Module 5 Your Purchasing Power

What is the main goal of marketing?

• To promote the buying and selling of a good or service 

• To sell goods at the highest price 

• To lower the cost of production

• To produce goods 

What is the first step in the marketing process?

• Intrest

• Awareness

• Action

• Purchase

Why do budget-friendly options drive competition in the market?

• They increase the demand for luxury goods

• They reduce the cost of advertising

• They encourage businesses to lower prices

• They focus solely on ethical consumerism.

What is one reason conscious consumers may pay extra for a product?

• They prefer products with exclusive branding.

• They want to support businesses aligned with their values.

• They are influenced by emotional marketing.

• They are uninterested in product quality.

Which marketing tactic relies on nostalgia or excitement?

• Emotional Connection

• Social Proof

• Problem Solving

• Peer Recommendations

What is an example of comparison shopping?

• Buying the first item you see in a store

• Reading online reviews for a product before purchasing

• Purchasing items from a viral trend

• Asking a friend for a recommendation

Which of the following is a disadvantage of comparison shopping?

• It saves money on big purchases.

• • It helps find better quality products.

• It can be time-consuming.

• It introduces new brands or models.

What role do peer recommendations play in consumer choices?

• They promote exclusive products

• They encourage impulsive buying

• • They influence purchases through friends' positive experiences

• They reduce the effectiveness of advertising

What is one way to stay "ad-aware" as a consumer?

• Focus only on luxury brands

• Avoid all forms of advertising

• Recognize marketing tactics and think critically about them

• Always follow social media trends

Why is balancing time and savings important in consumer choices?

• It helps you make impulsive decisions for small purchases

• It encourages long-term savings without planning

• It prioritizes effort for big-ticket items and simplifies small decisions

• It eliminates the need for comparison shopping