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Chapter 22.2

Chapter 22.2. How to be a smart consumer. I. Preparing to shop. You can save a lot of money by planning in advance. Ways to prepare for shopping: Study advertisements Read consumer publications Shop at sales Use shopping lists Resist pressure and gimmicks Read labels and warranties.

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Chapter 22.2

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  1. Chapter 22.2 How to be a smart consumer

  2. I. Preparing to shop • You can save a lot of money by planning in advance. • Ways to prepare for shopping: • Study advertisements • Read consumer publications • Shop at sales • Use shopping lists • Resist pressure and gimmicks • Read labels and warranties

  3. II. Study Advertisements • A wise consumer reads ads for helpful information. • Rational Advertising: ads that try to convince consumers with facts and information. • Emotional Advertising: appeals to people’s feelings. What kind of ad would be more helpful?

  4. Emotional Vs. Rational

  5. III. Read consumer publications • Consumer magazines • Magazines that guide people with reviews on big purchases • Online forums and reviews • Do your research online before shopping

  6. IV. Shop at sales • Types of Sales • Promotional Sale: a special price on a new or seasonal product. • Clearance sale: a sale to clear out goods from a store to make room for new goods. • Loss leaders: when product’s price is set bellow the price of the good. Stores loose money on those products but hope you buy other things while at the store.

  7. V. Use Shopping Lists • Make a list of what you need before shopping. • Impulse buying: act of making unplanned purchases.

  8. VI. Resist Pressure and Gimmicks • Salespeople can use high-pressure tactics to get consumers to buy their goods and services. • Sales gimmicks like “super low prices” are often just to get you into the store.

  9. VII. Read Labels and warranties • Labels can help you know what you’re buying. The more information you have the better. • Warranty: written guarantee from the manufacturer that states under what condition a product can be returned, replaced ro repaired.

  10. VIII. Types of Warrantees • Implied: unwritten guarantees that cover the product’s functionality (make sure it works). • Express: written warrantees that come in two types: • Full: Covers the entire product usually for a specific amount of time. • Limited: only cover certain parts of a product or for a certain time.

  11. Practice with sales http://fffl.councilforeconed.org/activities/6-8/6-8.htm

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