MAR 3400 FSU EXAM 3 STUDY GUIDE
Sell Slow - Answers -Take time to fully understand the customer's needs
Steps to Handle Objections - Answers -Clarify, Respond, Confirm
Clarify - Answers -Paraphrase back to make sure there is no underlying/other concern
Respond - Answers -Answer the objection in a way that puts their concerns at ease
and shows that you are trying to create value for them
Confirm - Answers -Make sure that they no longer have the concern
Types of Objections - Answers -Needs, Product, Price, Time, Source
Need Objection - Answers -Not sure if they need the product
Product Objections - Answers -Doesn't think your product is the answer to their need
What is the most common objection? - Answers -Price
Time Objection - Answers -Don't believe this is the right time for them
Source Objection - Answers -Not quite sure if they like the company itself
When the objection occurs affects - Answers -How you answer it
Objections are a _____ thing - Answers -Good
Blunders occur when the salesperson: - Answers -- Does not understand the question
- Answers the wrong question
- Fails to fully answer the objection
- Ignores it
What are effective responses to objections? - Answers -Direct denial, Indirect denial,
Compensation method, Referral method, Revisit method, Postpone method, Question
method
Direct Denial - Answers -Only use with blatant inaccuracy NOT used with opinions
Indirect Denial - Answers -Deny the objection but attempt to soften the response;
Recognize the position of the customer
, Compensation Method - Answers -Buyers may object because the salesperson's
product falls short; Acknowledge objections and then show any compensating
advantages
Referral Method - Answers -Feel, Felt, Found
Revisit Method - Answers -Salesperson turns the objection into a reason for buying
Postpone Method - Answers -Buyer raises objection the salesperson would prefer to
answer later
Question Method - Answers -Turns the customer's concerns into a question and
refocus on one or more strengths of your value proposition
How to solve a: Need Objections - Answers -Develop needs
How to solve a: Product Objection - Answers -Demo, trial period, testimonials, 3rd
parties
How to solve a: Price Objection - Answers -Add value and do not make concessions
too quickly
How to solve a: Timing Objection - Answers -Explain why they should buy now
How to solve a: Source Objection - Answers -Encourage trial order/second line
Most customers will not complain about - Answers -Minor issues
Why does Storytelling work? - Answers -- Drives customer interest
- Engaging
- Changes how customer processes info
- Creates a sense of connection
- Shows empathy
TALE - Answers -Talking Points, Audience, Layout Place, Experiment
Talking Points - Answers -Raw facts and info you want to convey in the story; establish
a clear purpose
Audience - Answers -Tailored to the style of the audience
Layout Place - Answers -How will it flow? What materials you want?
Experiment - Answers -Think back to when you told similar stories before; Practice with
manager or coworkers for feedback
Sell Slow - Answers -Take time to fully understand the customer's needs
Steps to Handle Objections - Answers -Clarify, Respond, Confirm
Clarify - Answers -Paraphrase back to make sure there is no underlying/other concern
Respond - Answers -Answer the objection in a way that puts their concerns at ease
and shows that you are trying to create value for them
Confirm - Answers -Make sure that they no longer have the concern
Types of Objections - Answers -Needs, Product, Price, Time, Source
Need Objection - Answers -Not sure if they need the product
Product Objections - Answers -Doesn't think your product is the answer to their need
What is the most common objection? - Answers -Price
Time Objection - Answers -Don't believe this is the right time for them
Source Objection - Answers -Not quite sure if they like the company itself
When the objection occurs affects - Answers -How you answer it
Objections are a _____ thing - Answers -Good
Blunders occur when the salesperson: - Answers -- Does not understand the question
- Answers the wrong question
- Fails to fully answer the objection
- Ignores it
What are effective responses to objections? - Answers -Direct denial, Indirect denial,
Compensation method, Referral method, Revisit method, Postpone method, Question
method
Direct Denial - Answers -Only use with blatant inaccuracy NOT used with opinions
Indirect Denial - Answers -Deny the objection but attempt to soften the response;
Recognize the position of the customer
, Compensation Method - Answers -Buyers may object because the salesperson's
product falls short; Acknowledge objections and then show any compensating
advantages
Referral Method - Answers -Feel, Felt, Found
Revisit Method - Answers -Salesperson turns the objection into a reason for buying
Postpone Method - Answers -Buyer raises objection the salesperson would prefer to
answer later
Question Method - Answers -Turns the customer's concerns into a question and
refocus on one or more strengths of your value proposition
How to solve a: Need Objections - Answers -Develop needs
How to solve a: Product Objection - Answers -Demo, trial period, testimonials, 3rd
parties
How to solve a: Price Objection - Answers -Add value and do not make concessions
too quickly
How to solve a: Timing Objection - Answers -Explain why they should buy now
How to solve a: Source Objection - Answers -Encourage trial order/second line
Most customers will not complain about - Answers -Minor issues
Why does Storytelling work? - Answers -- Drives customer interest
- Engaging
- Changes how customer processes info
- Creates a sense of connection
- Shows empathy
TALE - Answers -Talking Points, Audience, Layout Place, Experiment
Talking Points - Answers -Raw facts and info you want to convey in the story; establish
a clear purpose
Audience - Answers -Tailored to the style of the audience
Layout Place - Answers -How will it flow? What materials you want?
Experiment - Answers -Think back to when you told similar stories before; Practice with
manager or coworkers for feedback
