MAR 3400 VIOSCA EXAM 3 STUDY GUIDE
Key to understanding customer objections is... - Answers -selling slow
3 steps in handling objections - Answers -1. Clarify, 2. Respond, 3. Confirm
Clarify - Answers -Explore the Objection, Understand motivation behind it
Respond - Answers -Use what was learned in clarification step to put customer at ease
Confirm - Answers -Ask question to see if concern has been alleviated
Example of Clarify - Answers -"Tell me more about that..."
Example of Respond - Answers -honesty, evidence (white papers, testimonials, 3rd
party)
Confirm - Answers -"Do you have any other questions about that?"
5 Sources of Objections - Answers -1. Needs, 2. Product, 3. Price, 4. Time, 5. Source
Needs Objection - Answers -Customer does not need product
Product Objection - Answers -There's a better product out there than yours
Price Objection - Answers -Most common. Price is too high
Time Objection - Answers -Buyer does not have time to meet
Source Objection - Answers -Buyer does not like you or your company
4 Times When Objections Arise - Answers -1. Making Appointment, 2. Start of Meeting,
3. During Presentation, 4. During Close
3 Behaviors of Successful Salespeople - Answers -1. Expect Objections, 2. Anticipate
Objections, 3. Forestall Known Concerns
Expect Objections - Answers -A good sign. All salespeople face objections
Anticipate Objections - Answers -Prepare helpful responses
Forestall known concerns - Answers -Raise them first, before the buyer gets a chance
Direct Denial Effective Response Method - Answers -Used when buyer has a blatant
inaccuracy. NOT used regarding opinions
, Indirect Denial Effective Response Method - Answers --Deny objections but attempt to
soften response
-Recognize buyer's position them use counter evidence to show your side
Compensation Effective Response Method - Answers --Buyers object product's viability
-Acknowledge validity of concern, but show compensating advantages of product
Referral Effective Response Method - Answers --Feel, Felt, Found
-Find points of agreement
Revisit effective Response Method - Answers --Turn objection into reason for buying
-works with most personality types
Postpone Effective Response Method - Answers --Buyer Raises Objections better
answered later
-Ask permission to answer later
-useful when price objection occurs early
Question Effective Response Method - Answers --Turn customer's concern into a
question and refocus on 1 or more strength
-get customer thinking in a new way
Needs Objection Response - Answers --is the response genuine or a cover up?
-Develop customer needs
Product Objection Response - Answers --"Product is not popular"
-refer to friends or acquaintances
-offer demo, trail period, testimonials
Price Objection Responses - Answers --Do not focus on price
-Don't apologize
-refer to price/quality relationship
-Do not make concessions quickly
Timing Objection Responses - Answers --Are they stalling?
- Do they have undisclosed concerns?
-Why buy now?
Source Objection Responses - Answers --Cover benefits vs. Competition
-Encourage trial
Unhappy Customers - Answers --most customers do not complain.
-listen to those that do
-record complaints
Key to understanding customer objections is... - Answers -selling slow
3 steps in handling objections - Answers -1. Clarify, 2. Respond, 3. Confirm
Clarify - Answers -Explore the Objection, Understand motivation behind it
Respond - Answers -Use what was learned in clarification step to put customer at ease
Confirm - Answers -Ask question to see if concern has been alleviated
Example of Clarify - Answers -"Tell me more about that..."
Example of Respond - Answers -honesty, evidence (white papers, testimonials, 3rd
party)
Confirm - Answers -"Do you have any other questions about that?"
5 Sources of Objections - Answers -1. Needs, 2. Product, 3. Price, 4. Time, 5. Source
Needs Objection - Answers -Customer does not need product
Product Objection - Answers -There's a better product out there than yours
Price Objection - Answers -Most common. Price is too high
Time Objection - Answers -Buyer does not have time to meet
Source Objection - Answers -Buyer does not like you or your company
4 Times When Objections Arise - Answers -1. Making Appointment, 2. Start of Meeting,
3. During Presentation, 4. During Close
3 Behaviors of Successful Salespeople - Answers -1. Expect Objections, 2. Anticipate
Objections, 3. Forestall Known Concerns
Expect Objections - Answers -A good sign. All salespeople face objections
Anticipate Objections - Answers -Prepare helpful responses
Forestall known concerns - Answers -Raise them first, before the buyer gets a chance
Direct Denial Effective Response Method - Answers -Used when buyer has a blatant
inaccuracy. NOT used regarding opinions
, Indirect Denial Effective Response Method - Answers --Deny objections but attempt to
soften response
-Recognize buyer's position them use counter evidence to show your side
Compensation Effective Response Method - Answers --Buyers object product's viability
-Acknowledge validity of concern, but show compensating advantages of product
Referral Effective Response Method - Answers --Feel, Felt, Found
-Find points of agreement
Revisit effective Response Method - Answers --Turn objection into reason for buying
-works with most personality types
Postpone Effective Response Method - Answers --Buyer Raises Objections better
answered later
-Ask permission to answer later
-useful when price objection occurs early
Question Effective Response Method - Answers --Turn customer's concern into a
question and refocus on 1 or more strength
-get customer thinking in a new way
Needs Objection Response - Answers --is the response genuine or a cover up?
-Develop customer needs
Product Objection Response - Answers --"Product is not popular"
-refer to friends or acquaintances
-offer demo, trail period, testimonials
Price Objection Responses - Answers --Do not focus on price
-Don't apologize
-refer to price/quality relationship
-Do not make concessions quickly
Timing Objection Responses - Answers --Are they stalling?
- Do they have undisclosed concerns?
-Why buy now?
Source Objection Responses - Answers --Cover benefits vs. Competition
-Encourage trial
Unhappy Customers - Answers --most customers do not complain.
-listen to those that do
-record complaints
