Sales occur only when you effectively influence buyers’ thoughts, emotions, logical reasoning, and decision-making processes. 18 % of the sales fail in the last step. Only 2% of the sales happen at the first meeting meaning remaining 98% of the sales occur once the buyer has built up certain level of trust in the seller. Nobody will buy anything if the person trying to sell doesn’t believe in their product. Confident salespeople are successful for a reason. Buyers need to be convinced. Show them how your solution will help them achieve their desired outcome. Tip #1 Instead of waking up thinking, “I need to close X sales”, you should think, “I need to find X people I can help today.” Feel the difference? Tip #2 It is harder for humans to make choices if we’re presented with too many options. A study found that while more variety draws us in, it fails to convert interests into purchases. So be careful, don’t overwhelm your customers. Tip #3 Creating the fear of ” missing out on a great opportunity” among customers is an oldest and still working trick to increase your sales. Tip #4 For luxury brands, ruder the sales staff, the higher the sales. Tip #5 Some products lose their buying value if they are put on a discount or an offer. They have an upward sloping demand curve & are mostly looked upon as status symbol. These are called Veblen goods and this psychological effects is called the veblen effect. Tip #6 Drinking coffee before shopping results in spree buying. Infact caffeinated drinks trigger “energetic arousal” in us and increase purchase intentions for hedonic products such as buttery, salty popcorn, chocolate candy and luxury vacation. Well, see to it a coffee shop is nearby your store. Or offer good coffee to your customers bearing this tip in mind! Tip #7 More than 50% of the consumers will enter a store that has a “Sale” sign. Tip #8 60% are more likely to buy if the word “guaranteed” is associated with their purchase. Tip #9 90% of people said positive online reviews influenced them to buy.25% are more likely to buy if they received follow up information on a product. Tip #10 Customers like “consistency” but they also like surprises. Majority of global consumers are likely to switch brands to one associated with good cause. Dont sell logic, sell emotions and desires Dont let your prospect lead the conversation. Push emotional triggers and find out where it hurts. Use powerful words and build massive certainty in customer’s...

Stability Strategy in Management  The Concept: A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas. In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives.     When a product is well accepted and has a brand value in the market, the company would want to expand its market base in that particular product segment to win over its competitors. For example, ‘Old Cinthol’ from Godrej, continues to be the trusted choice of most customers and one of the top most brands in soaps. Especially in rural areas, people prefer Cinthol which comes in different sizes in lieu of customer preference.     Panneer Soda manufactured by Kalimark, a soft drink available only in southern parts of Tamilnadu is again a long-standing brand preferred by customers belonging to middle class and lower middle class. This indigenous brand is a direct competitor for coke and pepsi, the soft drink giants in the industry. The same applies to “BOVONTO” again a kalimark product whose growth terrorised giants in the likes of COKE and PEPSI. It is said that some of the multi-national companies tried to crush this small but indigenous and successful company by buying all the glass bottles used for bottling the drink from small retailers. All done by paying high price for old bottles and breaking them so that those bottles were not available for the kalimark manufacturers. Putting up a brave fight, Kalimark has introduced pet bottles (plastic containers) and for managing the dearth of containers they have erected a bottling plant also. Recently Kalimark group has reinvented itself with modern technology for production. The shape of Bovonto pet bottle was redesigned and production was increased. Related Posts: TURNAROUND STRATEGY STRATEGY EVALUATION TACTICS OR STRATEGY The Need for Stability Strategy: It continues to serve the customers in the same product or service, market and functional sectors. Its main strategic decisions  focus on incremental improvement of functional performance.’ The focus is on maintaining and developing competitive advantages consistent with the present resources and market requirements. Say, if your business is doing well and you are able to factorize the economies of scale with a fairly decent profit, you would not want to go for expansion in the immediate future; instead you would go for, Sustenance Competitor management and Market share Maintenance Man has an inbuilt fear of change and only very few take that extra step to rage forward by being risk-aversive. Stability strategy suits medium-sized growing firms which have to first get well established in the market and wait for the right time to invest and divest. Companies do not go beyond what they are presently doing; they serve the same market with the present products using the existing technology. The essence of stability strategy is, therefore, not doing anything but sustaining a moderate growth in line with the existing trends. Advantages of Stability Strategy: The firm is successfully run and the objectives are achieved and there is satisfactory performance. Therefore, the management may want to continue with the same activities. A stability strategy is less risky. Unless the conditions are really bad, a firm need not take any additional risks. The management doesn’t foresee any change in the environment or opportunity in the market or any threat. When pursuing this strategy, there is no disruption in routine work. The down side of this strategy may be “setting of boredom” where you tend to do routine stuff, but the brighter side is the continuous positive response...