SPIN%20Project%20Summary0

SPIN Project Sum - MARK 3337 SPIN Project SPIN Project This is an individual role-play assignment The purpose of this assignment is to improve and

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Unformatted text preview: MARK 3337 SPIN Project SPIN Project This is an individual role-play assignment. The purpose of this assignment is to improve and assess your ability to ask questions and turn customer responses into actionable recommendations. You will be required to sign-up for a 5 minute time slot where they will execute a SPIN (Situation, Problem, Implication, Need-Payoff) to an assigned buyer. This SPIN will be based on the same buyer profile as the Team Role Play exercise. The SPIN will be worth 25 points. How Do You Sell? What would you do to get someone to buy? How would you approach it? How do you convince them? Why worry about the approach? I don't know who you are. I don't know your company. I don't know your company's product. I don't know what your company stands for. I don't know your company's customers. I don't know your company's reputation. Why should I trust you enough to tell you about my problems? Setting an Agenda Many salespeople find it helpful to spend a moment setting an agenda for the meeting. It helps to establish that the salesperson and customer will be working together to uncover needs and explore solutions. Setting an Agenda If you were setting an agenda for your first meeting with a new customer, what might you want to say? Setting an Agenda Thus, in setting an agenda, you want to do three things: You propose an agenda, You make sure the customer understands the value of the agenda, and You get the customer's input and acceptance before moving on. Finding the Need Behind the Need More strategic "need behind the need" Need Behind the Need Because our competition is gaining on us and we need to be more responsive than they are. Need Behind the Need Because we need to improve our sales performance. Need We need to equip our sales force with laptop computers. Initial need expressed Using Open and Closed Questions to Discover Needs Have you ever done business with our No, our firm has always used First of bank before? [closed] America bank. I assume, then, that your checking account is currently with First of America? [closed] Yes. If you could design an ideal checking Well, it would pay interest on all idle account for your business, what would money, have no service charges, and it look like? [open] supply a good statement. When you say "good statement," what exactly do you mean? [open] Anything else in an ideal checking account? [open] It should come to us once a month, be easy to follow, and help us reconcile our books quickly. No, I guess that's about it. The SPIN Technique: S = Situation Questions P = Problem Questions I = Implication Questions N = Need Payoff Questions The SPIN Technique: Situation Questions These are general data-gathering questions designed to help you find out some basic information. Prospects quickly become bored if they hear too many of them. Examples: What is your position? How many people do you employ? Try to gather this kind of information before the sales call. The SPIN Technique: Problem Questions These are meant to help assess the needs or problems they might have. They provide you the answers to how you can be the solution Examples: How many packages are damaged? How do you handle late deliveries? The SPIN Technique: Implication Questions These questions are asked only after a dissatisfaction has been identified. They are designed to help the prospect think about the ramifications of problems. They help the buyer realize that the costs of doing nothing outweigh the cost of the solution. Examples: What happens if you ship your customer a product that doesn't meet specs? What does that do to your price as compared to your competitors? The SPIN Technique: Need Payoff Questions When salespeople ask questions about the usefulness of solving a problem, they are asking need payoff questions. Examples: If I can show you a way to eliminate paying overtime for your operators and therefore reduce your costs, would you be interested? So if I understand you correctly, a faster stamping process is important to you? If the buyer responds negatively to a need payoff question, the salesperson has not identified a serious need. Developing a Strategy for the Presentation Based on the needs identified, the salesperson should develop a strategy for how to best proceed to meet those needs. Consider: Selecting appropriate product options Determining optimal payment terms Service levels to suggest Presenting the features and benefits in language best suited for the buyer's social style. Mini Case for MARK 3337 You work for T-Mobile You need to find out why they would need your services Use the SPIN technique SPIN Project Details Team will sign up for the same day Use 1 DVD Each team member will use the SPIN technique You will have 5 minutes to present Professional dress required Business casual Questions? ...
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This note was uploaded on 05/12/2010 for the course MARK mark3337 taught by Professor Amyvandaveer during the Spring '10 term at University of Houston.

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