Basics of Spending Decisions

Inflation impacts the cost of certain goods, affecting consumer decisions.

• It increases the cost, leading to reduced purchasing power.

• It decreases the cost, leading to increased purchasing power.

• It has no effect on the cost of goods.

• It stabilizes the cost, maintaining purchasing power.

What personal aspect should you consider when making a purchase decision?

• Budget

• Brand preference

• Product reviews

• All of the above

What should you weigh when making informed spending decisions?

• Budget and needs

• Brand and popularity

• Peer pressure

• Impulse and emotions

What does the 'A' in the PACED decision-making framework stand for?

• Action

• Alternative

• Analysis

• Assessment

What does the 'P' in the PACED decision-making framework stand for?

• Problem

• Price

• Possibility

• Popular

What does the 'E' in the PACED decision-making framework stand for?

• Evaluate

• Execute

• Examine

• Estimate

What does the 'C' in the PACED decision-making framework stand for?

• Consumer

• Create

• Copy

• Criteria

What does the 'D' in the PACED decision-making framework stand for?

• Decision

• Determine

• Develop

• Direct

Limited time offers in advertising are used to:

• Create a sense of urgency among consumers

• Provide long-term discounts

• Offer permanent price reductions

• Eliminate competition

What are impulse triggers in the context of advertising?

• Factors that influence spontaneous purchasing decisions

• Scheduled advertising campaigns

• Long-term brand loyalty strategies

• Customer feedback mechanisms