Consumer Choices
Chapter 22.1
Introduction to Business and Marketing
Objectives
 Identify four decisions that consumers make when they buy goods and services.
 Compare brand-name and generic products.
 Identify choices that consumers must make about when to buy.
 List several choices that consumers have when selecting a store to make purchases.
 Describe tools that consumers can use to compare prices for goods and services.
The Main Idea
 Consumers must make many ____________________________________________
 They must decide what, when, and where to buy goods and services, and how much
to pay for them
Buying Goods and Services
A consumer must decide:




What to buy
_______________ to buy
Where to buy
___________________________
Deciding What to Buy
When deciding what products they want to buy, consumers decide what is a
____________________________ for them.
Buyers often associate quality with ____________________________ products.
Despite a difference in cost, ___________________________ may be equal in quality to
some brand-name products.
Examples:
 Nike
®
®
 Kellogg’s
®
 Pepsi
Deciding When to Buy
Postponing or planning a purchase can sometimes __________________________________
 Buying AC units or bathing suits in the winter
 Buying coats or winter clothing in the summer
Stores often run ___________________________________ during and after the holidays,
just before the school year begins, and at the end of the season
When deciding when to buy, it often pays to wait until items _______________________
Deciding Where to Buy
There are _____________ factors that affect a consumer’s decision where to shop:
 The kinds of ________________________________________ sold
 _____________________
 Convenience
Department Stores
Because department stores offer brand names and ________________________, their prices
may be ____________ than other types of stores.
Examples:
 Sears
®
 JCPenny
®
 Macy’s
Discount Stores
Discount stores can sell for less because they offer __________________________ and keep
______________ quantities of goods.
Examples:
®
 Wal-Mart
®
 Kmart
Off-Price and Outlet Stores
Off-price and outlet stores can offer __________________________ because the items they
sell may have ___________, may be out of season, or may be ______________________
merchandise.
Examples:
 T.J. Maxx
®
®
 Stein Mart
®
 Loehmann’s
Limited-Line Retailers
Limited-line retailers, or ________________________, have a variety of items and high
levels of _____________________ and ________________________.
Examples:
®
 Foot Locker
®
 PetSmart
 Ace Hardware
®
Superstores
Superstores sell ____________________ and a wide variety of items such as books,
hardware, and clothing.
Examples:
®
 Target
®
 Wal-Mart
Convenience Stores
Convenience stores offer limited lines of products, mostly _______________________.
Example:
®
 7-Eleven
Warehouse Stores
Warehouse stores carry a huge selection of goods at low prices and in bulk quantities.
Examples:
®
 Costco
 Sam’s Club
®
Shopping at Home
Consumers can shop at home through TV channels, ____________, or the ______________.
Many retail stores mail catalogs to consumers.
Deciding How Much to Pay
____________________ shopping is important for major purchases because the difference
in cost can be ______________________________.
Deciding How Much to Pay
Some people think the most expensive item is always the ____________________________.
Sometimes the _______________ expensive item or the one in the middle might be the
________________________ for the money.