Consumer In The Market Exam 2

Front 1

Bait and Switch advertising

Back 1

an alluring but insincere offer to sell a high-quality product or service at a bargain price that the advertiser does not intent or want to sell

Front 2

High Balling

Back 2

technique used by an automobile salesperson who offers a shopper an extra high trade in allowance on his or her present car to create interest in a vehicle even though the offer may later be repudiated by the salesperson's manager.

Front 3

Low Balling

Back 3

unscrupulous technique used by a salesperson who offers to sell a shopper a product at an unusually low and unrealistic price that will not be honored by the sales manager when the customer wants to make the purchase.

Front 4

Multi-Level network Marketing

Back 4

LEGITIMENT sales method that uses a network of independent distributers to sell consumer products; ex. Mary Kay cosmetics

Front 5

Negative Option

Back 5

consumer decision making situation in which the consumer must notify the company that a particular selection is not desired to receive it.

Front 6

Odometer Fraud

Back 6

occurs when an odometer is rolled back or disconnected and when incorrect info is given about the accuracy of the odometer reading

Front 7

Lemon Laws

Back 7

vehicles with serious defects that have been repurchased under the requirements of state lemon laws

Front 8

Magnuson-Moss Warranty Act

Back 8

Powers of Regulatory agencies