You, The Consumer How do I contribute to the economy?
-
Upload
elvin-goodwin -
Category
Documents
-
view
218 -
download
2
Transcript of You, The Consumer How do I contribute to the economy?
![Page 1: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/1.jpg)
You, The Consumer
How do I contribute to the
economy?
![Page 2: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/2.jpg)
• Consumer– any person or group that buys or uses goods and services to
satisfy personal needs and wants.
04/21/23 Template copyright 2005 www.brainybetty.com 2
Important Terms You Need to Know
![Page 3: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/3.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 3
• Marketing– All the activities needed to move goods and
services from the producer to the consumer.
• Utility– The ability of any good or service to satisfy
consumer wants.
Important Terms You Need to Know
![Page 4: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/4.jpg)
• the types of utility– Form utility
• The conversion of raw materials into goods and services
– Place utility• Having a good or service available where
consumers want them
Important Terms You Need to Know
![Page 5: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/5.jpg)
• the types of utility– Time utility
• Having a good or service available when consumers want them.
– Ownership utility• The satisfaction that comes from owning a good
or service.
Important Terms You Need to Know
![Page 6: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/6.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 6
Important Terms You Need to Know
• Disposable income
– money remaining after taxes have been paid.
• Discretionary income
– money remaining after bills have been paid.
![Page 7: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/7.jpg)
Important Terms You Need to Know
• Rational self-interest– Individuals try to maximize the expected
benefit achieved with a given cost or to minimize the expected cost of achieving a given benefit.
04/21/23 Template copyright 2005 www.brainybetty.com 7
![Page 8: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/8.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 8
Consumer Spending
• 32% Housing and household operation• 14% Food• 5% Clothing• 19% Transportation• 5% Healthcare• 5% Entertainment• 9% Life Insurance, Social Security, and
Retirement plans• 11% Other
![Page 9: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/9.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 9
Basic Buying Principles
• Gathering Information
• Using advertising wisely
• Comparison shopping
![Page 10: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/10.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 10
Consumer Rights
• The right to safety• The right to be informed• The right to choose• The right to be heard• The right to redress
![Page 11: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/11.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 11
Types of advertising
• Competitive advertising– Advertising that attempts to persuade
consumers that a product is different from and superior to any other.
![Page 12: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/12.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 12
![Page 13: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/13.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 13
Types of advertising
• Informative advertising– Advertising that gives information about a
product.
![Page 14: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/14.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 14
Billy Mays
Vince
![Page 15: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/15.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 15
Types of advertising
• Bait and Switch (deceptive advertising)– An ad that attracts consumers with a low-
priced product, then tries to sell them a higher-priced product.
![Page 16: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/16.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 16
A few more terms
• Comparison shopping– getting information on the types and prices
of products available from different stores and companies.
• Warranty– promise made by a manufacturer or a seller
to repair or replace a product within a certain time period if it is found to be faulty.
![Page 17: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/17.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 17
• Food and Drug Administration (FDA)
– Government agency that protects the public against impure and unsafe foods, drugs, and cosmetics.
![Page 18: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/18.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 18
• Brand name– word, picture, or logo on a product that
helps consumers distinguish it from similar products.
• Generic brand– general name for a product.
A few more terms
![Page 19: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/19.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 19
Rules for the Supermarket
• Work the edges– The healthiest foods are found along the walls. Dairy,
meats, produce, and seafood are found there.
• Look high and low– Supermarkets charge “slotting fees” for the prime
real estate on the shelves. That is why the Kellogg’s, Krafts, and Proctor & Gambles have products at eye level. The healthy foods are usually located on the top or bottom shelf.
![Page 20: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/20.jpg)
• Long lines means you buy more– You are 25% more likely to buy the sodas and
candy around you if you have to wait in a long check out line.
04/21/23 Template copyright 2005 www.brainybetty.com 20
Rules for the Supermarket
![Page 21: You, The Consumer How do I contribute to the economy?](https://reader035.fdocuments.in/reader035/viewer/2022081515/5697bff31a28abf838cbc7da/html5/thumbnails/21.jpg)
04/21/23 Template copyright 2005 www.brainybetty.com 21
FDA Regulations
• Canned pineapples can contain up to 20% moldy fruit.• Canned tomatoes can contain up to 5 fly eggs or 2 maggots per
500 grams.• Frozen broccoli can contain up to 60 mites per 100 grams.• Ground cinnamon can contain up to 400 insect fragments and
11 rodent hairs per 50 grams.• Peanut butter can contain up to 30 insect fragments or 1 rodent
hair per 100 grams.• Popcorn can contain up to 1 rodent pellet in one sample or 2
rodent hairs per pound.• Potato chips can contain up to 6% rotten potatoes.