The Psychology of Selling

Question 1

Why do people buy products?

Answer 1

The black box approach

Question 2

What is the black box approach?

Answer 2

Stimulus – black box – response

sales pitch) – (buyers mental process) – (sale/no sale

Question 3

Why do people buy part 2?

Answer 3

People buy for practical and emotional reasons, in consideration of multiple factors.

Question 4

What are the 3 types of reasoning factors in buying?

Answer 4

Routine, Limited, and Extensive

Routine: products purchased repeatedly
Limited: unfamiliar with product brand
Extensive: more at stake relative to other buying decisions

Question 5

What are the 5 basic steps in a buying decision?

Answer 5

1. Need arousal 2. Collect info 3. Info evaluation 4. Purchase decision 5. Post purchase satisfaction or dissonance

Question 6

What are the influence of buying decisions?

Answer 6

Personal (income, age, gender)
Psych (past, personality, beliefs)
Social (culture, friends, family)

Question 7

Firms 5 basic steps to buying decision

Answer 7

1. Define Problem
2. Establish criteria
3. Identify alternatives
4. Evaluate alternatives
5. Select appropriate solution

Question 8

What does SELL stand for?

Answer 8

S - show feature
E- explain advantage
L - Lead into benefit
L - Let customer talk