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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
- Page 2 and 3: 10/29/2009 Solution • A mutually
- Page 4 and 5: 10/29/2009 Product differentiation
- Page 6: 10/29/2009 Presentation strategy
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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