Dave Ramsey Ch. 5 Consumer Awareness Flashcard 3

Front

What concept is best explained by the statement, 'If you spend your monthly savings on a new smartphone, you cannot use that money for a weekend getaway'?

Back

Opportunity cost

Front

Identify which method luxury car manufacturers like Mercedes-Benz are using to compete for your money: Reputation for holding its value

Back

Product Positioning

Front

Imagine you're at a tech store, eyeing a new gadget priced at $300. The thought of buying it makes you hesitate because it's a significant amount of money for you. This scenario is an example of what?

Back

Significant Purchase

Front

Should John, a young single adult, find an accountability partner with whom to discuss purchasing a new car?

Back

True

Front

Seeing the same Coca-Cola commercial multiple times can significantly increase Coca-Cola's sales.

Back

True

Front

During a product demonstration at a tech expo, a good salesperson will respond to a client's inquiry with a...

Back

Question

Front

Imagine a new smartphone brand is launching its latest model. The purpose of its advertising campaign would be to:

Back

Persuade, Inform, and engage the Consumer.

Front

When considering the smartphone market, what is a safe assumption to make regarding companies like Apple and Samsung and their marketing practices?

Back

Companies know that competition is fierce for consumer attention and loyalty and companies spend millions of dollars and do extensive research on advertising to stand out.

Front

Identify which method companies are using to compete for your business: Car salesman

Back

Personal Selling

Front

Identify which method companies are using to compete for your money: TV commercials

Back

Media