MKTG 354 Lecture 2 Notes
MKTG 354 Lecture 2 Notes MKTG 354
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This 3 page Class Notes was uploaded by Savannah Baron on Saturday February 13, 2016. The Class Notes belongs to MKTG 354 at University of Mississippi taught by Hua Chen in Spring 2016. Since its upload, it has received 19 views. For similar materials see Professional Selling and Relationship Marketing in Marketing at University of Mississippi.
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Date Created: 02/13/16
Lecture 2 Notes Ethics: The Foundation for Relationships in Selling I. Making Ethical Decisions Business ethics = principles and standards that guide business behavior Help translate values into appropriate and effective behaviors Ethical behavior in business reflects: o Personal character and values o Company policy and practices o Management as role model II. Factors Determining Ethical Behavior a. Top Management as Role Model Ethical standards filter down from the top An organization’s moral tone is set by management o Ex) Steve Jobs influenced everyone’s perspective of Apple products Moral tone is the most important determinant of employee ethics Managers must infuse ethical values in subordinates b. Company Policies and Practices Company policies and practices have major impact on conduct Developing ethical policy statements forces company to take a stand Policies should include distributor relations, customer service, pricing, product development, etc. c. Additional Policy Areas Sharing confidential information o Ex) Home Depot lost credit card information of customers, stock price drops o Ex) iCloud breach, Apple stock drops 4% Reciprocity o Common practice for salespeople, but bad to practice “if you don’t buy from me, I won’t buy from you” Bribery o Give customer money for their business o Necessary part of business in some countries (Southeast Asia), but in this country it is wrong Gift giving o Different from bribery, taking a client to dinner or some event o Many companies have policies on how much you can pay for these gifts Entertainment Business defamation Use of the internet/email o Don’t bother your clients with useless information d. Sales Manager as Role Model A salesperson’s actions often mirror the sales manager’s behavior Sales managers are responsible for interpreting company policy e. Salesperson’s Personal Values Values = ultimate reasons people act as they do Foundation for attitudes and behavior Development and refinement of values = Lifelong process Customers have negative view of salespeople who lack integrity Values Conflict o 3 Choices: Ignore the influence of your values. Engage in the unethical behavior Voice strong opposition to the practice Refuse to compromise your values. Be prepared to deal with the consequences f. Law, Contracts, and Agreements Legal system plays a role in preventing unethical behavior o Cooling-off laws = reconsider a buying decision Not telling the whole truth (not lying, but leaving out information) is still unethical o Uniform Commercial Code = Law influencing buyer-seller transactions Contract = promise(s) enforceable in court Ethics = beyond the letter of the law III. The Trust Factor Transactional sales = focus is on trust in the product Consultative sales = focus is on trust in the salesperson Strategic alliance sales = focus is on the other company and its values IV. Personal Code of Ethics Personal selling = an exchange of value Relationship comes first; tasks second Be honest with yourself and others
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