Course 3
Putting The Kelley Blue Book® Price Advisor into Practice
Now that you’ve spent time learning what the Kelley Blue Book® Price Advisor is, what data goes into the price ranges, and how to help your customers discover the Kelley Blue Book® Fair Market Range, let’s put it all together.
Putting It Into Practice
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Section 
Speaking the Same Price Language
We often find that customers have one understanding of what something means and we, as salespeople, have another
Kelley Blue Book® Price Advisor = Neutrality
The Kelley Blue Book® Price Advisor gives you a neutral place to have an upfront understanding about market pricing and then the rest of the conversation is about the type of vehicle and options the customer wants and why you are the right dealership and person to buy from.
Kelley Blue Book® + You + Your Customer = Same Price Language
Helping you and your customers speak the same price language is what the Kelley Blue Book® Price Advisor is all about. Learning what the Kelley Blue Book® Price Advisor can do – and practicing using it – gives you the necessary skills to manage any challenging price conversation.
Knowledge + Understanding = Confidence
Once you know each of the Kelley Blue Book® Price Advisor zones and why vehicles are priced within those zones, you’ll have the confidence to be able to share this information with your customers, be able to speak a shared language and respond to any questions or concerns your customers have.
The Kelley Blue Book® Price Advisor is updated weekly and provides pricing guidance in 101 different regions across the nation based on actual sales transactions.
The foundation for the Kelley Blue Book® Price Advisor is based on a number of different factors including: actual recent sales transactions of fully configured vehicles, local geographic data and on used vehicles includes consideration of mileage, color, age, and demand to determine the Kelly Blue Book Fair Market Range.
Kelley Blue Book® Price Advisor Elements
White zone represents pricing below the Kelley Blue Book® Fair Market Range
Green zone represents the Kelley Blue Book® Fair Market Range
The red zone represents pricing above the Kelley Blue Book® Fair Market Range
The White Zone: below Kelley Blue Book® Fair Market Range
The white zone represents pricing that falls below the Kelley Blue Book® Fair Market Range.
Special circumstances such as retiring model years, unpopular color, excess inventory and seasonality may all be contributing factors to sales that occur in this range.
The Green Zone: Kelley Blue Book® Fair Market Range
The green zone represents the Kelley Blue Book® Fair Market Range, which is Kelley Blue Book’s estimate of what a consumer can reasonably expect to pay this week in their area for a vehicle configured with their selected options, excluding taxes, title, fees and any available rebates or incentives. Each dealer sets and controls its own pricing.
The Kelley Blue Book® Fair Market Range is updated weekly and aggregates vehicle transaction data for the region related to the location of the vehicle and adjusts for local market conditions. You might notice a Kelley Blue Book® Fair Market Range difference for the same vehicle in different locations.
The Red Zone: above Kelley Blue Book® Fair Market Range
The red zone represents pricing that falls above the Kelley Blue Book® Fair Market Range.
Special circumstances such as exceptionally low supply with high demand, options installed by the dealership, credit, and seasonality may all be contributing factors to sales that occur in this range.
Section 
Using Kelley Blue Book® Price Advisor To Support Sales
Great sales people are prepared with a process before they first connect with a customer
Sales people are also good listeners who know how to adapt their selling style based on what they hear.
Once you’ve gotten your customer’s attention, you must overcome the #1 resistance point that customer’s express about buying a car – negotiating price.1
12016 Cox Automotive Car Buyer Journey Study
Section 
The Kelley Blue Book® Price Advisor Advantage
The goal is to create a more transparent and confident vehicle shopping experience
The Kelley Blue Book® Price Advisor Advantage:
Help customers make the right decisions during the vehicle shopping process.
Enhances the customer’s ability to discover a fair price.
Provides customers with useful info to make a confident buying decision.
At Kelley Blue Book We Are Here To Help
Check out more info at b2b.kbb.com to explore a variety of different concepts related to your business.
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