Itb Chap 15

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Itb Chap 15

  1. 1. Consumers in the Global Economy 15-1 Consumer Buying Decisions 15-2 Consumer Rights and Responsibilities 15-3 Consumer Protection Actions 15
  2. 2. LESSON 15-1 Consumer Buying Decisions <ul><li>Goals </li></ul><ul><li>Identify major sources of consumer information. </li></ul><ul><li>Explain wise buying actions. </li></ul><ul><li>Describe the main types of shopping locations. </li></ul>Chapter 15 Slide
  3. 3. Key Terms <ul><li>unit price </li></ul><ul><li>brand </li></ul><ul><li>impulse buying </li></ul>Chapter 15 Slide
  4. 4. CONSUMER INFORMATION SOURCES <ul><li>Product testing organizations </li></ul><ul><ul><li>Organizations paid by manufactures </li></ul></ul><ul><ul><li>Independent testing organizations </li></ul></ul><ul><li>Media sources </li></ul><ul><ul><li>Print publishers </li></ul></ul><ul><ul><li>Broadcast organizations </li></ul></ul><ul><ul><li>The Internet </li></ul></ul>Chapter 15 Slide
  5. 5. CONSUMER INFORMATION SOURCES <ul><li>Government agencies </li></ul><ul><ul><li>Federal </li></ul></ul><ul><ul><li>State </li></ul></ul><ul><ul><li>Local </li></ul></ul>Chapter 15 Slide (continued)
  6. 6. CONSUMER INFORMATION SOURCES <ul><li>Business sources </li></ul><ul><ul><li>Advertising </li></ul></ul><ul><ul><li>Product labels </li></ul></ul><ul><ul><li>Customer service departments </li></ul></ul><ul><ul><li>Better Business Bureau </li></ul></ul><ul><li>Personal contacts </li></ul>Chapter 15 Slide (continued)
  7. 7. >> C H E C K P O I N T <ul><li>What are the main sources of consumer information? </li></ul>Chapter 15 Slide
  8. 8. WISE BUYING STRATEGIES <ul><li>Use decision-making </li></ul><ul><li>Comparison shopping </li></ul>Chapter 15 Slide
  9. 9. USE DECISION-MAKING <ul><li>1. Identify your needs or wants. </li></ul><ul><li>2. Know the choices available. </li></ul><ul><li>3. Determine your desired satisfaction. </li></ul><ul><li>4. Evaluate alternatives. </li></ul><ul><li>5. Make the decision. </li></ul>Chapter 15 Slide
  10. 10. COMPARISON SHOPPING <ul><li>Compare prices </li></ul><ul><li>Compare quality </li></ul><ul><li>Compare services </li></ul><ul><li>Compare sales </li></ul><ul><li>Compare brands </li></ul>Chapter 15 Slide
  11. 11. WISE BUYING: A SUMMARY <ul><li>Take your time </li></ul><ul><li>Time your purchases </li></ul><ul><li>Avoid being impulsive </li></ul>Chapter 15 Slide
  12. 12. >> C H E C K P O I N T <ul><li>What decision-making steps should be taken when making a purchase? </li></ul>Chapter 15 Slide
  13. 13. SHOPPING LOCATIONS <ul><li>Traditional retailers </li></ul><ul><li>Contemporary retailers </li></ul><ul><li>Non-store shopping </li></ul>Chapter 15 Slide
  14. 14. >> C H E C K P O I N T <ul><li>What are the main categories of shopping locations? </li></ul>Chapter 15 Slide
  15. 15. LESSON 15-2 Consumer Rights and Responsibilities <ul><li>Goals </li></ul><ul><li>Explain the consumer movement. </li></ul><ul><li>Explain seven consumer rights. </li></ul><ul><li>Describe consumer responsibilities. </li></ul>Chapter 15 Slide
  16. 16. Key Terms <ul><li>consumer movement </li></ul><ul><li>fraud </li></ul><ul><li>guarantee </li></ul><ul><li>express warranty </li></ul><ul><li>implied warranty </li></ul>Chapter 15 Slide
  17. 17. THE CONSUMER MOVEMENT <ul><li>Consumer Bill of Rights </li></ul><ul><ul><li>1. The right to be informed. </li></ul></ul><ul><ul><li>2. The right to safety. </li></ul></ul><ul><ul><li>3. The right to choose. </li></ul></ul><ul><ul><li>4. The right to be heard. </li></ul></ul><ul><ul><li>5. The right to a remedy. </li></ul></ul><ul><ul><li>6. The right to consumer education. </li></ul></ul><ul><ul><li>7. The right to service. </li></ul></ul>Chapter 15 Slide
  18. 18. >> C H E C K P O I N T <ul><li>What are the seven rights of consumers? </li></ul>Chapter 15 Slide
  19. 19. THE RIGHT TO BE INFORMED <ul><li>You have a right to know what the product or service is and what it will do for you. </li></ul>Chapter 15 Slide
  20. 20. THE RIGHT TO SAFETY <ul><li>Consumers have a right to be safe from harm associated with using products or services. </li></ul><ul><li>Food and Drug Administration (FDA) </li></ul><ul><li>United States Department of Agriculture (USDA) </li></ul>Chapter 15 Slide
  21. 21. THE RIGHT TO CHOOSE <ul><li>Consumers have the right to choose from a variety of goods and services. </li></ul><ul><li>Federal Trade Commission (FTC) </li></ul><ul><li>Monopoly </li></ul>Chapter 15 Slide
