fos chapter 4

fos chapter 4 - CHAPTER 4 The Psychology of Selling: Why...

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CHAPTER 4 The Psychology of Selling: Why People Buy LECTURE OUTLINE I. THE TREE OF BUSINESS LIFE: BENEFITS A. Customers want to trust you. B. Do the right thing for customers and tell them the truth even if that means a "no sale." C. Unselfishly try to help customers meet their needs, not just make a sale. II. WHY PEOPLE BUY - THE BLACK BOX APPROACH A. Black Box - the internal mental processes that a person goes through when making a decision. B. Stimulus-Response Model - assumes that prospects will respond in some predictable manner to the sales presentation. C. Certain things are known about a prospect’s mental process: 1. People buy for both practical and psychological reasons. 2. Methods are known that salespeople can use to help determine the prospect’s thoughts during sales presentations. 3. We know many of the factors that buyers consider in purchase decisions. III. PSYCHLOLGICAL INFLUENCES ON BUYING A. Motivation to buy must exist. 1. Needs - result from a lack of something desirable. 2. Wants - needs learned by the person. 3. Have practical needs (transportation). 4. Have psychological needs (Cadillac). B. Economic needs - The best value for their money. 1. Economic needs - the buyer’s need to purchase the most satisfying product for the money. a. Price - higher prices can be overshadowed by superior quality. b. Quality - performance, dependability, and durability.
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1. Three degrees (levels) of need awareness: a. Conscious—fully known needs. b. Preconscious—may not be fully aware of needs. c. Unconscious—have needs but do not know what they are. IV. A FAB ULOUS APPROACH TO BUYER NEED SATISFACTION A. Benefit selling - relating a product’s benefits to a customer’s needs. B. FAB selling technique – ( F eatures, A dvantages, and B enefits). C. The product’s F eatures - So what? - Features are physical characteristics. D. The product’s A dvantages - Prove it! 1. Advantages are performance characteristics. 2. Advantage - what the product does. 3. How can it be used to the buyer’s benefit? E. The product’s B enefits - What’s in it for me? 1. Benefit selling - answers the question, “What’s in it for me?” 2. Benefits are favorable results of a particular advantage that can satisfy buyer’s needs. F. Order can be important 1. Emphasize benefits. 2. Describe the advantages and features. V. HOW TO DETERMINE IMPORTANT BUYING NEEDS – A KEY TO SUCCESS A. To determine needs, LOCATE : 1. L isten. 2.
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fos chapter 4 - CHAPTER 4 The Psychology of Selling: Why...

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