All, Disclosure is telling the customer all about the product. In
the current discussion of opals, everything needs to be disclosed
including the fragility of the stone and special care instructions.
If a dealers fear is that the buyer will not buy once they know all
the story and not just part then they are not following the US
guidance from the Federal Trade Commission. Same goes for
Tanzanite, Appatite, Sunstone, etc and any gemstone that should be
treated with special care if you want it to last. Disclosure is all
about giving the customer all the so they can make an
intelligent decision not just a part of the
Gerry Galarneau
www.galarneausgems.com
I did not see the beginning of this thread so I apologize if this is
not quite on the same track. I am following Gary’s comments.
Worst thing you can do is not give the customer all the information
he needs. A customer who has buyer’s remorse or worse feels he was
ripped off will be telling all his friends, acquaintances and family
and ruin all those sources of business for you for ages to come.
A customer who feels he was fully informed and respected, even if he
does not buy that particular item may buy something else, may come
back again to do business w/ you or send others to you. Disclosure
is just good business policy.
Joel
Joel and Gary are absolutely correct. When in doubt, “do the math” to
calculate the potential impact on your business:
-
When asked about the most important source of pre-purchase
"opinions of friends" is cited by twice as many people
as any other sources of marketing
-
Satisfied customers tend to tell 4-5 others about their
experience.
-
Dis-satisfied customers tend to tell 8-10 people about their
negative experiences.
My conclusion: Disclosure is just good business policy.
[For those interested, these data points are paraphrased from “The
Information Challenge” a survey conducted by Cambridge Reports, Inc.
for the General Electric Company in 1982.]
Michael Conlin