Consumer Awareness Competency Quiz

Explanation
The term "generic" refers to a product that is similar or equivalent to a well-known name-brand product in terms of qualities or contents. It is a general term used to describe these types of products, which are often offered at a lower price compared to the branded version. The term "generic" is commonly used in the retail industry to differentiate these products from their branded counterparts.

Explanation
The purpose of advertising is to inform consumers about a product or service and also to convince them to make a purchase. Advertising provides information about the features, benefits, and availability of a product, helping consumers make informed decisions. At the same time, it uses persuasive techniques to create desire and convince consumers that the product or service will meet their needs or desires. Therefore, the correct answer is both 1 and 2.

Explanation
Competition refers to a situation where multiple producers or suppliers of a good or service exist, and each one strives to attract the majority of consumers to purchase their product. In a competitive market, companies engage in various strategies such as price reductions, product differentiation, and marketing campaigns to gain a competitive edge over their rivals. This intense rivalry benefits consumers as it leads to lower prices, improved quality, and increased innovation.

Explanation
A consumer advocate is someone who promotes and seeks to protect the causes or interests of consumers. They work to ensure that consumers are treated fairly and have access to safe and reliable products and services. They may advocate for consumer rights, fight against fraudulent practices, and work towards creating a more transparent and accountable marketplace.

Explanation
Childproof refers to the process of making a product safe and secure in a way that it cannot cause harm or injury to a small child. This can involve adding safety features such as child-resistant locks, caps, or covers to prevent children from accessing potentially dangerous items or areas. Childproofing is important to ensure the well-being and safety of young children and to prevent accidents or injuries.

Explanation
Fraud refers to the deliberate act of misrepresenting information with the intention of deceiving someone into making a purchase. It involves dishonesty and manipulation in order to gain a financial advantage. This can include various forms of deceit such as false advertising, identity theft, or pyramid schemes. Fraud is considered illegal and unethical, as it exploits the trust and vulnerability of individuals for personal gain.

Explanation
The correct answer is "Right" because in marketing, the consumer is considered to be always right. This means that their preferences, opinions, and needs should be the primary focus of any marketing strategy. By understanding and catering to the consumer's wants and desires, businesses can effectively meet their needs and create successful marketing campaigns. This approach recognizes the power of the consumer in shaping the market and emphasizes the importance of customer satisfaction.

Explanation
Repetition is the most common marketing strategy because it helps to reinforce brand awareness and recognition among consumers. By repeatedly exposing customers to a brand or message, it increases the likelihood that they will remember and consider it when making purchasing decisions. Repetition also helps to build trust and credibility over time. Through consistent repetition of advertising and marketing efforts, companies can effectively reach and engage their target audience, ultimately leading to increased sales and brand loyalty.

Explanation
When a manufacturer stops production and refunds the purchase price of items already sold, it is referred to as a recall. This typically happens when there is a defect or safety issue with the product that could potentially harm consumers. The manufacturer takes responsibility for the issue and takes steps to rectify it by recalling the product from the market and offering refunds to those who have already purchased it.