TITLE

Monte Carlo Simulation Approach to Product Profile Analysis: A Consultative Selling Tool

AUTHOR(S)
Thompson, Kenneth N.
PUB. DATE
June 1989
SOURCE
Journal of Personal Selling & Sales Management;Summer89, Vol. 9 Issue 2, p1
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Industrial sales representatives are best viewed as territorial marketing managers. They are consultants tasked primarily with helping their clients make informed and better purchase decisions. Among the requirements for successful consultative sales performance in today's competitive industrial selling environment are: reps must identify key members of client's buying centers, they must accurately characterize the decision making process in buying centres. Sales techniques are needed that can help reps meet these requirements. Surprising, few sales tools have been suggested to aid reps in consultative selling. A particularly overlooked technique is Product Profile Analysis (PPA). First proposed as a consultative selling tool, the goal of PPA is to create an environment in which sales reps and clients can work together to build and, subsequently, apply linear compensatory purchasing models to aid buyers with product/vendor evaluation. Building on PPA's linear compensatory structure this article proposes a modified version of PPA (MOD-PPA) intended to enhance sales reps' consultative abilities. MOD-PPA places heavy reliance on the sales rep's use of a portable computer during the technique's model building and application phases. The emphasis on computers appears justified because of dramatic growth in their use by field sales people. The limitations of PPA can be overcome by incorporating Monte Carlo simulation into the model's application.
ACCESSION #
6652086

 

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