1. Lesson 3-3 Getting More for Your Money Learning goals: -Describe strategies used by businesses to sell goods and services, both in meeting and in creating demand -Discuss strategies consumers can use before, during, and after a purchase

2. Bell Ringer  How much does it cost to run an advertisement during the Super Bowl? $$

3. Meeting Customers Needs and Wants  Convenience  Location  Pleasant for customers  Clean, comfortable and safe place  Customer Service  Warm, friendly greeting  Prompt and courteous help when needed  Satisfied customers will also tell others of their experience  The Right Product and Price  Meet basic needs  Convenience products  Making customer look good  Branding strategy – carrying well-known brand names to attract customers who are loyal to those brands  Discount Pricing – offering the lowest everyday price possible  Appeals to customers who economize and don’t care about the frills or service.

4. Advertising  Advertising is informing consumers about products and encouraging them to buy.  Ad are created for a target audience, which is a specific group of people who are likely to buy the product  Types of Advertising  Newspaper and Magazine Advertising – reaches large number of people  Television and Radio Advertising – very expensive but can reach millions  Internet Advertising – tracking is often done using cookies  Banner ads – span the top, bottom, or sides of a web page  Pop-up ads open in a new window  Emails  Billboards, Signs, Circulars, and Brochures – advertise to masses rather than a target audience.  Direct Advertising – distribution of product information directly to consumers  Door to door salesmen  Customer Loyalty Programs – designed to encourage a customer’s repeat business  Transit advertising – print ads or signs on public transportation

5. Consumer Buying Strategies  Before you shop  Make a list  Know what you want  Know how much you are willing to spend  While you shop  Stick to the list  Compute unit prices  Be at your peak  Avoid being emotional  Don’t allow yourself to be pressured or to make rapid decisions  After you buy  Keep receipts and warranties  Take advantage of rebates  Keep the box and all pieces until you’re sure the product is working properly  Evaluate your shopping experience

6. Online shopping  The internet is a valuable tool for better buying practices  Do research and comparative pricing.  Buy online if the product and costs are comparable and you trust the website.

7. Comparison Shopping  Process of checking prices among several sellers to make sure you are getting the best price for what you buy

8. Assignment  Due Thursday, Jan. 29 – pg. 99 questions 1-18  Read Lesson 3-4