MAR 3400 End Term Exam – Lecturers Update
– A+ Graded Submission – 100% Verified Q&A
for Success
Implicit buyer needs - ✔✔can only see the symptoms of the problems
Explicit buyer needs - ✔✔they know what their needs are
Consumption cycle - ✔✔1. Stimulate consumption process
2. Searching for alternatives: have to be first in their mind
3. Choosing a solution
4. Satisfaction
Buyers start the consumption process with - ✔✔their head (cognitive), their heart (emotive), or
involuntary or unconscious (autonomic)
Information overload - ✔✔giving too much info is bad and can ruin a deal
*buyers need clarity, direction, and candor*
Tracking the buyers journey - ✔✔Status Quo
Definition
Evaluation
What happens in the Status Quo step - ✔✔what your prospect is doing today related to your solution.
Are they working with a competitor? Buyer could be unaware with problems, just doing business as
usual. *Most deals are lost here*
Change: can happen from pain or gain. The buyer is assessing implications for moving forward.
Evaluating political risk or individual motivations. Web research or peers. Initial meetings with vendors
,What happens in the Definition step - ✔✔Clearer vision, ball park pricing requests. Lots of info here,
information overload is common so the vendors with the clearest messages and solutions will win.
Gaining a sharper definition of their own issue. Issue clarity + process clarity. Who? Budget? Selection
criteria? Risk?
What happens in the Evaluation step - ✔✔Defining concept, explore other options, proposals and RFP
process. Final tweaks. ROI needs to be clear. Still haven't signed off on it yet
Michael- white male - ✔✔- expressive (he understood the prospect was amiable and was concerned
about long term relationships)
- he told stories and jokes
- actually controlling the meeting
- demonstrated emotional intelligence (identify with the emotions of others/christian)
Jan- white female - ✔✔-thought she was running the meeting
- Driver
- She was trying to be all business and get to the bottomline but Christian wasn't ready for it, the
relationship had not been developed yet
Christian- black male - ✔✔- amiable
- buyer/prospect
- loves all the stories and jokes
- concerned about budget reduction
Steps in the buying process - ✔✔1. Recognition of a need
- You want to get involved as soon as possible. Around step 2 or 3
2. Definition of the product type needed
3. Development of detailed specifications
, Straight buys - ✔✔a customer buys the same product from the original source
Number one source of referrals - ✔✔satisfied customers
Modified rebut - ✔✔the customer has purchased the product in the past but is looking for new
information (upsell/supersize)
Value = - ✔✔benefits - cost
Value over - ✔✔price
How to speak so that people will want to listen (from speaker) - ✔✔- Dont gossip
- Dont judge
- Don't be negative
- Dont complain
- Don't make excuses/blame others
- Dont lie
- Dogmatism
HAIL - ✔✔to greet or acclaim enthusiastically
- Honesty: be clear and straight
- Authenticity: be yourself
- Integrity: be your word
- Love: wish them well
5 step sales process from Gannett - ✔✔- Plan and prepare: do a lot of research on the company
- Evaluate needs
- Build a solution
- Present and close
– A+ Graded Submission – 100% Verified Q&A
for Success
Implicit buyer needs - ✔✔can only see the symptoms of the problems
Explicit buyer needs - ✔✔they know what their needs are
Consumption cycle - ✔✔1. Stimulate consumption process
2. Searching for alternatives: have to be first in their mind
3. Choosing a solution
4. Satisfaction
Buyers start the consumption process with - ✔✔their head (cognitive), their heart (emotive), or
involuntary or unconscious (autonomic)
Information overload - ✔✔giving too much info is bad and can ruin a deal
*buyers need clarity, direction, and candor*
Tracking the buyers journey - ✔✔Status Quo
Definition
Evaluation
What happens in the Status Quo step - ✔✔what your prospect is doing today related to your solution.
Are they working with a competitor? Buyer could be unaware with problems, just doing business as
usual. *Most deals are lost here*
Change: can happen from pain or gain. The buyer is assessing implications for moving forward.
Evaluating political risk or individual motivations. Web research or peers. Initial meetings with vendors
,What happens in the Definition step - ✔✔Clearer vision, ball park pricing requests. Lots of info here,
information overload is common so the vendors with the clearest messages and solutions will win.
Gaining a sharper definition of their own issue. Issue clarity + process clarity. Who? Budget? Selection
criteria? Risk?
What happens in the Evaluation step - ✔✔Defining concept, explore other options, proposals and RFP
process. Final tweaks. ROI needs to be clear. Still haven't signed off on it yet
Michael- white male - ✔✔- expressive (he understood the prospect was amiable and was concerned
about long term relationships)
- he told stories and jokes
- actually controlling the meeting
- demonstrated emotional intelligence (identify with the emotions of others/christian)
Jan- white female - ✔✔-thought she was running the meeting
- Driver
- She was trying to be all business and get to the bottomline but Christian wasn't ready for it, the
relationship had not been developed yet
Christian- black male - ✔✔- amiable
- buyer/prospect
- loves all the stories and jokes
- concerned about budget reduction
Steps in the buying process - ✔✔1. Recognition of a need
- You want to get involved as soon as possible. Around step 2 or 3
2. Definition of the product type needed
3. Development of detailed specifications
, Straight buys - ✔✔a customer buys the same product from the original source
Number one source of referrals - ✔✔satisfied customers
Modified rebut - ✔✔the customer has purchased the product in the past but is looking for new
information (upsell/supersize)
Value = - ✔✔benefits - cost
Value over - ✔✔price
How to speak so that people will want to listen (from speaker) - ✔✔- Dont gossip
- Dont judge
- Don't be negative
- Dont complain
- Don't make excuses/blame others
- Dont lie
- Dogmatism
HAIL - ✔✔to greet or acclaim enthusiastically
- Honesty: be clear and straight
- Authenticity: be yourself
- Integrity: be your word
- Love: wish them well
5 step sales process from Gannett - ✔✔- Plan and prepare: do a lot of research on the company
- Evaluate needs
- Build a solution
- Present and close
