How the Media Influences Consumers

Dollars and Sense

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Copyright

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HOW DOES THE MEDIA INFLUENCE YOU AS A CONSUMER?

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• Broadcast• Cell phone and mobile• Online• Outdoor • Print• Product Placement• Public Service

Modern Methods of Advertising

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• Ads based on your interests• Advergaming• Banner ads and other web page

ads• E-mail Ads• Viral Marketing

Online Advertising

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Social Media and the Consumer

Social Media Influences Consumers

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How the Social Media Influences Purchase Decisions

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What Are Some Advertising Techniques?

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• Association• Call to action• Claim• Games and activities• Humor• Hype• Must-have

Advertising Techniques

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• Fear• Prizes• Repetition• Sales and price• Sense appeal• Special ingredients• Testimonials and endorsements

Advertising Techniques

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You need to ask yourself these questions when evaluating advertising techniques:

1. Who is responsible for the ad?

2. What audience is the ad targeting? What makes you think so?

3. What techniques does the ad use?

4. What does the ad say or suggest about the product or service?

5. What does the ad say about the people who buy the product or service?

Evaluating Advertising Techniques

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Evaluating an Ad

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HOW CAN YOU BE A RESPONSIBLE CONSUMER?

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• Extensive decision-making• Impulse shopping• Limited decision-making• Routine purchases

Types of Consumer Buying Decisions

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• Acquired information • Checked information • Used the information to compare

products before purchasing• Considered personal wants and

needs• Considered financial resources

available for this purchase

Being a Responsible Consumer

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• Avoided impulse shopping• Avoided purchasing products that

are harmful to the environment• Considered the impact of the

purchase on others • Refrained from unethical

consumer practices • Shopped with reliable businesses

Being a Responsible Consumer

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• Communicated dissatisfaction with the products

• Read and followed the use and care instructions

• Used the products in a way that was safe to themselves as well as others

Being a Responsible Consumer

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Plan purchases• Considered needs and wants• Determined when is the best time

to buy• Resisted impulse purchases• Worked individually or with others

to resolve issues common to many consumers

Being a Responsible Consumer

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Effective Consumer Buying

Be informed

• Make the most of information available to you

• Recognize selling strategies and use them to your advantage

• Understand the marketplace; know about the sources of goods and services

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Effective Consumer Buying

Make wise shopping decisions – choose wisely• Compare products and services• Deal with reputable and reliable

sources• Resist pressure

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Sources of Information for Wise Shoppers

• Advertising• Consumer-oriented publications • Guarantees and warranties• Labels and hangtags• Salesperson

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Sources of Information for Wise Shoppers

• Government bulletins• Internet• Media sources• Professional associations

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Consumer Action Handbook

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Sample Complaint Letter

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Obtained from the 2014 Consumer Action Handbook

Tips for Filing a Complaint

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• Remain calm• State exactly what you

want done about the problem

• Document each step• Start with the seller

first

Questions?

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Images:• Microsoft Clip Art: Used with permission from Microsoft.

Textbooks:• Campbell, S. R. (2010). Foundations of personal finance. Tinley Park, IL: Goodheart-

Willcox.• Ross Lowe, 2006. Consumer education & economics, Student Edition. 6 Edition.

Glencoe/McGraw-Hill.

Websites:• All Twitter

How the Social Media Influences Purchase Decisions.http://www.mediabistro.com/alltwitter/social-media-purchase-decisions_b54296

• USA.govConsumer Guides and Protection http://www.usa.gov/Citizen/Topics/Consumer-Safety.shtml

YouTube™:• How Does Social Media Influence Buying Decision-making?

Element212 is out on the street interviewing everyday consumers on how social media influences their buying decision-making.http://youtu.be/pK5KpYv50wg

References and Resources

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