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Ch. 6 Test Review
Test Description: Test Prep.
Instructions: Answer all questions to get your test result.
1) Which of the following is not a need?
A
Eating out
B
Utilities
C
Housing
D
Food
2) The purpose of advertising is to:
A
Persuade the consumer
B
All of the above
C
Tease the consumer
D
Inform the consumer
3) Which of the following is not a common marketing strategy?
A
Providing financing options
B
Personal selling
C
Making the customer do product research
D
Repetition
4) When a company places an ad and offers no interest on your purchase for three years:
A
The cost of the financing is built into the price of the item
B
They are showing their appreciation to you by giving you free money
C
They are not interested in making a profit
D
All of the above
5) What is a safe assumption to make regarding companies and their marketing practices?
A
All of the above
B
Companies know that competition is fierce for consumer dollars.
C
Companies use all angles to aggressively compete for your money.
D
Companies spend millions of dollars and do extensive research on advertising.
6) What concept is best explained by the statement, Money spent here cannot be spent there?
A
Significant purchase
B
Opportunity cost
C
Law of diminishing return
D
Delayed gratification
7) Identify which method companies are using to compete for your money: 90-days-same-as-cash
A
Media
B
Financing
C
Product positioning
D
Personal selling
8) Identify which method companies are using to compete for your money: Reputation for holding its value
A
Media
B
Financing
C
Product positioning
D
Personal selling
9) Identify which method companies are using to compete for your money: Car salesman
A
Personal selling
B
Media
C
Product positioning
D
Financing
10) Identify which method companies are using to compete for your money: TV commercials
A
Product positioning
B
Media
C
Personal selling
D
Financing
11) Four common marketing tactics are:
A
Competition, financing, opportunity cost, personal selling
B
Branding, personal selling, opportunity cost, financing
C
Repetition, buyer's remorse, product positioning, significant selling
D
Personal selling, financing, repetition, product positioning
12) Which of the following should you consider when making a significant purchase?
A
The opportunity cost
B
All of the above
C
If you can't pay with cash, don't buy it
D
Your buying motives
13) Which of the following is not a form of product positioning?
A
Shelf positioning
B
Financing
C
Packaging and color
D
Brand recognition
14) Which is not a power over purchase tactic?
A
Consider the opportunity cost
B
Wait overnight
C
Seek counsel
D
Compare your purchase with a friend's
15) A good salesperson will answer a question with a question.
A
False
B
True
16) Never buy something you do not fully understand.
A
False
B
True
17) The amount of stuff a person has is directly related to contentment and happiness.
A
True
B
False
18) Young single adults should find an accountability partner with whom to discuss big purchases.
A
False
B
True
19) Inflation has no effect on your buying power.
A
True
B
False
20) Repetition has proven to be an ineffective marketing technique.
A
False
B
True
*select an answer for all questions
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