Question

eens have cited ʺfriendsʺ as the strongest influence over their purchase decisions.
True
False
The purpose of advertising is to:
All of the above
Persuade the consumer
Inform the consumer
Tease the consumer
The process of communicating the value of a product or service to customers.
Marketing
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
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
An amount of money you spend, usually $300, that causes some pain to part with:
Opportunity cost
Significant purchase
Inflation has no effect on your buying power.
False
True
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 of the following is not a common marketing strategy?
Personal selling
Making the customer do product research
Repetition
Providing financing options
Young single adults should find an accountability partner with whom to discuss big purchases.
False
True
Zero percent financing is nothing more than a really good marketing tool.
False
True

Answer 1

1. True

2. All of the above

3. Marketing

4. Compare your purchase with a friend’s

5. Buyer’s remorse

6. Significant purchase

7. False

8. Branding

9. Making the customer do product research

10. True

11. True