MKT 504 Chapter Notes - Chapter 2: Price Fixing, Predatory Pricing, Bid Rigging
Document Summary
Chapter 2 building trust and sales ethics. The extent of the buyers" confidence in the salesperson"s integrity is known as trust. Buyers define trust with terms such as open-ness, dependability, honesty, confidentiality, security, reliability, fairness, and predictability. Trust is earned when an industrial buyer believes and can rely on a salesperson"s or promises when they buyer is dependent on their honestly and ability. Trust answers these questions: do you know what you are talking about? (expertise, will you recommend what is best for me? (customer orientation, can you and your company back up your promise? (dependability, are you truthful? (honesty) Why is trust important: a fundamental competitive strategy of a growing number of organizations is to build long-term mutually beneficial relationships with their customers. They ability of those organizations" salespeople to earn their customers" trust is essential to the success of that strategy. The forces that affect the industry in which they work/understand their company.
