Asked by Kaileigh

Chapter 6: Pre-Test1 of 8
Select the correct answer.
Zero percent financing is nothing more than a really good marketing tool.
False
True
The amount of stuff a person has is directly related to contentment and happiness.
False
True
Repetition has proven to be an ineffective marketing technique.
False
True
A good salesperson will answer a question with a question.
False
True
The purpose of advertising is to:
All of the above
Persuade the consumer
Inform the consumer
Tease the consumer
Which of the following is not a common marketing strategy?
Personal selling
Making the customer do product research
Repetition
Providing financing options
Which of the following is not a form of product positioning?
Brand recognition
Financing
Packaging and color
Shelf positioning
Feeling regret or concern after making a large purchase.
Consumerism
Buyer's remorse
Identify which method companies are using to compete for your money: Reputation for holding its value
Product positioning
Media
Financing
Personal selling
Identify which method companies are using to compete for your money: TV commercials
Financing
Product positioning
Media
Personal selling
Which of the following is not a need?
Food
Utilities
Eating out
Housing
What is a safe assumption to make regarding companies and their marketing practices?
All of the above
Companies use all angles to aggressively compete for your money.
Companies spend millions of dollars and do extensive research on advertising.
Companies know that competition is fierce for consumer dollars.
Which of the following should you consider when making a significant purchase?
All of the above
The opportunity cost
If you can’t pay with cash, don’t buy it
Your buying motives
When a company places an ad and offers no interest on your purchase for three years:
They are not interested in making a profit
All of the above
The cost of the financing is built into the price of the item
They are showing their appreciation to you by giving you free money
Refers to the financial opportunity that is given up because you choose to do something else with your money.
Opportunity cost
Opportunity purchase
Dave tells the story of a man who bought his dream car, drove it home, but then returned it the next day after some money calculations. This story is an example of:
Opportunity cost
Buyer’s remorse
ʺBe backsʺ in the car business
Brand recognition
Identify which method companies are using to compete for your money: ʺ90-days-same-as-cashʺ
Personal selling
Financing
Product positioning
Media
Young single adults should find an accountability partner with whom to discuss big purchases.
False
True
You should never wait overnight before making a big purchase if there is only one item left.
False
True
Never buy something you do not fully understand.
True
False
An economic system based on a free market, profit motive, open competition and private ownership of the means of production.
Capitalism
Communism
The promotion of a product or service by identifying it with distinct characteristics; usually associated with public perception, quality or effectiveness.
Branding
Product positioning
Which is not a ʺpower over purchaseʺ tactic?
Seek counsel
Wait overnight
Consider the opportunity cost
Compare your purchase with a friend’s
The process of communicating the value of a product or service to customers.
Marketing
Product positioning
To buy an item with credit; paying over time.
Marketing plan
Financing
A budget has little effect on a person’s financial success unless he or she also develops power over purchase.
False
True
Inflation has no effect on your buying power.
False
True
Four common marketing tactics are:
Personal selling, financing, repetition, product positioning
Branding, personal selling, opportunity cost, financing
Competition, financing, opportunity cost, personal selling
Repetition, buyer’s remorse, product positioning, significant purchase
An amount of money you spend, usually $300, that causes some pain to part with:
Opportunity cost
Significant purchase

All Answers 1

Answered by GPT-5 mini AI
1. True
2. False
3. False
4. True
5. All of the above
6. Making the customer do product research
7. Financing
8. Buyer's remorse
9. Product positioning
10. Media
11. Eating out
12. All of the above
13. All of the above
14. The cost of the financing is built into the price of the item
15. Opportunity cost
16. Opportunity cost
17. Financing
18. True
19. False
20. True
21. Capitalism
22. Branding
23. Compare your purchase with a friend’s
24. Marketing
25. Financing
26. True
27. False
28. Personal selling, financing, repetition, product positioning
29. Significant purchase