MKT 410 Study Guide.docx - MKT 410 Study Guide 3 Keys to selling(NOT for large sales 1 Closing skills 2 Objection handling 3 Using open-ended questions

MKT 410 Study Guide.docx - MKT 410 Study Guide 3 Keys to...

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MKT 410 Study Guide 3 Keys to selling (NOT for large sales!!) 1) Closing skills 2) Objection handling 3) Using open-ended questions Large sales involve (larger sales, the sales cycle get longer) Many calls over a longer period (lot of internal discussion without salesperson being present) Larger customer commitment- bigger risks by customers (need to build value) An ongoing relationship (b/c typically involve post-sale support and future sales opportunities) 4 Stages of Sales Call 1) P reliminaries 2) I nvestigating- most important stage because you need to know what you are selling 3) D emonstrating capabilities 4) O btaining commitment Asking questions Closed questions: single word answers o ex- are you happy with your system? Open-ended questions: require longer answers o Why are you unhappy with your system? Neither are better for sales; anticipate the answer you don’t want and change the question accordingly *SPIN Questions Situation questions: data gathering questions (ex- how long have you had your current system?)Problem questions: questions about problems, difficulties, and dissatisfaction (ex- what problems are you having with your current system?)Implication questions: questions about the consequences of a problem (ex- how does this downtime impact your bottom line?)Need-payoff questions: questions that get the customer to tell you how your situation can help them (ex- how do you think a faster system will help you?)Why learn about personal selling? QuestionShould a production manager have a basic knowledge of selling? Why or why not?
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What do Salespeople do?
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Salesperson’s role o Taking orders or creating new solutions
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