Chapters 6 and 7 Personal selling philosophy Product strategy

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Chapters 6 and 7
Product Strategy
Personal selling philosophy
1. Develop relationship strategy
2. Develop product strategy
3. Develop customer strategy
4. Develop presentation strategy
Product strategy
• Well conceived plan that emphasizes:
1. Becoming a product expert
2. Selling specific benefits
3. Configuring value added solutions
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Solution
• A mutually shared answer to a recognized
customer problem.
Key points
• Broad interpretation of “product”
• Knowledge and expertise creates value
• Lots of product options!!!
• Solutions customized for the “customer”
Become a product expert
• Know your product
– Development
– Quality improvement
– Performance specifications
– Maintenance and service contracts
– Pricing and delivery
• Know your company
• Know your competition
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Know the difference
• Product features
–Data, facts,
specs, tech stuff
• Product benefits
–Whatever
provides the
customer with a
gain
Bridge statements
• Link features to benefits
• Examples:
Product positioning
• Those things which establish and
maintain a certain concept of the
product in the mind of the customer
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Product differentiation
• Your ability to separate your product
from the competition
–Things that differentiate products:
• Brand
• Features
• Quality
• Service
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• Introduction
• Growth
• Maturity
• Decline
Product life cycle
• A different product selling strategy is
appropriate for:
– New and emerging products
– Mature and well established products
Value added strategy
• Product (generic)
• Expected product (customer’s perceptions)
• Value-added product (salesperson’s
knowledge)
• Potential product (Mutually discovered
possibilities)
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Presentation strategy
• Six Step Presentation plan
1. Approach
2. Presentation
3. Demonstration
4. Negotiation
5. Close
6. Servicing the sale
Presentation strategy
• Six Step Presentation plan
1. Approach -- first impression, information
gathering
2. Presentation – needs assessment, select
solution
3. Demonstration – clarify product
4. Negotiation – when there’s resistance
5. Close – clues to closing
6. Servicing the sale – rapport, long term
relationship
• Set up a “pre-approach” meeting with your
prospect by next week.
• Send me an e-mail verifying that you met
with your prospect, and outline what was
discussed.
• During the pre-approach meeting you should
gather information to help you form your
presentation plan.
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