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LG Electronics MBA 9120 manual

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Table of contents for the manual

  • Page 1

    LG Electronics: Internet Refrigerator Sales Manual MBA 9120 Capella University May 16, 2003 by David A. Jecker[...]

  • Page 2

    2 Table of Contents PRODUCT/SERVICE INFORMATION .............................................................................................. 4 P RODUCT OR S ERVICE D ESCRIPTION ............................................................................................................... 4 C OMPANY D ESCRIPTION ...................................[...]

  • Page 3

    3 W HAT W ILL Y OU S AY ? ................................................................................................................................. 12 1. Product Demonstration ...................................................................................................... .............. 12 2. Customer Benefit .........................[...]

  • Page 4

    4 PRODUCT/SERVICE INFORMATION Company Name: LG Elelectronics Product Name: Internet Refrigerator Product or Service Description Company Description This internet refrigerator is the latest in technological and ergonomic design. The fridge combines TV, internet, radio, messaging, cookbook features and more into a revolutionary new interactive produc[...]

  • Page 5

    5 PERSONAL SELLING PHILOSOPHY Company Name: LG Electronics ____ Product Name: LG Internet Refrigerator My Personal Selling Philosophy Market Setting: The overall market setting for the Internet refrigerator is a very limited market at this time due to the relatively high cost of the appliance. Currently, I woul d place this item in the realm of the[...]

  • Page 6

    6 RELATIONSHIP STRATEGY Company Name: LG Electronics_______ Product Name: LG Internet Refrigerator My Relationship Strategy Typical sales-customer relationship: The relationship that develops between the salesperson and the client should certainly be one of utmost professionalism. The product being sold, although it is a refrigerator, is a very hig[...]

  • Page 7

    7 Own Communication style: Everyone must develop their own communication style. As we grow, over the years, we are encouraged or discouraged in ways in which to communicate. It is on ly when we are able to objectively judge ourselves in a quest for betterment that we truly can shed much of what we have been told and find what we truly believe. This[...]

  • Page 8

    8 PRODUCT and FEATURE BENEFITS Brief Company description: Beginning with LG Chemicals in 1947 and LG Electronics in 1958, LG currently consists of 47 affiliated companies in four business fields: Chemicals & En ergy, Electronics and Telecommunications, Finance, and Service with 300 worldwide offices and subsidiaries and 130,000 employees. Since[...]

  • Page 9

    9 Has a stored food function for tracking expiration dates. Customer can safely store food in the fridge or freezer for a set time period with safety. Finger-proof Titanium finish Allows for less time cleaning finger-prints and for more time enjoying the “futuristic elegance,” and functionality of this unparalleled Has the latest technological [...]

  • Page 10

    10 CUSTOMER STRATEGY Typical buying motives of prospect: The primary motive for this type of product, namely a refrigerator, is one of need. There are very few households or businesses today that do not have a refrigerator—I have seen a fully equipped house with wealthy inhabitants that would eat out everyday and had no refrigerator. This product[...]

  • Page 11

    11 List of Prospects & Decision-making method used Potential Sales Volume I believe that the overall pattern of the decision making process of this product is really a combination of the Buyer Action and Buyer Resolution theories. However, why and when should I buy would, or could, fall out of the process because it would indicate a need (not t[...]

  • Page 12

    12 BUSINESS CONTACT Company Name: LG Electronics Product Name: Internet refrigerator (IR) Presentation Objectives : To Individual and/or personal group.  Create interest in product by communicating the technological advances in both the functional product design and the interactive features.  Further interest by demonstrating how the integrat[...]

  • Page 13

    13 3. Referral Entertainment/Business “Chef Bobby Flay’s producer, Mrs. Diana Goldfinger*, was so impressed with the features of our IR that she suggested setting up a meeting with you in order to discuss how this technology could also benefit you and your clients” *fictional name Personal “Mr. Jolly was so excited with our IR that he insis[...]

  • Page 14

    14 NEED DISCOVERY Company Name: LG Electronics________ Product Name: Internet refrigerator (IR) Preplanned Questions to Discover Buying Motives Customer Response 1. How did you first learn of the IR? “I first saw the product at the Home in Garden show in Orlando, Florida, and then again in Miami” 2. Have your purchased other LG products? “I h[...]

  • Page 15

    15 DEMONSTRATION Company Name: LG Electronics Product Name: Internet refrigerator (IR) Selling tools to be used: The best selling tool to use is the unit itself. Since most sales will be made in- house, the physical product, along with its built-in tutorial, and any additional print communications will be extremely helpful. The premium tool is the [...]

  • Page 16

    16 Calendar “In today’s world the need for your family to stay somewhat organized and synchronized is very important. With the calendar, different family members can keep up with one another’s immediate or future plans” Walk them through the various functions Messages “In building upon the necessity to stay connected and updated, the mess[...]

  • Page 17

    17 NEGOTIATIONS Company Name: LG Electronics _______ Product Name: Internet refrigerator (IR) _ Customer’s Concern Type of Concern Possible Response Price is too high Price “The price includes the ability to have many functional household appliances built into the most technologically advanced kitchen product available on the market” I am not[...]

  • Page 18

    18 I would need someone to set up the unit at my house Time/Product/Price “Included in the delivery fee is the cost of the setup. All of our people have the capability and are certified to install the unit.” XYZ always provided a warranty of 1 yr parts and labor and 3 years on the other sealed portions. Product/Source “We also offer the 1 yea[...]

  • Page 19

    19 CLOSING Company Name: LG Electronics ________ Product Name: Internet refrigerator (IR) Closing Clue (Prospect) Closing Method Closing Statement (Salesperson) What kind of financing do you offer? Multiple option “Currently we have several options available: We have a seasonal event that allows you to make no payments until 8 months from now and[...]

  • Page 20

    20 we give you a 14 day trial period in which you can return the product to us for any reason. Your money will be refunded with no questions asked.” A couple takes a minute and gives a noticeable smile and show of excitement Assumption “If you like I can check the availability of delivery to your area as well as get the financing approved, or d[...]

  • Page 21

    21 SERVICING THE SALE Company Name: LG Electronics ________ Product Name: Internet refrigerator (IR) Method of Adding Value What Will I Say or Do for the Customer Post-sale Courtesy Contacts (Frequency, Items to discuss, New offerings) Suggestion Selling: Suggest other products offered by LG Electronics Cross-Selling: Offer other products to custom[...]