Dave Ramsey Ch. 5 Consumer Awareness Flashcard 2

Front

What concept is best explained by the statement, 'If you spend your monthly savings on a new smartphone, you cannot use that money for a weekend getaway'?

Back

Opportunity cost

Front

Identify which method luxury car manufacturers are using to compete for your money: Reputation for holding its value

Back

Product Positioning

Front

An amount of money you spend, usually $300, that causes some pain to part with

Back

Significant Purchase

Front

Imagine, John, a young single adult, is contemplating purchasing a new car. Should he find an accountability partner with whom to discuss this big purchase?

Back

True

Front

Seeing the same commercial multiple times can significantly increase a product's sales.

Back

True

Front

During a product demonstration, a good salesperson will respond to a client's inquiry with a...

Back

Question

Front

The purpose of advertising is to: Persuade The Consumer, Inform the Consumer, Appeal to the consumer, All these choices

Back

All these choices

Front

What is a safe assumption to make regarding companies and their marketing practices?

Back

All of the above

Front

Identify which method companies are using to compete for your business: Car salesman

Back

Personal Selling

Front

Identify which method companies are using to compete for your money: TV commercials

Back

Media