Chapter 6 Study Guide (Dave Ramsey)

The purpose of advertising is to

• Tease the consumer

• Inform the consumer

• Persuade the consumer

• All of the above

Tags

CCSS.RI. 9-10.8

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.8.8

CCSS.RI.9-10.5

The process of communicating the value of a product or service to customers.

• Product positioning

• Marketing

• Caveat Emptor

• Brand recognition

Which of the following is not a need?

• Housing

• Eating out

• Utilities

• Food

The promotion of a product or service by identifying it with distinct characteristics; usually associated with public perception, quality or effectiveness.

• Product positioning

• Branding

• Significant Purchase

• SHS Bulldogs

Repetition has proven to be an ineffective marketing technique.

• True

• False

Tags

CCSS.RI. 9-10.8

CCSS.RI.11-12.5

CCSS.RI.11-12.8

CCSS.RI.8.8

CCSS.RI.9-10.5

Feeling regret or concern after making a large purchase.

• Buyer's remorse

• Consumerism

• Inflation

• Opportunity Cost

What is a safe assumption to make regarding companies and their marketing practices?

• Companies know that competition is fierce for consumer dollars.

• Companies spend millions of dollars and do extensive research on advertising.

• Companies use all angles to aggressively compete for your money.

• All of the above

What concept is best explained by the statement, ʺMoney spent here cannot be spent thereʺ

• Law of diminishing return

• Opportunity cost

• Significant purchases

• Delayed gratification

Tags

CCSS.HSF-LE.A.1B

Dave tells the story of a man who bought his dream car, drove it home, but then returned it the next day after some money calculations. This story is an example of:

• Brand recognition

• ʺBe backsʺ in the car business

• Buyer’s remorse

• Opportunity cost

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Which of the following is not a common marketing strategy?

• Providing financing options

• Repetition

• Making the customer do product research

• Personal selling