Chapter 5 test 3-23-15
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| seek wise | council
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| wait ____ before making a major purchase | overnight
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| borrowing money and paying over time | financing
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| number of advertisements a person views daily | 3,000
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| Spend $60 on the latest video game, or give $60 to charity | opportunity cost
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| Caveat Emptor | buyer beware
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| an amount of money spent that causes some pain | significant purchase
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| creates consumer awareness for a trademark or product | branding
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| Four Major Ways | 1. personal selling 2. money and easy interest rate as a marketing tool 3. internet, television, radio, and other media 4. product positioning
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| true or false: color is a product positioning technique used to get the buyer's attention | true
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| true or false: advertising slogans that have been around for a long time no longer work | false
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| true or false: answering a question with a question is the sign of a well-trained salesperson | true
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| true or false: typically, "90 days same-as-cash" contracts convert to payments with interest up to 24% APR. | true
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| what percentage rate fail to do that? | 88%
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| true or false: the opportunity cost of purchasing a new cell phone could be the purchase of a new prom dress | true
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| Know the difference between a want and a need | a need is something you cannot live without a want is something you can
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| What are the four walls? | food, shelter, transportation, and utilities
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| Describe the five steps to follow before making a significant purchase | 1. seek wise council, 2. wait overnight before making a major purchase, 3. don't buy something you don't understand, 4. opportunity cost, 5. consider your motives
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| look over the case studies |
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| 4 product positioning techniques | 1. brand recognition, 2. color, 3. shelf position, 4. packaging
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| A "significant purchase" is normally over ___ | $300
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| Always remember if you can't pay cash,.. | you can't afford it
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| For every hour of television per week you watch, you spend an average of how much extra each year? | $200
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| We all have that spoiled, red-faced, grocery store kid living inside us. What is his name? | immaturity
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| What are thought to be the most effective medium for mass market advertising? | television ads
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| The average consumer takes how long to pay off holiday bills? | at least 6 months
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| What percent of christmas shoppers will still be paying off the bills come next christmas? | 25%
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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