A short time ago, I was asked to prepare a sales forecast for a product launch by a top-tier corporate executive. The forecast included some very interesting facts about the product launch and I was asked to “Interpret” it with the help of a SOP (section 2 Reinforcement Acceleration Worksheet). What I saw during my research is that the company planned to implement the following activities: a nationwide road show, a small conference call with key executives and key retailers, and some pre-launch promotional items. The SOPs that are used in these activities are not at all what they appear to be.
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The activities on the worksheet include giving away a product sample and launching an Internet website that contains information about the product. All of these elements are great, but the best one is giving the customer a free item as a means of gaining their business. This makes perfect sense, but if you fail to properly explain this to your customer then you are doomed for failure.
The problem that I see in many product launches is that the product description does not provide enough information for the customer to understand the reasons for purchasing the product. This usually leads to confusion amongst potential buyers and often leads to buyer’s remorse. In most cases, the customer will pass on the product and they don’t get a chance to hear an explanation about why they made the purchase.
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The next thing that you want to accomplish with the SOP is to get an “A” on the worksheet. If you don’t have an “A” then the SOP should be modified to include an explanation about why the product makes sense for the company. The worksheet should not only include the reasons for the product being offered but also provide a “B” for why the company will use the product.
If you add a paragraph that is a recap of the product and provides a good reason why the customer should purchase it then you are on the right track. Be sure to include any strengths of the product and provide an explanation about why the customer should choose the product over another competitor. You want to be clear about the difference between this product and the competition. If you get a “C” then you are off to a good start but you need to be able to give a good explanation as to why the customer should choose you company over the others. Again, if the product description doesn’t do this for you, then you need to modify the worksheet to address these needs.
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The final step is to turn the tables on the customer and present them with the results from the customer satisfaction survey. The results should show that they have a much lower opinion of your company than the others that were listed. They may even have a lower opinion than your competitors. The goal is to have the customer come back to you because they felt good about buying from you.
The best way to accomplish this is by using the customer satisfaction survey worksheet. This worksheet will identify all of the topics that were discussed during the survey and list the results. It is important to put the customers’ name in the cell that contains the best answer. Then all that the customer has to do is type in their name into the cell and the worksheet will spit out all of the answers that pertain to that person. It will then drop down on the appropriate section of the worksheet.
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The last step is to use the worksheet to compare your products. The customer satisfaction survey worksheet can also be used to compare your pricing. Include all the information that pertains to your pricing on each section. You will quickly see how effective this section of your sales presentation is at increasing your sales and your profits.
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