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D/S Unit 5 Review
Test Description: D/S Final Review
Instructions: Answer all questions to get your test result.
1) The purpose of advertising is to
A
all of these
B
inform the consumer
C
tease the consumer
D
persuade the consumer
2) Which of the following is not a common marketing strategy?
A
Providing financing options
B
Repetition
C
Personal selling
D
Making the customer do product research
3) What concept is best explained by the statement, ʺMoney spent here cannot be spent thereʺ?
A
Opportunity cost
B
Significant purchase
C
Law of diminishing return
D
Delayed gratification
4) Which of the following should you consider when making a significant purchase?
A
If you can't pay cash, don't buy it
B
All of these
C
Your buying motives
D
The opportunity cost
5) Which of the following is not a form of product positioning?
A
Financing
B
Brand recognition
C
Packaging and color
D
Shelf positioning
6) Getting the best deal on a purchase involves doing all of the following except:
A
Having patience
B
Negotiating
C
Shopping around to find the best deal
D
Being first in line for a new product
7) Which of the following is typically not a good place to find a deal?
A
Online auctions
B
Mall
C
Individuals
D
Consignment shops
8) Joe tries to bargain at an electronics store but is unable to negotiate the price down. What should be his next step?
A
Be silent
B
Walk away
C
All of these
D
Ask about 90-days-same-as-cash
9) Which of the following is not recommended if you are trying to make your money go further?
A
Comparison shopping
B
Buying only name-brand products
C
Buying clothing at end-of-the-season sales
D
Buying clothing at end-of-the-season sales
10) When buying things at an auction, it is important that you:
A
Set a limit on the amount you are willing to pay
B
Donʹt get caught up in the excitement and end up paying more than retail price
C
All of these
D
Familiarize yourself with the item you want to purchase (quality, condition, age, etc.)
11) A good salesperson will answer a question with a question.
A
False
B
True
12) Never buy something you do not fully understand.
A
False
B
True
13) You should never wait overnight before making a big purchase if there is only one item left.
A
False
B
True
14) Repetition has proven to be an ineffective marketing technique.
A
False
B
True
15) Zero percent financing is nothing more than a really good marketing tool.
A
False
B
True
16) Using cash gives you more bargaining power than using credit.
A
True
B
False
17) Being married (or emotionally attached) to a purchase will cause you to lose bargaining power.
A
False
B
True
18) Learning to be quiet is actually a powerful tool in negotiation.
A
True
B
False
*select an answer for all questions
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