  22. 22. THE RIGHT TO BE HEARD <ul><li>Federal Trade Commission (FTC) </li></ul><ul><li>Office of the Attorney General </li></ul><ul><li>Department of Consumer Affairs </li></ul><ul><li>Better Business Bureau </li></ul>Chapter 15 Slide
  23. 23. THE RIGHT TO A REMEDY <ul><li>Consumers have the right to seek a legal remedy when a problem occurs. </li></ul><ul><li>Guarantee </li></ul><ul><li>Express warranty </li></ul><ul><li>Implied warranty </li></ul>Chapter 15 Slide
  24. 24. THE RIGHT TO CONSUMER EDUCATION <ul><li>Educated consumers are aware that their decisions have economic and social implications. </li></ul>Chapter 15 Slide
  25. 25. THE RIGHT TO SERVICE <ul><li>Convenience </li></ul><ul><li>Courtesy </li></ul><ul><li>Responsiveness </li></ul>Chapter 15 Slide
  26. 26. >> C H E C K P O I N T <ul><li>How does an express warranty differ from an implied warranty? </li></ul>Chapter 15 Slide
  27. 27. YOUR CONSUMER RESPONSIBILITIES <ul><li>Be honest </li></ul><ul><li>Be reasonable </li></ul><ul><li>Be active </li></ul><ul><li>Be informed </li></ul><ul><li>Be involved </li></ul>Chapter 15 Slide
  28. 28. >> C H E C K P O I N T <ul><li>What actions can be taken to be an involved consumer? </li></ul>Chapter 15 Slide
  29. 29. LESSON 15-3 Consumer Protection Actions <ul><li>Goals </li></ul><ul><li>List common consumer concerns. </li></ul><ul><li>Describe the steps of the consumer complaint process. </li></ul><ul><li>Explain legal actions available to assist consumers. </li></ul>Chapter 15 Slide
  30. 30. Key Terms <ul><li>mediation </li></ul><ul><li>arbitration </li></ul><ul><li>class action suit </li></ul><ul><li>small claims court </li></ul>Chapter 15 Slide
  31. 31. COMMON CONSUMER PROBLEMS <ul><li>Sources of complaints </li></ul><ul><li>Motor vehicle purchases, repairs </li></ul><ul><li>Deceptive investments </li></ul><ul><li>Identity theft and credit card fraud </li></ul><ul><li>Guaranteed and advance-fee loans </li></ul><ul><li>Credit repair scams </li></ul><ul><li>Telemarketing, catalog, and magazine sales </li></ul>Chapter 15 Slide
  32. 32. COMMON CONSUMER PROBLEMS <ul><li>Sources of complaints (continued) </li></ul><ul><li>Internet auctions, online purchases </li></ul><ul><li>Prizes, sweepstakes, and phony lottery promotions </li></ul><ul><li>Work-at-home and start-your-own business opportunities </li></ul><ul><li>Travel and vacation promotions </li></ul><ul><li>Health and diet gimmicks </li></ul>Chapter 15 Slide
  33. 33. DECEPTIVE BUSINESS ACTIVITIES <ul><li>Scams, cons, and swindles </li></ul><ul><li>Too good to be true </li></ul><ul><li>Financial losses </li></ul><ul><li>The Internet and online scams </li></ul>Chapter 15 Slide
  34. 34. PROTECTION FOR SHOPPERS <ul><li>Federal Laws </li></ul><ul><li>Right to cancel your order </li></ul><ul><li>Credit card bill disputes </li></ul>Chapter 15 Slide
  35. 35. >> C H E C K P O I N T <ul><li>What are sources of common consumer complaints? </li></ul>Chapter 15 Slide
  36. 36. THE COMPLAINT PROCESS <ul><li>Step 1 Contact the place of purchase </li></ul><ul><li>Step 2 Contact the company headquarters </li></ul><ul><li>Step 3 Involve a consumer agency </li></ul><ul><li>Step 4 Take legal action </li></ul>Chapter 15 Slide
  37. 37. CONTACT THE PLACE OF PURCHASE <ul><li>Return to place of purchase </li></ul><ul><li>Remain calm </li></ul><ul><li>Provide evidence </li></ul>Chapter 15 Slide
  38. 38. CONTACT THE COMPANY HEADQUARTERS <ul><li>Customer service department </li></ul><ul><li>Contact information </li></ul><ul><li>Tell what happened </li></ul><ul><li>Include copies of documentation </li></ul><ul><li>Ask for specific action </li></ul>Chapter 15 Slide
  39. 39. INVOLVE A CONSUMER AGENCY <ul><li>When you do not get satisfaction from business </li></ul><ul><li>Consumer agencies </li></ul><ul><li>Public interest organization </li></ul><ul><li>Government agencies </li></ul>Chapter 15 Slide
  40. 40. TAKE LEGAL ACTION <ul><li>When the first three steps do not work </li></ul>Chapter 15 Slide
  41. 41. >> C H E C K P O I N T <ul><li>List the steps of the consumer complaint process. </li></ul>Chapter 15 Slide
  42. 42. LEGAL ACTIONS FOR CONSUMERS <ul><li>Third-party settlements </li></ul><ul><ul><li>Mediation </li></ul></ul><ul><ul><li>Arbitration </li></ul></ul><ul><li>Class action suits </li></ul><ul><li>Small claims court </li></ul><ul><li>Using a lawyer </li></ul>Chapter 15 Slide
  43. 43. >> C H E C K P O I N T <ul><li>How does mediation differ from arbitration? </li></ul>Chapter 15 Slide

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