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Effective Shopping Practices. PF Objective 6.01- Students will understand the basic shopping options and use effective shopping practices. ESSENTIAL QUESTIONS. Where can consumers go to shop for goods and services? What are the pros and cons of shopping options? - PowerPoint PPT Presentation

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  • Effective ShoppingPracticesPF Objective 6.01- Students will understand the basic shopping options and use effective shopping practices.

  • ESSENTIAL QUESTIONSWhere can consumers go to shop for goods and services?What are the pros and cons of shopping options?What practices help consumers make wise decisions when they shop?

  • PLAN BEFORE YOU SHOPCOMPARISON SHOPSHOP WISELYMAKE RATIONAL PURCHASESMAKE EMOTIONALPURCHASES

  • PLAN BEFORE YOU SHOPDecide whether to shop at home or in a storeWhen there is a choice, decide whether to purchase goods or servicesCheck reliability and services of stores and distance-sellersDecide when to buyvideo link: tips for grocery shopping

  • Plan Before You Shop Details1. Decide if shopping at home or shopping in stores is most appropriateTime, cost, available goods, returns

    2. Where there is a choice, decide whether it is advisable to purchase goods or servicesChoose the best for your situationGoods have prices; service prices may be harder to determineQuality of goods can be reviewed & rated before buyingQuality of services is reflected by performance after purchase 3.Check reliability and services of stores and distance-sellersRespectable businesses will back up their claimsex: if there are product or service problems, how easily will they be resolved?Services: what payment methods, return & refund policy, knowledgeable sales staff, special services like gift wrap, special orders, delivery, repair & maintenance4.Decide when to buyCash or credit now, save for purchase laterAvoid impulsive purchasing decisionsWhen possible, wait for a salePromotional sale, tax free weekends, clearance, pre-holiday, cash or credit

  • 6.01- Shopping OptionsShop in stores or at home?Lets review the pros and cons of shopping in a storeLets review the pros and cons of shopping at home a

    6.01- Shopping Options

  • 6.01- Shopping OptionsBuy goods or services?Sometimes you have an option of whether to purchase goods or servicesExample 1: Buy a ready-made prom gown, or pay someone to make you a gown?Example 2: Buy a new motorcycle or pay someone to fix up the used cycle you have?

    6.01- Shopping Options

  • 6.01- Shopping OptionsBuy goods or services?Goods have clearly identified prices, while prices of services may be harder to determine.Quality of goods can be reviewed and rated; quality of services is best reflected in performance.

    6.01- Shopping Options

  • 6.01- Shopping OptionsCheck reliability and servicesOnly respectable businesses back up their claimsServicesMethods of payment acceptedReturn/refund policiesKnowledgeable sales staffSpecial servicesGift wrapSpecial ordersDeliveryRepairs/maintenance

    6.01- Shopping Options

  • 6.01- Shopping OptionsDecide when to buy . . .Buy now with cash or creditSave for purchase at a later timeWhen possible, wait for a saleAvoid impulse buying

    6.01- Shopping Options

  • 6.01- Shopping OptionsCOMPARISON SHOPProductsResearch the productCompare productsUnderstand warrantiesTalk to people who have made the same purchaseCheck the Internet

    6.01- Shopping Options

  • 6.01- Shopping OptionsResearch the productDo your homework --- become familiar with the productCompare products --- brand name, store brands, and generics; size of packages, featuresTalk to people who have made the same purchaseCheck Internet for consumer information, magazines, other publicationsUnderstand warranties that guarantee quality standards of products

    6.01- Shopping Options

  • 6.01- Shopping OptionsCompare productsBrand names, store brands, and genericsSize of packageOther product features

    6.01- Shopping Options

  • 6.01- Shopping OptionsUnderstand warrantiesImplied warranty product is in proper condition and does what it is intended to doExample: Hair dryer blows and dries hair

    6.01- Shopping Options

  • 6.01- Shopping Options

    Understand warrantiesWritten warranty goes beyond implied warranty by providing a written guaranteeFull warranty according to law, must provide all 5 standards stated by Magnuson-Moss ActLimited warranty provides 1-4, but not all, of standards in Magnuson-Moss ActStandards of Magnuson-Moss ActWarranty extends to any owner of product, not just original ownerNo cost for warrantyNothing to do to receive warrantyGuarantees refund or replacementDoes not limit time period of implied warranty

    6.01- Shopping Options

  • Understand WarrantiesImplied warranty-Product is in proper condition and it will perform intended purposeEx: sailboat sweater

