shopping wisely

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Shopping Wisely. Coach Markus. Objectives. Compare purchasing choices on items that you use Gather appropriate information to make wise buying decisions Choose the best buy using comparison-shopping techniques. Comparison Shopping. - PowerPoint PPT Presentation

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Shopping Wisely

Shopping WiselyCoach Markus

ObjectivesCompare purchasing choices on items that you useGather appropriate information to make wise buying decisionsChoose the best buy using comparison-shopping techniques

Comparison ShoppingComparison shopping is the practice of comparing products and their prices to find the best buy for our needs.

Comparison Shopping.Takes planning and practice.AndTime and effort.

Brand NameA brand name is the name of a product or its trademark.Example: Charmin Toilet paperIt is:RecognizableOften more expensive

Generic BrandA generic brand is a product that has no brand name packaging. Example: AAFES brandsIt is:Often cheaperUsually made at the same factories as the brand name items

Discount StoreA discount store is part of a chain of large stores that offers merchandise at very competitive prices. Example: Wal-Mart

Thrift StoreA thrift store is a store that sells second-hand or used merchandise at prices much cheaper than if the merchandise was purchased new.Example: Goodwill/Salvation Army

Deciding on the itemFactors:QualityQuantityTimingBrand NameRecommendationsWarrantyResearch

QualityWhat level of quality do I want?Low- cheaper, doesnt last as longMedium- more expensive, but lasts awhileHigh- most expensive, but longer life of item

QuantityHow much can I afford?Do I have storage space?How quickly will I use the items?

TimingDo I need this NOW?Should I wait for a SALE?

Brand Name or Generic?What is more important to me?

RecommendationWhat are people saying about this item? Do people recommend buying it, or is it just advertising?

WarrantyDoes the item have a warranty?Are the warranty terms vague?Do I have to pay extra for a warranty?ResearchHow much have I researched this item?Have I read the reviews?

Comparing Similar ItemsBeing a consumer involves decision making.Factors to consider:StoreBrand namePriceBasic featuresSpecial featuresRefund/Exchange policiesOther (Durability, Comfort, Style, etc.)

Comparison Shopping Activity 1Item NameElectronics 1Electronics 2Electronics 3Store NameItem NameBrand NamePriceBasic FeaturesSpecial featuresWarrantyRefund/Exchange PoliciesOtherComparison Shopping Activity 2Item NameClothing 1Clothing 2Clothing 3Store NameItem NameBrand NamePriceWhere it will be wornStyleDurabilityComfortRefund/Exchange PoliciesOtherActivity DirectionsWork with a partner and one computerChoose an electronic or clothing item that you will purchase using comparison shopping.Determine your budget limit and write it on the top of the page first.Use internet shopping sites to locate and research your items to fill in the form.We will present findings at the end of class.