Marketing Chapter 14 Review

Layman’s Terms
Words the average customer can understand.
Objections
Concerns, hesitations, doubts, or other honest reasons a customer has for not making a purchase.
Excuses
Reasons for not buying or not seeing the salesperson.
Objection analysis shet
A document that lists common objections and possible reponses to them.
Need
Objections related to need usually occur when the customer does not have an immediate need for the item or wants the item but does not truly need it.
Product
Objections based on the product itself concertn things such as construction, ease of use, quality, color, size, or style.
Source
Objections based on source often occur because of negative past experiences with the firm or brand.
Price
Objections based on price ar emore common with expensive merchandise.
Paraphrase
To restate something in a different way.
Substitution Method
Involves recommending a different product that would satisfy the customer’s needs.
Boomerang Method
Bring the objection back to the customer as a selling point.
Superior-point Method
A technique that permits the salesperson to acknowledge objections as valid yet still offset them with other features and benefits.
Third-party Method
Involves using a previous customer or another neutral person who can give a testimonial about the product.