MARK 3337 Professional Selling Exam 2 Review Prof Novak
questions well answered graded A+
1. Product Strategy a well conceived plan that emphasizes becoming a product
expert,
selling specific benefits, and configuring value-added solutions
2. Explosion of Product Op- *Domestic and global markets overflowing
tions *>30,000 consumer products produced each year
*Good news: buyers have a choice
*Bad News: More choices makes buying process more
complicated
3. Explosion of Product Op- Amazon is able to give you ditterent product options (tablets
were class
tions (in class example) example) based on size, price, features, etc.
4. Amazon Product Options Product Selection Process: often referred to as "product
configuration"
extended
5. Product Configuration *Develops customized product solutions quickly and accurately
*Incorporates customer selection criteria
*Identifies options, pricing delivery schedules
*Can integrate with Customer Relationship Management
applications
6. Written Proposals Many clients ask for written proposals and some provide
detailed
guidelines
*Most written proposals include:
Budget and overview, objective, strategy, schedule, rationale
7. Product information Cat- *Product development and quality improvement processes
egories
8. Becoming a Company Expert
1/
18
, MARK 3337 Professional Selling Exam 2 Review Prof Novak
questions well answered graded A+
Performance data and specifications
Maintenance and service contracts
Price and delivery
What kinds of information is needed
in most selling situations?
Company culture and organizations
Product information
Past Performance
2/
18
, MARK 3337 Professional Selling Exam 2 Review Prof Novak
questions well answered graded A+
9. Know the Competition *Be able to discuss your strengths and weaknesses relative to
the
competition
*Do not refer to competition directly during sales presentation
*Only discuss competition if you know your facts
*Never criticize the competition
*Be prepared to add value
10. Be an industry Expert Salesperson= become an industry expert
Be business analyst versus product specialist
*Industry knowledge must be both current and detailed
11. Industry Expertise:
IT's Never Too Early *Process starts in college
*Read trade journals
*Regularly attend industry seminars and conventions
*Become active in industry associations
12. Where to find sales infor- *Web-based sources, catalogs, and marketing-related sales
support
mation information
*Plant tours
*Internal sales and sales support team members
*Use the product
*Read and study publications
13. Selling Yourself *Apply Product Strategy
*Become product expert
*Selling specific benefits
*Configuring value added solutions
14. Essentials for Benefits
Product Strategy
Features and 15. Feature vs Benefit
3/
18
questions well answered graded A+
1. Product Strategy a well conceived plan that emphasizes becoming a product
expert,
selling specific benefits, and configuring value-added solutions
2. Explosion of Product Op- *Domestic and global markets overflowing
tions *>30,000 consumer products produced each year
*Good news: buyers have a choice
*Bad News: More choices makes buying process more
complicated
3. Explosion of Product Op- Amazon is able to give you ditterent product options (tablets
were class
tions (in class example) example) based on size, price, features, etc.
4. Amazon Product Options Product Selection Process: often referred to as "product
configuration"
extended
5. Product Configuration *Develops customized product solutions quickly and accurately
*Incorporates customer selection criteria
*Identifies options, pricing delivery schedules
*Can integrate with Customer Relationship Management
applications
6. Written Proposals Many clients ask for written proposals and some provide
detailed
guidelines
*Most written proposals include:
Budget and overview, objective, strategy, schedule, rationale
7. Product information Cat- *Product development and quality improvement processes
egories
8. Becoming a Company Expert
1/
18
, MARK 3337 Professional Selling Exam 2 Review Prof Novak
questions well answered graded A+
Performance data and specifications
Maintenance and service contracts
Price and delivery
What kinds of information is needed
in most selling situations?
Company culture and organizations
Product information
Past Performance
2/
18
, MARK 3337 Professional Selling Exam 2 Review Prof Novak
questions well answered graded A+
9. Know the Competition *Be able to discuss your strengths and weaknesses relative to
the
competition
*Do not refer to competition directly during sales presentation
*Only discuss competition if you know your facts
*Never criticize the competition
*Be prepared to add value
10. Be an industry Expert Salesperson= become an industry expert
Be business analyst versus product specialist
*Industry knowledge must be both current and detailed
11. Industry Expertise:
IT's Never Too Early *Process starts in college
*Read trade journals
*Regularly attend industry seminars and conventions
*Become active in industry associations
12. Where to find sales infor- *Web-based sources, catalogs, and marketing-related sales
support
mation information
*Plant tours
*Internal sales and sales support team members
*Use the product
*Read and study publications
13. Selling Yourself *Apply Product Strategy
*Become product expert
*Selling specific benefits
*Configuring value added solutions
14. Essentials for Benefits
Product Strategy
Features and 15. Feature vs Benefit
3/
18
