Quiz 6 (ch. 12 & 13)

informative presentation

emphasizes factual info that's often taken from technical reports, company-prepared sales literature, or written testimonials from people who've used the products

persuasion

presenting product appeals so as to influence the prospect's beliefs/attitudes/behaviors

persuasive presentation

sales strategy that influences the prospect's beliefs/attitudes/behavior and encourages buyer's action

reminder presentation

assumes that the prospect has already been involved in an informative/persuasive presentation, so the customer understands at least the basic product features and buyer benefits

canned presentation

standard set of steps that ignores the unique needs of each customer and is presented in the form of a repetitive speech given to all customers interested in a particular item

proof device

a statement/report/testimonial/customer data/photograph

cost-benefit analysis

quantifying the solution by listing the buyer's costs and the savings to be achieved

return on investment

formula for determining the net profits/savings from a given investment

emotional links

connectors between your message and the prospect's internal emotions

showmanship

interesting and attractive way of communicating an idea to others

mental imagery

ability to visualize an object/concept/action that's not actually present

portfolio

portable case/loose-leaf binder containing a wide variety of sales-support materials and used to add visual life to the sales message and to prove claims

negotiation

working to reach an agreement that's mutually satisfactory to both buyer and seller

BATNA

"best alternative to negotiated agreement" meaning what alternatives will be acceptable if your negotiation does not succeed

ZOPA

"zone of possible agreement" meaning the space between the seller's walk-away point and the buyer's highest willingness to pay

logrolling

using a customer's concern to form an alternate solution in a formal negotiation

stall

resistance related to time meaning the customer does not yet perceive the benefits of buying now

direct denial

high-risk method of negotiating buyer resistance by refuting the prospect's opinion/belief

indirect denial

salesperson bends a little and acknowledges that the prospect is at least partially correct when the prospect's concern is completely valid, or at least accurate to a large degree

superior benefit

benefit that will, in most cases, outweigh the customer's specific concern

trial offer

giving the prospect an opportunity to try the product without making a purchase commitment

postpone method

postponing negotiations until you can complete the needs assessment or acquire additional info regarding final price, delivery dates, etc. when selling a complex product

trial close

closing attempt made at an opportune time during the sales presentation to encourage the customer to reveal readiness/willingness to buy

unbundling

a strategy used to reduce the price by eliminating some ideas