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Information Disclosure in Sales.docx

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Western University
Philosophy 2074F/G

Information Disclosure in Sales 4/12/2012 2:09:00 PM The Five Point Information Responsibility Scale  Minimal Information Rule – all responsibility for information lies with the buyer o The salesperson must play the role of an advocate of the product which affects how much information they will reveal o Buyers often have no choice but to rely on the information given to them buy sellers They can only voluntarily consent to the limits of their knowledge o It seems unethical for sellers to enter into certain arrangements that take advantage of buyer ignorance o Buyers are especially concerned about safety issues because no person would refuse to care about their own safety  Modified Minimal Information Rule – information lies with the buyer but the salesperson must provide safety information  Fairness Rule – in addition to safety, the seller must provide any information needed to make a reasonable judgment about whether to purchase the product which the buyer could not be expected to know unless informed by the seller o This rule seems to give all parties equal protection where everyone has a chance to protect his or her interests. o Enacting this rule requires that a salesperson treat individual customers differently o Customers with greater knowledge don’t need the same kind of information provided to them as other customers  Mutual Benefit Rule – the salesperson must provide the buyer with all information about the product that the buyer would need to know in order to make a reasonable decision about buying the product o In situations where a consumer is experienced this rule acts as the Fairness Rule o In other circu
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