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Marketing and Sales

 
Started by : Shyam Kumar Singh, Leadership Role, ICICI Bank   09 01 2011 06:49:33 +0000
Functional Area : Consumer Sales(Sales & Marketing)
Activity:  6 views;  last activity : 09 01 2011 10:07:45 +0000

How would you teach your team to handle Objection and one of it Price objections raised.

Mostly Insurance, Plastic Cards, banks, etc face this problem in severly. or anything Product or Service.

Handling Such objection and predicting them in advance results excellence in sales and entire sales operation.

 
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1 Postpone until you have demonstrated the value of your product
2 Ask questions

Postpone until you have demonstrated the value of your product

idea posted by Shyam Kumar Singh Leadership Role, ICICI Bank

You can Just say, “It depends.”
or
“If I could get you a price that would fit your budget today, is this something you’d seriously like me to pursue for you?"

You get the idea. Before you give your price, you must qualify for interest.
If you get the feeling he/she isn’t serious about it now,
Tell Them it really depends on when you’re ready to buy give a min-max range

And ask them

"When you’re ready to look at some definite numbers, could I be the first person you call?”
And then get their contact info, any other buying information, and move on... That’s the way to handle any inquiry into the price of your product or service.

My advice is always to postpone talking about prices until after you have demonstrated the value of your product or service.

If people are informed of the price too early, they’ll make an instant judgment that can close their mind towards what you are telling them.

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Ask questions

idea posted by AMISH Writer - Administrator
Whenever the question of price comes, it is the marketing man takes over and puts the salesman on thesidelines. Because the inherrent values of the product needs to be highlighted. And therefore it is pertinent to ask relevant questions about the customers needs, likes and dislikes, assess his literacy levels - as to how knowledgeable he is about the product and its specs or his needs, and also get to define the parameters that are likely to win him over.
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How would you teach your team to handle Objection and one of it Price objections raised. Mostly Insurance, Plastic Cards, banks, etc face this problem in severly. or anything Product or Service. Handling Such objection and predicting them in...
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