Buying Decisions - Ch. 7
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  • 1. Buying Decisions Make Good Choices
  • 2. Objectives• Purchasing Choices• Buying Plan
  • 3. Purchasing Choices• Impulse Buying – When you do not think about a purchase ahead of time• Buying Plan – Evaluate needs and wants – Gather information – The “Purchase” – Evaluate the purchase
  • 4. Step 1 Evaluate Needs and Wants• Think about items you really want or need• Set Criteria – standards or rules by which something can be judged – Ex: features, functions, and quality• Set a timeline• Set a spending limit – maximum amount you are willing to pay for an item
  • 5. Buying PlanNeed/Want Item Item Criteria Timeline Spending LimitShoes Tennis shoes Cushion By Nov. $70 Arch supportCell phone Type of Camera By Dec. $60 phone Keypad textingClothes for Dress/ Pretty/affordable March $200prom tuxedo
  • 6. Step 2 Gather Information• Comparison shopping – Know your options – Internet • Good place to do product research – Rebate • Refund part of the purchase price of an item – Payment
  • 7. Each purchase involves 2 choices Can you name them? What to buy How will you pay
  • 8. Step 3 Make the Purchase• Good condition• Check warranties• Keep receipts• Return policy
  • 9. Step 4 Evaluate the Purchase • Are you satisfied?• Do you feel good about the $ spent? • Does it meet the need or want?
  • 10. It’s Your MoneyYou are In Charge!!