Consumer Skills - Final Review

What is the term for a well-known person's approval of a product or service?

• Promotion

• Endorsement

• Warranty

• Discount

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DOK Level 1: Recall

Which of the following best describes a "vendor"?

• A person or business that sells a product or service

• A temporary deal to increase sales

• A general descriptive name of a product

• A lowering of the price of a product

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DOK Level 1: Recall

Identify the term that refers to a manufacturer's promise to fix or replace a product that doesn't work.

• Brand name

• Warranty

• Endorsement

• Promotion

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DOK Level 1: Recall

Explain how a "discount" might affect consumer behavior.

• It encourages consumers to buy more due to reduced prices.

• It guarantees the product will be replaced if faulty.

• It involves a celebrity promoting the product.

• It is the name given to a product by a company.

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DOK Level 2: Skill/Concept

How does a "promotion" differ from a "discount"?

• A promotion is a temporary deal to increase sales, while a discount is a permanent price reduction.

• A promotion involves a celebrity, while a discount does not.

• A promotion is a temporary deal to increase sales, while a discount is a lowering of the price.

• A promotion is a type of warranty, while a discount is not.

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DOK Level 2: Skill/Concept

Analyze why a company might choose to use a "generic" name for its product.

• To make the product sound more exclusive and unique.

• To appeal to a broader audience by using a common descriptive name.

• To ensure the product is covered by a warranty.

• To increase the price of the product.

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DOK Level 3: Strategic Thinking

What strategic advantage does a "brand name" provide to a company?

• It allows the company to offer discounts more frequently.

• It helps in creating a unique identity and differentiating the product from competitors.

• It ensures the product is endorsed by celebrities.

• It guarantees a warranty for the product.

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DOK Level 3: Strategic Thinking

Which of the following is an example of "advertising"?

• A company reducing the price of its product.

• A commercial on TV encouraging people to buy a new smartphone.

• A store offering a warranty on electronics.

• A celebrity using a product in public.

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DOK Level 1: Recall

Discuss the potential impact of "endorsement" on a product's sales.

• It may decrease sales as people prefer generic products.

• It can increase sales by leveraging the popularity of a well-known person.

• It has no impact on sales as it is unrelated to pricing.

• It guarantees a warranty for the product.

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DOK Level 2: Skill/Concept

Evaluate the effectiveness of using a "warranty" as a marketing tool.

• It is ineffective as consumers do not value product guarantees.

• It can be effective as it provides consumers with assurance and confidence in the product.

• It is only effective if combined with endorsements.

• It is more effective than using a brand name.

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DOK Level 3: Strategic Thinking