Use the following tips along with the instructions and information included in The Marketing Plan for Independent Inventors or The Business Plan for Independent Inventors to customer desires.
PRICE / QUALITY MATRIX SALES APPEALS
| PRICE/QUALITY | HIGH | MEDIUM | LOW |
| HIGH | "Rolls Royce" Strategy | "We Try Harder" Strategy | "Best Buy" Strategy |
| MEDIUM | "Out Performs" Strategy | "Piece of the Rock" Strategy | "Smart Shopper" Strategy |
| LOW | "Feature Packed" Strategy | "Keeps on Ticking" Strategy | "Bargain Hunter" Strategy |
MARKETING PLAN - TIPS, TRICKS & TRAPS
1. Marketing Steps
- Classifying Your Customers' Needs
- Targeting Your Customer(s)
- Examining Your "Niche"
- Identifying Your Competitors
- Assessing and Managing Your Available Resources
- Financial
- Human
- Material
- Production
- Follower versus Leader
- Quality versus Price
- Innovator versus Adaptor
- Customer versus Product
- International versus Domestic
- Private Sector versus Government
Use Customer-Oriented Selling Approach - By Constructing Agreement
Phase One: Establish Rapport with Customer - by agreeing to discuss what the customer wants to achieve.
Phase Two: Determine Customer Objective and Situational Factors - by agreeing on what the customer wants to achieve and those factors in the environment that will influence these results.
Phase Three: Recommend a Customer Action Plan - by agreeing that using your product will indeed achieve what customer wants.
Phase Four: Obtaining Customer Commitment - By agreeing that the customer will acquire your product.
Emphasize Customer Advantage
Must be Read: When a competitive advantage can not be demonstrated, it will not translate into a benefit.
Must be Important to the Customer: When the perception of competitive advantage varies between supplier and customer, the customer wins.
Must be Specific: When a competitive advantage lacks specificity, it translates into mere puffery and is ignored.
Must be Promotable: When a competitive advantage is proven, it is essential that your customer know it, lest it not exist at all.
4. Benefits vs. Features
The six "O's" of organizing Customer
Buying Behavior
| ORIGINS of purchase: | Who buys it? |
| OBJECTIVES of purchase: | What do they need/buy? |
| OCCASIONS of purchase: | When do they buy it? |
| OUTLETS of purchase: | Where do they buy it? |
| OBJECTIVES of purchase: | Why do they buy it? |
| OPERATIONS of purchase: | How do they buy it? |
Convert features to benefits using the "...Which Means..." Transition
Sales Maxim:
"Unless the proposition appeals to
their
INTEREST, unless it satisfies their
DESIRES, and unless it shows them
a
GAIN--then they will not buy!"
Quality Customer Leads:
Level of need
Ability to pay
Authority to pay
Accessibility
Sympathetic attitude
Business history
One-source buyer
Reputation (price or quality buyer)
CONVERT FEATURES INTO BENEFITS
THE "...WHICH MEANS..." TRANSITION
| FEATURES | "WHICH MEANS" | BENEFITS |
| Performance | Time Saved | |
| Reputation | Reduced Cost | |
| Components | Prestige | |
| Colors | Bigger Savings | |
| Sizes | Greater Profits | |
| Exclusive | Greater Convenience | |
| Uses | Uniform Production | |
| Applications | Uniform Accuracy | |
| Ruggedness | Continuous Output | |
| Delivery | Leadership | |
| Service | Increased Sales | |
| Price | Economy of Use | |
| Design | Ease of Use | |
| Availability | Reduced Inventory | |
| Installation | Low Operating Cost | |
| Promotion | Simplicity | |
| Lab Tests | Reduced Upkeep | |
| Terms | Reduced Waste | |
| Workmanship | Long Life |
BUYING MOTIVES
| RATIONAL | EMOTIONAL |
| Economy of Purchase
Economy of Use Efficient Profits Increased Profits Durability Accurate Performance Labor-Saving Time-Saving Simple Construction Simple Operation Ease of Repair Ease of Installation Space-Saving Increased Production Availability Complete Servicing Good Workmanship Low Maintenance Thorough Research Desire to be Unique Curiosity |
Pride of Appearance
Pride of Ownership Desire of Prestige Desire for Recognition Desire to Imitate Desire for Variety Safety Fear Desire to Create Desire for Security Convenience Desire to Be Unique Curiosity |
