selling & neg

7/29/2019 selling & Neg

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Selling & Negotiation SkillsMMS Semester 1, Total Marks: 100

(as per University of Mumbai)

Prof Purshottam Patil

1Selling & Negotiation Skills by Prof Purshottam Patil 2011


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Content as per Syllabus1. Selling Skills- Selling to Customers (Sales Process,

Fundamentals of Successful Selling)

2. Conceptual Selling,

3. (Effective Sales Talk) Strategic Selling, BodyLanguage

4. Selling to Superiors

5. Selling to peer groups, team mates & subordinates

6. Types of Negotiations

7. Negotiation Strategies

2Selling & Negotiation Skills by Prof Purshottam Patil 2011


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Reference Text Organizational Behavior by Fred Luthans

(9th Edition)

The Essence of Negotiation- HarvardBusiness School Press

Getting to Yes by Roger Fishes & William Ury

Selling & Negotiation Skills by Prof Purshottam Patil2011 3


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Selling Skills- Selling to Customers

Successful Sales Professionals v know

How many of us have sold something before?



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Successful Sales Professionals: Born or made?

Customer? Adjectives..



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Is selling tough?

Why do people choose a sales career?

Fast Growth? Challenging/ dynamic / learning?Money? Entrepreneur?



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Why selling is required to customer when need is

existing?

Can needs be created? How?



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Crucial attributes required for a Selling Professional

Can these attributes be developed? How?

Which are selling models you know?

What is AIDA??



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AIDA


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AIDA

Used in Advertising / Marketing Describes a common sequence of events that occur when a

consumer engages with an advertisement / marketingprofessional

A - Attention (Awareness): attract attention of the customer.

I - Interest: raise customer interest by focusing /demonstrating advantages & benefits (instead of focusing onfeatures, as in traditional advertising). (?)

D - Desire: customers realize that they want & desire theproduct / service.

A - Action: lead customers towards taking action and/or

purchasing. Selling & Negotiation Skills by Prof Purshottam Patil2011 10


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AIDAAIDA commonly attributed to American advertising and

sales pioneer, Elmo Lewis. In one of his publications onadvertising, Lewis postulated at least three principles to

which an advertisement should conform:

The mission of an advertisement is to attract a reader, so thathe will look at the advertisement and start to read it; then tointerest him, so that he will continue to read it; then toconvince him, so that when he has read it he will believe it. Ifan advertisement contains these three qualities of success, itis a successful advertisement.



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AIDA : Attention How do advertisers grab attention of viewers? How does a shopkeeper / business person get your attention?

What are best creative ways of getting attention of unknown

prospective customer? Imp. Attention:

Getting the other person's attention sets the tone: firstimpressions count, so smile

Even on the phone because people can hear it in your voice -be happy, natural, honest & professional.



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AIDA : InterestWhich are the aspects you are interested in?

How do advertisers generate interest after getting customerattentive?

How do we generate interest after getting attention for aindividual customer?

Imp. Interest:

Something begins to look interesting if it is relevant andpotentially advantageous

The person should have a potential need for your product orservice or proposition. How will u know it?

We must approach the other person at a suitable time

We must empathize with and understand the other person's

situation and issues,Selling & Negotiation Skills by Prof Purshottam Patil2011 13


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AIDA : Desire to buy / DecisionWe need to be able to identify prospect's situation, needs,

priorities & constraints, through empathic questioning &interpretation.

We must build trust, rapport & a preparedness in the

prospect's mind to do business with you personally (?)You must understand your competitors' capabilities and your

prospect's other options (?)

You must obviously understand your product

You must be able to present, explain and convey solutionswith credibility and enthusiasm.



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AIDA : Action Simply the conversion of potential into actuality.

Natural inertia & caution often dictate that clearopportunities are not acted upon, particularly by purchasersof all sorts.

We must suggest or encourage agreement to move to positivedirection or complete the sale.

Is it possible where customer buys the product / service atthe second (I) stage? How?

The better the preceding three stages have been conducted,the lesser emphasis is required for the action stage

At times, a sale is so well conducted that the prospect decidesto take action without any encouragement at all.



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Conceptual Selling,



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Concept Selling Process



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Prospecting



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Pre approach The first stage in the selling process, the stage in which

a salesperson prospects for new accounts, qualifiesthem and prepares to make contact with the prospect



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Approach



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Tele-calling

Greetings,onelineself-intro

Permission tospeak

BriefIntro

Powerstatem

ent

Purpose ofCall

Request

meeting

time_2option

s 2days

Confirm

meeting time

&venue

Thanks



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Approach



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Presentation



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Opening: Ice Breaking

You're face to face with the prospect. What doyou say first? How do you get the prospect tototally focus on your message? What is the bestway of starting a conversation with a new

prospect? Any answers? For some salespeople, this part of the sales call

is so uncomfortable that they have a hard timeeven getting out of their vehicle to meet theclient. And this call reluctance has adebilitating impact on their career.

