mkt340b

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gannonv
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mkt340b
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2012-10-31 11:10:10
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mkt340b
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  1. Characteristics of a good prospect
    1. Must have a NEED

    2. Affordability

    3. Authority- If decision maker is not there, reschedule immediately. The worst thing I could ever do to you is have you do my job in addition to your own.  If implemented correctly this could benefit you for the rest of your life.  It cannot be more important to you than it is to them

    4. Favorably Approached- If implemented correctly  this could benefit you for the rest of your life.  Do you think its worth having one hour uninterrupted to do this?

    Eligibility- If they can’t qualify for it (i.e. Credit for a mortgage)
  2. Visual tools (Analytic)
    • Charts- Treat your visuals like your appearance
    • Should not detract from your message in either direction
  3. Visual tools (Kinetic)
    Models Samples and Gifts
  4. Catalogs and Brochures
    • defect free- internalize them not memorize
    • Were only written for visuals and one personality type (depends how its written)
  5. Visual Tools (visual, auditory)
    • Electronic
    • DVD- Visual
    • Tapes- Auditory
    • Powerpoint- Visual
  6. Strategy meeting (purpose, components)
    Purpose: Implement product or service, get refferals, only present to people you know will buy your product

    • Components
    • 1. Recap profile
    • 2. Assess each need indivdually
    • 3. Make your recommendations for each
    • Steps for qualification or implementation
    • 4. Set a date and time for stage 4 (Confirmation meeting)
    • 5. Referrals and introductions
    • (Blank Line)
  7. Responding to rejection in sales
    viewed positively because they are involved in a conversation
  8. Two things everyone has
    Fear of change, procrastination
  9. When rejection
    • Setting up initial appointment (time)
    • During the presentation (proposing something new)
    • Attempting to obtain commitment (people are least willing to give up something only unique to them- signurture)
    • After the sale- buyer's remorse- transfer of emotion after meeting is over
  10. I don't need the product
    Always ask what not WHY (narrow down cause)
  11. I've never done this before
    • Never punish for not being up to date
    • Do not say its time for a change
    • Show what you are proposing is the next evolutionary step in where they are coming from
  12. I don't like the product
    • Has has a bad experience- "Tell me what happened"
    • Find out what the experience was
    • 1. Listen to their story with unbiased ears

    • 2. Under no conditions grant credibility to the story (strangers)
    • It's ok to say something shouldn't have happened but on't say sorry it happened to you
    • Their story generally gets better and better

    • 3. I don't understand
    • Wrong personality type- switch

    • I need more information
    • They interperet the information wrong (switch)

    • I don't like your company
    • Bad experience - worse than with a product
    • Bad reaction- things have changed or I'll take care of it
    • Good- tell me what happened and I'll investigate it- go to the person and ask them

    • I don't like you
    • Too young or too old- if I was removed from the picture, would you still want to have a conversation with someone in my company- referal

    • Too expensive?
    • How much  "too much" is it
    • Partial product or partial price

    • I need to think it over
    • 5% actually do- ppl buy based on emotion

    Never say "what do you think?"

    • Say "thinking it over makes sense"
    •   
    • I assume you wouldn’t be thinking about it unless you were extremely interested
  13. Qualification
    “We need to get an offer to my company to see if you qualify”

    • Three things that can happen to an offer
    • Accepted
    • Rejected
    • Modified

    • As of now the possibility exists that you will be rejected
    •  
    • If it turns out at the end of this process that you weren’t even eligible for it in the first place, who’s time would you have wasted?
    • Salesperson

    • Your’s
    • Until we find out whether or not you qualify, there is really nothing to think over, is there?

