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Understanding Buyers – How and why customers buy
Understanding Buyers – How and why customers buy

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Chapter 3 InClass Exercise Ill Cook His Goose Understanding Buyers Starts with understanding yourselfand being confident in what you are selling Knowledge Bases from Chapter 2 ID: 364173 Download Presentation

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Slide1

Understanding Buyers – How and why customers buy

Chapter 3Slide2

In-Class Exercise:

I’ll Cook His Goose!

Slide3

Understanding Buyers

Starts with understanding yourself,…..and being confident in what you are selling.

Knowledge Bases (from Chapter 2):

Industry

Company

Product

Price and Promotion

Service

Market/Customer

Competitor

TechnologySlide4

Adaptive Selling

Adaptive selling

(Chapter 1) entails:

Gathering information about each customer

Observing customers’ reactions during the sales call

Being able to make rapid adjustments during the sales process/call/presentation

Tailoring the sales presentation to each customer’s

social style Slide5

Understanding Social Styles

Assertiveness

Competitive

Rapid movers

Quick decision makers

Initiative takers

Time sensitive

Responsiveness

Friendly

Talkative

Approachable

Less time sensitive

Slower decision makers

More sensitive to others’ feelings Slide6

Understanding Social Styles

Understand and know yourself and your prospect’s dominant personality type.Slide7

Social Styles Matrix

Amiable

Show concern for me and my problems”

Supportive

Respectful

Willing

Dependable

Personable

Expressive

“I like competent, imaginative salespeople”

Personable

Stimulating

Enthusiastic

Dramatic

Inspiring

Driver

“Show me bottom line results”

DeterminedDemandingThoroughDecisiveEfficient

Analytical“What I need are practical suggestions”IndustriousPersistentSeriousVigilantOrderly

RESPONSIVENESS

ASSERTIVENESS

Low

High

High

LowSlide8

Appendix for Chapter 3Slide9

In-Class Exercise:

What Makes Him so Successful?

Slide10

Selling From The

Customer’s Perspective

Three conditions constitute a quality buying experience:

Customers believe that salespeople’s assessments of their needs and expectations are good (from quality communication)

Customers experience fulfillment of these needs on a long-term basis due to the salesperson and the sales support team

When customer needs change suddenly, salespeople respond by making every effort to meet new needs

Slide11

Selling to Prospects’

Needs and Wants – a starting point

The goal is to reach a

common understanding

between buyer and seller

This can only happen through the process of disclosure – the giving and taking of information

Do we share any background experiences?

Are our language skills, attitudes, and beliefs similar or dissimilar?

What assumptions have we made about each other based on stereotypes? Slide12

Uncovering Needs and Wants

Salespeople must:

Determine what will

motivate

the prospect to act (not necessarily a purchase)

Understand the

goal orientation

of the prospect

Assess and

adapt to the style

of the prospectSlide13

Types of Buyer Needs

Situational Needs

I need a copier now because I have a major project I need to complete.

I need a copier that sorts and staples.

I need a state-of-the-art copier so I will be recognized as of the technology-savvy people in this company.

I need an extended warranty with a copier.

I need comprehensive training on how to use a copier.

Functional Needs

Social Needs

Psychological Needs

Knowledge NeedsSlide14

Complex Mix of Business Buyer Needs

Buyers’

Level of

Satisfaction

Psychological Attributes

“Delighters”

Functional Attributes

“Must-Haves”

63%

Level of Influence

On Buyers’ Satisfaction

37%

Level of Influence

On Buyers’ SatisfactionSlide15

Categories of Buyers

Manufacturers

Institutions/Governments

Wholesalers, Retailers

Non-Profit Organizations

Business Markets

People (Personal Use)

Consumer MarketsSlide16

Distinguishing Characteristics of Business Markets

Concentrated Demand

Derived Demand

Higher Levels of Demand Fluctuation

Acceleration Principle

Purchasing Professionals

Multiple Buying Influences – Buying teams/centers

Close Buyer-Seller Relationships

Ethical Dilemma, page 81Slide17

Buying Decision Process

Recognition of

the Need

Determination of

Desired Characteristics

Description of

Desired Characteristics

Search and Qualification

of Potential Sources

Acquisition & Analysis

of Proposals

Evaluation of Proposals

Selection of Suppliers

Selection of an

Order Routine

Performance Feedback

and EvaluationSlide18

Characteristics of the

Three Types of Buying Decisions

Straight Rebuy

Modified Rebuy

New Task

Newness of Problem or Need

Information Requirements

Information Search

Consideration of New Alternatives

Multiple Buying Influence

Financial Risks

Low

Minimal

Minimal

None

Very Small

Low

Medium

Moderate

Limited

Limited

ModerateModerate

High

Maximum

ExtensiveExtensiveLarge

HighSlide19

Buying Center Members

Initiators

Users

Gatekeepers

Influencers

Deciders

Purchasers

The roles in the buying center work together to affect the outcome of the purchase decision.Slide20

Individual Factors Affecting the Buying CenterSlide21

Multi-Attribute Model

A

procedure

/

tool

for

evaluating

suppliers and products that

incorporates

weighted

averages

across desired characteristics that are important in the buying decision.Slide22

Multi-Attribute Model

Assessment of

Product/Service

or Supplier Performance (P)

Assessing the Relative Importance of Each Characteristic (I)

The base score

The weight

P x I = Attribute ScoreSlide23

Example of the Multi-Attribute Model Process

Vinyl Fabric

Nylon Velvet Fabric

Characteristic

Performance Score

Importance Weight

PxI

Performance Score

Importance Weight

PxI

Comfort

5

9

45

8

9

72

Durability

7

8

56

8

8

64

Guarantee

7

8

56

8

8

64

Price

10

6

60

1

6

6

Evaluation Score

217

152

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By: liane-varnes
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