20 Questions
Which component of value is described as the time between when a customer pays and when they receive what they want?
Time delay
What is the value of delivering a service or product faster?
It decreases risk
Which component of value refers to the things someone must do that they don't want to do in order to achieve the desired outcome?
Effort
Which component of value refers to the things someone has to give up or stop doing that they enjoy in order to achieve the desired outcome?
Sacrifice
Which component of value is the first one mentioned in the text?
Dream outcome
What determines the expensiveness of a product or service?
Perceived value
Which component of value is based on the perceived likelihood of achievement?
Likelihood of achievement
What is the goal of business owners and promoters in terms of value?
Increase dream outcome and likelihood of achievement
According to the text, what are the four components of the value equation?
Dream outcome, value, making money, cost
According to the text, what is the value equation?
Value = Dream outcome - Value + Making money - Losing weight - Cost
According to the text, what is the relationship between the cost and the dream outcome in the value equation?
Cost is subtracted from the dream outcome in the value equation
According to the text, why do some people buy certain things?
Because the category of things that make people money cost more for men
According to the text, which of the following is true about the perceived likelihood of achievement for personal training?
It is low
According to the text, which of the following is true about the time delay for the dream outcome to occur with personal training?
It takes a few years
According to the text, which of the following is true about the effort and sacrifice required for personal training?
There is significant effort and sacrifice required
According to the text, what is the perceived likelihood of achievement for liposuction?
It is high
Which of the following is an example of a dream outcome that decreases the effort and sacrifice associated with achieving it?
Getting instant abs without any pain
According to the text, what is the key to creating more value in product and service lines?
Increasing the dream outcome and expressing it convincingly
What was one of the biggest breakthroughs for Precision Nutrition, according to the text?
Understanding the job to be done and realizing the dream outcome
According to the text, what makes a product infinitely valuable?
Getting the bottom things down to zero
Boost Your Sales Knowledge: Test Your Understanding of Testimonials and Risk Reduction
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