Introduction to Business & Marketing. Reasoning vs. Emotion.

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Presentation transcript:

Introduction to Business & Marketing

Reasoning vs. Emotion

Based on Reasoning  Price  Convenience  Safety  Health  Quality  Guarantee / Warranty

Based on Emotion  Style  Color  Family / Peer Approval  Celebrity Endorsement  Power

Savvy Shoppers  Take your time before purchasing.  Time your purchase for best pricing.  Avoid impulse buying.

Smart shoppers know how to…

Compute per unit cost.  Sometimes prices vary by size.  Read labels for the size / weight of each product.  Figure out how much you are paying per unit. Peanut Butter – Brand A 8 oz. $1.60 per jar Peanut Butter – Brand B 20 oz. $3.00 per jar Peanut Butter – Brand A 8 oz. $1.60 per jar Peanut Butter – Brand B 20 oz. $3.00 per jar

Compare Sales  Promotional Sales Limited-time offer that may happen once or on a recurring basis “30% off entire store – this week only!”  Clearance Sales Final offer used to quickly sell the remaining stock of products “30% off the lowest marked price”

Research Products Types of Merchants  Full-service  Discount  Specialty  Outlet  Supermarket  Warehouse  Convenience Stores

Review Assurances  Warranties Costco vs. Best Buy  Guarantees Satisfaction Guarantee?