Chapter 14 Section 14.2.ppt

Marketing Essentials

Marketing

Essentials

 Chapter 14 Presenting the Product

SECTION 14.2

SECTION 14.2

What You'll Learn

What You'll Learn

_{The difference between objections and}

excuses

_{Five buying decisions upon which common}

objections are based

_{The general four-step method for handling}

customer objections

_{Six specific methods of handling objections}

and when each should be used

Handling Customer Objections

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_{Handling Customer Objections}

_{Handling Customer Objections}

Why It's Important

Why It's Important

Anticipating and planning potential answers to objections will help you feel more

confident in your responses to customers. Selecting the most appropriate method for handling those objections will set you apart

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_{Handling Customer Objections}

_{Handling Customer Objections}

–Objections_Objections are concernsconcerns, hesitationshesitations,

doubts

doubts, or other honesthonest reasons a

customer has for not making a purchase.

Understanding Objections

–Excuses_Excuses are insincereinsincere reasons for not buying or not seeing the salesperson.

–Objections give you an

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_{Handling Customer Objections}

_{Handling Customer Objections}

Welcome and Plan for Objections

Objections can help redefineredefine the

customer's needs and determine when the customer wants more information.

Objections analysis sheet

• Your product is too expensive

• I can buy your

competitor’s product for much less money

• The product seems too light weight to be so strong

• it’s worth it because of …….

• Our competitor’s product does not come with ….. And is not ….

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_{Handling Customer Objections}

_{Handling Customer Objections}

Common Objections

Most objections are based on key decisions the customer must make before buying:

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_{Handling Customer Objections}

Common Objections

–Need_Need The customer does not have an

immediate needneed for the item or wants the item but does not truly need it.

•Product_Product The customer is concerned about such things as constructionconstruction, ease of use, qualityquality, color, size, or

style

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_{Handling Customer Objections}

_{Handling Customer Objections}

–Source_Source The customer has had negative past experiences with the firmfirm or brandbrand.

Common Objections

–Price_Price The customer does not want to spend so much money.

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Graphic Organizer

_{Graphic Organizer}

The Four-Step Process for Handling Objections Listen Carefully Listen Carefully Acknowledge the Customer's Objections Acknowledge the Customer's Objections Restate the Objections Restate the Objections Answer the Objections Answer the Objections

How can you respond to

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_{Handling Customer Objections}

_{Handling Customer Objections}

• Listen Carefully

Four-Step Process for Handling Objections

•To demonstrate sincere concern for your

customer's objections, be

attentive

attentive, maintain eyeeye

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_{Handling Customer Objections}

_{Handling Customer Objections}

2. Acknowledge the Customer's Objections

Four-Step Process for Handling Objections

•This demonstrates that you

understand

understand and carecare about the customer's concerns.

•This makes a customer feel that his or her objections are

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_{Handling Customer Objections}

_{Handling Customer Objections}

– Restate the Objections

To be sure you understand the customer,

paraphrase

paraphrase the objections (restate them in a different way).

Four-Step Process for Handling Objections

– Answer the Objections

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_{Handling Customer Objections}

_{Handling Customer Objections}

Six methods of handling objections:

 _Boomerang  _question

 _{superior point}  _denial

 _{demonstration}  _{third party}

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_{Handling Customer Objections}

_{Handling Customer Objections}

Superior

Superior Point

Admit disadvantages but then present

superior

superior points to offset or compensatecompensate

for them.

This technique puts the customer in a position to decide between the different features and see additional reasons

for buying.

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_{Handling Customer Objections}

_{Handling Customer Objections}

Denial

Denial When a customer's objection is

based on misinformationmisinformation, provide proofproof and

accurate

accurate information to answer the objection.

Specialized Methods of Handling Objections

Demonstration

Demonstration Demonstrate a product's

features (but make sure they work before using them in a sales situation).

Third

Third PartyParty Use a testimonial from a

previous

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_{Handling Customer Objections}

Boomerang

Boomerang Use a friendly, helpful tone to explain how the objection is really a sellingselling

point.

Specialized Methods of Handling Objections

Question

Question Question the customer—but never in an abrupt manner—to learn

more

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A

A

Reviewing Key Terms and Concepts

1. Distinguish between objections and excuses.

2. Why should you welcome objections in the sales process?

3. Name the five buying decisions upon which common objections are based.

4. List the four steps involved in the process for handling customer objections.

14.2

A

A

Thinking Critically

Marketing Essentials

Marketing

Essentials

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_{Handling Customer Objections}

_{Handling Customer Objections}

Successful salespeople have learned to use a very basic, four-step strategy when answering all objections:

 _{Listen carefully.}

 _{Acknowledge the customer's objections.}  _{Restate the objections.}

 _{Answer the objections.}

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_{Handling Customer Objections}

Key Terms

Key Terms

_objections _excuses

_{objection analysis sheet} _paraphrase