Q: What is the 6-stage Change Cycle?

A: The 6-stage Change Cycle was developed by psychologists Prochaska, Norcross and Diclemente. It describes people reaction and behaviors in stages of change process from which people are not aware of the need to change and react defensively when someone brings up the subject to the stage that change initiatives have now become second nature to people, who no longer feel tempted to go back to the old ways under any circumstances.

The recent economic instability posed a big challenge to business, as nowadays customers become more cautious before making their buying decision.  Therefore, the ability to explore true needs of customers and build trust with them are essential for salespeople to win business deals. In this workshop, practical knowledge and skills on consultative selling will be shared, which had been well tried out in various industries.  Participants will have an opportunity to simulate the selling process through interactive lecturing case studies, exercises, games and role plays.gaps.

Workshop Outline:
• Difference between Consultative Selling & Traditional Selling Approaches
• The Buying Behaviours and Psychology of Customers
• Framework & Stages of Consultative Selling
• The A.B.C. Method for Approaching Prospecting Customers
• Techniques for Arousing Customers’ Attentions or Interests
• Mingling Techniques for Sales Person
• Matching Skills for Building Rapport with Customers
• Four Customers Types
• Exploring True Customer Needs
• The SPIN-Selling-Type Questions
• The FABE & USB Methods for Presenting Solutions
• Handling Customer Objections
• EAT & SEE Methods for Closing Sales Deal

To learn more on how HMI Consulting can help your company's management team to enhance corporate and departmental performance, please call (852) 3627 3673 or email to info@hmi.hk.

Economic Overview 

The volume of Hong Kong's re-exports of goods in September decreased by 6.5 per cent compared with the same period last year that of domestic exports dropped sharply by 32.2 per cent.  Taken together, the volume of total exports of goods decreased by 7.2 per cent. Comparing the first nine months of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 14.6 per cent, while domestic exports plunged sharply by 38.4 per cent. The volume of total exports of goods decreased by 15.3 per cent in total.  Concurrently, the volume of imports of goods decreased by 13.8 per cent. [Source: HKEJ (P6)/ csd.gov.hk, 11 Nov 09]

The unemployment rate in Hong Kong improved slightly to 5.2 per cent in October although the number of people with jobs fell to a two-year low, suggesting that the pace of recovery remains slow and uncertain. Official data shows the rate of unemployment eased 0.1percentage point from 5.3 per cent in September. This is the second straight month of declining unemployment, which is at a seven-month low. There was no change to the underemployment rate at 2.4 per cent. The number of people with jobs fell by about 7,200, while those looking for work fell by about 18,700. The jobless rate for those aged between 15 and 19 has steadily fallen to 22.7 per cent last month, down 3 percentage points from September. [Source: SCMP (A3)/ The Standard (P11), 18 Nov 09]

Basic salaries averaged a slight increase of 0.6 per cent, the lowest increase since 2005, according to data compiled by the Hong Kong Institute of Human Resource Management. This year's mild pay rise is 3.3 percentage points lower than the average increase of 3.9 per cent last year. Of 37 companies employing just over 23,000 staff that have confirmed their budget for next year, 29 expect an overall pay increase while eight forecast a pay freeze. No companies planned a pay cut for next year. The pay rises range between 0.1 per cent and 4.1 per cent, with an overall average expected by all these companies of about 2 per cent. [Source: SCMP (A3)/ The Standard (P4)/ HKEJ (P8)/ HKET (A4), 6 Nov 09] 

Meanwhile, China’s manufacturing activity in October rose at the fastest rate in 18 months, signaling accelerating economic growth. The Purchasing Managers’ Index rose to 55.2 last month from 54.3 in September, according to the Federation of Logistics and Purchasing. The index for export orders rose to 54.5 last month from 53.3 a month earlier. That for imports went up to 52.8 from 50.7, the sharpest gain among various categories. A researcher at the State Council Development and Research Centre said the economy may grow by 9.5% in the fourth quarter as exports continue to recover. [Source: The Standard (P13), 2 Nov 09] 

The following summarized the recent actions taken by different organizations:

• RBS to cut 3,700 branch jobs in Britain [Source: RTHK News Online, 3 Nov 09]
• HSBC bank to cut 1,700 jobs in Britain [Source: The Standard (P5)/ Channelnewsasia.com, 4 Nov 09]
• Johnson & Johnson to cut more than 7,000 jobs worldwide [Source: Channelnewsasia.com, 4 Nov 09]
• Microsoft cuts 800 jobs, completes reduction plan early [Source: Channelnewsasia.com, 5 Nov 09]
• GM plans 10,000 job cuts at Opel [Source: Channelnewsasia.com, 5 Nov 09]
• HSBC pledges no job cuts in Hong Kong [Source: The Standard (P11)/ HKEJ (P6), 5 Nov 09]
• British bank LBG to axe up to 5,000 jobs [Source: Channelnewsasia.com, 11 Nov 09]
• AOL to shed 2,500 jobs in spinoff from Time Warner [Source: Channelnewsasia.com, 20 Nov 09]
• StanChart looking to hire 500 staff [Source: The Standard (P6), 25 Nov 09]
• Nokia to cut 220 R&D jobs in Japan [Source: Channelnewsasia.com, 25 Nov 09]
• Toyota cuts managers’ bonus pay [Source: China Daily (P17), 27 Nov 09]

Disclaimer: Should there be any different views in the interpretation, please always refer to the original media source as reference. HMI Consulting accepts no liability in respect of the accuracy and truthfulness of the materials included in this newsletter.