Product selling strategies that add value
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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

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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


Product selling model

Product-Selling Model

7.1

FIGURE


Product life cycle stages

Product Life Cycle Stages


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


Product selling strategies for positioning

Product-Selling Strategiesfor Positioning

7.2

FIGURE


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


The total product concept

The Total Product Concept

7.3

FIGURE


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