Major Sales

REPORT SUMMARY

MAJOR SALES : WHO REALLY DOES THE BUYING

Arun G Antony (P13111)

EXECUTIVE SUMMARY

The Study helps us to answer the following questions. Who really does the buying? When is a buyer not really a buyer? Does best product at the lowest price turns buyer off?

The reality of buying is not often what it seems. It’s more than just buying and selling. Psychological and emotional factors play crucial roles in the process of nailing a deal. Selling strategies often fail, because management has an incomplete understanding of buying psychology. By failing to observe these less tangible aspects of selling, a vendor can lose sales without understanding why Buyers pay attention to vendors who understand them and their needs.

Psychology can be used to improve sales effectiveness. How? Companies don't buy; people do. Who are the important buyers and what they want? Question: Many individuals are involved in most major purchases. The outcome of their interaction may be unpredictable.

Effective selling requires combining the individual and grouping dynamic:

1. who is in the buying center? Power does not correlate perfectly with organizational rank.

2. Who are the powerful buyers? Different types of Power: Power is often invisible for Questions.

3. What do they want? All buyers act selfishly or try to be selfish but sometimes miscalculate and don’t serve their own interests. Attempt to maximize their gains and minimize their losses. Customers don’t want all promised benefits.

4. How do they perceive us? Gather and apply psychological intelligence. No formula for placing sound psychological analyses magically in the sales staff's mind

* Make productive sales calls a norm, not an oddity. Make sure that sales calls are highly productive and informative.

* Listen to the sales force. Why should they even bother gathering intelligence if the management does not want to hear about it? Sellers must understand buying!!...