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Mystery Motorists Check Dealer Compliance | February 4 2004 |
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Following recent press coverage of the unethical practices of Finance and Insurance (F&I) managers in the automotive sector, Maritz Research is helping vehicle dealers to improve their compliance assessment using a new mystery shopping program. Virtual Customers for Automotive Retail sends shoppers prepped for an in-depth check on sales and service operations, and qualified for credit approval on a new vehicle purchase. Shoppers are trained to recognize and understand the key forms and documents of a vehicle purchase transaction, including different versions of F&I product 'menus', and can precisely identify if correct disclosure and compliance requirements are being followed. Reassuringly for clients, they also sign legally binding non-disclosure agreements. The program also facilitates rapid action when problems are identified - the 'hot alert' protocol notifies management of shopper findings that may require immediate attention before they are repeated during a vehicle purchase with a 'real' customer. David Greene, Director of Automotive Retail Strategy at Maritz Research, says the approach gives dealers 'documented knowledge of F&I productivity and compliance... proof positive of their adherence to NADA's code of ethics'. It also provides an Operational Integrity Report that analyzes data from four key areas: administrative/procedural compliance, disclosure compliance, F&I sales effectiveness, and F&I sales efficiency. 'There is no substitute' adds Greene 'for putting boots on the ground'. Maritz Research, whose parent is currently in the news for selling TRBI to Synovate ( www.mrweb.com/drno/news2895.htm ), offers a range of strategic and tactical solutions concentrating primarily in the automotive, financial services, hospitality, telecommunications, workplace and technology industries. More information is available at www.maritz.com Simple printable version of this article. Email this article to a friend.
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