Selling Products and Services Advanced Marketing Objective Tues

Selling Products and Services Advanced Marketing Objective- Tues: Feb 2 nd: #109 - Buying motives of businesses as bases for sales presentations #110 - Analyze methods in developing long-term relationships #111 - Explain key factors in building and retaining a clientele #112 - Analyze innovative customer service through use of case studies

Understanding Buying Motives Combination of facts and emotional state that leads to purchasing Urge or motive to satisfy a need or desire that makes people buy Behind every purchase there is a buying motive Must understand determine buying motive for sales presentation Presentation developed strategically to meet buying needs Match product benefits to buyer’s true motive Essential in Business to Business as well as Business to Consumer Sales

Types of Buying Motives Emotional Physical Rational Patronage

Maslow’s Hierarch of Needs Self. Actualization Self-Esteem Social Safety and Security Physiological Morality; Creativity; Problem Solving; Lack of Prejudice; Confidence; Achievement; Respect of Others; Respected by Others Friendship; Family; Intimacy Food; Water; Basics to Survive

Emotional Buying Motives Based on feelings or passions Pride Jealousy Vanity Fashion/Imitation Love and Affection Comfort Praise

Physical Buying Motives Based on Physical Benefits Performance Appearance and Physical Properties Taste Packaging

Rational Buying Motives Based on logic and reasoning Safety or Fear Suitability Durability Economy Convenience Profitability Versatility Recreation Hobbies

Patronage Buying Motives Motive that drives customer to particular business or company Competence of salesperson Superior Service- leads to loyalty Selection and variety

Basic Decisions Businesses Consider Trust of Salesperson(Credible and Concerned about Welfare of Customer) Trust of Company (Reputation and History of Performance) Product and Service ( Is product needed) Price VS. Value (How compares to competition; Value; Cost of NOT buying) Timing to Make Purchase (must meet timing needs of customer)

Buying Motives of Business to Business Customer Desire Fear for Financial Gain of Financial Loss Comfort and Convenience Security and Protection Pride of Ownership Satisfaction of emotion

Class Assignment Students work with a partner to complete this assignment during the class block. Discuss and then identify the top buying motives for The Falcons’ Nest when making business to business purchases for our store Next, discuss and then identify the top buying motives of our customers who shop in The Falcons’ Nest. Prepare a PPT presentation that identifies these buying motives and identify how salespeople for the Falcons’ Nest can prepare and best meet the needs of our customers buy understanding and meeting those buying motives.

#111 - Key Elements in Building Clientele What is Clientele? Clients or customers!

How to Develop Clientele (Business to Business) Company Leads- leads within other departments the business External Sources- (networking/trade organizations; purchase lists of businesses; Personal Cold Sources- friends and family Calls- stop in to a business to introduce yourself

How To Develop Clientele Business to Consumer Get Personal- communicate with your customers! Learn About Your Customer- continue conversation after transaction; get to know customer; conduct research Live for Customer Complaints- use negative feedback as a way to improve relationship with customer Stay in Regular Contact- email; social media Build Trust- demonstrate you can be trusted; compassion; honesty Practice Build In-Bound Marketing- blogs, feedback channels Customer Service!

Class Activity Working in a small group, research THREE tactics that a retail business has used to build clientele. Prepare a PPT presentation to share out with your peers in class next class period. Be detailed: Identify the top three tactics your selected; identify the company or companies ho have used these tactics; explain the tactic; provide examples of how the tactics are implemented and why they were successful; Select one of those three that you would recommend for use in the Falcons Nest and explain HOW we can implement.