2022 NABTEB Salesmanship (Essay & OBJ) Answers [1st July]
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NABTEB MAY/JUNE 2022 FREE SALESMANSHIP QUESTION AND ANSWER ROOM [NBC/NTC]

Salesmanship (Objective & Essay)
11:40am - 3:00pm

2022 NABTEB SALESMANSHIP (THEORY) ANSWERS:

(1a) 

Personality refers to the unique psychological characteristics that distinguish a person or group. It is usually described in terms of traits such as self-confidence, dominance, sociability, autonomy, defensiveness, adaptability, and aggressiveness.

(1b)

(i) Introversion

(ii) Extroversion

(1c)

(i) Subcultures: Sub cultures are generally formed on the basis of religion and geography. Take any democratic country and you will find many different regions sub divided, with each region having its inherent characteristics.

(ii) Religion: The effects of religion on consumer decisions may be either positive or negative. Some religious beliefs and doctrines may motivate consumers creating an increase in particular consumption activities. In other cases, religious principles may discourage consumption of an item or services.

(iii) Gender: Gender is the major factor out of all the other factors that affects consumer purchasing behaviour. When gender differs, the perception of consuming the product is different as well. Men and women tend to have different choices while shopping because of the difference in their upbringing and socialization.

(iv) Culture: Our cultural factors are basically basic requirements, values, wants behaviors, and preferences that are observed and absorbed by us from our close family members as well as other significant people around us.

(v) Social Class: Each society all over the globe is defined and known by some form of social class. This social class is determined collectively by our family backgrounds, occupation, education, and residence location. Our social class is another component holding the reins for consumer behavior.

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(2a)

(i) Psychological Factors

(ii) Social Factors

(iii) Cultural Factors

(iv) Personal Factors

(v) Economic Factors

(2b)

(i) Psychological Factors: Factors based on human psychology are a major determinant of consumer behavior, and they includes:

-Motivation: Motivation is the inward drive we have to get what we need. Every person has different needs such as physiological needs, security needs, social needs, esteem needs, and self-actualization needs.

-Perception: Customer perception is a process where a customer collects information about a particular product and interprets the information to make a meaningful image of it.

-Learning: Refers to the process by which consumers change their behavior after they gain information or experience. It doesn’t just affect what you buy; it affects how you shop.

-Attitudes: Attitudes are enduring “mental positions” or emotional feelings, favorable or unfavorable evaluations, and action tendencies people have about products, services, companies, or ideas. Since such beliefs and attitudes make up brand image and affect consumer buying behavior, marketers aim to change the beliefs and attitudes to positive ones through designing special campaigns.

(ii) Social Factors: People wish to be socially accepted, so they tend to imitate others including their purchases. Among the most important social factors are:

-Family: Buyer behavior is strongly influenced by the family they belong to. A person develops preferences from his childhood by watching family buy products and continues to buy the same products even when they grow up.

-Reference Groups: Reference groups are groups (social groups, workgroups, or close friends) a consumer identifies with and may want to join. The impact of reference groups varies across products and brands. For example, if the product is visible such as dress or car, then the influence of reference groups will be high.

-Roles and Status: A role consists of the activities that a person is expected to perform. Each role carries a status. For example, if a woman works as a finance manager, she plays two roles: finance manager and mother. Therefore, she is largely influenced by her role and will choose products that communicate it.

(iii) Cultural Factors: A group of people is associated with a set of values and ideologies that belong to a particular community. Therefore, cultural factors have a strong influence on consumer buying behavior. They include: Culture, subculture and social class.

(iv) Personal Factors: Personal factors vary from one person to another, thereby producing different perceptions and consumer behavior. Some of the personal factors are: Age, occupation and lifestyle, personality.

(v) Economic Factors: Economic factors bear a significant influence on the buying decision of a consumer, and they can be on several aspects, as follows: Country Economic Situation, personal income and liquid assets.

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(3a)

Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in installments.

(3b)

(PICK ANY TWO)

(i) In hire purchase, the seller retains ownership until the final installment is made whereas in the buyer becomes owner of the goods as soon as initial deposit is made.

(ii) Durable goods are sold under hire purchases whereas less durable goods are sold under deferred payment.

(iii) Hire purchase terms favour the seller whereas deferred payment terms favour the buyers.

(iv) The hire purchase price is higher than the price charged in deferred payment terms.

(v) if the hirer defaults in payment, the seller can repossess the goods, whereas the seller cannot repossess the goods; he may sue the buyer to the court for the balance in deferred payment.

(vi) in hire purchase, the goods are on hire, whereas the goods are sold and to be paid for in future in deferred payment term.

(3c)

(i) It fastens sales

(ii) It gives the seller full control over his/her item

(iii) Auctions are very organized and the rules are straightforward. 

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(7a)

(PICK ANY THREE)

(i) Ability to Listen: A good salesperson needs to satisfy a client’s needs. The only way to find out what those are is by listening to what each prospect is saying. The best salespeople aren’t always talking.

(ii) Empathy: A good salesperson knows how to feel what their customers feel. By getting inside a prospect’s skin, they know just how to sell a product or service. Empathy is a great way to anticipate what a customer want

(iii) Competitiveness: Salespeople who succeed enjoy measuring their skills against their peers. In a word, they’re competitive. They don’t just want to get better at what they do. They want to be better than everyone else.

(iv) Networking Ability: Good salespeople love to network. They get involved in their community and have many different business relationships. Networking is not so much a part of the job to them but the way they like to spend their time.

(v) Confidence: Believing in the product or service they are selling is essential. That comes across as a confidence that’s infectious and makes customers want to buy more.

(vi) Enthusiasm: A successful salesperson is always motivated. They are always ready to make a sale at any given moment and continually looking for possibilities.

(vii) Resiliency: Top earners know how to bounce back from a dry spell. They don’t get discouraged when the sales numbers are down. Rather, they look for innovative ways to turn things around.


(7b)

(i) Allows for detailed and personalized communication between your business and potential customers.

(ii) Gives sales team the chance to individually address any questions, concerns, or objections potential customers may have to move them closer to purchase.

(iii) Provides a personal, one-on-one connection between your organization and potential customers.

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(8a)

Prospecting is the process of identifying potential customers, finding them, and creating a base of leads with the goal of further communicating and converting them into paying customers. 

(8b)

(i) Finding quality prospects: Sales prospecting success relies on bringing in quality leads and building solid prospecting lists. Sometimes, leads from inbound marketing just are not a good fit making it difficult to get a good prospect who can be turned into a paying customer.

(ii) Getting their attention and a response: Modern prospects suffer from information overload and are being prospected constantly, so they’re savvier and less responsive than ever. This causes a huge delay in prospecting.

(iii) Building trust and establishing credibility: It takes extra hardwork to build trust with your prospects. The same way a prospect is being wooed somewhere, is same way he or she is prospected elsewhere.

(iv) Handling objections : This is another hinderance in prospecting. At some point, prospects will raise objections and sellers need to be ready to respond without losing their cool, or the deal.

(v) Time challenges: Sourcing prospects and contact details and logging activities takes a lot of time and manual work across multiple channels, sources, and tools.


2022 NABTEB SALESMANSHIP OBJECTIVES (OBJ) ANSWERS

1-10: BCBCAAACDA

11-20: ABDDADBCCB

21-30: CCACDACBDD

31-40: AABDBABCCA

41-50: ABDBBACADC


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