The psychology of selling: Why people buy - Chapter 4 of Fundamentals of Selling by Charles M. Futrell. Presented to the students of Tolani Institute of Adipur as a part of their Sales Management Course

1. Sales Management
Psychology of Selling
Compiled & Presented By:
Anuj Sharma
Text Book: Fundamentals of Selling – Customers for
life through services by Charles M. Futrell (12th
Edition)
Pre-Class Reading – Chapter 4
Presented to the students of Tolani Institute of
Management Studies

2. Why People Buy?
 People buy for both practical and psychological reasons.
 Determine the prospect’s thought during sales presentations.
 Buyers consider certain factors in making purchase decisions.
Stimulus Black Box Response
Sales
Presentation
Buyer’s Hidden
Mental Process
Sale / No Sale
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3. Psychological Influences on Buying
 Motivation to buy must be there – Needs & Wants
 Economic Needs – The best value for the money.
 Price is not the only factor. Other factors like service, quality, better performance.
 Awareness of Needs – Some buyers are unsure.
 Conscious Need Level – Fully aware of their needs.
 Preconscious Need Level – Know general type of product but may not discuss.
 Unconscious Need Level – Do not know why they buy a product.
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4. FAB Selling Technique
 Feature – Physical characteristics of the product.
 Advantage – Performance characteristics of the product.
 Benefit – Favourable result that the buyer will receive.
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5. Determine the important buying needs
 Differentiate between the important needs and the needs of less or no importance.
 Service, delivery, time savings & cost reduction – Is the buyer interested in all four
benefits?
 Many not be a rational need which the salesperson perceives important.
 Emotional need – Not easily recognized.
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6. Emotional Needs
 Fear
 Vanity
 Desire for Gain
 Security
 Love of Family
 Personal pleasure
 Desire to succeed
 Comfort or luxury
 Self-Preservation
 Prevention of Loss
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7. L-O-C-A-T-E your customer’s needs
 Listen
 Observe
 Combine
 Ask Questions
 Talk to Others
 Emphathize
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8. Trial Close
 When?
1. After making a strong selling point in the presentation.
2. After the presentation.
3. After answering an objection.
4. Immediately before you move to close the sale.
 It allows you to determine:
I. Whether the prospect likes your product’s feature, advantage or benefit.
II. Whether you have successfully answered the objection.
III. Whether any objections remain.
IV. Whether the prospect is ready for you to close the sale.
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9. SELL Sequence
 S – Show the feature
 E – Explain the advantage
 L – Lead into the benefit
 L – Let the customer talk
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10. Adaptive Selling Based on Buyer’s Style
 Thinker
 Intuitor
 Feeler
 Senser
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11. The Thinker Style
 Logic, ideas & systematic inquiry
 Preplan your presentation with ample facts & supporting data
 Be precise
 Present your material in an orderly and logical manner
 Closing – “Think it over, I’ll get back to you tomorrow.”
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12. The Intuitor Style
 Ideas, innovation, concepts, theory and long-range thinking.
 Tie your presentation into the buyer’s big picture.
 Build buyer’s concepts and objectives into your presentation.
 Be sure you have ample time.
 Closing – “I know you have a lot to do – I’ll handle the nitty-gritty and get this off
the ground.”
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13. The Feeler Style
 People oriented & sensitive to people’s needs.
 Impact your idea will have on people.
 Engage in conversation and wait for their cue to begin presentation.
 Use emotional terms and words.
 Keep the presentation on a personal note.
 Closing – “Ok, if there are no objections, let’s set it up for next week.”
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14. The Senser Style
 High value on action.
 Brief and to the point presentation.
 Graphs, models and samples help the senser to visualize.
 Verbal communication more effective than written communication.
 Start with conclusions and results.
 Suggest an action plan in closing.
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15. Buying Situations
 Routine Decisions
 Reinforce that this is the correct buying decision.
 Important to have the product in stock.
 Change this person’s product loyalty and buying habits.
 FAB of your product should be directly compared to their preferred brand.
 Limited Decisions
 They know the general qualities of the product.
 Not familiar with each brand’s FAB.
 They seek information.
 Provide buyer with necessary knowledge to make brand comparisons and increase their
confidence that purchase of your product is correct decision.
 Extensive Decisions
 Much more is at stake.
 They might get frustrated during decision-making process.
 Determine the reasons why buyer is interested in a product.
 Simple, straightforward manner, only enough information to make a decision.
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16. Consumer buying decision process
 Need arousal
 Collection of information
 Information evaluation
 Purchase decision
a. The attitude of significant others (the influencers)
b. Perceived risk of buying the product
c. Uncontrollable circumstances
d. Salesperson’s actions after the decision has been reached.
 Post purchase Behaviour – Satisfied customers are easier to sell.
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17. To Buy or not to Buy?
Consider the following while making your presentation:
 What type of product is desired?
 What type of buying situation is it?
 How will the product be used?
 Who is involved in the buying decision?
 What practical factors may influence the buyer’s decision?
 What psychological factors may influence the buyer’s decision?
 What are the buyer’s important buying needs?
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18. How can I convince them to choose my
product?
They will buy if:
 They perceive a need or problem.
 They desire to fulfil a need or solve a problem.
 They decide there is a high probability that your product will fulfil their needs or
solve their problems better than your competitor's products.
 They believe they should buy from you.
 They have the resources and authority to buy.
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19. Thank You!!!19
 Grazie
 Gracias
 Domo Arigato
 Merci
 Danke
 Obrigado
 Mahalo
 शुक्रिया