Audio Transcript
Introduction
Hi!
Doctor Mac here.
Welcome to another session of Hospitality Sales Management
This is
PHASE TWO: Supply and Demand Strategy
Step # 3: Product/Service Management
Topic 1: Know Your Product/Service
Body
In the last session, you completed Step # 2 of the 8 step Consultative Selling Model. Step # 2 taught you the importance of Personal Management. Over 4 topics you became familiar with:
1. Professional Selling and Your Career
2. Essential Personal & Team Skills
3. Ethics and
4. Personal Communication Styles
This information provided you knowledge and perspective of the necesessity to develop personally in order to develop professionally. Successful professionals are first successfully developed persons.
We now will move to a new Phase and Step of the Consultative Selling Model.
Phase Two is concerned with strategies that understand and focus on Supply
(the selling company) and Demand (the buying customers.
Step # 3: Product/Service Management focuses on "supply."
In topic # 1 you will learn how to become a product expert. You will
learn that your products and services are "problem-solving" tools
to help satisfy customer needs.
The purpose of this topic is to develop your perspective away from products
and services as solely physical features.
When you have completed this topic, you should:
- Be able to translate product/service features into customer satisfying benefits.
- Know that "competitive-advantage" comes from being able to "differentiate" your offering from competitor's offerings.
- Know that "differentiation" comes from your intimately understanding your customer's view of the value provided by your product/service.
- Understand that the customer will choose the product/service from among all competitors based on his or her judgement of total value received.
Close
In this topic, you learned that customers buy the greatest amount of
value received. The salesperson's job is to accurately communicate how their
product/service increases value to the customer.
The next discussion starts a new step #4: Customer Management. We will
continue learning how the customer is motivated to buy based on perception of
Total Value Received from a product/service.
So, let's get to work!
This is Dr. Mac saying, "Persevere and be of good cheer!"
Reading time: Approximately 2 minutes.
Send E-mail to Richard G McNeill Ed.D., CHME
or call (520) 523-1713
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Northern Arizona University
ALL RIGHTS RESERVED
