Chapter 22.2
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Transcript of Chapter 22.2
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H O W T O B E A S M A RT C O N S U M E R
CHAPTER 22.2
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I. PREPARING TO SHOP
A. You can save a lot of money by planning in advance.
B. Ways to prepare for shopping:1. Study advertisements2. Read consumer publications3. Shop at sales4. Use shopping lists5. Resist pressure and gimmicks6. Read labels and warranties
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II. STUDY ADVERTISEMENTS
A. A wise consumer reads ads for helpful information.
B. Rational Advertising: ads that try to convince consumers with facts and information.
C. Emotional Advertising: appeals to people’s feelings.
What kind of ad would be more helpful?
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EMOTIONAL VS. RATIONAL
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III. READ CONSUMER PUBLICATIONS
A. Consumer magazines1. Magazines that guide people with reviews on big
purchasesB. Online forums and reviews
1. Do your research online before shopping
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IV. SHOP AT SALES
A. Types of Sales1. Promotional Sale: a special price on a new or
seasonal product.2. Clearance sale: a sale to clear out goods from a store
to make room for new goods.3. 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.
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V. USE SHOPPING LISTS
A. Make a list of what you need before shopping.B. Impulse buying: act of making unplanned
purchases.
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VI. RESIST PRESSURE AND GIMMICKS
A. Salespeople can use high-pressure tactics to get consumers to buy their goods and services.
B. Sales gimmicks like “super low prices” are often just to get you into the store.
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VII. READ LABELS AND WARRANTIES
A. Labels can help you know what you’re buying. The more information you have the better.
B. Warranty: written guarantee from the manufacturer that states under what condition a product can be returned, replaced ro repaired.
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VIII. TYPES OF WARRANTEES
A. Implied: unwritten guarantees that cover the product’s functionality (make sure it works).
B. Express: written warrantees that come in two types:
1. Full: Covers the entire product usually for a specific amount of time.
2. Limited: only cover certain parts of a product or for a certain time.
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PRACTICE WITH SALES
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