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19 Cards in this Set

  • Front
  • Back
3 guidelines for ethical behavior
universal nature (golden rule)
truth telling
responsibility for actions
groupthink
pressure exerted to be a part of group; not bucking the system and being a team player
5 checkpoints for ethical decision making
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
sherman antitrust act
prohibits contracts, combinations, or conspiracies in restraint of trade
prohibits monopolies/attempts
federal trade commission act
unfair methods of competition in commerce
unfair or deceptive acts/practices
robinson patman act
+defines price discrimination
+gives ftc right to limit quantity discounts
+prohibits unfair promotional allowances
+brokerage allowances only go to independent brokers
ucc guidelines
+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
cooling off law
give buyers 3 days to think over decision w/o salesperson present
+allowed to void contract if purchase is not for them
why prospects offer resistance (psychological)
+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
resistance (logical reasons)
+misunderstood
+not convinced
+hidden reason
6 step process of handling concerns
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
concrete evidence
+product comparison
+case history/testimonials
+guarantees
+show the cost of delaying
actions customers may take if dissatisfied
+complain to manufacturer
+stop buying
+warn friends
+complain to gov agencies
+initiate legal action
cram's selecting customers
spend a lot, often
potential business
different from competitors customer
customers in growth industries
innovative customers
mvcs keep these customers
recognition programs
frequency marketing (points, discounts for purchases)
customer satisfaction (better products, better service)
learning relationship
mgcs
cross-selling (across product lines, divisions)
premature privileges
value streams
customer-focused learning 2 sources
+ability to learn more about customers faster than competition
+ability to learn that learning into action faster than competition
interact
dialogue: info
info: knowledge
knowledge: loyalty
loyalty: profit
dialogue = profit
committed customers (lg to sm)
total buyers
satisfied buyers
repeat purchasers
committed customers