Product types "based on 2 classifications" Customer types Corporate sales from opening to closing "sales funnel and sales pipeline" Customer buying decision factors

1. Sales
SESSION 6

2. Table of content
 Product types
 Customer types
 Corporate sales from opening to closing
 Customer buying decision factors

3. Product types
 Product:
 anything offered in market for sale that’s might satisfy
need or want

4. Product types
 Classification of product:
 Based on nature:
Goods:
Physical goods that can
be produced
Example: Soap,
computer.
Services:
intangible that involve
performing act for the
customers.
Example: Electrical repair
services, doctors, delivery.
Events:
Events are organized
with profit motive
Example: Music concert,
trade shows.

5. Experiences:
such as that of
theme park can.
Example: Disney
land, rock climbing
camps.
Places:
involves efforts designed
to attract visitors to an
area. Example: Tourist
locations, cities, states.
Persons:
involves effort
designed to cultivate
attention and
preference of a target
market towards a
person.
Ideas:
‘Ideas’can be
marketed is
through social
marketing.
‘Smoking kills’,
‘Save
environment’.
Information:
it can be produced a
product. This is
essentially what
consulting firms, schools
and universities produce
and distribute at a price.
Organizations:
it can also be
marketed. It is done
influence consumers,
potential customers,
business partners.

6. Product types
 2-Based on customers type:

7. Convenience products:
Buy frequently & immediately
> Low priced
> Many purchase locations
Example:- soft drink, newspaper
Shopping products:
Buy less frequently
> Gather product information
> Fewer purchase locations
Example :- furniture, clothes
Specialty products:
Special purchase efforts
> Unique characteristics
> Brand identification
> Few purchase locations
>Example:- cars.
Unsought products:
Products consumers don’t demand normally.
Example:- life insurance, encyclopedia
Customer products classified into:

8. Industrial Products:
 sometimes termed business products:
 are products bought by organizations manufacturing or
supplying products or providing services.

10. Types of
customers

11. Types of customers:
 1. Potential customer:
 a type of customer that is on the very beginning of your
sales funnel. Technically, is not your customer yet.
 However, you should give them the full treatment and
hopefully change that quickly.
 Show him value: You can capitalize on his interest by
clearly showing him what he can get from your product.

12. Types of customers:
 2. New customer :
 the fresh customer that just bought something from you
 You need to do everything in your power to make that
adoption period smooth.
 Even though you already made a sale, you can’t leave
him without any help.
 Guide them to success: You can earn a long-lasting
customer by investing a bit of your time into explaining
how your product works and making sure the new
customer knows how to use it.

13. Types of customers:
 3. Impulsive Customer :
 This is the type of customer that can make a buying decision in
an instant, provided that the conditions are right.
 Clear the way for them and get rid of any distraction he may
face to make sure you’re not wasting that buying impulse when
it comes.

14. Types of customers:
 4. Loyal customer
 This type of customers keeps coming back for more.
Apart from having a significant impact on your revenue,
they will be also your brand’s ambassador.
 they will recommend your business or product to his
friends and family, sending a healthy stream of new
customers your way.
 You should try to leverage his experience and learn what
makes him so satisfied with your business. When you
have the chance, ask them which aspect of your product
or business he likes the most.

15. break

16. Sales pipeline

17. S a l e s
f u n n e l
v s s a l e s
p i p e l i n e

18. contact
A sales pipeline journey begins when a potential customer learns about
you. You can aid that discovery through two ways:
1. Lead generation. Marketing strategies used to attract and build interest in
your product or service. A one-to-many approach (Website – Email
campaigns – social media –others).
2. Sales prospecting. An active process to search out likely customers to buy
your business’s product or service. A one-on-one approach (warm calls- cold
calls- cold emailing- networking event).

19. Qualification
Lead qualification is a process to determine if a lead has a high chance to
convert into a customer — particularly a satisfied long-term customer.

20. BANT
 Budget: Does the lead have the necessary budget to purchase your
product?
 Authority: Does the lead have authority to make buying decisions, or
are there other people you need to talk to?
 Needs: Does the lead have a need or problem your product can
solve?
 Timeline: When does the lead plan to make a purchase?

21. Meeting
 Get to know your potential customer.
 Get a sense of the goals they’re trying to accomplish.
 Learn more about what they’ve already tried to achieve those goals.
 They learn more about you “why should they buy from you?”.

22. Prepare to the Meeting
Research.
Review.
Prepare.
Rehearse.

23. Proposal
The proposal stage of a sales pipeline is when you ask your lead to
become a customer.
Some best practices for a sales proposal are:
 Keep it short
 Keep the language as simple as possible
 Customize your proposal template for each lead
 Pitch the solution to their problem, not the product

24. Closing
The only leads in the closing sales pipeline stage are those who have
signed a contract or made a purchase. They’re no longer a potential
customer — they’re a paying customer.

25. Retention
 Coupons
 A simple phone call
 Birthday connections
 Consider different payment plans
 Provide great customer service
 Customer loyalty program

26. Factors Influencing Customers’ Buying
Decision

27. Factors Influencing Customers’ Buying
Decision
1.Psychological Factors
2.Social Factors
3.Cultural Factors
4.Personal Factors
5.Economic Factors

28. Factors Influencing Customers’ Buying
Decision

29. Factors Influencing Customers’ Buying
Decision
2.Social Factors
I. Family
ii. Reference Groups
iii. Roles and status
3. Cultural factors
I. Culture
ii. Subculture
iii. Social Class

30. Factors Influencing Customers’ Buying
Decision
4. Personal Factors
I. Age
ii. Income
iii. Occupation
iv. Lifestyle
5. Economic Factors
I. Personal Income
ii. Family Income
iii. Consumer Credit
iv. Liquid Assets
v. Savings

32. The End