Mktg Chapter 6 Closing 2012

7/31/2019 Mktg Chapter 6 Closing 2012

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Closing Closing

Buying SignalWays

Timing of the CloseFine art of closing the sale -

Methods


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Answer the ff questions

1. Do you always intentionally wanted tobuy the product you bought?

2. What does the salesperson do that reallyimpresses you and make you buy theproduct(s) he is offering you?

3. What do you do when you are ready tobuy?


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Closing

- is the process of helping people make adecision that will benefit them.

- the end result of the presentation


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Buying Signal

- refers to anything that prospects say anddo showing they are ready to buy.


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Several ways prospective buyers maysignal that they are ready to buy

Asks questions Asks another persons opinion

Relaxes and becomes friendlyPulls out a purchase order formCarefully examines merchandise


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The Timing of the Close

Closing Methods:Trial closing question

Actual closing question

Can be used when the prospect1. agrees with the value of a benefit described2. accepts the salesmans answers to his

objections3. shows some signals4. When there is a permanent pause


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The Fine Art of Closing the Sale

2 important meaning to the salesman:

Test his selling abilityHis income


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Methods of Closing the Sales

1. The Alternative-Choice Close2. Assumptive Close3. Compliment Close4. Summary-of-Benefit Close5. The Continuous-Yes Close


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6. Minor Points Close

7. The T Account Close8. Standing-Room-Only Close

9. The Probability Close10. The Negotiation Close

11. The Technology Close


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The Alternative-Choice Close

providing customers a choice between two(2) products.


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Assumptive Close

assuming that the prospect has alreadybought the product.


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Compliment Close

is especially effective with a prospect whois self-styled expert, has a big ego or whois in a bad mood (one who needs to becomplimented)


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Summary-of-Benefit Close

summarizing the benefits (features,advantages) for the prospect in a positivemanner so that the prospect agrees tothe salesman

3 steps:1. Determine the key product benefits that

interest the prospect during thepresentation2. Summarize

3. Propose


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The Continuous-Yes Close

develop a series of benefit questions forthe prospect to answer


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Minor Points Close

similar to alternative-choice closeasking the prospect to make a low-risk

decision (delivery dates, color, size)


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The T Account Close

weighing the pros against the cons

Pros the primary positive aspects of anidea, process, or thing;Cons are the primary negative aspects


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The T Account

PositivePositive features

Advantages

Benefits

NegativeNegative featuresDisadvantages


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SRO is used if an item is:

1. in heavy demand and only few are left2. a bargain and cannot be re-ordered3. a sample and the price is unattractive

4. the last one in stock 5. only one because it is dirty.

* Delay decision may be advantageous tothe customer because this is a rareopportunity.


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The Probability Close

allows prospects to focus on theirobjections


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The Negotiation Close

find ways for fair deal


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The Technology Close

using technology in the presentation tohelp the salesman close the deal.


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The Fine Art of Closing the Sale

1. Trial Close (Minor Point Close) made at achance during the sales presentation toencourage the customer to reveal readiness orunwilingness to buy.

2. Assumption Close a method that comes nearthe end of the planned presentation where thesalesman already thinks that the prospect has

already bought the product.3. Special Concession Close offers the buyer

something extra for acting immediately.


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4. Summary of Benefits Close summarizingthe benefits of the product in a positivemanner so that the prospect agrees withwhat the salesman says.

- the most popular method to ask

for the order.

5. Negotiating-the-single-problem Close(price, delivery terms, credit terms, etc)

- a minor obstacle should not preventthe salesman from closing the sale.


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6. Limited Choice Close a method that allows theprospect to examine different models and try toconsider the degree of interest in each one.

3 steps:1. stop showing new products when theprospect already has enough to choose from.2. remove products that prospect is notinterested in.3. emphasize on products that the prospectseems to be interested in.

7. Direct Appeal Close - a method where thesalesman asks the prospect to buy, order,suggest or use his product.


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8. Standing Room Only is effective whe productsare rapidly consumed and the supply is limited.

SRO is used if an item is:1. in heavy demand and only few are left2. a bargain and cannot be re-ordered

3. a sample and the price is unattractive4. the last one in stock 5. only one because it is dirty.

* Delay decision may be advantageous to thecustomer because this is a rare opportunity.


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End of Chapter 6

Mktg Chapter 6 Closing 2012

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