Transcript How to Be A Smart Consumer

HOW TO BE A SMART
CONSUMER
Introduction to Business and Marketing
Objectives

Identify types of
information that can be
helpful to a consumer in
making wise shopping
decisions
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.
Preparing to Shop
Consumers have to decide what a
bargain is to them.

Being a smart consumer means
planning in advance.

What should you do before you shop?
Study
Advertisement
Read Labels
and Warranties
Read Consumer
Publications
Before Making a
Purchase
Resist Pressure
and Gimmicks
Shop at
Sales
Use Shopping
Lists
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.
Example
Which of these ads provide useful information?
Read Consumer Publications
Publications such as Consumer
Reports and Consumers’ Research
Magazine give detailed
information about goods that
have been tested and rated.
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.
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.
Reasons for choosing a particular store
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)
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.
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
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.
Types of Warranties
Implied Warranties
Unwritten guarantee that
a product is fit for its intended
use.
Express Warranties
Usually written and come in
two forms.
Full
The seller will repair or replace the
product, or give a refund.
Repairs are usually free.
Limited
Covers only certain parts of a product.
The buyer may have to pay for some
repair costs.
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?
