1 / 16

Becoming a Smart Consumer

Becoming a Smart Consumer. Smart Consumers. Think about whether they need a product, whether they can afford it and how they can purchase it carefully Teenagers are often targeted by advertisers because they spend over $200 billion each year . http://www.youtube.com/watch?v=NlHUz99l-eo.

kira
Download Presentation

Becoming a Smart Consumer

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Becoming a Smart Consumer

  2. Smart Consumers • Think about whether they need a product, whether they can afford it and how they can purchase it carefully • Teenagers are often targeted by advertisers because they spend over $200 billion each year. • http://www.youtube.com/watch?v=NlHUz99l-eo

  3. Emotional Ads • Association: Products will associate you with popular ideas or symbols • Bandwagon: Everyone else is using the product. • Celebrity Appeal: Athletes and movie stars advertise the product. • Claims of authorities: Experts recommend the product. • http://www.youtube.com/watch?v=Auqp28Bk4RI • http://www.youtube.com/watch?v=buDWcDsR3rs • http://www.youtube.com/watch?v=CcWnfduAS_E

  4. Consumer Protection Laws • Laws prevent false advertising, unfair pricing and mislabeling

  5. Consumer Product Safety Act • Allows the government to ban, seize or prevent the sale of harmful products.

  6. Nutrition Labeling and Education Act • Federal government required most food manufacturers to list fats and calories, so most people would understand.

  7. Consumer Lawsuits! • Remedy: Government actions that make up for the harm to the consumer • Expectation Damages: Difference between the value that would be expected if the breaching party had fulfilled it’s promise. • Cease and Desist Order: A government agency can require a business to stop a forbidden practice • Consent Decrees: Voluntary agreements to end a practice that is claimed to be illegal • Rescission: Ask the court to cancel a contract

  8. Court Options • Criminal Cases: Sometimes sellers actions are considered crimes • Criminal Fraud: a salesperson knowingly misstates or misrepresents an important fact with intent to defraud • Civil Court: Lawsuits involving large amounts of money (More than $5,000) • Small Claims Court: Inexpensive, quick and no attorney required. (All cases are decided by judges) • Modeling Agency Scam

  9. Before a Purchase • Comparison Shopping: Compare prices and products • Each seller will have different return policies, installation fees etc. • Read the warranty • Read before signing a contract

  10. Better Business Bureau • Provides information about different sellers and collects reviews from other consumers • http://easternnc.bbb.org/consumers

  11. After the purchase-Direct Action! • Inspect the product immediately after the purchase • Read and follow any directions provide • Contact the seller first with any problems or defects • If there is no response, you may write directly to the President of the company • To find the manufacturer use the Thomas Registry of American Manufacturers.

  12. Consumer Agencies & Groups • Consumer Federation of America • Consumers Union • Safe Kids Worldwide • Better Business Bureau • National Association of Attorneys General • Federal Trade Commission • Food and Drug Administration • Consumer Product Safety Commission • U.S. Postal Service • Federal Communications Commission • National Highway Traffic Safety Administration • Federal Transit Administration • Federal Railroad Administration • Federal Aviation Administration

More Related