PF Chapter 5 Lesson 3 The Marketing Machine

What is the goal of marketing?

• To convince consumers to buy a product

• To compete with other companies

• To conduct research on specific audiences

• To create brand recognition

What is personal selling?

• Selling products face-to-face

• Placing products strategically in stores

• Building brand recognition

• Offering sales and promotions

Why is it important to have a budget?

• To avoid buying unnecessary items

• To show off brand names

• To take advantage of sales and promotions

• To make convenient payments

What is brand recognition?

• The ability to easily remember a brand

• The belief that a brand will make you cooler

• The placement of products in stores

• The convenience of payment methods

What can a flashing SALE sign make consumers think?

• They are getting an amazing deal

• They need to buy the product immediately

• They will miss out if they don't make a purchase

• All of the above

How can convenient payment methods affect spending?

• They make spending more convenient

• They make spending less convenient

• They increase the likelihood of buying unnecessary items

• They decrease the likelihood of buying unnecessary items

What should you do if you can't afford to pay the full amount for a product?

• Buy it anyway and make payments

• Save up until you can afford it

• Use financing options to make the purchase

• Ask someone else to buy it for you