Advertising Chapter 8 Quiz

Questions and Answers

A billboard that states 'Thomas Realty - A Name You Can Trust' would be regarded as:

Demand advertising

Institutional advertising (correct)

Specific advertising

Operational advertising

The advertising acronym AIDA stands for:

Attention, interest, desire, action (correct)

Attention, interest, demand, action

Ask, interact, demonstrate, approve

Ask, inform, demonstrate, approve

In real estate, we have learned that:

Prospective buyers who respond to newspaper ads are likely to buy a property other than the property advertised

Neither a nor b

It is best to advertise properties in areas or price ranges where other properties are also available

Both a and b (correct)

The best heading for a classified ad on a home would be:

The most desirable feature Signup and view all the answers

In advertising a fixer-upper property:

People are attracted to fixer-upper ads because they sense a bargain Signup and view all the answers

Which statement is true of display advertising?

All of the above Signup and view all the answers

Which of the following statements is true as to display advertising?

All of the above Signup and view all the answers

Which promotion would have the lowest cost to the broker?

Press release Signup and view all the answers

In advertising, the real estate agent should know that it is illegal to:

All of the above Signup and view all the answers

Which of the following is true as to the truth-in-lending law?

If the agent advertises the APR, the agent must include all credit terms Signup and view all the answers

Study Notes

Advertising Concepts and Definitions

Institutional Advertising: Promotes a company's image or reputation rather than a specific product (E.g., "Thomas Realty - A Name You Can Trust").
AIDA Model: A marketing framework that stands for Attention, Interest, Desire, and Action, guiding the advertising process.

Real Estate Advertising Insights

Property Advertising: Best strategies involve advertising properties in areas with similar listings and recognizing that newspaper ad responders may prefer other options.
Classified Ad Headings: Most effective headlines spotlight the property's most desirable feature to attract buyer attention.

Fixer-Upper Marketing Strategies

Appeal of Fixer-Uppers: Buyers are drawn to the potential value and bargains associated with fixer-upper properties.

Display Advertising Effectiveness

Visual Strategy: One large image outperforms multiple smaller pictures, and ads should be organized for logical reading (upper left to lower right).
Typeface Use: Limiting font variety enhances clarity; more than two typefaces may detract from the ad’s effectiveness.
Empty Space: White space in ads is crucial for highlighting messages and improving readability.

Cost-Effective Promotions

Low-Cost Promotions: Press releases represent the most economical method of promotion for brokers compared to billboards, direct mail, or Yellow Pages.

Legal Considerations in Real Estate Advertising

Legal Compliance: Agents cannot include misleading credit terms, conceal their licensed status, or use abbreviations instead of full firm names in advertisements.
Truth-in-Lending Law: Agents advertising APR must disclose all related credit terms to comply with federal regulations; bait-and-switch tactics are strictly prohibited.

Description

Test your knowledge on key advertising concepts from Chapter 8. This quiz covers essential terms like institutional advertising and the AIDA acronym, ensuring you grasp the fundamental principles of the advertising field. Perfect for students looking to reinforce their understanding of advertising strategies!