to buy. Salesperson takes a reason that is perceived as negative and translates it, so it is perceived by the customer as something positive. The reason for the objection is perceived as a reason to buy.
Buyer: The minimum order quantity of your product is too high. It is higher than your competitors minimum.
Seller: it is higher, the higher order quantity allows us to charge you less than what our competitors charge. The product costs 25% less than our competitor's product. You will save a great deal of money. I have the numbers right here to show you
Feel-Felt-Found
Compensation
Boomerang
Defer/Postpone
Why is the Confirm stage of LAARC important?
Build value through post-sale follow up
To make sure the objection is resolved.
By continually adding value to the product (three levels of the product)
Assure the customer that the salesperson will do everything possible to make that request happen
Is it better for the salesperson to "closing early and often," or recognize that "nobody likes to be sold, but everybody likes to buy"? Explain your answer.
It is better for a salesman to recognize that most people don't like to be sold but understand that people like to buy.
The reasoning behind this is understanding how people like to be treated. If a salesperson closes early their customer may feel cheated with the service they were sold,
whereas if a salsman understands why the customer needs what they need, they are more likely to be open to buy at that moment and in the future.
What is a commitment signal (i.e. buying signal)? Be able to identify from a list of examples.
Favorable statements a buyer makes during a sales presentation that signals buyer commitment.
This can be checked using Trial Commitment (Essentially a checkback) But some favorable buying signals are making positive statements about the product
asks who else bought product, asks about price, delivery, installation
dates, asks about methods of payment, appears more relaxed, studies the product, begins to interact more intentionally with salesperson.
A salesperson may use a Trial Commitment that results in the customer giving a commitment signal. What is a Trial Commitment?
Acknowledge the objection and turn the reason for the objection into a reason to buy
Determines the attitude of the buyer toward a particular feature or benefit
-It is a check-back.
Salesperson takes a reason that is perceived as negative and translates it. So it is perceived by the customer as something positive
Counterbalance the reason for the objection with a benefit that reduces the negative perception. The benefit “outweighs” the objection
Describe each method for earning commitment (i.e. closing). They are listed below. If given an example, be able to identify the method.
Direct Commitment Method
Legitimate/Alternative Choice Method
Summary Commitment Method
T-Account/ Balance Sheet Commitment Method
Standing-Room Only Closing Method ( Also called the buy now approach)
Simply Asks for the order. (Do you want to buy)
Summary Commitment Method
Direct Commitment Method
Legitimate/Alternative Choice Method
T-Account/Balance Sheet Commitment Method
Give the prospect a limited number of choices (Can help narrow down decision process)
Legitimate/Alternative Choice Method
Direct Commitment Method
Summary Commitment Method
T-Account Balance Sheet Commitment Method
Summarize all confirmed benefits to which there has been agreement (Reiterate pros)
Direct Commitment Method
Legitimate/Alternative Choice Method
Summary Commitment Method
T-Account/Balance Sheet Commitment Method
Summary commitment but on paper (Easier to see cost benefits)
Summary Commitment Method
T-Account/Balance Sheet Commitment Method
Legitimate/Alternative Choice Method
Direct Commitment Method
This puts a time limit on the time to close (Is pushy but can work in situations were time limit is real)
T-Account/Balance Sheet Commitment Method
Standing-Room Only Closing Method (Also called the Buy Now Approach)
Summary Commitment Method
Legitimate/Alternative Choice Method
Overall, how does a salesperson build goodwill?
Building rapport can increase follow up sales, this can be done with post sale follow up in the four components.
Continually adding value to the product, and the three levels of it, the augmented, actual and core benefit.
Which include Providing customer service, managing customer expectations and developing a service strategy.
Also, the three drivers of satisfaction are reliability, responsiveness and regular clear concise communication.
Why is it important to assess customer satisfaction? How can this be done?
Building rapport can increase follow up sales, this can be done with post sale follow up in the four components.
Which include Providing customer service, managing customer expectations and developing a service strategy.
Also, the three drivers of satisfaction are reliability, responsiveness and regular clear concise communication.
Ask for feedback
Describe the four components of effective post-sale follow-up. They are listed below. If given an example, or a definition, be able to identify the component.
Interact
Know
Connect
Relate
The stage in which the seller tries to maximize the number of influential encounters they have with the buyer to push them toward the sale/being involved.
Know
Interact
Connect
Relate
with other at the buyers firm. Salesperson develops and maintains contact with multiple influential individuals. This ensures consistent communication about the product.
Connect
Interact
Know
Relate
The salesperson is given information by multiple influential individuals and experiences numerous situations with the buying firm.
Salesperson coordinates distribution of the information and interprets the situations to develop insights regarding buyers changing situation, needs, and expectations.
Know
Interact
Connect
Relate
Salesperson applies relevant understanding and insight to create value-added interactions and further develop relationships with buying firm. Salesperson may be a trusted advisor.
Connect
Interact
Know
Relate
What is an Intranet?
is an organization's computer network that offers password controlled access to people within and outside.
is a computer network created by an organization for use by its customers or suppliers.
Linked to the organization's internal systems, informational databases, and intranet
What is an Extranet?
is an organization's computer network that offers password controlled access to people within and outside.
is a computer network created by an organization for use by its customers or suppliers.
Linked to the organization's internal systems, informational databases, and intranet
Describe the meaning of the acronym CRM.
-Customer contact system integrated with the intranet and Extranet.
-Links buyers and sellers into a rich communication network
-Establishes and reinforces long-term, profitable relationships
- increases switching costs when the salesperson and customer systems are linked
-Provides salespeople with information; higher sales productivity
What are the principal means for achieving customer satisfaction after the sale? These are the headings in the text for the section "Ensure Customer Satisfaction." They are also listed in Exhibit 9.3 Relationship Enhancement Activities (PPT slide).
Build a relationship so the customer is comfortable complaining,
Build value with post sale follow up, remember the customer after the sale, expedite orders and monitor installation, train customer personnel and correct billing errors.
listen carefully to whole story
gain agreement on solution
What are the General Procedures for Handling Complaints?
Build a relationship so the customer is comfortable complaining
listen carefully to whole story
ask customer what he or she would like you to do
gain agreement on solution
focus on what you can fix not what you can't, take action, and follow through on all promises.
What are the three ways that a firm can "Work to Add Value and Enhance Mutual Opportunities"?
provide quality customer service
meet customer expectations
develop service strategy
What is a Service Strategy?
Salesperson takes a reason that is perceived as negative and translates it. So it is perceived by the customer as something positive
a plan in which a salesperson identifies his or her business and customers, what the customers want and what is important to them.
Communication is the most important service dimension.
Maximize the number of critical encounters with the buyer and encourage effective dialogue and involvement
Which is the most important dimension? Hint: If the dimension is not done well, the other two dimensions do not matter very much.
ensure a consistent message to come across the customers company
Communication is the most important service dimension.
the salesperson develops and maintains contact with multiple influential individuals. This ensures consistent communication about the product
the salesperson applies relevant understanding and insight to create value-added interactions and further develop relationships with the buying firm
What are the three Customer Service Dimensions?
Communication
Resilience
Service Motivation