    They say “how dare you I’ve never been turned down”

    With all due respect, my company has not been in business for X number of years by taking everyone
  14. Response Methods
    • Direct Denial- Hard no for a hard rejection (It sounds like x co that dumped toxic waste- That was not us)
    • Indirect Denial- Softer no for a softer objection

    Compensation- Cannot handle the objection, so you try to minimize it in the big picture

    • F-F-F
    • Feel I can see how you could feel that way
    • Felt- Others felt similarly
    • Found- Here’s what they found

    • Boomerang- Comes back to you Objection becomes reason to purchase
    • Only 3 left? Jewelry- We’ll be sold out in an hour

    Postpone- Say when in the presentation you will cover this
  15. Preparing to respond
    • 1. Positive Attitude
    • Objections are going to happen, don’t be pissed off when they do

    • 2. Anticipate Objections
    • Have answers ready to go for common objectives

    • 3. Relax, Listen, Don’t Interrupt
    • When people object its like throwing up- let them get it all out- not interrupting

    • 4. Forestall Known Concerns
    • You bring up the objection before they do

    • 5. Evaluate Objections 
    • Is it real or is it an excuse?
  16. 5 Stages of a sales cycle
    • Discovery meeting
    • Profile Meeting
    • Strategy Meeting
    • Confirmation meeting
    • Review
  17. Confirmation meeting (Length, Purpose, Components)
    • 15-30 minutes in length
    •     
    • Purpose
    • 1. Deliver or install product or service
    • 2. Get referrals

    • Components 
    • 1. Review what they purchased
    • 2. Ensure initial use of the product
    • 3. Crease systems for reordering
    • 4. Set up a review schedule
    • 5. Referals and introductions
    • 6. Blank line- Things they’d like to add to make it interactive
  18. Understanding Your Needs (Job search)
    • Structure
    • Motivation (Internal Vs External)
    • Stress (Situational and Felt)
  19. What You Have to Offer
    • Skills- If you don’t use them they go away
    • Knowledge
    • Qualities- unique to you
  20. The Company
    • Their needs
    • What they have to offer (mission statement)
  21. Resume
    • 1. One page
    •     
    • 2. Easy to read
    •     
    • 3. Kill objective statement
    •     
    • 4. References
    • Have analytic etc. 4 people
    •  
    • 5. Special Skills
    • Bilingual or multilingual, Computer skills above a basic level
    •     
    • 6. Education
    • GPA- don’t list it?
    • Do list academic honors
    • Dean’s list i.e. (Fall 2010, Spring 2011), Pres. list

    7- Don’t use flowery wording
  22. Follow up
    • 10 days within and don't hear- ASK
    • Thank u within 24 hrs
  23. Safe questions
    • What do you like most?
    • What are your greatest challenges?
  24. Fred Hernandez
    Mimmicks words (Boring routine challenging)
  25. Planning Negotiation (Location, Time, Objectives)
    Place: Neutral

    • Objectives:
    • Target
    • Minimum
    • Opening

    • 1. Competing- highly assertive highly uncooperative (win/lose)
    • 2. Acomidating- unassertive and cooperative
    • (lose/win
    • 3. Avoiding- Highly unassertive highly uncooperative
    • 4. Comprimising- Middle of assertiveness and cooperativeness (Partially satisfy both sides)
    • 5. Collaborating- Highly assertive highly cooperative (maximize both sides
  26. Concession techniques
    • Good Guy—Bad Guy Routine: One appears very
    • flexible and other one appears inflexible-
    • People buy on emotion- name of the game is to get you so emotional you get concessions

    • Lowballing
    • Impression is given that the negotiation is over when in reality one side is still negotiating- add on a bunch of charges at the end

    • Emotional Outburst
    • preying on emotions - feed my kids

    • Budget Limitation Tactic (Budget Bogey)
    • Minimize price in the big picture but in reality
    • it is the big deal

    • Browbeating
    • Take away someone’s enthusiasm or self respect at the start of the session- worst economy since great recession not much I can do for you
  27. How to handle concessions
    • 1. Detatch yourself- time to think
    • 2. Acknowledge their position then respond- they won't do it twice
    • 3. Build them a bridge- take some of what they said and inc it into answer
    • 4. Warn but don; threatten-Threat when you don't get yout way. Warning happens whan they do get their way.
  28. 5 tips regarding concessions
    • 1. Do not make a concession until you have heard all of the other persons demands
    •   
    • 2. Every time you give a concession, get one back and don’t feel guilty about it
    •     
    • 3. Concessions should gradually decrease over time
    •  
    • 4. If a concession does not meet your objectives just say no

    5. All concessions are tentative until the final agreement is signed

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