Professional Documents
Culture Documents
PROFESSIONAL-SALESMANSHIP-REVIEWER
PROFESSIONAL-SALESMANSHIP-REVIEWER
3. Relationship Marketing: At the heart of this evolution lies 4. Feedback Loop: The sales force serves as a valuable
relationship marketing, a strategy that places the customer at source of feedback, providing insights from the field that can
the center of business operations. It emphasizes building long- inform product development and marketing strategies.
term, mutually beneficial relationships with customers, rather
than focusing solely on one-time transactions. 5. Building Trust: Trust is a fundamental element of
relationship marketing, and salespeople play a crucial role in
B. Marketing's Importance in the Firm: establishing and nurturing trust-based relationships with
customers.
1. Defining Marketing: Marketing is not just about advertising
and promotion; it encompasses a wide range of activities Chapter 3: Ethics First Then Customer Relationship
aimed at understanding, attracting, retaining, and satisfying
customers. It's a strategic function that drives a firm's success. A.Social, Ethical, and Legal Influencs:
2. Creating Value: Marketing's role is to create value for both Defining Ethics:
customers and the firm. By identifying customer needs and
Ethics are the principles and values that guide an individual's
preferences, marketing helps in the development of products
or an organization's behavior. In business, ethics are the
and services that resonate with the target audience.
foundation for building trust, maintaining credibility, and
3. Market Orientation: Firms that adopt a market-oriented fostering healthy customer relationships
approach continuously gather customer feedback and market
Legal Influences:
insights to adapt and innovate, ensuring that their offerings
remain relevant. Legal frameworks set the boundaries for ethical behavior in
business. Violating laws not only has legal consequences but
C. Essentials of a Firm's Marketing Effort:
also damages a company's reputation and customer
1. Segmentation and Targeting: To effectively serve diverse relationships.
customer needs, firms segment the market into smaller, more
Social Influences:
manageable groups and then target these segments with
tailored marketing strategies. Society plays a significant role in shaping ethical standards.
Public perception and societal norms greatly affect how
2. Product Development: Marketing informs product
businesses conduct themselves and the ethical expectations
development by identifying gaps in the market and shaping
placed upon them.
product features and benefits to meet customer expectations.
Ethical Influences:
3. Pricing Strategies: Marketing plays a crucial role in
determining pricing strategies that reflect the perceived value Ethical influences come from various sources, including the
of products or services in the eyes of customers. organization's culture, leadership, and individual values. A
strong ethical culture within a company can positively impact
4. Promotion and Communication: Marketing is responsible
customer relationships.
for creating compelling messages and promotional campaigns
that resonate with the target audience and drive customer B. Management's Social Responsibilities:
engagement.
Economic Responsibilities:
D. Relationship Marketing and the Sales Force:
The first and foremost responsibility of any business is to be
1. Defining Relationship Marketing economically viable. However, this should not come at the
expense of ethical and social responsibilities.
2. Role of the Sales Force
Legal Responsibilities
3. Customization
Adherence to local and international laws is a fundamental
4. Feedback Loop
aspect of social responsibility. Legal compliance is the bare
5. Building Trust minimum for ethical business conduct.
External Pressure and Incentives Ethical behavior in dealing with customers involves providing
honest and transparent information about products and
Ethical leadership sets the tone for an organization. When services. This includes disclosing any limitations or potential
leaders model ethical behavior and decision-making, it can downsides.
positively influence employees and the business's ethical
culture. Respecting Customer Privacy
Chapter 4: Ethics First, Then Customer Relationships Companies must respect customer privacy and protect their
data. Ethical behavior means securing customer information
D. Management's Ethical Responsibilities: and using it only for its intended purpose.
Setting the Ethical Tone: Fair Pricing and Billing:
Ethical leadership is the foundation for an organization's ethical Pricing and billing practices must be transparent and fair.
culture. It is crucial for management to lead by example, Hidden fees, price gouging, or deceptive billing practices are
displaying integrity, honesty, and fairness in all actions. unethical and can damage customer trust.
Ethical Decision-Making: Responsive Customer Service
Management is often faced with difficult decisions. Ethical Ethical behavior extends to customer service. Treating
responsibilities involve making choices that prioritize the long- customers with respect, empathy, and prompt attention to their
term welfare of all stakeholders, not just immediate financial concerns is essential for maintaining positive customer
gains. relationships.
Creating an Ethical Culture: