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Selling Today. 10 th Edition. CHAPTER. Manning and Reece. Product-Selling Strategies that Add Value. 7. Positioning and Differentiation. Positioning involves those decisions and activities intended to create and maintain a certain concept of the firm’s product in the customer’s mind

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product selling strategies that add value

Selling Today

10th Edition

CHAPTER

Manning and Reece

Product-Selling Strategies thatAdd Value

7

positioning and differentiation
Positioning and Differentiation
  • Positioning involves those decisions and activities intended to create and maintain a certain concept of the firm’s product in the customer’s mind
  • Differentiation refers to your ability to separate yourself and your product from that of your competitors. It is the key to building and maintaining a competitive advantage
value proposition
Value Proposition
  • The set of benefits and values the company promises to deliver to customers to satisfy their needs
  • A well-informed customer will usually choose the product that offers the most value
redefining products in the age of information
Redefining Products in the Age of Information
  • Products are problem-solving tools
  • People buy products if they fulfill a problem-solving need
  • Today’s better educated and more demanding customers are seeking a cluster of satisfactions
selling new versus mature products
Selling New versusMature Products
  • Nature and extent of each stage in product life cycle determined by:
    • Product’s perceived advantage over available substitutes
    • Product’s benefits and importance of needs met by product
    • Full spectrum of competitive activity
    • Changes in technology, fashion, and/or demographics
various forms of discounts
Various Forms of Discounts
  • Quantity: lower price for high quantity or dollar amount
  • Seasonal: price adjusted by time of year
  • Promotional allowance: give special price linked to special promotion or advertising campaign
  • Trade/functional discounts: given to wholesalers for special services
consequences of low price tactics
Consequences ofLow Price Tactics
  • High/low involvement buyers?
    • High emotional involvement with brand
    • Low-involvement buyers focus on price
  • Importance of quality?
    • Role of price—quality relationship in sale
  • Importance of service?
    • Many buyers, particularly business-to-business, rank service above absolute price
value added selling
Value-Added Selling
  • Progressive marketers add value with intangibles
    • Increased service and courtesy
    • Prompt deliveries, more innovations
  • Value-added approaches yield unique niche and competitive edge
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