Testimonial and Risk Reduction Quiz
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Questions and Answers

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

  • Dream outcome, cost, making money, losing weight
  • Dream outcome, making money, losing weight, cost
  • Dream outcome, value, making money, losing weight
  • Dream outcome, value, cost, making money (correct)

    • According to the text, what is the value equation?

  • Value = dream outcome - cost + making money
  • Value = dream outcome + making money - cost (correct)
  • Value = dream outcome - making money + cost
  • Value = dream outcome + cost - making money

    • According to the text, what is the example given to explain the value equation?

  • Selling to women who value losing weight more than making money
  • Selling to men who value losing weight more than making money
  • Selling to men who value making money more than losing weight (correct)
  • Selling to women who value making money more than losing weight

    • According to the text, why do people pay a high price for the highest level program?

    <p>They trust that the value they receive is worth the price</p> Signup and view all the answers

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

    <p>Dream outcome, perceived likelihood of achievement, testimonials, price</p> Signup and view all the answers

    Which component of value is considered the most important?

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

    What is the relationship between dream outcome and perceived value?

    <p>Higher dream outcome leads to higher perceived value</p> Signup and view all the answers

    Why is time not considered a component of value?

    <p>Time is irrelevant in the value equation</p> Signup and view all the answers

    According to the text, what is the bottom side of the equation in increasing value?

    <p>Time delay</p> Signup and view all the answers

    According to the text, what is the top side of the equation in increasing value?

    <p>Time delay</p> Signup and view all the answers

    According to the text, what is one way to increase the value of a service or product without changing the offering?

    <p>Decrease time delay</p> Signup and view all the answers

    According to the text, what is the relationship between speed and value in a competitive market?

    <p>Speed increases value</p> Signup and view all the answers

    According to the text, what is the goal in increasing the top side and decreasing the bottom side?

    <p>To create more value</p> Signup and view all the answers

    According to the text, what is the job to be done in selling certifications?

    <p>To create a socially acceptable excuse to be part of a community</p> Signup and view all the answers

    According to the text, what is the equation for an infinitely valuable product?

    <p>$top - bottom = 0$</p> Signup and view all the answers

    According to the text, what is the key to having a competitive advantage in business?

    <p>Decreasing the downside</p> Signup and view all the answers

    According to the text, which option has a higher perceived likelihood of achievement?

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

    According to the text, which option has a shorter time delay for the dream outcome to occur?

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

    According to the text, which option requires more effort and sacrifice?

    <p>Personal training</p> Signup and view all the answers

    According to the text, which option is considered to have a higher value?

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

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