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