How to be a smart consumer

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					Chapter 22
      Learning Objectives
      After completing this chapter, you’ll be
      able to:
      1. Explain different ways to be a smart
         consumer.




Introduction to Business, Making Consumer Decisions   Slide 2 of 55
Chapter 22
       How to Be a Smart Consumer
   You can become a smart consumer by
   planning in advance.
   One way to be a smart
   consumer is by learning
   how to read
   advertisements.
Introduction to Business, Making Consumer Decisions   Slide 3 of 55
Chapter 22
                  Advertising = Persuasion
  Companies spend about $135 billion per year to
   persuade you to purchase their products and
   services.

  Most advertisements are one of two types:
  1.Rational
  2.Emotional
Introduction to Business, Making Consumer Decisions   Slide 4 of 55
Chapter 22
                Rational Advertising
  Attempts to convince you with facts and
    information.
  • Tries to persuade you that you should choose a
    specific product because it’s the best one for
    your purpose.



Introduction to Business, Making Consumer Decisions   Slide 5 of 55
Chapter 22
  Rational Example




Introduction to Business, Making Consumer Decisions   Slide 6 of 55
Chapter 22
              Emotional Advertising
  Appeals to your feelings.
       – If you buy their product you be the most popular
         person in town.




Introduction to Business, Making Consumer Decisions   Slide 7 of 55
Chapter 22
  Emotional Example




Introduction to Business, Making Consumer Decisions   Slide 8 of 55
Chapter 22
                Study Advertisements
   An ad that says “The best buy in
   town!” won’t necessarily help you                     emotional



   become a smarter consumer.
   An ad that says “9 oz. Sparkle-
   Plenty Toothpaste, $1.99” might
                                                         rational




   be very helpful.
Introduction to Business, Making Consumer Decisions   Slide 9 of 55
Chapter 22
  Rational or Emotional?




Introduction to Business, Making Consumer Decisions   Slide 10 of 55
Chapter 22
  Rational or Emotional?




Introduction to Business, Making Consumer Decisions   Slide 11 of 55
Chapter 22
  Rational or Emotional?




Introduction to Business, Making Consumer Decisions   Slide 12 of 55
Chapter 22
       Read Consumer Publications
                                 Magazines such as
                                 Consumer Reports and
                                 Consumers Research
                                 Magazine give detailed
                                 information about goods
                                 that have been tested
                                 and rated by them.
Introduction to Business, Making Consumer Decisions   Slide 13 of 55
Chapter 22
       Read Consumer Publications
   Libraries and online services are good
   places to find these sources of
   consumer information.

   www.consumerreports.org


Introduction to Business, Making Consumer Decisions   Slide 14 of 55
Chapter 22
                           Shop at Sales
   Some shopping
   experts say that the
   average consumer
   can save up to 15
   percent by taking
   advantage of sales.

Introduction to Business, Making Consumer Decisions   Slide 15 of 55
Chapter 22
                           Shop at Sales
           Buy 1
         Get 1 Free
                                        A promotional sale
                                        is one that gives you
                                        a special buy on a
                                        new product or a
                                        product that’s in
                                        season.

Introduction to Business, Making Consumer Decisions      Slide 16 of 55
Chapter 22
                           Shop at Sales
   A store might have a
   clearance sale to clear
   out goods that are going
   out
   of season or are no
   longer profitable in order
   to make room for new
   merchandise.                                       Slide 17 of 55
Introduction to Business, Making Consumer Decisions
Chapter 22
                           Shop at Sales
   During sales, look for
   products that are
   advertised as selling at
   a loss or below cost.

   These advertised specials are called
   loss leaders.
Introduction to Business, Making Consumer Decisions   Slide 18 of 55
Chapter 22




Introduction to Business, Making Consumer Decisions   Slide 19 of 55
Chapter 22
                    Use Shopping Lists
   Impulse buying
   is purchasing
   things on the spur
   of the moment.



Introduction to Business, Making Consumer Decisions   Slide 20 of 55
Chapter 22
                    Use Shopping Lists
                                            A shopping list will
                                            keep you from
                                            making unnecessary
                                            shopping trips and
                                            keep you from buying
                                            on the spur of the
                                            moment.

Introduction to Business, Making Consumer Decisions        Slide 21 of 55
Chapter 22
     Resist Pressure and Gimmicks
   Some salespersons use high-pressure
   tactics to try to get you to buy what
   they’re selling.




Introduction to Business, Making Consumer Decisions   Slide 22 of 55
Chapter 22
     Resist Pressure and Gimmicks
   Sales gimmicks are
   meant to grab your
   attention and get
   you into the store or
   draw you into
   buying something.

Introduction to Business, Making Consumer Decisions   Slide 23 of 55
Chapter 22
     Resist Pressure and Gimmicks
   Always closely
   examine any
   deal or bargain
   that seems too
   good to be true.


Introduction to Business, Making Consumer Decisions   Slide 24 of 55
Chapter 22
         Read Labels and Warranties
                                     You might find
                                     information on the
                                     label that will make
                                     you decide not to buy
                                     the product.


Introduction to Business, Making Consumer Decisions   Slide 25 of 55
Chapter 22
         Read Labels and Warranties
   A warranty is a legal
   document that states
   the rights and
   responsibilities agreed
   to by the consumer and
   the store or the
   manufacturer.
Introduction to Business, Making Consumer Decisions   Slide 26 of 55
Chapter 22
         Read Labels and Warranties
   Full warranties state that
   the seller will repair a
   product that doesn’t
   work, usually free of
   charge.
  It could also offer to replace the
  product or refund your money.
Introduction to Business, Making Consumer Decisions   Slide 27 of 55
Chapter 22
      Read Labels and Warranties
                       Full warranties are usually
                       good for a stated time
                       period, such as 90 days or
                       one year and cost the
                       customer $0 for repairs.
    Limited warranties may cover only certain
    parts of a product and cost the customer
    something for repairs.
Introduction to Business, Making Consumer Decisions Slide 28 of 55
    Graphic Organizer
Chapter 22
      Graphic Organizer
   Being a Smart Consumer
                                        Study
                                    advertisements


                    Read labels
                                                      Shop at
                       and
                                                       sales
                    warranties

                                    SMART
                                   COSUMERS
                       Read                             Resist
                     consumer                           sales
                    publications                      gimmicks

                                         Use
                                       shopping
                                         lists




Introduction to Business, Making Consumer Decisions              Slide 29 of 55
Chapter 22
  Consumer Shopping Video

  Any new ideas?




Introduction to Business, Making Consumer Decisions   Slide 30 of 55

				
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