Difference between revisions of "Maturity"
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Latest revision as of 20:29, 27 August 2020
In the four defined maturity phases in a product's life cycle the last phase is 'Maturity. By this time the technology has become a commodity and has near universal acceptance within the culture. You are considered eccentric if you don't use it. Advancements are greatly reduced and might face resistance. Choices of features and options diminish as they become standard to the essential product. Products are simple to use, even 'idiot proof'. But this causing the technology to be frozen, thereby creating opportunities for the next technical wave that will force its obsolescence.
| Phase | Description |
|---|---|
| Product | Complete and feature rich. Easy to use |
| Sales skills required | Captain and Crew |
| Customer characteristics | World Customers |
Contents
Customer characteristics
In Selling the wheel World customers are the last group of customers to target during the Maturity phase of the Maturity phases in a product's life cycle.
World Customers:
- Want a standard product at the best price
- Are buying the product that everybody buys
- Are very familiar with the product
- Examples are purchases and administrative staff in the business world. Most of retail.
A Captain and Crew is the best sales person for this type of customer.
Sales skills required
In Selling the wheel Captain and Crew is one of the different sales strategies a company can deploy.
The Captain and his Crew
| Type | Description |
|---|---|
| Character | Upbeat, Outgoing, Happy go lucky, Just average folks, similar to the customer |
| Major drives | Satisfied with making a decent living, Not an overachiever, Works to make the money to have fun on days off. |
| Important skills | All aspects of customer service. Must be able to handle 'social fatigue' so as to withstand constant contact with the public. |
Marketing
| Ideal company to image | Thrifty. Efficient/ Offering quality at an unbeatable low price. Universal Locations |
| To generate sales leads | Offer free product trials. Advertise. Use coupons and other price incentives. Deep discount grand openings |
| Qualifying customers | Got a credit card? C'mon in! |
Getting the sale
| Sales Presentation | Simple and short. An explanation of the features and options. The more skilled salespeople are able to highlight aspects of importance to the typical customer |
| Typical Objections | Is this the cheapest price? What happens if there is a problem after the sale? |
| Resolve by | Offering to meet or beat the competitors price. Offer money back guarantees. |
| Closing | Help the customer feel comfortable by the decision to buy. Empathize return policies. Price protection. Highlight reasons for the customer to buy. Make checkout easy. |
This sales strategy works best in the Maturity phase of the Maturity phases in a product's life cycle.