BEST EXPO RUNZ ASSISTANCE WEBSITE. NO.1 BEST DELIVERY OF EXAM RUNZ
100% GUARANTEE OF GETTING ANSWERS MIDNIGHT..IT’S OUR CULTURE, NO DOUBT
===================================
SALESMANSHIP OBJ
01-10: CAAADAAADB
11-20: DDDDAADADA
21-30: DBACCDDCCD
31-40: ABCCBCCDCD
41-50: CBBACACCAA
COMPLETED
===================================
INSTRUCTION: ANSWER FIVE(5) QUESTIONS ONLY
(1a)
Social groups influence consumer behaviour by shaping preferences attitudes and purchase decisions. People often look to family friends or colleagues for guidance and may adopt their buying habits to fit in or gain approval. Group norms and recommendations can strongly affect what products or brands individuals choose. Social groups also provide information and experiences that help consumers make informed choices.
(1b)
(i) Knowledge of Commodity:
Consumers’ knowledge about a product such as its features benefits and differences from alternatives directly affects their buying decisions. When consumers understand what makes a product unique or superior they are more likely to develop preferences and loyalty. In cases where products are seen as similar purchases are often based on price and convenience rather than brand loyalty.
(ii) Peer Group:
Peer groups strongly influence what individuals buy and how they perceive brands. People often conform to the buying habits of their friends or social circles to gain acceptance or avoid being left out. Peer groups introduce new products set trends and provide recommendations which can lead to changes in consumer preferences and even impulse buying.
(iii) Taste:
Taste refers to a person’s or group’s preferences for certain product attributes such as flavour style or design. Taste is a major factor in consumer behaviour because people are naturally drawn to products they find appealing. Marketing that highlights taste or style can increase the likelihood of purchase as consumers often prioritize personal enjoyment and satisfaction.
(iv) Income:
Income determines how much a consumer can afford to spend and influences the types of products they buy. People with higher incomes have more purchasing power and may choose higher quality or luxury items while those with lower incomes focus on necessities and budget-friendly options. Income affects not only what is bought but also how often and in what quantity.
===================================
(2a)
(i) Culture influences consumer values and beliefs that affect buying decisions.
(ii) Cultural norms and customs shape acceptable purchasing behaviours.
(iii) Culture affects social identity and expression through product choices.
(2b)
(i) Extroverted Personality: Extroverted individuals are outgoing, sociable, and enjoy interacting with others. They tend to be impulsive buyers who seek products that enhance their social image and provide excitement or status.
(ii) Introverted Personality: Introverted people are reserved and prefer solitary activities. Their buying behaviour is more deliberate and focused on practicality and personal satisfaction rather than social approval.
(iii) Conscientious Personality: Conscientious individuals are organized, responsible, and detail-oriented. They make careful purchasing decisions, often researching products thoroughly to ensure quality and value before buying.
===================================
(3a)
Motivation is the process that stimulates, inspires, and induces individuals to act towards achieving specific goals or objectives. It is the driving force that energizes and directs human behaviour towards goal attainment.
(3b)
(i) Offer and Acceptance:
An offer is a clear and definite proposal made by one party to another, expressing willingness to enter into a contract on certain terms. Acceptance occurs when the other party agrees unconditionally to the offer, creating mutual consent essential for a valid contract.
(ii) Intention to Create Legal Relations:
Both parties must intend for the agreement to be legally binding and enforceable by law. Without this intention, the contract may be considered void as there is no genuine commitment to the terms.
(iii) Consideration:
Consideration refers to something of value exchanged between the parties, such as money, services, or goods. It ensures that each party gives and receives something, making the contract fair and enforceable.
(3c)
(i) Performance of the Contract:
When both parties fulfill their contractual obligations as agreed, the contract naturally comes to an end, resulting in termination by performance.
(ii) Mutual Agreement:
The parties involved may agree to end the contract before its completion, either by rescinding or varying the terms, leading to consensual termination.
(iii) Breach of Contract:
If one party fails to perform their obligations without lawful excuse, the other party may terminate the contract due to breach, as this undermines the contract’s purpose and trust.
===================================
(4a)
(i) Specific Goods Sale: This involves goods that are specifically identified and agreed upon at the time of the contract. For example, selling a particular car or a unique painting that is clearly identified in the agreement.
(ii) Future Goods Sale: This type involves goods that will be manufactured, produced, or acquired by the seller after the contract is made. Ownership cannot transfer immediately because the goods do not yet exist, such as a farmer agreeing to sell next month’s harvest.
(iii) Contingent Goods Sale: These are goods whose acquisition by the seller depends on the occurrence of a future uncertain event. For example, selling goods only if a shipment arrives successfully.
(4b)
Hire purchase is a system of buying goods through an initial deposit followed by installment payments, where ownership of the goods is transferred to the buyer only after all payments have been completed.
(4c)
In hire purchase, goods are delivered to the buyer who pays in installments, but ownership is transferred only after the final payment whereas in auction sales, goods are sold to the highest bidder in a public bidding process, and ownership transfers immediately upon payment and completion of the auction.
===================================
(5a)
(i) Bill of Exchange:
A bill of exchange is a written, unconditional order issued by one party (the drawer) directing another party (the drawee) to pay a certain sum of money to a third party (the payee) on demand or at a fixed future date. It is commonly used in international trade to ensure payment.
(ii) Cheque:
A cheque is a written order from a bank account holder (the drawer) instructing their bank (the drawee) to pay a specified amount of money to a named person or bearer (the payee) on demand. It is a type of bill of exchange payable on demand and used for everyday banking transactions.
