{"id":3456,"date":"2020-09-11T04:30:23","date_gmt":"2020-09-11T09:30:23","guid":{"rendered":"https:\/\/top1.fm\/DailySalesTips\/?p=3456"},"modified":"2020-09-10T20:41:24","modified_gmt":"2020-09-11T01:41:24","slug":"sales-tip-601-why-buyers-behave-the-way-they-do-kraljic-matrix-series-part-1-mark-schenkius","status":"publish","type":"post","link":"https:\/\/top1.fm\/DailySalesTips\/sales-tip-601-why-buyers-behave-the-way-they-do-kraljic-matrix-series-part-1-mark-schenkius\/","title":{"rendered":"Sales Tip 601: Why Buyers Behave The Way They Do (Kraljic Matrix Series Part 1) – Mark Schenkius"},"content":{"rendered":"

\"\"“Help you understand why buyers behave the way they do and how this helps you as a sales professional.” – Mark Schenkius in today’s Tip 601<\/p>\n

Why buyers behave the way they do?<\/strong><\/p>\n

Join the conversation below<\/a> and learn more about Mark!<\/p>\n

ROI 10<\/a>
\nThe Other Side of Sales<\/a>
\nMark Schenkius on LinkedIn<\/a>
\nSubmit a Sales Tip<\/a><\/p>\n

Have feedback? Want to share a sales tip? Call or text the Sales Success Hotline: 512-777-1442<\/strong> or Email: scott@top1.fm<\/strong><\/p>\n

Transcript<\/h3>\n

Scott Ingram: You\u2019re listening to the Daily Sales Tips podcast and I\u2019m your host, Scott Ingram. Today Mark Schenkius is back with the start of a 5 part series. Mark is the founder of ROI 10 where he helps sales professionals get better at dealing with buyers, and he\u2019s also the author of \u201cThe Other Side of Sales<\/a>,\u201d where he shares his perspective after 15 years in procurement. Here he is:<\/p>\n

Mark Schenkius: Hi everyone, I\u2019m here to kick off a series of tips that I hope you find helpful.<\/p>\n

Over the coming period, I\u2019ll share the ins and outs of the number one tool that professional buyers use in their jobs. For you, as a sales professional, this will be a tremendous asset since it will answer the fundamental question why buyers behave the way they do.<\/p>\n

The tool is called Kraljic\u2019 Purchasing Portfolio Matrix. It was developed by Peter Kraljic in the early 1980s and even now, almost 40 years later, it is still widely used by buyers around the world.<\/p>\n

The first step is to make 2 relatively simple assessments:<\/p>\n

A buyer\u2019s first step is to look at \u201cfinancial impact\u201d. This describes the impact of a supply item upon the bottom line. You can choose either high or low. An example of high financial impact could be cocoa for a chocolate company. An example of low financial impact could be office cleaning services for that exact same company.<\/p>\n

Secondly, buyer\u2019s look at \u201csupply risk\u201d. This describes the risk of that specific item on the buyer\u2019s supply chain. This can be considered high when the item is a scarce raw material, when its availability could be affected by government instability or when there are few suppliers. Supply risk is low when it\u2019s easily available on the market.<\/p>\n

When combining financial impact with supply risk, this generates 4 different options. Each option represents a different buyer-supplier relationship and therefore suggests a different sourcing strategy.<\/p>\n

Over the next couple of weeks, I\u2019ll cover each of these 4 options in more detail, and more importantly, help you understand why buyers behave the way they do and how this helps you as a sales professional. I promise it\u2019s going to be insightful.<\/p>\n

Happy negotiations everyone!<\/p>\n

Scott Ingram: For more about Mark and his book \u201cThe Other Side of Sales<\/a>,\u201d click over to DailySales.Tips\/601<\/a> and we\u2019ll have everything for you there including a transcript of his tip.<\/p>\n

Then make sure you\u2019re subscribed to the podcast so you don\u2019t miss the rest of Mark\u2019s series with the next part coming next Friday. Of course you should also come back tomorrow for another great sales tip. Thanks for listening!<\/p>\n","protected":false},"excerpt":{"rendered":"

“Help you understand why buyers behave the way they do and how this helps you as a sales professional.” – Mark Schenkius in today’s Tip 601 Why buyers behave the way they do? Join the conversation below and learn more about Mark! 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