Answer the following briefly:
11. What makes a good seller? Give two characteristics.
12. Why is it important for an entrepreneur to know the difference between needs and wants?
13. Give one example of a product that meets a need and one that meets a want.
Need:
Want:
14-15. Give at least two demands in the school during opening of classes.
Answer (2)
A good seller is characterized by strong communication skills and empathy. Understanding the difference between needs (essentials) and wants (desires) is crucial for entrepreneurs to effectively market their products. Examples of needs and wants include water (need) and ice cream (want), along with school demands like supplies and uniforms at the start of classes.
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Two characteristics that make a good seller are effective communication skills and strong knowledge of the product. Effective communication is essential for understanding the customer's needs and clearly explaining how the product can meet those needs. Strong product knowledge ensures that the seller can answer any questions and provide detailed information to the customer.
It is important for an entrepreneur to know the difference between needs and wants because this helps in identifying the products or services that are essential versus those that are optional or luxurious. Understanding this distinction can aid in making informed business decisions such as pricing, marketing strategy, and target audience segmentation.
An example of a product that meets a need is food, as it is essential for survival. An example of a product that meets a want is a luxury watch, which is not necessary for daily living but is desired for its appearance or status symbol.
4-5. Two demands in the school during the opening of classes might include textbooks and school uniforms. Textbooks are essential for students to follow the curriculum, and school uniforms are often required to maintain a standard appearance among students.
