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    Steps in Sales Cycle: UNIT-3 Personal Selling

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    kashikamahajan1993
    The sales cycle involves several key steps: 1. Prospecting to identify potential buyers and qualify leads. This includes researching existing and referral customers as well as directories. 2. Preparing for the sales call by gathering information on the prospect's needs and preferences and setting objectives. 3. Making the initial approach through self-introduction, highlighting consumer benefits, sparking curiosity, or demonstrating the product. 4. Presenting and demonstrating the product through various methods like explaining features and benefits. 5. Overcoming any objections the prospect may have through questioning, reframing objections, or providing third party validation. 6. Closing the sale by asking for the purchase decision and looking for buying signals through

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    Steps in Sales Cycle: UNIT-3 Personal Selling

    Uploaded by

    kashikamahajan1993
    12 views9 pages
    The sales cycle involves several key steps: 1. Prospecting to identify potential buyers and qualify leads. This includes researching existing and referral customers as well as directories. 2. Preparing for the sales call by gathering information on the prospect's needs and preferences and setting objectives. 3. Making the initial approach through self-introduction, highlighting consumer benefits, sparking curiosity, or demonstrating the product. 4. Presenting and demonstrating the product through various methods like explaining features and benefits. 5. Overcoming any objections the prospect may have through questioning, reframing objections, or providing third party validation. 6. Closing the sale by asking for the purchase decision and looking for buying signals through

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    Personal Selling

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    The sales cycle involves several key steps: 1. Prospecting to identify potential buyers and qualify leads. This includes researching existing and referral customers as well as directories. 2. Preparing for the sales call by gathering information on the prospect's needs and preferences and setting objectives. 3. Making the initial approach through self-introduction, highlighting consumer benefits, sparking curiosity, or demonstrating the product. 4. Presenting and demonstrating the product through various methods like explaining features and benefits. 5. Overcoming any objections the prospect may have through questioning, reframing objections, or providing third party validation. 6. Closing the sale by asking for the purchase decision and looking for buying signals through

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    12 views9 pages

    Steps in Sales Cycle: UNIT-3 Personal Selling

    Uploaded by

    kashikamahajan1993
    The sales cycle involves several key steps: 1. Prospecting to identify potential buyers and qualify leads. This includes researching existing and referral customers as well as directories. 2. Preparing for the sales call by gathering information on the prospect's needs and preferences and setting objectives. 3. Making the initial approach through self-introduction, highlighting consumer benefits, sparking curiosity, or demonstrating the product. 4. Presenting and demonstrating the product through various methods like explaining features and benefits. 5. Overcoming any objections the prospect may have through questioning, reframing objections, or providing third party validation. 6. Closing the sale by asking for the purchase decision and looking for buying signals through

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    of 9

    STEPS IN SALES CYCLE

    UNIT-3 PERSONAL SELLING

    Preparation Presentation Handling objections

    1. Prospecting
    It is the process of identifying the potential buyers who have a need for the products, the ability to pay and adequate authority to buy it. They may be Lead , Prospect,
    Qualified prospect (MAN) 1. Present customers

    2. Referrals
    3. Planned Cold Calling 4. Group Prospecting 5. Direct Mail or Fax 6. Using Directories - can be gold mines if used correctly

    7. Observation

    2. Pre approach
    Information gathering Prospects likes and dislikes, his needs and preferences, habits, nature, economic status. Planning the sales call Setting sales objective Planning the sales strategy

    3. Approach
    Approach stage involves the initial meeting between the salesperson and prospect 1. Self Introduction Approach 2. Consumer Benefit Approach 3. Curiosity Approach 4. Product approach 5. Referral approach 6. Premium approach 7. Praise approach

    4. PRESENTATION AND DEMONSTRATION


    Understanding the buyer needs For understanding the buyers need salespeople need to ask various questions Knowing sales presentation methods Stimulus response method Formula method(AIDA) Need satisfaction method (Features, advantages, benefits) Team selling method Consultative selling method Demonstration

    5. Overcoming objections
    Objections: Expressions of sales resistance by the prospect Psychological, Logical Method of overcoming objection Ask questions Turn an objection into a benefit Deny objection tactfully Third party certificate Compensation

    6. Trial close/Closing the sales


    Stage of personal selling where the salesperson asks the customer to make a purchase decision Some buying signals- Examination of the product, Asks another persons opinion, Become friendly Techniques of closing Alternative choice close Minor point close Assumptive close Summary of benefit Special offer close Negotiation close

    7. Follow Up
    Post sales activities that often determine whether an individual who has made a recent purchase will become a repeat customer Helps build mutually beneficial long-term relationships. Cost and effort to obtain repeat sales from a satisfied customer is half of obtaining a new sale.

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