Fchd 2450 Exam 3

Companies use this to give brands a specific and unique image or position in the minds of consumers within a target segment

stealing an original idea or product and selling it.

making a look-alike copy i.e. knockoffs, products that look like the real thing but aren’t

the set of perceptions that consumers have formed about abrand (AE, Hollister)

how consumers view or rate a brand. How do they classifythe brand?

This consists of those born from 1980-2000.

Prepurchase

1.Assessing Need

2. Searching for information

3.Evaluating alternatives

4. Selecting a product or service

Purchase

5.Buying

Postpurchase

6.Evaluating after purchase through use and comparisons.

Introduction

Growth

Maturity

Dormancy/declining (and possibly revitalization)

Consumer awareness

Consumption

Loyalty

Consumer satisfaction

Reduce prices

Increase advertising or change ad placement Introduce a new product

Buy out the competition through mergers

Develop a new strategic plan

Improve customer service

Improve product quality

Advertising that exaggerates the characteristics of a product.

Federal Trade Commission (FTC)

Advertising the operates below the level of consciousness.

Rule that states that 20% of time spent produces 80% of the results and 80% of the time produces 20% of the results.

Concept created by Michael Solomon in which marketers sell and buy with us

It is the internet realm in which buying and selling takesplace.

Proposition that individuals vary in the extent to which they wish to be different.

Principles that guide purchases in reducing the numberof options.

Ways of using repetition to increase product recognition

Examples: jingles, slogans, taglines, etc.

National advertising

• Retail and local advertising

• Political and cause-based advertising

• Direct-response advertising

• Industrial advertising

• Professional Advertising

• Memory

• Exposure

• Attention-grabbing power

• Interpretation or understanding

Refers to the use of one’s unique physical traits to verify identity

Someone using your name or personal information without your permission

Actions of consumers or their agents to protect and promote consumer interest and seek empowerment in the context of the electronic marketplace.

• Product return policies

• Quality of merchandise

• Slow or poor customer service

• Refund and billing policies

• Privacy, security and trust issues

• Complex or difficult-to-navigate Websites

• Use secure connections and web sites

• Shop for known brands with known companies

• Keep passwords private

• Pay by Credit card

• Update virus program

• Keep a record

• Read the company’s online privacy policy

• Steal wallets

• Steal your mail

• Complete a change of address form to divert your mail

• Go through trash for personal data

• Fraudulently obtain your credit by posing as a landlord or employer needing your information.

• Use personal information you share on the internet

Ask questions about how money is used (make sure most of it gets tothose who are in need)

Be sure how the money will be spend where you want it spent.

Unattached single family dwellings

Multi unit dwellings

Payment for use of property

3 year cut off for rent vs buying

A legal document between renter and landlord describing the rights and responsibilities of both

The property can be leased by the original tenant to another tenant.

An act based on prejudice or bias

an illegal practice that draws a red line around an area and marketing that areas as not receiving the same treatment of other areas regarding financing and housing.

luring people into loans they can’t really afford, usually by borrowing against the equity in their homes or a relative’s home.

1. Advertising “We give credit to anyone” or “poor credit, no problem”

2. Rushing the person to sign immediately

3. Asking for a large fee up front to see if the potential homeowner qualifies for a loan.

4. Offering an unusually low mortgage rate compared to the general market

5. Offering small monthly payments with a large balloon payment at the end.

Borrowing against the equity or value you have built upon your home.

Pays the homeowner in monthly advances or through aline of credit until the death of the homeowner.

1. Do I really need the money?

2. Is there a minimum or maximum monthly payment?

3. What is the annual percentage rate? Is it set or adjustable?

4. Are there any annual fees or transaction fees?

5. How long is the loan for?

• Less money is needed up front.

• Monthly payments may be less than the payments when a car is bought.

• The lease may be paid by an employer or may be a tax deduction if the owner owns a business that uses the car.

• The vehicle isn’t owned, so it is not an investment with a return.

• Extra charges may be added when the vehicle is turned in.

1. Do comparison shopping at area dealerships orthrough online services or buying services such as theAmerican Automobile Association (AAA).

2. Shop in advance for the best financing option.

3. Test-drive cars to get a sense of how they handle and whether they fit your size, shape, and driving behavior.4. Read the “Buyer’s Guide” sticker required to bedisplayed in the window of the car.

5. Negotiate the price.

6. Find out if the manufacturer is offering rebates.

7. Remember that buying off the lot may bring thelowest price because that is in-stock inventory that hasto move, but ordering a car from a dealer or servicewill get the desired features and will omit the ones notcared about.

1. Examine the car yourself in daylight. Research the makeand model, and know prices and the seller.

2. Test-drive the car over varied road conditions.

3. Inspect the car’s maintenance record. Check with thedealership or the previous owner if the current owner’srecord is incomplete.4. Hire a mechanic to inspect the car. Safety is the mainconcern.

5. Get all promises in writing (spoken promises are difficultto enforce)

6. Keep the buyer’s guide for reference after the sale

7. Check out the mechanical and electrical systems onthe car as well as any other major problem areas

A law allowing owners of new vehicles that are repeatedly breaking down to get their money back or a replacement car.