Selling Final

Front 1

3 guidelines for ethical behavior

Back 1

universal nature (golden rule)
truth telling
responsibility for actions

Front 2

groupthink

Back 2

pressure exerted to be a part of group; not bucking the system and being a team player

Front 3

5 checkpoints for ethical decision making

Back 3

1) is it legal
2) is it fair to all concerned
3) would i want somebody to act this way to me
4) how would i explain my actions to someone else
5) how will it make me feel about myself

Front 4

sherman antitrust act

Back 4

prohibits contracts, combinations, or conspiracies in restraint of trade
prohibits monopolies/attempts

Front 5

federal trade commission act

Back 5

unfair methods of competition in commerce
unfair or deceptive acts/practices

Front 6

robinson patman act

Back 6

+defines price discrimination
+gives ftc right to limit quantity discounts
+prohibits unfair promotional allowances
+brokerage allowances only go to independent brokers

Front 7

ucc guidelines

Back 7

+written/verbal offers to sell must be binding
+financing must be explained clearly/completely
+salesperson must know legal responsibilities of both parties
+warranties/guarantees
+express warranties made by salesperson
+implied warranties
+state law
+unless a disclaimer is made

Front 8

cooling off law

Back 8

give buyers 3 days to think over decision w/o salesperson present
+allowed to void contract if purchase is not for them

Front 9

why prospects offer resistance (psychological)

Back 9

+dislike decision making
+prefer old habits
+reluctance to give up something old for something new
+unpleasant past associations with you or your company
+resistance to domination
+perceived threat to self-image

Front 10

resistance (logical reasons)

Back 10

+misunderstood
+not convinced
+hidden reason

Front 11

6 step process of handling concerns

Back 11

1) listen carefully
2) confirm your understanding
3) acknowledge their point of view
4) select a specific technique
5) answer (say just enough)
6) attempt to close

Front 12

concrete evidence

Back 12

+product comparison
+case history/testimonials
+guarantees
+show the cost of delaying

Front 13

actions customers may take if dissatisfied

Back 13

+complain to manufacturer
+stop buying
+warn friends
+complain to gov agencies
+initiate legal action

Front 14

cram's selecting customers

Back 14

spend a lot, often
potential business
different from competitors customer
customers in growth industries
innovative customers

Front 15

mvcs keep these customers

Back 15

recognition programs
frequency marketing (points, discounts for purchases)
customer satisfaction (better products, better service)
learning relationship

Front 16

mgcs

Back 16

cross-selling (across product lines, divisions)
premature privileges
value streams

Front 17

customer-focused learning 2 sources

Back 17

+ability to learn more about customers faster than competition
+ability to learn that learning into action faster than competition

Front 18

interact

Back 18

dialogue: info
info: knowledge
knowledge: loyalty
loyalty: profit
dialogue = profit

Front 19

committed customers (lg to sm)

Back 19

total buyers
satisfied buyers
repeat purchasers
committed customers