MAR 3400 Test 3 Review (Ch. 12-18) || with Accurate Answers 100%.
2 views 0 purchase
Course
MAR 3400
Institution
MAR 3400
3 Steps to Handling Objections correct answers *1. clarify*
- explore the customers objection so that you truly understand the underlying motivation as to why they bring that issue up
*2. respond*
- make sure you use the information uncovered in the clarification step to respond in a way that...
MAR 3400 Test 3 Review (Ch. 12-18) || with Accurate
Answers 100%.
3 Steps to Handling Objections correct answers *1. clarify*
- explore the customers objection so that you truly understand the underlying motivation as to
why they bring that issue up
*2. respond*
- make sure you use the information uncovered in the clarification step to respond in a way that
truly puts the customer at ease with their obligation
-- use evidence: testimonials, white papers, case studies, statistics
*3. confirm*
ask the customer if you have alleviated their concern or if they would like more information
Planning for Customer Objections: *Types of Objections* correct answers *need objection*
may not need your product at all ... already have a solution or supplier that supplies a product
that meets their needs in a way that they don't need something new
*product objection*
may believe there's something better on the market that they can use to fulfill a need or want
know they need your product but don't want your product
*price objection*
prices being too high is one of the most common objections that any buyer gives a sales rep
*time objection*
*source objection*
may not like you company or even may not like you
Planning for Customer Objections: Timing correct answers times when you typically get
objections:
- making appointment [for first time]
- start of meeting
- presentation
- close
-- handle objections differently depending on when in the sales process the objections occur
Why are objections a good sign? correct answers - objections are natural
- customers naturally want to reassure themselves that they are making the right decision
- means you are getting through to the customer -- they would not raise concerns if they were not
seriously considering your offer
,forestall known concerns
- raise them first -- prevent objections from becoming an issue
o If you know a concern will come up, you can prevent the concern through need-payoff
questions
relax and listen
- listen first
- do not interrupt
- PLAN to relax
evaluate objections
- excuse vs. unidentified need
-- unidentified need ... identify and help
-- the excuse could be ... a smokescreen because the buyer does not want to be confrontational,
may not trust you yet, may be embarrassed about finances
always tell the truth
- if you don't know ... then say so and tell them you will get back to them
-- make sure you follow through!
Professional Objection Handling correct answers *Clarify*
- ask questions and really listen
- paraphrase back to make sure there is no underlying/other concern
- acknowledge that you understand why they would have that concern
*Respond*
- answer the objection in a way that puts their concerns at ease and shows that you are trying to
create value for them
find points of agreement
- referring to other customer experiences
revisit method correct answers salesperson turns the objection into a reason for buying
(boomerang method)
works well with all personality types
postpone method correct answers buyer raises objections the salesperson would prefer to answer
later
the salesperson should ask permission to answer the question at a later time
useful when a price objection occurs early
question method correct answers turn the customer's concern into a question and refocus on one
or more strengths of your value proposition
get the customer thinking in a new way to contact his/her concern against an advantage
- designed to get them to think about that concern in a different way
More About Objections correct answers *need objections*
- conditioned response or cover up?
- develop needs
*product objections*
- not well established/not popular
- friends or acquaintances -- maybe your colleagues didn't like the product
- demo, trial period, testimonials, 3rd parties -- anything to build credibility
*price objections*
- do not focus on price
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
