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10/29/2009 <strong>Chapters</strong> 6 <strong>and</strong> 7 <strong>Product</strong> Strategy <strong>Personal</strong> <strong>selling</strong> <strong>philosophy</strong> 1. Develop relationship <strong>strategy</strong> 2. Develop product <strong>strategy</strong> 3. Develop customer <strong>strategy</strong> 4. Develop presentation <strong>strategy</strong> <strong>Product</strong> <strong>strategy</strong> • Well conceived plan that emphasizes: 1. Becoming a product expert 2. Selling specific benefits 3. Configuring value added solutions 1
Delete template? Are you sure you want to delete your template? Save as template? CHAPTER 6 - Creating Product Solutions 1. Provide a brief description of the term product strategy A product strategy outlines a company's strategic vision for its product offerings by stating where the products are going, how they will get there and why they will succeed. The product strategy enables you to focus on a specific target market and feature set, instead of trying to be everything to everyone. 2. Distinguish between product features and buyer benefits Features are aspects of your product, which could be technical or descriptive. Benefits are why that feature matters for your customers. 3. What is product configuration? Provide an example of how this practice is used in the sale of commercial stereo equipment Product configuration is the process of customizing a product to meet the needs of a customer. If the customer has complex buying needs, then the salesperson may have to bring together many parts of the company's product mix to develop a custom-fitted solution. The product selection process is often referred to as product configuration. 4. Define organizational culture. How might this company information enhance a sales presentation Organizational culture is a collection of beliefs, behaviors, and work patterns held in common by people employed by a specific firm. A supportive culture that encourages salespeople to offer tailor-made solutions to buyer problems will set the stage for long- term partnerships 5. Basic beliefs underlie the salespersons method of handling competition. What are four guidelines a salesperson should follow in developing basic beliefs in this area 1. In most cases, do not refer to the competition during the sales presentation. 2. Never discuss the competition unless you have all your facts straight. 3. Never criticize the competition. 4. Be prepared to add value. 6. Explain what the customers expectations are concerning the salespersons attitude toward competition Customers appreciate an accurate, fair, and honest presentation of the facts. They generally resent highly critical remarks about the competition. 7. List and briefly describe the five parts included in most written sales proposals Budget and overview - clear Objective – very specific benefits that relate directly to the customer's needs. Strategy – how to meet objectives Schedule – implementation timeframes Rationale– why take action now Is a well conceived plan that emphasizes a product expert?The product strategy is a well-conceived plan that emphasizes becoming a product expert, selling specific benefits, and configuring value-added solutions (Figure 6.1).
Which term refers to the process by which a salesperson uncovers and clarifies?Solution Selling. A process by which the salesperson uncovers and clarifies a customer's problem, works with the customer to create a vision of how things could be better, and then develops a plan for implementing the vision.
Is the process of identifying prospects who have a need for your product and should be contacted?Prospecting is the first step in the sales process, which consists of identifying potential customers, aka prospects. The goal of prospecting is to develop a database of likely customers and then systematically communicate with them in the hopes of converting them from potential customer to current customer.
Which term refers to measuring products and services against established standards?Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations.
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Is a well conceived plan that emphasizes a product expert selling specific benefits and configuring value added solutions?
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