1. Consumers in the Global Economy
CHAPTER 15
Consumers in the Global Economy
15-1 Consumer Buying Decisions
15-2 Consumer Rights and Responsibilities
15-3 Consumer Protection Actions

2. Consumer Buying Decisions
15-1
Consumer Buying Decisions
Goals

3. CONSUMER INFORMATION SOURCES
Chapter 15
CONSUMER INFORMATION SOURCES
Product testing organizations
What they are
Example of one and what they do
Media sources-
3 types
Give examples of each type

4. CONSUMER INFORMATION SOURCES
Chapter 15
CONSUMER INFORMATION SOURCES
(continued)
Government agencies
Federal
What they do
Example(s) of 5
State (what they do)
Local (what they do)

5. CONSUMER INFORMATION SOURCES
Chapter 15
CONSUMER INFORMATION SOURCES
(continued)
Business sources (ways companies make information available)
Advertising (2 things about advertising/what it does/why important)
Product labels (what they are & why important)
Customer service departments (what they are and why important
Better Business Bureau (who this is and what they do)
Personal contacts (what this is and why important)

6. WISE BUYING STRATEGIES
Chapter 15
WISE BUYING STRATEGIES
Use decision-making
Record the steps and explain each
Comparison shopping
What are the 4 things customers compare when they shop?
Describe each in 2 sentences
What is a unit price?
Promotional sales vs clearance sales (what’s the difference?)
What is a brand?
What is a brand name?
Why are they designed?
What are national brands? Give 3 examples
What are store brands/private label brands? Give an example of this
What are generic products?

7. WISE BUYING: A SUMMARY List 3 the tips
Chapter 15
WISE BUYING: A SUMMARY
List 3 the tips
Include the 3 examples of making sure you make your purchases at the right time
What is impulsive buying?
List 3 additional things about impulse buying

8. SHOPPING LOCATIONS Traditional retailers Contemporary retailers
Chapter 15
SHOPPING LOCATIONS
Traditional retailers
What are department stores?
Discount stores?
Specialty shops?
Supermarkets?
Convenience stores?
Contemporary retailers
What are specialty superstores?
What are superstores?
What is a warehouse club?
Factory outlets?
Non-store shopping
What is mail order?
Vending machines?

9. 15-1 Assessment >> highlight answer in red
Chapter 15
15-1 Assessment >> highlight answer in red
The most reliable consumer information source will usually be:
Advertising
Comments from salespeople
Comments from other consumers
Reports from consumer testing organizations
The first step in the buying decision-making process is:
Identify product alternatives
Evaluate the services at different stores
Decide whether to use cash or credit cards
Identify your needs
Which of the following is an example of a non-store shopping location?
Club warehouse
Vending machine
Factory outlet
hypermarket

10. Consumer Rights and Responsibilities
15-2
Consumer Rights and Responsibilities
Goals

11. CONSUMER MOVEMENT What was the consumer movement?
Chapter 15
CONSUMER MOVEMENT
What was the consumer movement?
List the 7 consumer bill of rights and 1 important element of each.
What is fraud?
Who is the FDA? What do they do? USDA?
Who is the FTC and what do they do?
What is a monopoly?
What is the Better Business Bureau?
What is a guarantee?
What is an express warranty?
What is an implied warranty?

12. YOUR CONSUMER RESPONSIBILITIES
Chapter 15
YOUR CONSUMER RESPONSIBILITIES
Be honest (list 2 points about each listed)
Be reasonable
Be active
Be informed
Be involved

13. 15-2 Assessment>>highlight answers in RED
Chapter 15
15-2 Assessment>>highlight answers in RED
T/F The U.S. Consumer Product Safety Commission is responsible for regulating the safety of food
T/F An implied warranty is usually printed in the owner’s manual of a product
A person who compares product information on labels is using the consumer right to:
Service
Be informed
Be heard
A remedy
If a person returns an item as new for a refund after using it, this violates the consumer responsibility of:
Honesty
Involvement
Informed
active

14. Consumer Protection Actions
15-3
Consumer Protection Actions
Goals

15. COMMON CONSUMER PROBLEMS
Chapter 15
COMMON CONSUMER PROBLEMS
List 2 examples of common consumer problems
Sources of complaints
List 8 types of businesses that receive a lot of customer complaints

16. DECEPTIVE BUSINESS ACTIVITIES
Chapter 15
DECEPTIVE BUSINESS ACTIVITIES
List 5 important facts about what some businesses do that is deceptive or sneaky?

17. PROTECTION FOR SHOPPERS
Chapter 15
PROTECTION FOR SHOPPERS
Federal Laws (what do they protect?)
Credit card bill disputes (how do those work?)

18. COMPLAINT PROCESS-list each step AND describe
Chapter 15
COMPLAINT PROCESS-list each step AND describe
Step 1
Step 2
Step 3
Step 4

19. LEGAL ACTIONS FOR CONSUMERS
Chapter 15
LEGAL ACTIONS FOR CONSUMERS
Third-party settlements
What is Mediation? When is it used?
What is Arbitration? When it is used?
What are Class action suits? When are they filed?
What is Small claims court? What kinds of cases are sent there?
Using a lawyer (2 facts about using one)

20. 15-3 Assessment>>highlight answer in RED
Chapter 15
15-3 Assessment>>highlight answer in RED
Most consumer complaints are resolved by
Taking legal action
Using arbitration
Hiring a lawyer with consumer protection experience
Returning to the place of purchase
A company refused to refund $10 to more than 4000 customers. This might result in the use of
Mediation
Arbitration
A class action suit
Small claims court