Transcript Who affects our choices of what we buy?

Who affects our
choices of what we
buy?
Bountiful High School Financial Literacy Course
Alice making
decisions…
http://www.youtube.com/watch?v=G4fHreyRPY&feature=related
Types of Influences
 Cultural
 Language, the way someone is raised, geographic
location
 Social
 Peer pressure, fads, marketing, advertising
 Emotional
 Binge spending, comfort shopping, fear of making a
decision
Peer Pressure
 The influence others have on an
individual’s personal decisions.
Forms of Peer Pressure as it
Relates to Purchasing Decisions
 Friends
 Direct Mail
 Newspapers
 Commercials
 Magazines
 Catalogs
 Telephone
 Radio
Directories
Advertisements
Psychology and
Advertising
http://www.youtube.com/watch?v=EC7VLjIw8hY
Emotional Factors Related to
Peer Pressure
 Gossip
 Fear
 Acceptance
 Clubs
 Disapproval
 Athletics
 Insecurities
 Cliques
 Boyfriend/Girlfriend  Rich/Poor
 Sarcasm
Limited Financial
Resources
Tommy is 17 and lives with his single
mother who is unemployed. Tommy
works at the video store after school and
on weekends to help her pay rent. Prom
is in three weeks and he really wants to
take his girlfriend. However, his
paycheck is barely enough to cover the
necessities for him and his mother. What
are the sources of pressure that Tommy
is feeling? What would you advise
Tommy to do? What would you do?
Scarcity
“Scarcity
is an economic principle stating
that because of limited resources, an
economic system cannot possibly
produce all the goods and services that
people want; therefore, choices must
be made about how the limited
resources will be used.”
-Consumer Economics & Education
Marketing, Advertising and Sales
Strategies/Techniques
People who sell products and services are
fishing for customers. They lure them in with
sales, coupons, and other enticements.
Unlike fish, consumers can benefit in this
situation – if they know how to take
advantage of special purchasing
opportunities.
WHO SAID IT?
 1. Breakfast of Champions. Wheaties
 2. Eat Fresh. Subway
 3. Eat Mor Chikin! Chick-fil-a
 4. Every kiss begins with Kay, Kay Jewelers
 5. Give me a break, give me a break; break me off
a piece of that Kit Kat Bar.
 6. Get the door, it's Dominos
 7. Got Milk?
 8. I'm lovin' it. McDonalds
 9. If it doesn't get all over the place, it doesn't belong in
your face. Carls Jr.
 10. It's finger lickin' good. KFC
 11. Just Do It. Nike
 12. Like a good neighbor, State Farm is there.
 13. Think outside the bun. Taco Time
 14. M'm! M'm! Good! Campbell’s Soup
 15. Maybe she's born with it. Maybe it's Maybelline
 16. Melts in your mouth, not in your hands. M&M’s
 17. More saving. More doing. Home Depot
 18. It keeps going and going and going. Energizer
 19. Obey your thirst. Sprite
 20. So easy a caveman can do it. Geico
 21. Sometimes you feel like a nut, sometimes you
don't. Almond Joy
 22. There's always room for Jell-0
 23. Where a kid can be a kid. Chuck-E-Cheese
 24. You're in good hands with Allstate
 25. The greatest fun spot you’ll ever know.
 Cherry Hill
 26. Anytime is Taco Time
 27. It’s what fun is! Lagoon
 28. Pop-pop, fiz-fiz, oh what a relief it is! Alka-seltzer
 29. The happiest place on earth! Disneyland
 30. Life elevated. Utah
 Science of persuasion
 http://www.youtube.com/watch?v=cFdCzN7RYbw
 Advertising Techniques
 http://www.youtube.com/watch?v=NdLsQcYyAcc&f
eature=related
 Advertiser vs. Consumer
 http://www.youtube.com/watch?v=heSudgtfIk&feature=related
a.
____________
b.
____________
c.
____________
d.
____________
f. ____________
e.
____________
h.
g.
____________
____________
i. ____________
l. ____________
j. ____________
n.
____________
p.
____________
k.
____________
n.
____________
q.
____________
m.
____________
o.
____________
r. ____________
s.
a. ___Sprite___
b. ___Ore Ida____
c.
___Kellogg's___
d. KFC
f. ___Adidas___
e. ___Lay’s____
j. Betty Crocker
n.
____Sony____
p. _Coca Cola_
h. Western
g. ___Honda___
Family
k. _Chevrolet_
n.
___Google___
q.
___Kleenex___
l. _Ocean
Spray_
i. General Mills
m. _Smucker’s_
o. __Staples___
r. American
Express
s. ___NBA___
Examples of Marketing,
Advertising and Sales Strategies
 Clearance Sales
 Attractive Décor
 Holiday Sales
 Background Music
 Coupons
 Items purchased most
 Rebates
often are in back of
store (bread/milk)
 Most profitable items
are given prominent
positions
 Sweepstakes
 Contests
 Sales People
Opportunity Cost
 Refers to what a person gives up when
a decision is made.
 This cost, often called a trade-off, may
involve one or more of your resources:
• Time
•Money
• Effort
Commercial Break
 In your group, you are to come up with an




commercial for your product
You will include assigned advertising technique
You will act out a commercial or come up with a
jingle and sing it
Each group member must participate
Creativity is a must!