CONSUMER DECISIONS
Published on Nov 19, 2015
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PRESENTATION OUTLINE
CONSUMER DECISIONS
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DECIDING WHERE TO SHOP
WHERE TO SHOP: RETAIL STORE, CATALOGS, ELECTRONIC SHOPPPING
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5 TYPES OF RETAIL SHOPS
1. DEPARTMENT STORE - LARGE RETAIL FIRM THAT OFFERS A VARIETY OF CONSUMER GOODS
2. DISCOUNT STORE - SELL A WIDE ASSORTMENT OF GOODS BUT AT A CHEAPER PRICE
Photo by See-ming Lee 李思明 SML
3. SPECIALTY STORE - THESE SPECIALIZE IN SELLING ONE LINE OF GOODS SUCH AS BOOKS OR SHOES
4. OFF-PRICE RETAIL STORES - BUY BRAND NAMES AT A LOW PRICE AND PASS THE SAVINGS TO THE CONSUMER
5. FACTORY OUTLET - ONE TYPE OF OFF-PRICE RETAIL STORE - OWNED BY THE MANUFACTURER AND SELL DIRECTLY TO THE CONSUMER
Photo by Alfred Hermida
IN-HOME ELECTRONIC SHOPPING
2 TYPES OF ELECTRONIC SHOPPING: TELEVISION & INTERNET
Photo by emilio labrador
ADVANTAGES OF IN-HOME SHOPPING:
1. SAVES TIME
2. COMPARABLE PRICES
3. CAN HAVE ITEM SHIPPED MORE QUICKLY
4. ORDERED ITEMS DELIVERED TO ADDRESS OF YOUR CHOICE
5. RETURNING POLICIES ARE GENEROUS
Photo by antwerpenR
DISADVANTAGES OF IN-HOME SHOPPING:
1. NO PERSONAL ASSISTANCE
2. LIMITED MERCHANDISE FROM SOME MANUFACTURERS
3. NO TESTING OF PRODUCT BEFORE PURCHASE
4. HAVE TO WAIT FOR SHIPPING
5. NOT CONTRIBUTING TO YOUR LOCAL ECONOMY
6. LEGITIMATE VENDOR COULD BE IN QUESTION
Photo by Hindrik S
CATALOG SHOPPING
ADVANTAGES: TIME-SAVING AND CONVENIENCE
DISADVANTAGES: CAN'T SEE ITEM BEFORE PURCHASE AND HAVE TO WAIT FOR IT TO BE SHIPPED
Photo by Daniel Y. Go
OTHER SHOPPING OPTIONS
THRIFT STORES, CONSIGNMENT SHOPS, GARAGE SALES AND FLEA MARKETS
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DECIDING WHEN TO BUY
1. SHOPPING AT SALES SAVES MONEY
2. COUPONS & REBATES
3. TIME AVAILABLE
4. SHOPPER'S MOOD
DECIDING WHAT TO BUY
1. QUALITY OF THE PRODUCT
2. PRICE OF PRODUCT
3. USE OF PRODUCT
4. PRODUCT WARRANTIES
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COMPARISON SHOPPING
THIS MEANS LOOKING AT MORE THAN ONE OPTION BEFORE BUYING
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THE IMPACT 0F TECHNOLOGY ON CONSUMERS
TECHNOLOGY IS SIMPLY THE PRACTICAL APPLICATION OF KNOWLEDGE
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FUNCTIONS OF HIGH-TECH EQUIPMENT
1. PROCESS INFORMATION - ANY KIND OF INFORMATION: WORDS, NUMBERS, IMAGES, AND SOUND
2. MONEY MANAGEMENT - CREATING A BUDGET, KEEPING TRACK OF SPENDING AND SAVING, BANK INFORMATION
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3. INFORMATION GATHERING AND LEARNING - ABLE TO ACCESS THE INTERNET, FIND FACTUAL INFORMATION, JOIN DISCUSSION GROUPS, REVIEW SITES, CHECK PRODUCT REVIEWS, ETC.
4. ENTERTAINMENT - COMPUTER GAMES, YOUTUBE, ETC.
5. COMMUNICATION - EMAIL, SKYPE, VIDEO CALLING
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MANAGING TECHNOLOGY
MAKE GOOD BUYING DECISIONS ON THE ITEMS THAT YOU WANT TO INFLUENCE YOUR LIFE
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DRAWBACKS OF TECHNOLOGY
1. PERSONAL PRIVACY MAY BE THREATENED
2. HEALTH AND DEVELOPMENT CAN BE ADVERSELY AFFECTED - TO MUCH TIME ALONE CAN LEAD TO LONELINESS AND ISOLATION
Photo by LingHK
3. NATURAL ENVIRONMENT COULD BE ENDANGERED - LANDFILLS FULL OF DISCARDED AND OUTDATED EQUIPMENT
4. SPENDING CAN OCCUR TOO EASILY - INSTANT CASH, INSTANT BUYING WITH NO PLANNING
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5. TOO MUCH PRESSURE CAN BE EXERTED ON OTHER FAMILY RESOURCES - TRYING TO KEEP UP WITH THE LATEST TECHNOLOGY
6. FAMILY LIFE MAY BE THREATENED - DOES NOT ENCOURAGE FAMILY INTERACTION
Photo by Josh Kenzer
