Several methods are used to uncover the prospect's needs. These methods create the acronym L-O-C-A-T-E. Explain this acronym and how it is used by salespeople.
Answer: L-O-C-A-T-E is a convenient acronym for several methods frequently used to determine the buying needs that are most important to the consumer. These methods include:
a. Listen. Listening is useful because prospects may drop leading remarks, such as "I wish I had a T.V. like this one", that will tell the salesperson information that is helpful for determining the prospect's important needs.
b. Observe. Observing prospects and studying their surroundings is useful for determining consumer needs. Experienced salespeople can determine much about people by observing the way they dress or where they live and work.
c. Combine. A skillful salesperson will use combination of the L-O-C-A-T-E methods in order to uncover the prospect's needs. For example, they may talk to others, listen to the prospect, probe with questions, make careful observations, and empathize in their effort to determine the important needs of their prospect.
d. Ask questions. Questions often bring out needs that the prospect would not reveal or does not know. For example, when asking if buyer is interested in a quiet ceiling fan you might be surprised to find out that they like fans that make a steady rhythm to fall asleep to.
e. Talk to others. Ask others about a prospect's needs. For instance, ask an office manager's secretary about the manager's satisfaction with a copy machine.
f. Empathize. Looking at the situation from the customer's point of view can help you overcome many of the barriers to communication. It is always wise to adopt your customer's point of view to meet the customer's needs best.