(iii) Promissory Note:
A promissory note is a written and signed promise made by one party (the maker) to pay a definite sum of money to another party (the payee) either on demand or at a specified future date. Unlike a bill of exchange, it involves only two parties.
(5b)
(i) The principal must pay the agent’s agreed-upon remuneration or commission for services rendered.
(ii) The principal should provide the agent with necessary information and instructions to perform their duties effectively.
(iii) The principal is obligated to indemnify the agent against losses incurred while acting within their authority.
===================================
(6a)
Labour relation refers to the interactions and relationships between employers and employees, including negotiations, collective bargaining, dispute resolution, and the management of employment terms and conditions.
(6b)
(i) Expiration of the Partnership Agreement:
When the partnership is formed for a fixed period or a specific project, it dissolves automatically at the end of that period or upon completion of the project. This ensures the partnership does not continue beyond the agreed terms, allowing partners to plan their future activities accordingly.
(ii) Mutual Agreement:
The partners may agree to dissolve the partnership voluntarily at any time through mutual consent. This allows partners to end the business relationship amicably and involves settling debts and distributing remaining assets.
(iii) Death or Bankruptcy of a Partner:
The partnership may dissolve if a partner dies or becomes bankrupt, as this affects the continuity and trust among the partners. Often, the partnership agreement or law requires dissolution in such events to protect the interests of all parties.
(6c)
(i) Shared capital
(ii) Loans and borrowings
(iii) Retained Earnings
===================================
(7a)
A salesman is a person responsible for promoting and selling a company’s products or services to customers. They interact with customers to understand their needs and persuade them to make purchases. The salesman works under the supervision of a sales manager and aims to achieve sales targets.
(7b)
(i) Trustworthiness:
Customers rely on a salesman they find honest and dependable. Being trustworthy helps build long-term relationships and repeat business.
(ii) Good Communication Skills:
Ability to clearly explain product features and persuade customers. Effective communication helps in understanding customer needs and addressing their concerns.
(iii) Patience:
Willingness to listen to customers and handle objections calmly. Patience allows the salesman to deal with difficult customers without losing composure.
(iv) Product Knowledge:
Understanding the products well to guide customers effectively. Good product knowledge enables the salesman to highlight unique selling points and differentiate from competitors.
(7c)
(i) It helps the salesman to confidently explain product features and benefits to customers.
(ii) It enables the salesman to answer customer questions accurately and resolve doubts.
(iii) It builds customer trust and credibility, encouraging purchase decisions.
(iv) It allows the salesman to recommend suitable products that meet customer needs.
===================================
(8a)
A prospect is a potential customer or client who has been identified as having a need for a product or service and has the potential to become a buyer. Prospects are often qualified based on their likelihood of making a purchase.
(8b)
(i) Difficulty in Identifying Qualified Prospects: It can be challenging to identify potential customers who have a genuine need for the product or service and the ability to pay for it. This can lead to wasted time and resources on unqualified leads.
(ii) Time-Consuming and Resource-Intensive: Prospecting can be a time-consuming and resource-intensive process, requiring significant investment in research, outreach, and follow-up. Effective time management and prioritization are crucial to maximize productivity.
(iii) Rejection and Low Conversion Rates: Prospecting often involves facing rejection, and conversion rates can be low, which can be discouraging and affect the morale of sales teams. Developing resilience and a growth mindset can help sales teams cope with rejection.
(8c)
(i) Company records
(ii) Trade journals and industry reports
(iii) Online research and company websites
===================================
(9a)
(i) Listen and Acknowledge
(ii) Feel-Felt-Found Method
(iii) Reframing
(9b)
(i) Customer Resistance: Objections often indicate hesitation or resistance, making it difficult for salespeople to close deals. This can slow down the sales process and reduce conversion rates.
(ii) Misunderstanding Needs: Objections may arise from a lack of understanding about the product or service, causing confusion and mistrust. This requires additional effort to clarify and educate the customer.
(iii) Emotional Barriers: Some objections are based on fear, uncertainty, or doubt, which are emotional rather than logical. These can be challenging to overcome because they require building trust and rapport beyond just presenting facts.
(9c)
(i) Assumptive Close:
This technique involves acting as if the customer has already decided to buy by confidently proceeding with order details. It helps guide the buyer toward finalizing the purchase without pressure.
(ii) Summary Close:
In this technique, the salesperson summarizes the key benefits and features discussed to remind the buyer of the product’s value. This encourages the customer to make a positive final decision.
===================================
(10a)
A product is anything that can be offered to a market to satisfy a need or want. It can be a tangible good, a service, an experience, or an idea that provides value to customers in exchange for something of value. Products fulfill specific customer needs and can be physical or non-physical items made available for consumer use.
(10b)
(i) Durable Goods:
Durable goods are physical products that have a long lifespan and can be used repeatedly over time. Examples include cars, appliances, and furniture, which do not wear out quickly and provide utility for months or years.
(ii) Non-durable Goods:
Non-durable goods are products that are consumed quickly or have a short lifespan. These include items like food, beverages, and toiletries, which are used up after a few uses or within a short period.
(10c)
Having product knowledge helps the salesperson confidently explain features and benefits to customers. It enables accurate responses to customer questions and objections, building trust and credibility. Good product knowledge also allows the salesperson to recommend the most suitable products to meet customer needs, increasing the chances of making a sale.
===================================
COMPLETED….We Remain Your Favourite Site.
Ensure You Subscribe For Your Next Paper
===================================
Leave a Reply