Closing the Sale

Posted in Marketing and Strategy Terms, Total Reads: 1759
Advertisements

Definition: Closing the Sale

Closing a sale, an important part of personal selling process refers to completing a sales transaction – it is the final step while making a sales call to the customer.  It effectively refers to the customer signing on the dotted line of the agreement completing the sale.  

Salespersons are generally evaluated by their ability to close sales. Some of the most common closing techniques include:

  • Assumptive closing: This technique assumes that the customer is going to make a purchase – the sales person will ask the customer what he is going to do to complete the sale.
  • Direct close: the sales person simply asks the customer directly for the order.
  • Duke of Wellington close:
  • Ben Franklin close:   the sales person makes a list of positives and negatives of owning the product and the sales person ensures that the list of positives is longer than the negatives.
  • Duke of Wellington close: the sales person makes a list of the benefits and cautions regarding ownership of product and slowly turns all the negative aspects into benefits
  • Possibility of loss close: The sales person explains to the customer about the loss involved by not buying the product to achieve a close
  •  Puppy dog close: The technique of closing by providing a trial of the product before subsequent purchase.

 

Hence, this concludes the definition of Closing the Sale along with its overview.

Advertisements

Browse the definition and meaning of more terms similar to Closing the Sale. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary



Share this Page on: