Maricopa Community Colleges  CSR156   19986-20012 
Official Course Description:   MCCCD Approval:  05/26/98
CSR156      19986-20012 LEC 3 Credit(s) 3 Period(s)
Credit Card Telemarketing Strategies
Overview of credit card telemarketing strategies. Consultative selling and cross-selling marketing techniques as well as critical selling skills covered. Includes customer relationships, customer objections, pricing history, marketing segments and repricing. Laws and regulations also included. Prerequisites: None.
 
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MCCCD Official Course Competencies:
 
CSR156   19986-20012 Credit Card Telemarketing Strategies
1. Differentiate between current repricing and preservation marketing strategies. (I)
2. Analyze various customer scenarios to determine which telemarketing strategy to use. (I)
3. Define various telemarketing terms. (II)
4. Examine the laws and regulations that govern credit card practices. (III)
5. Summarize the importance of building customer relationships. (IV)
6. Summarize procedures for a consultative selling telephone call. (V)
7. Demonstrate ability to respond to rude and emotional customers. (V)
8. Practice consultative selling procedures. (VI)
9. Summarize pricing history key events. (VII)
10. Explain marketing segments. (VIII)
11. List characteristics of the main marketing segments. (VIII)
12. Define repricing. (IX)
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MCCCD Official Course Outline:
 
CSR156   19986-20012 Credit Card Telemarketing Strategies
    I. Telemarketing Strategies
        A. Current Repricing
        B. Preservation
      II. Telemarketing Terms
          A. Annual Percentage Rate (APR)
          B. Nuisance Fees (Avoidable Fees)
          C. Fixed Rate
          D. Variable Rate
          E. Prime Rate
          F. Federal Funds Rate
          G. Hurdle Amount
          H. Grandfathered Balance
          I. Monthly Periodic Rate (MPR)
          J. Daily Periodic Rate (DPR)
          K. Balance Consolidation
          L. Preservation vs. Pirating
          M. Contingent Credit Line Increase (CCLI)
          N. High Risk Account
          O. Periodic Account Review (PAR)
          P. Rate Sale
          Q. Balance Transfer Only (BTO)
          R. Risk Assessment Billcode (RAB)
          S. Stratified
          T. Non-Stratified
          U. Long Term or Post Rates
        III. Laws and Regulations
            A. Regulation B
            B. Truth-in-Lending and Regulation Z
            C. Balcon Pirating and Regulation Z
            D. Telephone Consumer Protection Act (TCPA)
            E. Retail Installment Credit Agreement (RICA)
          IV. Customer Relationships
              A. Customer Needs
              B. Personality Types
              C. Competition
              D. Word of Mouth
              E. Selling the Company
              F. Rewards
            V. Consultative Selling Overview
                A. Making a Positive Impression
                  1. Pitch
                  2. Inflection
                  3. Courtesy
                  4. Tone
                  5. Understandability
                  6. Rate
                  7. Enunciation
                B. Responding to Rude/Emotional Customers
                  1. Positive Mental State
                  2. Skill
                  3. Patience
                  4. Let It Go
                C. Telephone - Special Considerations
                D. Presence and Persuasiveness
                E. Casual vs. Professional Phone Skills
                F. Customer's World/My World
                G. Customer of the 90's
                H. Comfort Zone
                I. Determining Needs of Customer
                J. Questions
                  1. Closed
                  2. Open
                  3. Probing
                K. Empathy
              VI. Consultative Selling Procedures
                  A. Critical Selling Skills
                    1. Presence/Voice
                    2. Relating
                    3. Questioning
                    4. Listening
                    5. Positioning
                    6. Checking
                  B. Objection Definition
                  C. Objection Resolution Model
                    1. Presence
                    2. Empathy
                    3. Question
                    4. Position
                    5. Check
                  D. Differentiating Total Offer
                  E. Expressing Gratitude
                  F. Checking
                    1. Definition
                    2. Benefits
                    3. When to Check
                  G. Closing the Call Professionally
                    1. Definition
                    2. Elements of the Close
                    3. Challenges
                  H. Gathering Competitive Information
                VII. Pricing History Key Events
                    A. Prologue
                    B. Interest Rate CAP
                    C. Preferred Customer Pricing
                    D. Variable APR
                    E. Prime Rate
                    F. Periodic Account Review (PAR)
                    G. Grandfathered Balances
                    H. Pricing Wars
                    I. Rate Sales
                    J. Pricing Standardization
                      1. Rates
                      2. Fees
                      3. Minimum Payment
                      4. PAR Rollout
                  VIII. Marketing Segments
                      A. Maintain
                      B. Change
                      C. Grow
                      D. Exit
                    IX. Repricing
                        A. Proactively
                        B. Reactively
                        C. Best Offer
                        D. Fee Standardizations
                        E. Non-Standardized Account
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