Effective Shopping


Published on

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

Effective Shopping

  1. 1. Effective Shopping Practices 6.01- Shopping Options
  2. 2. 6.01- Shopping Options <ul><li>PLAN BEFORE YOU SHOP </li></ul><ul><li>COMPARISON SHOP </li></ul><ul><li>SHOP WISELY </li></ul>
  3. 3. 6.01- Shopping Options <ul><li>PLAN BEFORE YOU SHOP </li></ul>Rule #1 <ul><li>Decide whether to shop at home or in a store </li></ul><ul><li>When there is a choice, decide whether to purchase goods or services </li></ul><ul><li>Check reliability and services of stores and distance-sellers </li></ul><ul><li>Decide when to buy </li></ul>
  4. 4. Shop in stores or at home? <ul><li>Let’s review the pros and cons of shopping in a store </li></ul><ul><li>Let’s review the pros and cons of shopping at home </li></ul>6.01- Shopping Options
  5. 5. Buy goods or services? <ul><li>Sometimes you have an option of whether to purchase goods or services </li></ul><ul><ul><li>Example 1: Buy a ready-made prom gown, or pay someone to make you a gown? </li></ul></ul><ul><ul><li>Example 2: Buy a new motorcycle or pay someone to fix up the used cycle you have? </li></ul></ul>6.01- Shopping Options
  6. 6. Buy goods or services? <ul><li>Goods have clearly identified prices, while prices of services may be harder to determine. </li></ul><ul><li>Quality of goods can be reviewed and rated; quality of services is best reflected in performance. </li></ul>6.01- Shopping Options
  7. 7. Check reliability and services <ul><li>Only respectable businesses back up their claims </li></ul><ul><li>Services </li></ul><ul><ul><li>Methods of payment accepted </li></ul></ul><ul><ul><li>Return/refund policies </li></ul></ul><ul><ul><li>Knowledgeable sales staff </li></ul></ul><ul><ul><li>Special services </li></ul></ul><ul><ul><ul><li>Gift wrap </li></ul></ul></ul><ul><ul><ul><li>Special orders </li></ul></ul></ul><ul><ul><ul><li>Delivery </li></ul></ul></ul><ul><ul><ul><li>Repairs/maintenance </li></ul></ul></ul>6.01- Shopping Options
  8. 8. Decide when to buy . . . <ul><li>Buy now with cash or credit </li></ul><ul><li>Save for purchase at a later time </li></ul><ul><li>When possible, wait for a sale </li></ul><ul><li>Avoid impulse buying </li></ul>6.01- Shopping Options
  9. 9. 6.01- Shopping Options <ul><li>COMPARISON SHOP </li></ul><ul><li>Products </li></ul>Rule #2 <ul><li>Research the product </li></ul><ul><li>Compare products </li></ul><ul><li>Understand warranties </li></ul><ul><li>Talk to people who have </li></ul><ul><li>made the same purchase </li></ul><ul><li>Check the Internet </li></ul>
  10. 10. Research the product <ul><li>Do your homework --- become familiar with the product </li></ul><ul><li>Talk to people who have made the same purchase </li></ul><ul><li>Check Internet for consumer information, magazines, other publications </li></ul>6.01- Shopping Options
  11. 11. Compare products <ul><li>Brand names, store brands, and generics </li></ul><ul><li>Size of package </li></ul><ul><li>Other product features </li></ul>6.01- Shopping Options
  12. 12. Understand warranties <ul><li>Implied warranty – product is in proper condition and does what it is intended to do </li></ul><ul><ul><li>Example: Hair dryer blows and dries hair </li></ul></ul>6.01- Shopping Options
  13. 13. Understand warranties <ul><li>Written warranty – goes beyond implied warranty by providing a written guarantee </li></ul><ul><ul><li>Full warranty – according to law, must provide all 5 standards stated by Magnuson-Moss Act </li></ul></ul><ul><ul><li>Limited warranty – provides 1-4, but not all, of standards in Magnuson-Moss Act </li></ul></ul>6.01- Shopping Options <ul><li>Standards of Magnuson-Moss Act </li></ul><ul><li>Warranty extends to any owner of product, not just original owner </li></ul><ul><li>No cost for warranty </li></ul><ul><li>Nothing to do to receive warranty </li></ul><ul><li>Guarantees refund or replacement </li></ul><ul><li>Does not limit time period of implied warranty </li></ul>
  14. 14. 6.01- Shopping Options <ul><li>COMPARISON SHOP </li></ul><ul><li>Services </li></ul>Rule #2 <ul><li>Identify a person(s) or business(es) that provide the desired service </li></ul><ul><li>Check qualifications </li></ul><ul><li>Interview; ask for demos/samples </li></ul><ul><li>Check references </li></ul><ul><li>Check licensing, bonding, insurance </li></ul><ul><li>Pay close attention to agreements </li></ul>
  15. 15. Pay close attention to terms of agreements <ul><li>Estimate --- a total expected cost, in writing, for performing a service </li></ul><ul><li>Work order --- gives authority to the provider to perform services </li></ul><ul><li>Contract --- a legally binding agreement between a service provider and a consumer </li></ul><ul><li>Service warranty --- a guarantee of quality standards for performance </li></ul>6.01- Shopping Options
  16. 16. <ul><li>Consider the value of time and energy, as well as money </li></ul><ul><li>Handle money, cash, and credit cards with care </li></ul><ul><li>Get receipts and sales slips; file carefully </li></ul><ul><li>Deal fairly and honestly with others in the marketplace </li></ul><ul><li>Report unfair/dishonest practices to the </li></ul><ul><li>proper authorities </li></ul>6.01- Shopping Options <ul><li>SHOP WISELY </li></ul><ul><li>In Stores </li></ul>Rule #3
  17. 17. <ul><li>Know name, location of seller </li></ul><ul><li>Understand what you are buying </li></ul><ul><li>Compare prices with other retailers </li></ul><ul><li>Only buy from secure sites </li></ul><ul><li>Check seller’s privacy policy </li></ul><ul><li>Pay by credit card </li></ul><ul><li>Find out delivery date, return and refund policy </li></ul><ul><li>Check product promptly when delivered </li></ul>6.01- Shopping Options <ul><li>SHOP WISELY </li></ul><ul><li>At Home </li></ul>Rule #3