lecture 02 - building trusts and ethics

8/13/2019 Lecture 02 - Building Trusts and Ethics

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Building Trust andSales Ethics


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Learning Objectives

1. Explain the importance of trust.

2. Discuss the distinguishing

characteristics of trust-based selling.

3. Discuss how to earn trust.


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Learning Objectives

4. Explain how the knowledge bases help

build trust and relationships.

5. Understand the importance of sales

ethics.

6. Discuss three important areas of

unethical behavior.


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Setting the Stage

1. What were the characteristics Gwen

Tranquillo possessed anddemonstrated that helped her earn her

customers trust?

2. How did Gwen demonstrate she was

customer oriented and that Hersheywants whats best for its customers?

The Importance of Trust


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Trust refers tothe degree to

wh ich one

person can relyon another when

the form er is

dependent onthe latter.


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Why is Trust Important?

A fundamental competitive strategy of a

growing number of organizations is to

build long-term mutually beneficialrelationships with their customers. The

ability of those organizations salespeople

to earn their customers trust is essential

to the success of that strategy.


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Trust Develops When the Salesperson is:

Candid

Expert

Customer

Oriented

Dependable

Compatible

Trust


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Trust BuilderExpertise

Expert

The extent to which a salesperson

possesses relevant knowledge andcapability.

The salesperson knows what he/sheneeds to know. The salesperson and

his/her company have the abi l i ty and

resources to get the job done r ight .


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Trust BuilderDependability

Dependable


consistently and predictably follows

through on commitments he/shemakes to others.

Buyers can rely on the salesperson.

The salesperson keeps his /her

promises.


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Trust BuilderCandor

Candid

The extent to which a salesperson is

honest and upfront with others,

especially with regard to issues/factorsthat may impact those others.

The salesperson is honest in his/her

spoken word. The salespersons

presentat ion is fair and balanced.


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Trust BuilderCustomer Orientation

Customer

Oriented


values and protects the interests ofhis/her customers.

The salesperson truly c ares about the

partnership. The salesperson w i l l go

to bat for the customer.


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Trust Builder - Compatibility

Compatible

The extent to which a salespersons

behaviors, actions, and personality are

consistent with and/or appreciated byhis/her customers.

The buyer likes doing business withthe salesperson . The buyer l ikes

doing bus iness wi th the

salespersons company.


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Knowledge Bases

Industry

Company

Product

Price and Promotion

Service

Market/Customer

Competitor Technology


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Industry Knowledge

In order to develop and execute

effective selling strategies, and to

be viewed as a market information resource,

salespeople must understand the dynamics,

structure, culture, and forces that affect the

industry or industries in which they work.


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Company Knowledge

Salespeople must understand

their companys culture, mission,

goals, policies, and procedures so that they

may effectively and accurately represent the

company when interacting (e.g., negotiating)

with its prospective and current customers.


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Product Knowledge

Salespeople must have a

thorough understanding of their

product offering(s) so that they are perceived

(by the customer) as experts and capable of

accurately matching those offerings to the

needs of the customer.


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Service Knowledge

Closely tied to the market offer is the

service and support an organization

provides its customers. Salespeople must

know their companys service capabilities

and then match those to the needs of their

customers.


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Promotion and Price Knowledge

Salespeople must be capable of

administering promotional programs

and answering related questions in order to

facilitate their customers participation. In

addition, salespeople must understand the

pricing structure of their products so that theymay negotiate accordingly with the buyer.


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Market and Customer Knowledge

Salespeople must possess knowledge

of the markets they serve in order

to develop and implement effective selling

strategies. In addition, salespeople must

understand their customers, including needs,

personalities, and communication styles so thatmay be able to create and clearly communicate

relevant solutions.


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Competitor Knowledge

Salespeople must posses knowledge

of their competitors so that they

know how to position their products against

those of their competitors.


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Technology Knowledge

Salespeople must understand how to

take advantage of technology (e.g.,

internet, computer, and telecommunications)

that may help them be more competitive.


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Ethics

Ethics refers to right and wrong

conduct of individuals and institutions

of which they are a part.

ClearlyWrong

ClearlyRight

EthicalDilemma


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Image of Salespeople


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Areas of Unethical Behavior

Exaggerate

Withhold

DeceiveHustle

Scam

Bluff

Deceptive PracticesMisuse Company

Assets

DefraudCon

Illegal Activities

Pushy

Hard SellFast Talking

High Pressure

Non-Customer-Oriented Behavior

lecture 02 - building trusts and ethics

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