Flashcards in chapter 6 Deck (35)
The persistent increase in the cost of goods and services or the persistent decline in the buying power of money
To buy an item with credit; paying over time.
Identify which method companies are using to compete for your money: TV commercials
Which is not a ʺpower over purchaseʺ tactic?
compare your purchase with a friend's
Feeling regret or concern after making a large purchase
Identify which method companies are using to compete for your money: Reputation for holding its value
Which of the following is not a need for consumer awarness
The process of communicating the value of a product or service to customers
Inflation has no effect on your buying power(t/f)
Teens have cited ʺfriendsʺ as the strongest influence over their purchase decisions(t/f)
Repetition has proven to be an ineffective marketing technique.(t/f)
The amount of stuff a person has is directly related to contentment and happiness.(t/f)
What concept is best explained by the statement, ʺMoney spent here cannot be spent thereʺ?
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:
Refers to the financial opportunity that is given up because you choose to do something else with your money.
Identify which method companies are using to compete for your money: ʺ90-days-same-as-cashʺ
Which of the following is not a common marketing strategy?
Making the customer do product research
Zero percent financing is nothing more than a really good marketing tool.(t/f)
When a company places an ad and offers no interest on your purchase for three years:
The cost of the financing is built into the price of the item
What is a safe assumption to make regarding companies and their marketing practices?
all of the above
The promotion of a product or service by identifying it with distinct characteristics; usually associated with public perception, quality or effectiveness
Which of the following should you consider when making a significant purchase?
all of the above
You should never wait overnight before making a big purchase if there is only one item left.(t/f)
Refers to the public’s ability to recall and recognize a brand by its logo, jingles, packaging, etc.
An amount of money you spend, usually $300, that causes some pain to part with
Which of the following is not a form of product positioning?
A budget has little effect on a person’s financial success unless he or she also develops power over purchase.(t/f)
An economic system based on a free market, profit motive, open competition and private ownership of the means of production
Young single adults should find an accountability partner with whom to discuss big purchases.(t/f)