Copyright 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/IrwinThe Psychology of Selling: why people buy

4-*The Tree of Business Life: BenefitsITCEthicalServiceBuilds T r u eRelationshipsTTTTTTTTTTTGuided by The Golden Rule, emphasize benefits to improve your:Communication SkillsAbility to unselfishly help a person make the correct buying decision

4-*Why People BuyThe Black Box ApproachInternalization process is referred to as a black boxWe cannot see into the buyers mindStimulus-response model

4-*Psychological Influences on BuyingMotivation to buy must be thereNeeds result from a lack of something desirableWants are needs learned by the personEconomic needs: The best value for the moneyThe buyers need to purchase the most satisfying product for the money

4-*Psychological Influences on Buying, contAwareness of needs: Some buyers are unsureConscious need levelPreconscious need levelUnconscious need level

4-*enefitdvantageA FABulous Approach to BuyerNeed SatisfactionStressing benefits is a very powerful selling techniqueFAB selling technique helps emphasize benefiteature

4-*The Products Features: So What?Feature a physical characteristicMany salespeople emphasize featuresExamples:SizeColorPriceShape

4-*The Products Advantages: Prove It!Advantage - a performance characteristic The chances of making a sale are increased by describing the products advantagesHow a product can be usedHow a product will help the buyerExamples:Fastest-sellingStore more informationCopy on both sides of the paper

4-*The Products Benefits: Whats in it for Me?Benefit a result of advantage People are interested in what the product will do for themBenefits can be both practical and psychologicalBenefits should be specific statements, not generalizationsEmphasizing benefits increases sales

4-*How to Determine Important Buying NeedsA Key to SuccessL-O-C-A-T-Eistenbserveombinesk questionsalk to othersmpathize

4-*The Trial Closea Great Way to Uncover Needs and SellThe trial close asks for an opinion, not a decision to buyIt gives feedback.The trial close is one of the best communication techniques in the sales presentation

4-*The Trial Close Helps You to Determine:Whether the prospect likes your products features, advantages, or benefitsWhether you have successfully answered any objectionsWhether any objections remainWhether the prospect is ready for you to close the sale

4-*The Trial Close Does Not Ask for a DecisionIt asks a question to better understand what the person is thinking about what is being said by the salesperson you

4-*To Help You Properly UseThe FAB selling technique and the trial close, incorporate the SELL Sequence into your presentation

4-*SELL SequenceSELL Sequence- Show Feature- Explain advantage- Lead into benefit- Let customer talkSELL- physical characteristic- performance characteristic- result of advantage- ask opinion question

4-*Your Buyers PerceptionPerception how selects, organizes, interprets informationSelective exposure only portion of information usedSelective distortion perceptual process may alter informationSelective retention may remember only what supports their attitudes and beliefs

4-*Perceptions, Attitudes, and BeliefsPerceptions are learnedLearning - knowledge based on pastAttitude - learned predispositionsBelief - trust or confidence placed in something/someone

4-*The Buyers Personality Should Be ConsideredPersonality can be viewed as the individuals distinguishing character traits, attitudes, or habitsSelf-conceptReal selfSelf-imageIdeal selfLooking-glass self

4-*Personality typingAdapt your presentation to the buyers styleTIFS ntuitor styleAdaptive Selling Based on Buyers Style ensor style eeler style hinker style

THINKERHigh value placed on logic, ideas, and systematic inquiry.Present material in an orderly manner.Have plenty of facts and supporting material.

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INTUITOR4-*

4-*You Can Classify Buying SituationsSome decisions are routineSome decisions are limitedSome decisions are extensive

4-*Technology Provides InformationTechnology provides information for customer decision making and service

4-*View Buyers as Decision MakersFive basic steps in the buying decisionNeed arousalCollection of informationInformation evaluationPurchase decisionPostpurchase:SatisfactionDissonance

4-*Exhibit 4-12: Personal, Psychological, and Social Forces that Influence Consumers Buying Behavior

4-*Satisfied Customers Are Easier to Sell toIt is easier to sell to a customer than to a strangerBuilding a relationship is important to a salespersons success

4-*To Buy or Not to Buya Choice DecisionA salesperson needs to understandFactors that can influence the buying decisionBuyers actually examine various factors that influence these decisionsBuyers actually go through various steps in making decisions