Question
Explain SPANCO Sales process.
Answer :
Word Count : 524
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SPANCΟ is a systematic sales process used by salespersons to convert a potential customer into an actual buyer and develop a continuing relationship with the customer. In retail marketing, the process helps salespeople understand customer needs, present suitable products, overcome objections, and complete sales effectively. SPANCO stands for Suspect, Prospect, Approach, Need Creation, Close and Order, and it represents the major stages through which a salesperson guides a customer. The first stage is Suspect. A suspect is any person or organisation that may have a potential need for the retailer’s product or service. At this stage, the salesperson identifies a broad group of possible customers through market research, customer databases, social media, referrals, advertisements, or observation. Not every suspect will become a buyer, so the salesperson needs to collect basic information and identify customers who are likely to have purchasing potential. The second stage is Prospect. A prospect is a suspect who has been identified as having a genuine need, purchasing ability, and potential interest in the product. The salesperson qualifies prospects by considering factors such as their requirements, income or purchasing power,
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