MKTG. 112 (FINALS)ADDRESSING CONCERNS & EARNING COMMITMENT Flashcards
Major Categories of Objections
*No need
*Product or Service Objection
*Company Objection Price is
*Too High
*Time/Delaying
Buyer has recently purchased or does not see a need for the product category.
“I am not interested at this time”
No Need
Buyer might be afraid of product reliability.
“I am not sure the quality of your product meets our needs”
Buyer might be afraid of late deliveries, slow repairs, erc.
“I am happy with my current suppliers service”
Product of Service Objection
Buyer is intensely loyal to the current supplier.
“I am Happy with my present supplier”
Company Objection
Buyer has a limited budget.
“We have been buying from another supplier that meets our budget constraints”
Price is too High
Buyer needs time to think it over.
“Get back with me in a couple of weeks”
Time/Delaying
Negotiating Buyer Resistance-LAARC
Listen
Acknowledge
Assess
Respond
Confirm
Active listening to the buyer is more difficult than it first seems. Buyers want to communicate what they deem important. Anticipating and cutting them short is common.
Listen
At the buyers conclusion, the salesperson must acknowledge receiving the message without directly responding to it.
Acknowledge
The seller must gain a better understanding of the issue raised by asking the buyer assessment question. “What the issue is and why it was raised.” The advantage of opening dialogue is to defuse possible buyer anger or frustration.
Assess
The sales person responds to the buyer once there is a sound understanding of the issue and why resistance was triggered. All the above response tactics are useful. The reply should be carefully constructed.
Respond
After the response, the sales person needs to ask confirmatory questions to validate comprehension of the message and to assure buyer that all concerns have been adequately met.
Confirm
Techniques to Earn Commitment
Direct Commitment
Legitimate Choice/Alternative Choice
Summary Commitment
T-Account/Balance Sheet Commitment
Success Story Commitment
Simply ask for the order
Direct Commitment
Give the prospect a limited number of choices.
Legitimate Choices/Alternative Choice
Summarize all the confirmed benefits to which there has been agreement.
Summary Commitment
Summary close on paper.
T-Account/Balance Sheet Commitment
Salesperson tells a story of a business that successfully solved a problem by buying his or her products.
Success Story Commitment
Guideline for Earning Commitment
*Look for Commitment Signals
*Ask Trial Commitment Questions
