Page 291 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes service if exposed to the right stimuli, such as words, terms, pictures, and actions etc. The
salesperson memorises the sales presentation, including when to do what, and with
customer after customer repeats it.
2. A variation of stimulus-response based approach is formulated presentation. The
salesperson identifies the prospect’s needs and then makes a formulated presentation. Not
much attention is given to encouraging the prospect involvement in the sales presentation
proper.

3. The need-satisfaction approach starts with first determining the prospect’s specific product
or service related needs and tailors the presentation addressing those needs, although
encouraging the prospect to participate in the presentation and do most of the talking.
Sales presentations can be made more meaningful with use of visuals, samples, video cassettes,
computer-based simulations, testimonials, examples, guarantees, and demonstrations. It is useful
to leave brochures and booklets. For group presentation, now with technological advancements
it is useful to make PowerPoint presentations prepared by professionals and offer the advantage
of downloading them on the laptops of audience. Such professionally prepared presentations
can use animation to clarify what cannot be explained by words.

Handling Objections

All salespersons, encounter sales resistance and this resistance often takes the form of objections.
Some of these objections may be rational, or may be purely psychological. These may include
product price and quality, company reputation, preference for competing brand, postponing
purchase, and irritation towards salesperson etc. A salesperson should be prepared to face such
objections. However, no matter how well-prepared a salesperson is, there is always a chance that
a customer may raise some objection for which the salesperson has to come up with a solution
immediately on his own. The salesperson must possess a good degree of presence of mind.

The salesperson should maintain a calm approach, be positive and make sure the true nature of
prospect’s concern is understood. This requires first listening carefully, asking questions to clarify
the issue, and them understanding the true nature of objection. However, if the prospect doesn’t
really need the product, or has no resources to buy it, the salesperson must thank her/him for the
time taken and leave business card with the assurance of great service any time in future.

Closing the Sale

Closing refers to asking for the order. After making an effective sales presentation, the salesperson
is ready to ask for the order. Closing is the sum total of all the sales presentation steps. It is the
very reason for which the prospect was contacted. Many salespeople, perhaps because they lack
confidence, feel uneasy, fail to perceive the positive cues indicating the prospect’s readiness, and
fail to take the step of asking for order.
Salespersons should learn to interpret meanings of queries, comments, statements, or prospect’s
body language signals. As soon as possible, the salesperson must try to close the sales. During the
presentation, at some point the salesperson may use a trial close. This involves assuming that the
prospect is ready to buy and might ask which model, size, colour, financial terms, quantity, and
delivery etc., the prospect prefers. The prospect’s response to such questions indicates how close
the prospect really is for making the purchase. The salesperson might also indicate the advantage
of buying now, or offer some incentive to act just then. The salesperson may also repeat strong
points of agreement and take a decisive and confident approach and ask for an order.

In most business-to-business (B2B) buying situations, salespersons need to be skilled negotiators
during the sales presentation. The negotiations may involve factors concerning price, quality,

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