WorksheetsDave Ramsey Consumer Awareness
Total questions: 45
Worksheet time: 23mins
Financial Opportunity that is given up because you choose to do something else with your money
Opportunity Purchase
Opportunity Cost
Which of the following is not a form of product positioning?
Shelf positioning
Packaging and color
Financing
Brand recognition
The purpose of advertising is to
Tease the consumer
Inform the consumer
Persuade the consumer
All of the above
The process of communicating the value of a product or service to customers.
Product positioning
Marketing
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
When a company places an ad and offers no interest on your purchase for three years
They are not interested in making a profit
They are showing their appreciation to you by giving you free money
The cost of the financing is built into the price of the item
All of the above
Zero percent financing is nothing more than a really good marketing tool.
True
False
Repetition has proven to be an ineffective marketing technique.
True
False
Feeling regret or concern after making a large purchase.
Buyer's remorse
Consumerism
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
Identify which method companies are using to compete for your money: TV commercials
Personal selling
Financing
Media
Product positioning
Identify which method companies are using to compete for your money: Reputation for holding its value
Personal selling
Financing
Media
Product positioning
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
Identify which method companies are using to compete for your money: ʺ90-days-same-as-cashʺ
Personal selling
Financing
Media
Product positioning
The amount of stuff a person has is directly related to contentment and happiness.
True
False
Which is not a ʺpower over purchaseʺ tactic?
Compare your purchase with a friend’s
Consider the opportunity cost
Wait overnight
Seek counsel
Which of the following is not a common marketing strategy?
Providing financing options
Repetition
Making the customer do product research
Personal selling
A budget has little effect on a person’s financial success unless he or she also develops power over purchase.
True
False
A spur-of-the-moment, unplanned decision to buy a product or service.
Impulse buy
Buyer's remorse
Which of the following should you consider when making a significant purchase?
Your buying motives
If you can’t pay with cash, don’t buy it
The opportunity cost
All of the above
Young single adults should find an accountability partner with whom to discuss big purchases.
True
False
An economic system based on a free market, profit motive, open competition and private ownership of the means of production.
Communism
Capitalism
To buy an item with credit; paying over time.
Financing
Marketing plan
A good salesperson will answer a question with a question.
True
False
Inflation has no effect on your buying power.
True
False
The persistent increase in the cost of goods and services or the persistent decline in the buying power of money.
Deflation
Inflation
Never buy something you do not fully understand.
True
False
Refers to the public’s ability to recall and recognize a brand by its logo, jingles, packaging, etc.
Brand recognition
Market exposure
An amount of money you spend, usually $300, that causes some pain to part with:
Significant purchase
Opportunity cost
Four common marketing tactics are:
Repetition, buyer’s remorse, product positioning, significant purchase
Competition, financing, opportunity cost, personal selling
Branding, personal selling, opportunity cost, financing
Personal selling, financing, repetition, product positioning
Teens have cited ʺfriendsʺ as the strongest influence over their purchase decisions.
True
False
Identify which method companies are using to compete for your money: Car salesman
Personal selling
Financing
Media
Product positioning
You should never wait overnight before making a big purchase if there is only one item left.
True
False
We live in the most marketed to culture in the history of the world.
True
False
You should never buy a product from a good salesman
True
False
"Caveat emptor" means:
Buy what you want, pay for it later
Buyer beware
Buy here, pay here
Buyer, have fun
Sales 101 teaches you to:
Always just answer the question the customer has
Never try to get more information about what the customer needs
Always answer a question with another question
Never look the customer in the eye
People who know how to sell spend thousands of hours and dollars to learn how to talk to you and convince you to buy their stuff.
True
False
A child born today will see more than _____________ advertisements in their life.
50,000
3 billion
1 million
200,000
If you want to win with money and build wealth, you have to live on less than you make.
True
False
Americans spend a lot of money primarily because
They're trying to live a lifestyle they can't really afford
They know they'll have the money eventually
They're rich, they know what they're doing
They know those things are really important things
Repetition is a _________ that works on _________.
Marketing ploy; the weak
Powerful thing; everyone
Way to get your attention; children
Scam; the poor
Apple has associated their entire brand with
Outdated
Coolness
Geekiness
Tiredness
