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Chapter 2
Chapter 2
Chapter 2
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Chapter 2
LEARNING OBJECTIVES
• LO1 : Recognize the steps of the selling process.
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• The sequence of above steps may change to meet the sales situation in hand.
• All kinds of selling do not necessarily pass through the eight steps of the
selling process shown above.
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Prospecting
Prospecting is identifying prospective or potential customers for the company’s
products/services.
• Methods for identifying sales leads or leads (i.e. names and addresses
of prospects) are: (1) consulting existing customers, (2) The company sources
(website, ads., tradeshows, phones), (3) external sources (suppliers,
intermediaries, trade associations), (4) salespersons’ networking, (5)
publications like industrial directories, (6) cold canvassing, (7) standard
industrial classification (SIC) system. (8) world wide web’s (WWW’s) search
engines.
.
Qualifying
Companies qualify sales leads to prospects by contacting them by e-mails or on phone
to find their (i) interests (or needs), (ii) financial capacity, and
(iii) ability to make a decision.
After qualifying, the sales leads are categorized as: Hot, Warm, or Cold prospects
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Sales Funnel
Successful salespeople always keep the sales funnel full.
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Pre–Approach
Before approaching a prospect , a salesperson performs two tasks (1)
information gathering ,(2) planning the sales call.
Information Gathering
• Salespeople collect the prospective customers’ information like location,
type of business, purchase orientation and practices, & so on.
• Sources of information include the Internet, trade magazines, industrial
directories, online information services, etc
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• Make an appointment to meet the prospect.
• Make a favorable first impression.
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From To
A. Attention Rapport
I. Interest Need
D. Desire Solution
A. Action Close
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Handling
Objections
• Objections from prospective customers may take place during
presentations / when the order is asked. If objections are
handled satisfactorily, they may result in sales.
• Two types of sales objections happen :
• Psychological / hidden objections
• Logical, real or practical objections
• Methods used for handling objections:
(i) For Psychological objections: ask questions to clarify the
customer’s thinking.
(ii) For logical objections: (a) ask questions, (b) turn an
objection into a benefit, (c) deny objections tactfully, (d)
show third-party certificates, (e) offer compensation.
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Follow-Up
Necessary for customer satisfaction and building loyalty.
Successful salespeople follow-up in different ways:
• Check customer order.
• Visit when the product is delivered.
• Build long-term relationship.
• Carry out account penetration.
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Communication Skills
• These are required for salespeople and sales managers.
• Communication is transmission of verbal & non-verbal information
between a salesperson and a buyer.
• Non-verbal communications include eye contact, posture, gestures,
facial expression, and overall grooming.
• For effective verbal communication, a salesperson’s tone should be
pleasant with moderate pace of speech, using positive and layman’s
language.
Listening Skills
• Listening is more important than talking.
• Effective salespeople listen very attentively and actively to what is
said and unsaid.
• Successful companies send their salespeople to the training
programs which give importance to listening and speaking.
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Negotiation Skills
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