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Unit 3 Consumer Awareness Test Review MC
Test Description: Multiple Choice
Instructions: Answer all questions to get your test result.
1) The purpose of advertising is to:
A
tease the consumer
B
inform the consumer
C
all of the above
D
persuade the consumer
2) Which of the following is not a common marketing strategy?
A
repetition
B
personal selling
C
providing financing options
D
making the customer do product research
3) What is a safe assumption to make regarding companies and their marketing practices?
A
companies use all angles to aggressively compete for your money
B
all of these
C
companies know that competition is fierce for consumer dollars.
D
companies spend millions of dollars and do extensive research on advertising.
4) What concept is best explained by the statement money spent here cannot be spent there
A
delayed gratification
B
opportunity cost
C
law of diminishing return
D
significant purchase
5) Identify which method companies are using to compete for your money: 90 days same as cash
A
product positioning
B
personal selling
C
media
D
financing
6) Identify which method companies are using to compete for your money: Reputation for holding its value *
A
product positioning
B
media
C
financing
D
personal selling
7) Identify which method companies are using to compete for your money: Car salesman *
A
financing
B
product positioning
C
media
D
personal selling
8) Identify which method companies are using to compete for your money: TV commercials *
A
personal selling
B
product positioning
C
media
D
financing
9) Which of the following should you consider when making a significant purchase? *
A
all of these
B
your buying motives
C
if you can't pay cash, don't buy it
D
opportunity cost
10) Which of the following is not a form of product positioning? *
A
packaging and color
B
shelf positioning
C
financing
D
brand recognition
11) Which is not a power over purchase tactic? *
A
seek counsel
B
consider the opportunity cost
C
compare your purchase with a friend's
D
wait overnight
12) Getting the best deal on a purchase involves doing all of the following except: *
A
having patience
B
shopping around to find the best deal
C
negotiating
D
being first in line for a new product
13) Which of the following is typically not a good place to find a deal? *
A
consignment shops
B
online auctions
C
malls
D
individuals
14) Joe tries to bargain at an electronics store but is unable to negotiate the price down. What should be his next step. *
A
Shut up
B
Ask about 90-days-same-as-cash
C
all of the above
D
walk away
15) Which of the following is true about the If I take-away technique? *
A
This technique involves negotiating the lowest price possible, then throwing something else into the deal.
B
This technique is meant to take advantage of the other person in the negotiation.
C
Use this technique prior to negotiating price.
D
This technique should only be used when the ʺgood guy, bad guyʺ technique is used on you.
16) Which of the following is not recommended when you sell something you own ? *
A
get antiques or collectible items appraised and sell them slightly below that price
B
make it clear that, as a seller, you have walk-away power
C
be armed with information so that you be sure its a win-win deal
D
find an uninformed buyer and charge the highest price possible
17) Which of the following is not recommended if you are trying to make your money go further? *
A
buying only name-brand products
B
negotiating for a lower price
C
buying clothing at the end of the season sales
D
comparison shopping
18) When buying things at an auction, it is important that you: *
A
all of these
B
familiarize yourself with the item you want to purchase
C
set a limit on the amount you are willing to pay
D
don't get caught up in the excitement and end up paying more than retail price
19) Which of the following statements is false? *
A
Just asking for a great deal doesn't always mean that you'll get one
B
A great deal often just happens by accident.
C
Negotiation involves a conversation of back and forth, give and take
D
If negotiation is done correctly, it will end up being a win win deal
*select an answer for all questions
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