A Code of Ethics

question 73

Multiple Choice

A code of ethics:

• A)provides employees with the knowledge of what their firm expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers
• B)can offer a lengthy and detailed set of guidelines to employees
• C)is a summary statement of the firm's goals, policies, and priorities
• D)is considered by some to be public relations gimmicks
• E)is accurately described by all of the above

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Definitions:

SPIN Approach

stands for Situation, Problem, Implication, and Need-Payoff, a consultative selling technique that focuses on asking the right questions to understand and address customer needs effectively.

SPIN Approach

A sales technique that focuses on asking questions about Situation, Problem, Implication, and Need-payoff to close deals.

Third Category

In a classification system, the additional or alternative group that items, ideas, or solutions can be placed into beyond the primary two options.

Need-Payoff Question

A Need-Payoff Question is a sales technique that encourages prospective customers to consider the benefits and value of a product or service, focusing on solving specific needs.