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Consumer Skills. Chapter 33. Planning Purchases. Smaller purchases need no planning More expensive purchases require a plan. Consumer Resources. 1. talking with friends or family 2. research consumer magazines Most reliable---- Consumer Reports Consumer Research Consumer Index.
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Consumer Skills Chapter 33
Planning Purchases • Smaller purchases need no planning • More expensive purchases require a plan
Consumer Resources • 1. talking with friends or family • 2. research consumer magazines • Most reliable---- • Consumer Reports • Consumer Research • Consumer Index
Impulse Buying • Purchasing something that you did not intend to buy • Avoid impulse purchases • Buy one and get one free • Stores set out samples
Getting Value at Sales • Just because it is on sale doesn’t mean it’s a bargain • 1. do you need it • 2. compare sale prices • 3. find out whether you can return it • 4. if model is discontinued what about replacement parts
Where to Buy • Specialty stores • Sells only a certain kind of merchandise • Carries wide selection, higher prices • Department stores • Wide selection of goods • different price ranges • Issue their own credit cards • Have their own customer services
Discount store • Carries nationally advertised brands • Reduced prices • Sell lines of clothing and shoes • Lesser quality • Factory outlets • Manufacturers sell directly to shoppers • Low prices • Seconds – items that are slightly imperfect or out of production
Outlet Shopping • Unfortunate side effect • Stores with no connection to a manufacturer lease space in outlet malls • Shoppers must check, not assume, that a store truly offers merchandise from factories at discounted prices
Seconds & Irregulars • May only have cosmetic defects • Product’s appearance may suffer but not its performance
Warehouse clubs • Charge lower prices • Buy in bulk and furnish store sparsely • Customers pay a membership fee • Variety of goods from bulk groceries to home furnishings to clothes
Mail-Order Companies • Varied as stores • Rely on mail-order sales for income • Customers pay shipping and handling fees and sometimes a sales tax • May have to pay to return an item
Mail Order Shopping • Will ship an item to another address and not just to yourself • Ordering can put you on their mailing list • To have your name removed: • Mail Preference Service • Direct Marketing Association • 11W. 52nd ST • Box 3861 • New York, NY 10163
Electronic Shopping • Cable television • Home shopping networks • Order products by calling a toll-free number • Pay by credit card or check • Can return items you don’t want
Infomercials • Air in early morning or late at night • Cheaper air time • Hosted by celebrities • Beware of their claims
Direct Sales • Door-to-door salesperson • Cosmetics, vacuums, encyclopedias • Decreased at this point • May set up appointments
Other Shopping Alternatives • Yard and garage sales • Flea and swap meets • Classified ad in newspaper
Real Life Application • Browsing at a flea market, Edgar noticed a framed, autographed baseball card of his favorite player. It was priced at $20. Edgar believed it was worth at least five times that. The seller said the man who sold her the card claimed it was authentic.
1. Do you think the card is genuine? • 2. What factors besides monetary value are involved in his interest in the card? • 3. What role does emotion play in buying items?
Comparison Shopping • 1. Compare products • Quality • Performance • Ask for demonstration (camera, television) • clothing,/shoes try them on
Convenience, Maintenance, Durability • Reading care labels and service manuals • Indicate location of repair centers • Read instructions
Safety • Underwriter’s Laboratory (UL) • Agency that tests electrical products for safety • Check label to see if clothing and furniture are flame retardant or flame resistant
Comparison Shopping • 2. Price • Lowest-priced item not always the best buy • Hiddencosts – expenses of time, energy and money not included in the purchase price
3. Hidden Costs • Travel • Time and cost of traveling to make purchase • Low cost item not low cost if it is far to get there (Bismarck vs Beulah) • Maintenance • Cost of care • Can you afford replacement parts • Washable vs dry cleaning
Extras • Consider price of batteries and accessories • Exchanges • If you can exchange a defective item or replace at your extra expense
4. Warranties • Is the manufacturer’s or retailer’s promise to repair or replace a defective product, or to refund the customer’s money
Warranties….. • Name and address of company or person to contact • Precise account of what is covered • Length of warranty • Specific procedures to follow to ship it back • Any requirements the purchaser must meet • Length of time the manufacturer has in which to fix the problem
By telephone • Most accessible consumer resource • Saves time, energy, and gasoline • Compare over the phone for best price • Talk to a helpful sales associate and take their name in when visiting the store
Did You Know? • Merchandise being returned that is lost en route, the consumer must either pay for the lost item or provide proof that it was mailed such as a post office, Federal Express or a UPS receipt
Good Housekeeping Seal of Approval • Sign of product quality • Checks claims of various products • Showed product passed test claimed on label
Activity • Choose an item to purchase • Make a list of features you want • Select 3 to 4 brands and check them out
