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Chapter 5 test 3-23-15
|wait ____ before making a major purchase
|borrowing money and paying over time
|number of advertisements a person views daily
|Spend $60 on the latest video game, or give $60 to charity
|an amount of money spent that causes some pain
|creates consumer awareness for a trademark or product
|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
|true or false: color is a product positioning technique used to get the buyer's attention
|true or false: advertising slogans that have been around for a long time no longer work
|true or false: answering a question with a question is the sign of a well-trained salesperson
|true or false: typically, "90 days same-as-cash" contracts convert to payments with interest up to 24% APR.
|what percentage rate fail to do that?
|true or false: the opportunity cost of purchasing a new cell phone could be the purchase of a new prom dress
|Know the difference between a want and a need
|a need is something you cannot live without a want is something you can
|What are the four walls?
|food, shelter, transportation, and utilities
|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
|look over the case studies
|4 product positioning techniques
|1. brand recognition, 2. color, 3. shelf position, 4. packaging
|A "significant purchase" is normally over ___
|Always remember if you can't pay cash,..
|you can't afford it
|For every hour of television per week you watch, you spend an average of how much extra each year?
|We all have that spoiled, red-faced, grocery store kid living inside us. What is his name?
|What are thought to be the most effective medium for mass market advertising?
|The average consumer takes how long to pay off holiday bills?
|at least 6 months
|What percent of christmas shoppers will still be paying off the bills come next christmas?