Testimonial and Risk Reduction Quiz
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Questions and Answers

Which component of value is described as the time between when a customer pays and when they receive what they want?

  • Effort
  • Sacrifice
  • Time delay (correct)
  • Testimonials
  • What is the value of delivering a service or product faster?

  • It has no impact on value
  • It makes the product less valuable
  • It increases risk
  • It decreases risk (correct)
  • 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?

  • Time delay
  • Effort (correct)
  • Testimonials
  • Sacrifice
  • 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?

    <p>Sacrifice</p> Signup and view all the answers

    Which component of value is the first one mentioned in the text?

    <p>Dream outcome</p> Signup and view all the answers

    What determines the expensiveness of a product or service?

    <p>Perceived value</p> Signup and view all the answers

    Which component of value is based on the perceived likelihood of achievement?

    <p>Likelihood of achievement</p> Signup and view all the answers

    What is the goal of business owners and promoters in terms of value?

    <p>Increase dream outcome and likelihood of achievement</p> Signup and view all the answers

    According to the text, what are the four components of the value equation?

    <p>Dream outcome, value, making money, cost</p> Signup and view all the answers

    According to the text, what is the value equation?

    <p>Value = Dream outcome - Value + Making money - Losing weight - Cost</p> Signup and view all the answers

    According to the text, what is the relationship between the cost and the dream outcome in the value equation?

    <p>Cost is subtracted from the dream outcome in the value equation</p> Signup and view all the answers

    According to the text, why do some people buy certain things?

    <p>Because the category of things that make people money cost more for men</p> Signup and view all the answers

    According to the text, which of the following is true about the perceived likelihood of achievement for personal training?

    <p>It is low</p> Signup and view all the answers

    According to the text, which of the following is true about the time delay for the dream outcome to occur with personal training?

    <p>It takes a few years</p> Signup and view all the answers

    According to the text, which of the following is true about the effort and sacrifice required for personal training?

    <p>There is significant effort and sacrifice required</p> Signup and view all the answers

    According to the text, what is the perceived likelihood of achievement for liposuction?

    <p>It is high</p> Signup and view all the answers

    Which of the following is an example of a dream outcome that decreases the effort and sacrifice associated with achieving it?

    <p>Getting instant abs without any pain</p> Signup and view all the answers

    According to the text, what is the key to creating more value in product and service lines?

    <p>Increasing the dream outcome and expressing it convincingly</p> Signup and view all the answers

    What was one of the biggest breakthroughs for Precision Nutrition, according to the text?

    <p>Understanding the job to be done and realizing the dream outcome</p> Signup and view all the answers

    According to the text, what makes a product infinitely valuable?

    <p>Getting the bottom things down to zero</p> Signup and view all the answers

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