Chapter 12 Section 12.2.ppt

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Section 12.2 Preparing for the Sale

Marketing Essentials

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SECTION 12.2 SECTION 12.2

What You'll Learn What You'll Learn

_{Sources for developing product information}

_{Prospecting sources and methods}

_{How leads are developed}

_{Preparation for the sale in}

business-to-business selling and retail selling

Preparing for the Sale

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SECTION 12.2

Preparing for the Sale

Why It's Important Why It's Important

In specific sales situations, you may also need to find customers. Some tools and techniques for accomplishing these tasks are covered in this

As a salesperson, you will need to prepare for the sale by learning about the

industry

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SECTION 12.2

Preparing for the Sale

Key Terms Key Terms

_preapproach

_prospect

_referrals

_{endless chain method}

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SECTION 12.2

Preparing for the Sale

The preapproach is getting ready for the face-to-face encounter in a selling situation. To prepare for the sale:

_{Study your products.}

_{Keep up on industry trends.} _{Research potential customers.}

_{Know your company's policies and}

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SECTION 12.2

Preparing for the Sale

Developing

Product knowledge

is essential for success in selling.

 _Direct _experience_{—using the product}

_Written_publications_{—manuals, warranties,}

catalogs

_Other_people_{—previous users, supervisors,}

manufacturer's representatives

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SECTION 12.2

Preparing for the Sale

Industry Trends

Sales representatives read periodicals

related to their trade to gain insight into

the industry. All

industries have trade publications related to their industry.

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SECTION 12.2

Preparing for the Sale

Sources and Methods of Prospecting

A

prospect

, or a lead, is a potential customer. Seven main methods for developing prospects:

_employer_leads

_telephone_directories

_{trade and}_professional

directories

_newspapers

_commercial_lists

_customer_referrals

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SECTION 12.2

Preparing for the Sale

Employer Leads Most businesses try to

generate prospects but also rely on salespeople to find new customers.

Telephone Directories The White Pages is a list of names and phone numbers of potential customers. The Yellow Pages can be useful for B2B prospecting.

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SECTION 12.2

Preparing for the Sale

Trade and Professional Directories These can help B2B salespeople locate customers by industry.

Newspapers Birth announcements provide leads for insurance salesmen. Notices of mergers and new businesses provide leads for B2B salespeople.

Commercial Lists Some companies specialize in providing lists of potential customers categorized by education, income, etc.

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SECTION 12.2

Preparing for the Sale

Customer Referrals Satisfied customers refer their friends and relatives. This is

called the endless chain method.

Cold Canvassing Potential customers are selected at random, such as by going

door-to-door or through the phone book.

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SECTION 12.2

Preparing for the Sale

If the sales call is with an existing customer, the salesperson

analyzes

past

sales

records and

reviews

notes

about the customer's personality, family,

Preparing for the Sale in

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SECTION 12.2

Preparing for the Sale

If the sales call is with a new customer, the salesperson must

research

answers to the following questions, usually through a phone call to the customer:

 _{Does the prospect}

need

_{this product or service?}  _{Does the prospect have the}

financial

_resources

to pay?

Preparing for the Sale in

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SECTION 12.2

Preparing for the Sale

Since the customer comes to you, retail preparation includes:

 _{Straightening, rearranging,}

and replenishing the stock.

 _{Adjusting price tickets}

before and after special sales.

 _{Learning where stock is}

located and how much is

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SECTION 12.2

Preparing for the Sale

 _{Taking inventory.}

 _{Arranging displays.}

 _{Vacuuming the floor, dusting the shelves,}

and keeping the selling area neat and clean. These activities keep you familiar with the

merchandise and makes it easier to find things for customers.

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12.2

A

SSESSMENTSSESSMENT

Reviewing Key Terms and Concepts

1. What are four categories for sources of product information?

2. Why don't all businesses require salespeople to find prospects?

3. Name five sources of prospecting.

4. What is the difference between the endless

chain method and cold canvassing as methods for prospecting?

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12.2

A

SSESSMENTSSESSMENT

Thinking Critically

You have been asked to research a new

prospect for your boss. Your research of this lead found that the company's owner is a

90-year old sole proprietor. The company is

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End of Section 12.2

Marketing Essentials