The document provides an overview of key sales concepts and techniques. It defines sales as a need-satisfying process or problem-solving activity involving an exchange. It discusses understanding customer needs, wants, and demands. Various sales theories and models are described, including AIDA, SPIN, and FABV. Common sales techniques like feature-advantage-benefit selling and handling objections are also summarized. The document outlines the buying and selling processes and closes with a brief discussion of different closing techniques.

1. Sales concepts and Sales Techniques S.ANANTHARAMAN

2. LEARNING OBJECTIVES Understanding SALES Sales Concept & Models Sales Process & Techniques

3. SALES The Exchange of Goods or Services for an Amount of Money or Its Equivalent

4. Why Do We Buy Any Product? We buy products which solves our problem or satisfy our Need None of us buy products. We all buy ‘ products ’ of the product – which are called Benefits or Need solutions People buy what they Want when they want the product more than the money it costs We do not buy what the product IS; We buy the Benefits that the use of product will bring to us

5. NEED, WANT, & DEMAND Problem/ discomforts /deprivation means presence of Need Need May be Implied /dormant or Active Active Need turns into Want/Desire Want backed by Money Generates Demand Remember ! salesperson don’t invent or create the Need; they make the Latent Need Obvious…How they do is their selling skill !

6. UNDERSTANDING SALES Thus, SALES is basically a Need Satisfying Process or A Problem Solving Activity Exchange : Need Satisfaction or Problem Solving by exchanging the Benefits/Solution that the Product or Services offer to money/considerations which the Customer part with Products or services are Solutions to someone’s Problem

7. WANT Want & Need SALE: A process of Need Satisfaction Exchange Dormant /Implied Need Active Need Purchase Satisfaction

8. Problem Problem Problem Problem Problem Problem Solution Solution Solution ???? Solution…..? Buyer Buyer Seller Seller

9. Selling Theories AIDA Concept SPIN Model FABV Approach Stimulus Response Theory Product Oriented Selling Need Satisfaction Theory

10. AIDA CONCEPT Gaining A ttention Holding I nterest Arousing D esire Obtaining A ction

11. SPIN MODEL Selling by asking questions to understand customer need and to offer solutions Selling by Understanding Rather Than Persuading 4 types of Questions S ituation Questions P roblem Questions I mplication Questions N eed-Payoff Questions

13. Feature-Advantage-Benefit-Value : FABV Feature : part of the product or service – or what the product/service IS. Physical characteristics of the product : Broadband through ADSL technology Advantage describes why the feature provide an advantage to the customer : Faster download speed Benefit describes the economic, technical, service, and social benefits delivered by the product offering: Time saving, more business, competitiveness, more options Value : The worth (often in money term) of the offering. Anyone buys when the value perceived is more than the money parted with

14. Mbps..?? Is this a new service????? What I will do with it ? Our Broadband service gives you 2mbps speed Customer Salesperson

15. Advantages Objections Objection Handling Implied Need Implication & Need Pay off Questions Explicit Needs Benefit No sale Success More Success Less Success SELLING ON ADVANTAGE Vs. SELLING ON BENEFIT

16. Seller FEATURES Buyer: OBJECTIONS that’s just what I need! I like it ! Seller BENEFITS Buyer: AGREEMENT Must be very costly… Seller ADVANTAGES Buyer: PRICE CONCERN Wait a minute…. But…. No way…. FEATURE , ADVANTAGE, & BENEFIT

17. Stimulus Response Theory If the salesperson uses right stimulus of an appropriate strength, the prospect will respond the way salesperson wants him to. Role of prospect : Passive responder

18. Product Oriented Selling Based upon the assumption that the prospect is not aware of the new technological & scientific developments Emphasizes on the presentation and explanation skill of the sales person Used for cutting age technological products 80% of the interaction time is spent in presentation Role of Prospect : Listener

19. Need Satisfaction Theory Salesperson should identify the prospect’s Need/problem before he presents the product, which will satisfy the Need. Three stages Need Development Need Identification Need Satisfaction 80% of the talking done by the prospect

20. What A Customer Want To feel ‘IN CHARGE’ Respect Fairness Friendliness Knowledge Confidence Approval & Appreciation

21. SELLING TECHNIQUES

22. A Sales person : Should be… Honest/trustworthy Friendly/Pleasing Interesting Good listener Polite Flexible Knowledgeable Empathizing Should not be… Arrogant/rude Indifferent Sarcastic/superior Impatient Aggressive/Pushy Defensive Negative Lazy

23. Buying process-REED R- Recognize the need E-Evaluate options E-Eliminate Doubts D-Decide to Buy

24. Selling Process -ODPEC O-Open a call D-Develop the need P-Propose a solution E-Eliminate doubts C-Closing the Sale

25. … And let me tell you another thing….. ZZZZZZ…….. Customer Salesperson

27. CLOSING ABC : A lways B e C losing Closing Techniques Summary close Alternate close 1-2-3 close : We will give you this, that and the other. Assumptive Close :acting as if they are ready to decide Best Time Close- emphasize how now is the best time to buy. Now-or-Never Close - to hurry things up. Trial Close- see if they are ready for a close. Yes-Set Close- get them saying 'yes' and they'll keep saying 'yes'.

28. You can take away my money and take away my factories, but leave me my sales staff and I’ll be back where I was in two years.” Andrew Carnegie

29. Thank you