    Express warranty- uses words to guaranteeWritten Verbal

    Full warrantyMust provide all standards Magnuson-Moss law requiresLimited warrantyMay be limited timelimited partslimited labor

  • 6.01- Shopping OptionsCOMPARISON SHOPServicesIdentify a person(s) or business(es) that provide the desired serviceCheck qualificationsInterview; ask for demos/samplesCheck referencesCheck licensing, bonding, insurancePay close attention to agreements

    6.01- Shopping Options

  • Comparison Shop for ServicesIdentify providers- who are the person(s) or business(es) that provide the desired service?Check qualifications --- What are their skills, reliability, and professional ethics?Interview the service-provider; ask for demonstrations/work samplesCheck the providers references and his/her record with the Better Business BureauCheck to see if provider is licensed, bonded, or insuredPay close attention to terms of agreements, and read carefully before signing (* see next slide)

  • Pay close attention toterms of agreementsEstimate --- a total expected cost, in writing, for performing a serviceWork order --- gives authority to the provider to perform servicesContract --- a legally binding agreement between a service provider and a consumerService warranty --- a guarantee of quality standards for performancevideo link: charlie brown's contract

  • Question?The bricklayer gave Mr. Smith an itemized list of costs for the proposed job of building a wall around his property. This is an example of which type of service work agreement?A. ContractB. EstimateC. Service warrantyD. Work order

    6.01- Shopping Options

    6.01- Shopping Options

  • SHOP WISELYIn Stores

    Consider the value of time and energy, as well as moneyHandle money, cash, and credit cards with careGet receipts and sales slips; file carefullyDeal fairly and honestly with others in the marketplaceReport unfair/dishonest practices to the proper authoritiesvideo link: shopping in Kissimmee

  • Retail stores obtain goods from wholesale sources and sell directly to consumersDepartment stores sell a wide variety of goods and services mens, ladies, shoes, house wares, childrens sectionsAttractive displaysCashiers in sections to assist customersWarehouse clubs and superstores offer price advantages and wide product selectionBuy in bulk, lower per unit priceLimited options availableFactory outlet stores are owned by the manufacturer or distributor of the merchandise

    OPTIONS FOR SHOPPING IN STORES

  • Discount stores sell certain lines of merchandise at lower prices

    Consignment or thrift stores sell used merchandise at greatly reduced prices.Consignment: seller provides product, if it does not sell, may be returnedThrift store: merchandise is donated for a good cause; ex: Salvation Army, Value Village Specialty stores sell specialized goods/services --- e.g., shoe shops and gas stations.

    OPTIONS FOR SHOPPING IN STORES

  • Question?Hank wants to shop for holiday gifts for his family members in just one store. What type of store would MOST LIKELY be the best place to shop?A. Consignment storeB. Department storeC. Specialty storeD. Thrift shop

    6.01- Shopping Options

    6.01- Shopping Options

  • Pros and Cons of Shopping in Stores

    PROSVariety of merchandise in one area or under one roofClose to home for last-minute or emergency shoppingOffers special prices with a membership cardMalls offer special attractions and promotions for customersCan try on clothesItems are easy to exchangeOffer payment plansOffer store credit cardsCan work with knowledgeable sales peopleStores offer special services---e.g., gift wrapping

  • Pros and cons of shopping in stores

    CONSMust find a place to parkPicked-over merchandiseLarge crowds on sale days and weekendsLimited space

  • SHOP WISELYAt Home

    Know name, location of sellerUnderstand what you are buyingCompare prices with other retailersOnly buy from secure sitesCheck sellers privacy policyPay by credit cardFind out delivery date, return and refund policyShipping policy and costCheck product promptly when deliveredvideo link: shopping for clothes online

  • Door-to-door---salesperson comes to home, either by invitation or notCatalog shopping --- shopper calls on telephone to buy goods listed in a catalogTelemarketing seller calls on telephone to sell goods or servicesT-commerce shopping in response to ads on televisionE-commerce buying goods and services on the Internet, including Internet auctions

    OPTIONS FOR SHOPPING AT HOME

  • Question?Buying a baby bed as the highest bidder on an online shopping site is an example of which type of home shopping?A. Door-to-doorB. Internet auctionC. T-commerceD. Telemarketing

    6.01- Shopping Options

    6.01- Shopping Options

  • Pros and Cons of Shopping at HomePROSBuy any time seven days a weekCan obtain special ordersWill deliverCan purchase on the spot with TV remote control or computer mouseBuy from the comfort and convenience of homeCan buy from a worldwide market

  • Pros and C