Chapter 20-Personal Desion Making

Question 0

All activities related to production and distribution of goods and services in a geographic area

Answer 0

Economy

Question 1

Principles by which a person lives

Answer 1

Values

Question 2

Advertising that promotes the image of a store, company, or retail chain

Answer 2

Company advertisement

Question 3

A specific consumer good to which advertisements are designed to appeal

Answer 3

Target market

Question 4

Promotes a general a general product group without regard to where the product is purchased

Answer 4

Industry advertisement

Question 5

Making an item to sell for $5.98 instead of $6.00

Answer 5

Odd-number pricing

Question 7

On who purchases only loss leader items

Answer 7

Cherry picker

Question 8

New ideas, methods, or devices that bring about change an progress

Answer 8

Innovations

Question 9

To attempt to sell a specific product to a specific customer

Answer 9

Micro marketing

Question 10

What you give up buying in order to buy something else

Answer 10

Opportunity cost

Question 11

Money left over when expenses are paid and can be spent as you wish

Answer 11

Discretionary income

Question 12

You should keep a written record of the information you collect on choices of product and services

Answer 12

True

Question 16

Time, money, energy, skills, abilities, and available credit, which add to your purchasing power

Answer 16

Personal resources

Question 17

A long-established practice, which is the same as an unwritten law

Answer 17

Custom

Question 18

The primary goal of advertising is to create in the consumer the desire to purchase a product

Answer 18

True

Question 19

Those things important to society as a whole, the costs and benefits of which are shared by all

Answer 19

Collective values

Question 20

Advertising that attempts to sell a specific good or service

Answer 20

Product advertisement

Question 21

Punched by stores with each purchase made by a customer

Answer 21

Frequent-buyer cards

Question 22

What can coupons not be used for

Answer 22

Redeemed for cash

Question 24

Your friends, relatives, and co-workers rarely influence your buying decision

Answer 24

False

Question 25

What is are not considered to be an outside factor that influences consumer spending

Answer 25

Values and goals

Question 26

When interest rates are high, fewer people are able to make purchases that require the use of credit

Answer 26

True

Question 27

The physical environment and quality of life are known as environmental concerns

Answer 27

True

Question 28

In order to attract customers into stores, retailers may use…

Answer 28

Displays, frequent buyer cards, contests and games

Question 29

A billboard advertisement promoting the use of milk is an example of….

Answer 29

Industry advertising

Question 31

What is not a promotional statement to get customers into the store

Answer 31

Cherry pickers

Question 32

Ingredients necessary for maintaining physical life

Answer 32

Needs

Question 33

If a product name is mentioned several times during commercials, it is an example of

Answer 33

Product advertising

Question 34

Values are quick to change while goals are usually based on traditions and lifelong results of heredity and environment

Answer 34

False

Question 35

An item of merchandise marked down to an unusually low price, sometimes below store’s actual cost

Answer 35

Loss leader

Question 37

Spending patterns vary accordingly to age and sex, as well as within different stages in one’s life

Answer 37

True

Question 40

With company advertising, price of merchandise are not emphasized; the purpose is to get you to retain loyalty to the store

Answer 40

True