Final answer:
To bolster a customer relationship after denial, offer alternative solutions and reassurances such as product information, guarantees, and follow-up communication. For loan seekers, demonstrating creditworthiness or providing a solid business plan may reassure lenders with imperfect information about the borrower.
Step-by-step explanation:
One way to bolster the relationship with a customer who is denied a request for a product or service is to offer alternative solutions and provide comprehensive information that addresses their needs. When a seller is confronted with a buyer dealing with imperfect information, transparency in communication, providing detailed product or service specifications, and offering testimonials or guarantees can help build trust and reassure the buyer. For someone seeking a loan, providing detailed information about their creditworthiness, a robust business plan, or offering some form of collateral can help a lender mitigate the risk associated with imperfect information.
Similar principles can be applied in marketing campaigns, where following up with potential leads in a persistent, yet friendly manner may yield positive results. Providing value and relevance to the customer's specific needs can transform the initial 'no' into a beneficial opportunity for both parties.