15-1 Consumer Buying Decisions

Buying

Key Vocabulary

  • Unit Price- A price per unit of measure.
  • Brand- A name given to a product or service to distinguish it from other similar and competitive items.
  • Impulse Buying- Buying to quickly.

Key terms

Product testing organizations test products and services for the benefit of consumers and business.

Media Sources is access to a range of media sources offering consumer information. Like newspapers and magazines.

Government Agencies is federal, state, and local governments also inform consumers. The federal government has the consumer information center.

Business Sources as a public service and in a effort to sell goods and services, businesses make consumer information available.

Personal Contacts Are often used information source that are received from other people. Based on products that person has bought.

Use Decision -Making Steps 1. Identify your needs or wants, 2. Know the choices available, 3. Determine your desired satisfaction, 4. Evaluate alternatives, 5. Make the decision.

Comparison shopping is comparing price, quality, services and brands. To get the best deal.

Wise Buying: A Summary is by taking your time and planning what they are buying.

Traditional Retailers Many of the stores in which you shop have developed over the past 100 years. Department stores.

Contemporary Retailers Offering low prices and a wide variety of a limited product line. These include retailers such as office max, home depot and best buy

Non- Store Shopping Shopping at home started with door to door sales. Then mail leading to stores.