how to be a smart consumer introduction to business and marketing
TRANSCRIPT
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HOW TO BE A SMART CONSUMER
Introduction to Business and Marketing
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Objectives
Identify types of
information that can
be helpful to a
consumer in making
wise shopping
decisions
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The Main Idea
To get the most value for your
shopping dollar, you can collect
information to make an informed
decision when you shop.
You should plan ahead so that you
can make the best choices and get
the best buys.
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Preparing to Shop
Consumers have to decide what a bargain is to them.
Being a smart consumer means planning in advance.
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What should you do before you shop?
Before Making a Purchase
StudyAdvertisement
Read Consumer Publications
Shop atSales
Use ShoppingLists
Resist Pressureand Gimmicks
Read Labelsand Warranties
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Study Advertisements
Rational advertising attempts to convince consumers with facts and information.
Emotional advertising appeals to people’s feelings.
When you look at advertising, decide whether it provides useful information.
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Example
Which of these ads provide useful information?
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Read Consumer Publications
Publications such as
Consumer Reports and
Consumers’ Research
Magazine give detailed
information about goods
that have been tested
and rated.
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Read Consumer Publications
Specialty magazines, such as
those for photographers or
hikers, rate equipment such
as cameras or hiking boots.
Libraries and online services
are good places to find
consumer publications.
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Shop at Sales
A promotional sale will usually be held at
a time when consumer purchases are down.
A clearance sale will often be held to
make room for new merchandise.
Store managers hope consumers will buy
other items along with loss leaders.
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Reasons for choosing a particular store
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Use Shopping Lists
Using a shopping list will
help prevent impulse
buying.
It will also help make
sure you don’t forget
something and have to
go back (inevitably
meaning you will buy
more)
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Resist Pressure and Gimmicks
High-pressure sales
tactics can be very
persuasive.
Always ask yourself if
what a salesperson is
saying is true, if you
need the product or
service, and if you can
afford it.
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Resist Pressure and Gimmicks
Sales gimmicks are
meant to grab
consumers’ attention.
Always examine any
deal that seems too
good to be true.Read the fine print
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Read Labels and Warranties
When you read a label, you might find
information that will lead you to decide not
to buy the product.
Federal law requires sellers of products
that cost more than $15 to make a
warranty available to customers before a
purchase.
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Types of Warranties
Implied Warranties
Express Warranties
Unwritten guarantee that a product is fit for its intended use.
Usually written and come in two forms.
Full
Limited
The seller will repair or replace the product, or give a refund. Repairs are usually free.
Covers only certain parts of a product. The buyer may have to pay for some repair costs.
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Activity
Log on and visit the Target, Wal-Mart and Macy’s weekly ads Google _____ weekly ad
Write a 1 page (typed, double spaced, times new roman 12 pt font) essay comparing and contrasting the following elements How long is the ad? What is the overall theme? Why do you think the store picked the theme for this
week? What products are advertised? What important information is included in the ad to
convince the customer to visit the store?