Exam (elaborations)
MAR 3400 Test 3 Review Questions with complete solutions
- Course
- Institution
MAR 3400 Test 3 Review Questions with complete solutions
[Show more]
Content preview
MAR 3400 Test 3 Review Questions with completesolutions
3 Steps to Handling Objections Correct Answer-*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
Answer-*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 Answer-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 Answer-- 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
,Behaviors of Successful Salespeople Correct Answer-anticipate
objections
- prepare helpful responses
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 Answer-*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
*Confirm*
- that they no longer have a concern
Effective Response Methods Correct Answer-direct denial
indirect denial
compensation method
referral method
revisit method
postpone method
question method
direct denial Correct Answer-the salesperson makes a relatively strong
statement to indicate the error the prospect has made
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 cracker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now