Podcast
Questions and Answers
What was the initial strategy used to win the confidence of Mr. Jones?
What was the initial strategy used to win the confidence of Mr. Jones?
- Highlighting the weaknesses of competing companies
- Discussing his personal insurance plans in detail
- Offering discounts on insurance premiums
- Praising the companies he was insured with (correct)
What was Mr. Jones's reaction when praised about his insurance companies?
What was Mr. Jones's reaction when praised about his insurance companies?
- He wanted to change companies immediately
- He felt proud and listened eagerly (correct)
- He questioned the credibility of the information
- He was visibly bored and disinterested
What action did the speaker take to position their own company positively?
What action did the speaker take to position their own company positively?
- Ignored local companies and focused on national firms
- Criticized the competitors' performance
- Promised better service than competitors
- Compared their company to the local competitors (correct)
What was the outcome of the interview with Mr. Jones?
What was the outcome of the interview with Mr. Jones?
How did Mr. Jones respond to inquiries about the Fidelity insurance company?
How did Mr. Jones respond to inquiries about the Fidelity insurance company?
Why did the speaker mention competing companies during the conversation?
Why did the speaker mention competing companies during the conversation?
What did the speaker do to ensure Mr. Jones felt informed during their conversation?
What did the speaker do to ensure Mr. Jones felt informed during their conversation?
What metaphor did the speaker use to describe their sales approach?
What metaphor did the speaker use to describe their sales approach?
What ultimate goal did the speaker achieve as a result of the interview?
What ultimate goal did the speaker achieve as a result of the interview?
What impression did the speaker aim to leave with Mr. Jones regarding his own company?
What impression did the speaker aim to leave with Mr. Jones regarding his own company?
Flashcards
Winning confidence
Winning confidence
A method of gaining trust and acceptance from others, especially in a business environment.
Praising competitors
Praising competitors
High profile complimenting of rival companies to build trust with the client.
Building rapport
Building rapport
Establishing a positive and friendly relationship with someone.
Initial trust/rapport
Initial trust/rapport
Signup and view all the flashcards
Understanding competitor's familiarity
Understanding competitor's familiarity
Signup and view all the flashcards
Sales Process
Sales Process
Signup and view all the flashcards
Initial sales success
Initial sales success
Signup and view all the flashcards
A. Conrad Jones
A. Conrad Jones
Signup and view all the flashcards
Establishing credibility
Establishing credibility
Signup and view all the flashcards
Sales strategy
Sales strategy
Signup and view all the flashcards
Study Notes
Winning Confidence Through Praising Competitors
- Method: Praising competitors builds confidence and trust.
- Example: A salesman praised the insurance companies Mr. Jones invested in (New York Life, Metropolitan, Provident), highlighting their strengths.
- Result: Mr. Jones felt proud of his choices and trusted the salesman's assessment of his own company.
- Follow-up: By praising competitors, the salesman positioned his own company in context and increased its credibility.
- Impact: A large insurance policy for Mr. Jones's firm was secured.
- Principle: This method fosters strong trust and relationships, enabling subsequent successful transactions.
- Quote: "I will speak ill of no man—and speak all the good I know of everybody." (Benjamin Franklin)
- Recommendation: Praising competitors is a valuable strategy.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz examines the strategy of building trust and confidence in business by praising competitors. It highlights how this method can enhance relationships and secure successful transactions, using an example involving an insurance salesman. Discover the impact of positive reinforcement on business credibility and relationships.
