Performance Indicator 2



MKT Performance Indicator 2.08 Note Guide

Analyze product information to identify product features and benefits.

Product Knowledge - Sources of Product information:

A. Formal Training comes from:

1. The company in a

2. B2B from the vendor you bought it from (information like how the product is made)

B. Informal Training comes from:

1. Brief training during the day

2. From with a more experienced salesperson on the sales floor

3. A B2B sales representative on the sales floor in a

C. Learning on YOUR OWN

1. From an inexperienced salesperson to an experienced sales presentation to a customer on the sales floor

2. Product itself: Ask if you can have a . While cleaning the jewelry in the case, touch it, read the tag, compare it to other items

3. Printed Sources: Read the that come with the mower on how to operate it, or the instructions on how to set and care for the watch when it is being received (checked into your store)

i. Manufactures detail new products in publications and

ii. Manufacturers send , samples and training aids

iii. such as Consumer Reports magazines give different perspectives

iv. Other

4. The Internet:

i. can search key words and provide vast amounts of knowledge

ii. Vendor or manufacturer home

5. People:

i. (If a new salesperson does not know how to answer customers questions they should ask a more experienced salesperson for help)

ii. Testimonials from that have purchased the item

iii. of products that are in direct competition with your product will usually provide your with the” bad and the ugly” about your product.

Importance of Product Information

A. A salesperson must have adequate knowledge of the products features and benefits to be able the customer’s needs and wants.

B. It is key to a successful presentation of any product…the more , the more important these skills are in closing the sale.

Guidelines to Follow when Acquiring Product Knowledge

A. Decide which features and benefits appeal to each customer.

B. Customers , not the feature.

C. Different customers want from the same product.

D. Listen, question, and observe the customer to determine customer needs and desire.

E. You only need to explain the benefits that pertain to the .

Features and Benefits

A. Feature: a or quality of a product.

a. It is something the customer can , feel, smell, , or measure

b. It helps describe the product.

c. A feature answers the question, “ ?”

• Ex: color, style, size

A. Benefit: the or advantage that a customer wants from a product.

a. It is how the feature a particular buyer

b. For customers, it answers the questions:

• How will I benefit?

• ?

Feature-Benefit Selling

A. Prove to customers your product has features that

B. Customers buy benefits-not features

C. Compare to

D. Determine what each customer is looking for in a good or service

Types of Benefits

A. Obvious or apparent benefits

a. Advantages that need by the salesperson.

b. The customer already knows the benefit

i. Ex: Zipper on a purse

1. What is the obvious benefit?

c. Even if benefits are obvious, salespeople should and use them to prove the value of the product to customers

B. Unique or exclusive benefits

a. Advantages that are available , service or business.

b. Is a selling advantage over your

i. Ex: a car that “ ” itself is a novelty

1. Offers a huge benefits to customers that have trouble parallel parking

C. Hidden benefits

a. Advantages that or understood without the assistance of a salesperson

i. Ex: buying a pair of shoes

1. You can see the color and style

2. You can not see how they are until persuaded to try them on

ii. Ex: purchasing a computer

1. /24-hour

Creating a Feature-Benefit Chart

A. Step 1: Find your product’s features

← :

o What is the material?

o Who makes it?

o How is it made?

o What’s the difference between these two items?

←

o Appearance is a dominant factor in many

o Customers consider color, line, and design in everything they buy – cars, clothes, accessories, appliances, furniture, etc.

← or Novel Features: Having desirable features that your competitor does not have

← : How long a product will last and give dependable service

← : What the product will do and how it can be used

← and Warranty: Especially important when selling products such as appliances, electronics, and cars

B. Step 2: Know where to get facts about product features

← The itself: Use the product and information provided

← Customers: Testimonials

← Manufacturer’s and publications

← Other sales personnel

← Promotional materials: Product bulletins, Catalogs/

C. Step 3: Create a feature-benefit chart

← After you know what type of information you need and where to obtain the facts about your products, prepare a feature-benefit chart

o List all the product’s , beginning with the ones that a customer or client will

o List the less-obvious or

o For each feature that you identified, ask, “what does this mean for the customer?”

o Write each beside its feature

o A feature can provide benefit

Sample Feature-Benefit Chart

|Product |Features |Benefits (What do they mean?) |

| |(What are they?) | |

|Computer |Variety of models |You will be able to select different components to build a system that meets your specific needs |

|  |Monitor size |Large monitors that come with these computers enable you to see the entire page. Gives a clear understanding |

| | |of how the document looks |

|  |Memory |These models can be loaded with sufficient memory so your computer can handle any program |

|  |Print capability |Handle all your printing needs in your home or office |

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