Is this a technique ? Can we master this?



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Opening: Ice Breakingyou can ask about an award recd by client, how

business is going, or how long they have worked there.It really doesnt matter as long as the question is easy

and it gets your prospect talking.

Every person has one insatiable craving : to feelimportant, valued & heard. When this happens, youquickly develop rapport & an emotional connection.

Your prospect will feel at ease and your sales call willalmost always be successful. So the key is to start byasking questions that are easy to answer.



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Opening: Ice Breaking Experts say it takes only three seconds to make a first

impression. If you investigate the approach andattitude of top producers you'll discover that they all

use some similar strategies for opening a meeting witha new client.



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Opening : Important Make Your First Meeting Count! 1) The first and most important strategy for

breaking ice is knowing all you can about the

company or individual you are planning to address.2) To gain the respect of a potential client, there's alot more to communicating than just words. How dou have it right? So during the first moment of

meeting, greet the person with a firm handshakealong with good eye contact. Stand and walk tall,keeping your shoulders back and your head erect.And don't forget to smile



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Opening : Important 3. speak first about some mutually interesting topics of

conversation. After a few minutes, when you've hadsome time to relax and establish rapport, you canlaunch into your presentation.

4) There may be times when you meet with a client and

you don't feel an immediate connection. Trying to findways to connect with the person and then achieving itcan be very rewarding.

5. The purpose of breaking the ice is simply to begindeveloping a relationship of mutual trust. It is better tostart with a non personal icebreaker.

6. ask questions, but be sure to pay attention to the

answers. Selling & Negotiation Skills by Prof Purshottam Patil2011 29


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Objections



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Objection Handling

What is an objection? Does it mean the client isdisinterested ?

Types of Objections:

1.Need: I have one of those already. My car works just

fine thank you. I have no space for any more.2. Price: have already spent my budget for the month.

Your competitors sell a better product for less money. I

could get it cheaper on the web.3. Time: Ill get back to you. Call me next month.

4. Trust: This is a new co/product. Will you give areceipt, statement. Do you have any brochure, manual.

Who are your existing clientsSelling & Negotiation Skills by Prof Purshottam Patil2011 31


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Objection Handling Process 1. LAARC: Listen > Acknowledge > Assess > Respond

> Confirm

2. FFF : Feel > Felt > Found : I know that you feel that

it is not essential. I had a person yesterday who feltthe same when they first looked at it. But when theytried it on they found that it was so useful &comfortable.

3. LACE: Listen > Accept > Commit > Explicit Action

4. Conditional Close : You say you want a red one. IfI can phone up and get you one, will you take it

today? Selling & Negotiation Skills by Prof Purshottam Patil2011 32


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Closing



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Closing The close' of the sale is usually described as the point

where a prospect or customer agrees to buy.

many sales people who put on a tremendouspresentation, fumble during the close. Why?


Closing Types:


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Closing Types:

1. Assumption Close It is assumed that customer is going to buy. If the

presentation is effective, it is assumed that buying willnaturally follow. What can be your closing statements?

The sales person can start writing the order & expectsthe prospect to sign on the dotted line.

When shall we deliver it to you?

What will your friends say when they see it?

Will 20 cases be enough? This close essentially takes the prospect from the sales

process into the close without the prospect even

realizing it.


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2. 1-2-3 Close 1-2-3 close

Summarize in sets of three items

The houses here are better-looking, better-built andbetter-equipped than those on the other development.

If you buy today, we will give you insurance, tax and afull tank of fuel.


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3. Reverse Close

If a prospect is believed to be leery of thesales pitch, their brain is already telling

them to say "no" well before the close evertakes place.

By using the words "do you see any reason

why you would not like to join ourorganization" the client says "no" but indeedhas said "yes" thus the name Reverse Close.



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4. Balance-sheet Close List both the benefits of the purchase (the pros)

and also the costs (the cons), like a balance sheet.Make sure the 'pros' column is longer and moreimpressive.

Well, although it costs this much and is a bit big, itwill sound really good and fit well into your house

decor. Let's weigh things up. You're not getting ..., but you

are well within your budget and will have ..., ... and.... Hmm. That's good!



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5. Golden Bridge Close Sun Tzu, the famous Chinese General who wrote the classic

text about winning wars without fighting, said 'Build yourenemies a golden bridge'. By this he mean you corner them,

and then rather than fighting (whence they, having nothingto lose, would fight to the death), you back off a little and letthem leave with dignity - just in the direction that you wantthem to go.

The Golden Bridge Close thus works by closing off alloptions except the one you want.

Sorry, we're out of that one...Oh that one is reallyexpensive...And that one has got really bad reviews and I

wouldn't recommend it...Selling & Negotiation Skills by Prof Purshottam Patil2011 39


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