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Marketing Final Flashcards

1
Q

Today’s buyer

A

better informed, have higher expectations, and demand than ever before

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2
Q

Win-Win Selling

A

Stay side by side to ensure satisfaction

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3
Q

Buyer’s expectations

A

Salesperson is knowledgeable, up to date, and able to answer questions

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4
Q

Product and People Knowledge: Which is the front and back tire

A

Product knowledge= Back tire: Need back tire to move/ need to know about our product
People knowledge: Front tire steers the conversation

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5
Q

4 Stages of Skill Learning

A
  1. Unconcious incompetence
  2. Conscious incompentence
  3. Conscious competence
  4. Unconcious competence
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6
Q

Unconcious incompetency

A

No knowledge of skill area, but we don’t know of skill of knowledge

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7
Q

Concious incompetency

A

Making person aware that they are missing a skill (Awareness Building)

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8
Q

Consciously competent

A

Know you have a skill but it isn’t mastered (Skill Building)

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9
Q

Unconciously competent

A

Do what works and know why it works (New Habit)

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10
Q

Salesperson’s job

A

Not to sell the products, but to help the prospect buy

Counselor that helps through process

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11
Q

Two types of problems

A

Task

relationship

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12
Q

Definition of Win Win

A

Establishes Trust
Uncovers Problem
Help Solve problem
Offer Support

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13
Q

4 Categories of Rejection

A

No Trust
No Need
No Help
No Satisfaction

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14
Q

When you’re buying a product, what are you buying?

A

A solution

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15
Q

Why is there no trust between sales people?

A

No trust= no action on task/ time

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16
Q

Time Tension Model

A 
Tension=Y
Time=X
Task Tension=Positive Slope
Relationship Tension=Negative Slope
Innefective communication= Left Butterfly
Purposeful communication=Right Butterfly
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17
Q

Why consumer have no trust

A

Haven’t met you before
Used to dealing with someone else
I know what your kind is like (Stereotype)

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18
Q

High relationship tension Ex

A

Reluctance to talk
Minimal info
Wants to move past this tension

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19
Q

Impact percentages

A

55% Visual
38% Vocal
7% other

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20
Q

Low relationship tension Ex

A 
Talks freely
Elaborates Answers
Volunteers information 
Good Eye Contact
Body Faces You
Open Arm and Hand Movements
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21
Q

Ways to Communicate Empathy

A
  1. Ask Questions

2. Listening

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22
Q

Ben Duffy

A

Put himself in the role of the prospect

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23
Q

4 Credibility expansions

A
  1. Properiety
  2. Competency
  3. Commonality
  4. Intent
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24
Q

Propriety

A

Matching Expectations owith Customer
Behaving appropriately for customers business
Calibrating your behavior to their expectations

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25
Competency
Back Wheel: Technical expertise, knowledge of our product or service
26
Demonstrating Competency
Describe our problem solving ability Showing understanding of buyer's situation Inviting further discussion
27
What she would include well Telling
Our Company Our Products Ourselves
28
Commonality
Prospect's perception of how similar salesperson is. Indicate your sincere interest Ask prospect about their ideas/ opinions on the subjeect
29
Intent
My Role Helping you solve your problems Learning all I can about your unique situation
30
Positive recognition
People hungry for some got dam compliments
31
Discovery
Prospects know their problems but don't always know their needs
32
4 Personal Needs
Power Respect Approval Recognition
33
Power
Results orientated
34
Recognition
Risk Takers
35
Approval
Proven and popular
36
Respect
Expert | Need to be right
37
What is problem analysis
Problem-Difference between what you have and what you want
38
2 types of questioning
1. Fact finding questions | 2. Feeling-Finding questions
39
One objective of discovery
To create task tension
40
3 ways to listen
1. Selectively-Taking in what is relevant to your problem 2. Responsively-Verbal "Yeah" 3. Empathetically- saying what they feel
41
Discovery agreement
Summarizes what buyer has and what buyer wants Confirms we know the GAP Review Present Situation Objectives Obstacles
42
No Help Reasons
- Proposing Wrong Solution - Solution may be good, but prospect doesn't clearly understand how will it help - Prospect has another and "better" solution - Proposals aren't responding to prospect's real buying motives - They have to understand why your solution is the right match for their problem
43
Advocating Strategies
- Clear statement of how our product works - How it solves problem - How it benefits problem
44
4 advocating strategy factors
- People - Buying Criteria - Decision-Making - External Conditions
45
What two key issues does task agenda revolve around
How can we justify purchase - Operationally - Financially
46
Operational Justifications 3 basic questions
- How our solution will do job? - Is it best for prospect's situation? - Will it be best in future?
47
Financial Justification
- Pay for itself - Return on Investment - Price vs cost
48
Benefit Path
-Begin Presentation with review of Discovery Agreement
49
3 elements we need in presentation
1. Solution-What we are presenting (idea, product, service) 2. Advantage- illustration or demonstration of the way solution goes about attacking cause & solving problem 3. Benefit- Feeling prospect has when need has been satisfied
50
Benefit (Gain/ Maintain)
Gain-Feeling front winning | Maintain-avoid falling back
51
Illustrating/ visualizing
People respond better to pictures than words
52
The Power of Words
1. Present Story in Prospect's Language 2. Going too fast or trying to cover too much- frusturating 3. Show rather than tell
53
Thirds Party Story
Someone similar had a good solution
54
Assumptive Close
``` Minimize Negatives Maximize Positives Balance Sheet Cost analysis Options Next Step ```
55
Wrapping it all up
Ask for questions or concerns
56
2 Ways prsospects behave defensively to reduce their tension
Fight/ Flight
57
Things that can lead to no satisfaction/ factors
Bigger Buying Decision More People Affected Less likely decision will be easy
58
2 jobs on fight or flight
Manage our own tensions | Help prospect understand and deal with theis
59
Zone of Indifference
Between Satisfaction and dissatisfaction | Need TLC
60
Tension Revisited
We'll be there for them for their benefited | Increased tension due to fear of being sold
61
What do they want from us?
Genuine Warm, accepting regard for client Understanding of client's feeling
62
LSCPA
``` Listen Share (We Understand) Clarify Problem Solve (Hidden Agenda) Ask for Action ```
63
Clarify
What's the actual issue | Remaining steps of presenting and asking for action fall into place
64
3 Methods of clarifying
1. Suggest- "Another way to look at this" 2. Convert- restate what you think question is 3. 3rd party- Neutralize problem/ objection by taking it out of conflict and relating to a similar situation
65
Final Assurances (4)
Testimonials Statistics of success Warranty, guarantee, contract Free trial period
66
Ask for Action
Assumptive Close Techniques Confirm Issue Set Deadline
67
What does supporting eliminate?
No Satisfaction
68
Behaving defensively causes
Fight or flight
69
When does tension increase
When we feel like we're being sold

College (19 decks)

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