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Value, Marketing, Selling, Value Propositions, Value Adding, Sales
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Value Propositionprice ≠ value
Dr Bryan Mills BEIT
Benefit
EmotionPrice
Price Emotion
Benefit
• People are most receptive if the information that is offered matches their needs:
• either conscious needs or the latent desires generated by their immediate surroundings. Even now the most valuable content is user generated: “Honey, I’ll be home late tonight”
• Rogers’ Innovation ACCORD model:
–Relative Advantage to what it replaces
–Compatibility with current behaviors
–Complexity of communicating the benefits
–Observability of the products benefits
–Risk of product failure
–Divisibility or trialability
innovators, early adopters, early majority, late majority, and laggards
Understanding the Value Proposition
– What benefits are they willing to pay for?
– Functional attributes defining “quality”
– Added benefits or services beyond product
– Economic benefits
– Psychological benefits
Seven!• Consumers rate these issues as “important”
Quality of the product
Brand recognition
Follow-up support (trouble-free ownership)
Reputation of the product and the company that makes it
Terms
Delivery and installation: dependable
Price
Seven Steps of Successful Selling
Prospecting and Getting CustomersBuild Rapport and TrustIdentifying Customer NeedsPresenting SolutionsAnswering ObjectionsGet A CommitmentFollow Through/Follow Up
“Old” Model of Selling
10%Establishing
Rapport
20%Qualifying
30%“Selling” (Presenting)
40%Closing
“New” Model of Selling
40%Developing Trust and Rapport
30%Defining Needs &
Problems20%
Describing Features & Benefits
10%Closing
Types of Questions
Closed End Question“May I help you?”
Open End Question
“What are you looking for today?”
High Value Question
“What are the three things you like least about…?”
Need Payoff Question“Would it be useful to you to cut the amount of time you..?”
“Master your instrument, master the music, and then forget all that crap and just play” Charlie Parker
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