MMM Ch 5 And 6 Review Question Preview (ID: 24315)
5 And 6 Study Guide.
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When you promote a product or service by identifying it with a distinct characteristic you are ___ it.
a) branding
b) changing
c) moving
d)
A significant purchase is normally anything over __?
a) $300
b) $50
c) $1000
d)
When you feel regret or concern after making a large purchase you have
a) buyer's remorse
b) buyer's happiness
c) no feelings
d)
Caveat emptor is Latin for,
a) buyers beware
b) buyer's remorse
c) buyer's happiness
d)
When you buy an item with credit and pay for it over time you
a) finance it
b) pay cash for it
c)
d)
Which is a type of product positioning
a) packaging
b) price
c) customer reviews
d)
What is a financial opportunity that is given up because you choose to do something else with your money?
a) opportunity cost
b) buyer's remorse
c) opportunity benefit
d)
What is the amount of money you spend that causes some pain to part with, usually about $300?
a) significant purchase
b) necessary purchase
c) easy purchase
d)
What is a merit based form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements
a) scholarship
b) grant
c) FAFSA
d)
What is form of federal or state financial aid that does not need to be repaid?
a) grant
b) scholarship
c) work study
d)
What is a form that is completed annually by current and prospective college students to determine their eligibility for financial aid?
a) FAFSA
b) grant
c) work study
d)
What is a program that allows students to work part time while continuing their studies?
a) work study
b) grant
c) scholarship
d)
___ buy something you do not fully understand
a) never
b) always
c) sometimes
d)
What is a process of communicating the value of a product or service to customers?
a) marketing
b) purchasing
c) branding
d)
Our culture thinks that student loan debt is ___ and the only acceptable way to pay for college
a) normal
b) unusual
c) necessary
d)
You should ___ wait overnight to make a major purchase so you have time to think about it
a) always
b) never
c) sometimes
d)
By asking yourself why did I buy this you are looking at your
a) buyer's remorse
b) financing options
c) conscience
d)
Being able to recognize a brand by its logo, song, or characteristic is known as
a) brand recognition
b) popularity recognition
c) buyer recognition
d)
The total estimated student loan debt unpaid is over
a) 1 billion
b) 7 trillion
c) 1 trillion
d)
What is an undergraduate academic degree awarded by colleges upon completion of 2 years of studying?
a) associates degree
b) bachelor degree
c) trade school degree
d)
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