Marketing – a definitionMarketing – a definition

““The management process responsible for identifying, anticipating, The management process responsible for identifying, anticipating, and satisfying customer requirements – profitably”and satisfying customer requirements – profitably”

Source: The Chartered Marketing InstituteSource: The Chartered Marketing Institute

What are your unique selling points?What are your unique selling points?

Are you making the most of yourAre you making the most of your USPs?USPs?

At three levels:At three levels:

PersonalPersonal

ProductProduct

OrganisationalOrganisational

Three really important questions...Three really important questions...

What factors do customers consider when deciding What factors do customers consider when deciding to do business with you? to do business with you?

Why do customers buy more than once from you?Why do customers buy more than once from you?

Why do customers leave you, and take their business Why do customers leave you, and take their business elsewhere?elsewhere?

Three types of objection and five responsesThree types of objection and five responses

Three types: Openly expressedThree types: Openly expressed

Inferred or impliedInferred or implied

Disguised or hiddenDisguised or hidden

Five responses: Pre-emptFive responses: Pre-empt

Ask and exploreAsk and explore

Agree and counterAgree and counter

Provide the answersProvide the answers

Accept the sale is deadAccept the sale is dead

The three types of customer every The three types of customer every organisation needs most: organisation needs most:

Current customers worth retaining Current customers worth retaining

Others’ customers that should be wonOthers’ customers that should be won

Lost customers that should be Lost customers that should be regainedregained

Three elements to the FAB sales Three elements to the FAB sales modelmodel

FF eatures eatures

what is it, and what can it do?what is it, and what can it do?

AA dvantages dvantages

how can it solve problems?how can it solve problems?

B B enefits enefits

what do I gain, what do I avoid?what do I gain, what do I avoid?

Four questions on the product life Four questions on the product life cyclecycle

When will the next stage start?When will the next stage start?

How long will it last?How long will it last?

How if at all, can we extend it?How if at all, can we extend it?

Are we ready for the next stage?Are we ready for the next stage?

Four determinants of Four determinants of customer loyaltycustomer loyalty

Past satisfaction with a brandPast satisfaction with a brand

Perceived risk associated with a purchasePerceived risk associated with a purchase

Availability of substitutesAvailability of substitutes

Costs of changing brandsCosts of changing brands

Source: Javalgi and MobergSource: Javalgi and Moberg

The AIDA selling modelThe AIDA selling model

AA ttentionttention

I I nterestnterest

D D esireesire

A A ctionction

Four questions that help establish Four questions that help establish

market impactmarket impact Do we anticipate the needs of our customers?Do we anticipate the needs of our customers? Do we offer products and services which have a distinctive edge over our Do we offer products and services which have a distinctive edge over our

competitors?competitors? Do we meet the demands of our customers precisely and accurately?Do we meet the demands of our customers precisely and accurately? Do we exceed the expectations of our customers because we do all of the Do we exceed the expectations of our customers because we do all of the

above so well?above so well?

Source: Steve SmithSource: Steve Smith

Source: Butz & GoodsteinSource: Butz & Goodstein

Market growth

The Boston matrix

LowLow

High

HighRelative market share

Star Question mark

DogCash cow

Four stages in the Four stages in the customer experiencecustomer experience

ShoppingShopping

PurchasePurchase

OwnershipOwnership

ReplacementReplacement

Source: Frederick ReichheldSource: Frederick Reichheld

Five types of customer in Five types of customer in terms of buying a product or terms of buying a product or

service:service: InnovatorsInnovators 2.5%2.5%

Early adopters 13.5%Early adopters 13.5%

Early majority 34.0%Early majority 34.0%

Late majority 34.0%Late majority 34.0%

Laggards 16.0%Laggards 16.0%

Source: Everett RogersSource: Everett Rogers

Five Five PPs of sellings of selling

P P roductroduct

P P ushing throughushing through

P P ersonalityersonality

P P ersistence andersistence and

P P ricerice

Five buying rolesFive buying roles

InitiatorInitiator

InfluencerInfluencer

DeciderDecider

BuyerBuyer

UserUser

Five parts to the product life cycleFive parts to the product life cycle

IntroductionIntroduction

GrowthGrowth

MaturityMaturity

SaturationSaturation

DeclineDecline

Six sales essentialsSix sales essentials Visulalise your successVisulalise your success

Think positivelyThink positively

Be proactiveBe proactive

Analyse what is limiting your successAnalyse what is limiting your success

Associate with positive peopleAssociate with positive people

Take care of your physical health Take care of your physical health

Source: Vicki GersonSource: Vicki Gerson

The 6 ‘P’s of the marketing mixThe 6 ‘P’s of the marketing mix PP roductroduct

P P rice rice

P P romotionromotion

P P lacelace

PP eopleeople

P P rocessesrocesses

Seven signs of a sales professional Seven signs of a sales professional

Clarity of objective and outcome soughtClarity of objective and outcome sought

Has a method – how to achieve successHas a method – how to achieve success

Is well preparedIs well prepared

Has the right equipment and informationHas the right equipment and information

Knows what they need to in order to impressKnows what they need to in order to impress

Sees the right people at the right timeSees the right people at the right time

Is always smartly turned out and punctualIs always smartly turned out and punctual

Nine buying motivesNine buying motives AmbitionAmbition

StatusStatus

EgoEgo

GreedGreed

SecuritySecurity

Fear of lossFear of loss

PrestigePrestige

Pride of ownershipPride of ownership

Desire to have ahead of othersDesire to have ahead of others

Any more?Any more?

Ten principles of sales negotiationTen principles of sales negotiationAim high to get moreAim high to get more

Don’t be a price crumblerDon’t be a price crumbler

Never give away concessionsNever give away concessions

Negotiate the variablesNegotiate the variables

Reduce the value of the other’s concessionsReduce the value of the other’s concessions

Be miserlyBe miserly

Beware of time and deadlinesBeware of time and deadlines

See the big pictureSee the big picture

Know your weaknessesKnow your weaknesses

From: Richard DennyFrom: Richard Denny

Ten rules of professional sellingTen rules of professional sellingSell yourselfSell yourself

Ask questions and really listenAsk questions and really listen

Link features to benefitsLink features to benefits

Sell resultsSell results

Don’t rely on logicDon’t rely on logic

Use product knowledge selectivelyUse product knowledge selectively

Know your USPsKnow your USPs

Don’t catch ‘priceitis’Don’t catch ‘priceitis’

Don’t just talk – showDon’t just talk – show

Don’t knock the competitionDon’t knock the competition Source: Richard DennySource: Richard Denny

What makes a What makes a

reallyreally

successful successful salesperson?salesperson?