Consumer Awareness Review

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

• Law of diminishing return

• Opportunity cost

• Significant Purchase

• Delayed Gratification

Identify which method companies are using to compete for your money: Reputation for holding its value

• Personal Selling

• Product Positioning

• Financing

• Media

An amount of money you spend, usually $300, that causes some pain to part with

• Opportunity Cost

• Significant Purchase

• Financing

• Budget

Young single adults should find an accountability partner with whom to discuss big purchases.

• True

• False

Repetition has proven to be an ineffective marketing technique.

• True

• False

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

• "Be backs" in the car business

• Buyer's remorse

• Opportunity Cost

A good salesperson will answer a question with a...

• Question

• Answer

• Truth

• Lie

The purpose of advertising is to:

• Persuade The Consumer

• Inform the Consumer

• Appeal to the consumer

• All these choices

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

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

• Personal Selling

• Product Positioning

• Financing

• Media