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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
tease the consumer
C
persuade the consumer
D
inform the consumer
2) Which of the following is not a common marketing strategy?
A
Providing financing options
B
Making the customer do product research
C
Repetition
D
Personal selling
3) What concept is best explained by the statement, ʺMoney spent here cannot be spent thereʺ?
A
Delayed gratification
B
Law of diminishing return
C
Significant purchase
D
Opportunity cost
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
The opportunity cost
D
Your buying motives
5) Which of the following is not a form of product positioning?
A
Packaging and color
B
Shelf positioning
C
Brand recognition
D
Financing
6) Getting the best deal on a purchase involves doing all of the following except:
A
Being first in line for a new product
B
Having patience
C
Shopping around to find the best deal
D
Negotiating
7) Which of the following is typically not a good place to find a deal?
A
Mall
B
Individuals
C
Online auctions
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
All of these
C
Walk away
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
Buying clothing at end-of-the-season sales
B
Buying clothing at end-of-the-season sales
C
Comparison shopping
D
Buying only name-brand products
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
All of these
C
Donʹt get caught up in the excitement and end up paying more than retail price
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
True
B
False
13) You should never wait overnight before making a big purchase if there is only one item left.
A
True
B
False
14) Repetition has proven to be an ineffective marketing technique.
A
True
B
False
15) Zero percent financing is nothing more than a really good marketing tool.
A
True
B
False
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
True
B
False
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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