Lesson 6: Business Implementation

Question 1

True or False:
There are various selling strategies entrepreneurs use that you can also apply when you sell your actual product or service

Answer 1

True

Question 2

True or False:
The actual selling of a service may seem to be easy for some, or it may vary per person or per business.

Answer 2

True

Question 3

a selling strategy whereby the seller calls a random person who has no relationship with the business yet but is considered as a potential customer.

Answer 3

cold calls

Question 4

This selling strategy is one of the most
difficulty to pull off.

Answer 4

Cold calls

Question 5

sales approach that prioritizes relationships and open dialogue to identify and provide solutions to a
customer’s needs. It is hyper focused on the customer, rather than the product being sold.

Answer 5

Consultative selling

Question 6

Who was the one who came up with consultative selling?

Answer 6

Richardson (2019)

Question 7

This is a selling strategy that is common in the
Philippines.

Answer 7

Direct selling

Question 8

It is where an independent direct seller goes directly to the customer’s house or office and presents his or her products for selling.

Answer 8

Direct selling

Question 9

This is often associated with being pushy but is different in such a way that it is selling with subtlety.

Answer 9

Persuasive selling

Question 10

This is positioning the product or service as rare, limited, or recommended by experts.

Question 11

The persuasive seller is able to engage a customer in a conversation rather than a sales pitch.

Answer 11

Persuasive selling

Question 12

Steps in selling a product/service

Answer 12

Step 1: Finding prospects
Step 2: Sell credibly to your primary target market (sales presentation)
Step 3: Manage customers’ inquiries and objections
Step 4: Close the sale
Step 5: Develop a long-lasting relationship with customers

Question 13

This mechanism lessens unnecessary
marketing and selling expenses that makes the strategy more effective and suited to the primary
target market.

Answer 13

Step 1

Question 14

There is no such thing as “everyone”, “all of them”, or “everybody” when it comes to marketing and
selling. At the onset, the entrepreneur has to choose an initial group of people that has common
interests and preferences that the entrepreneur has to find. This mechanism lessens unnecessary
marketing and selling expenses that makes the strategy more effective and suited to the primary
target market.

Answer 14

Step 1: Finding prospects:

Question 15

The selling presentation is one of the most challenging tasks in selling. The entrepreneur or his or her sales team/agents must contact the prospects in any of the possible channels where they can be easily reached such as face-to-face, Internet (email, Website, social media), mobile phone, landline phone, text message, advertisement, affiliates, or any other creative and strategic channel where they will be enticed to buy.

Answer 15

Step 2: Sell credibly to your primary target market (sales presentation)