1. Shopping Wisely Coach Markus

2. Objectives Compare purchasing choices on items that you use Gather appropriate information to make wise buying decisions Choose the best buy using comparison-shopping techniques

3. Comparison Shopping Comparison shopping is the practice of comparing products and their prices to find the best buy for our needs.

4. Comparison Shopping…. Takes planning and practice. And… Time and effort.

5. Brand Name A brand name is the name of a product or it’s trademark. Example: Charmin Toilet paper It is: -Recognizable -Often more expensive

6. Generic Brand A generic brand is a product that has no brand name packaging. Example: AAFES brands It is: -Often cheaper -Usually made at the same factories as the brand name items

7. Discount Store A discount store is part of a chain of large stores that offers merchandise at very competitive prices. Example: Wal-Mart

8. Thrift Store A thrift store is a store that sells second-hand or used merchandise at prices much cheaper than if the merchandise was purchased new. Example: Goodwill/Salvation Army

9. Deciding on the item Factors: Quality Quantity Timing Brand Name Recommendations Warranty Research

10. Quality What level of quality do I want? Low- cheaper, doesn’t last as long Medium- more expensive, but lasts awhile High- most expensive, but longer life of item

11. Quantity How much can I afford? Do I have storage space? How quickly will I use the items?

12. Timing Do I need this NOW? Should I wait for a SALE?

13. Brand Name or Generic? What is more important to me?

14. Recommendation What are people saying about this item? Do people recommend buying it, or is it just advertising?

15. Warranty Does the item have a warranty? Are the warranty terms vague? Do I have to pay extra for a warranty?

16. Research How much have I researched this item? Have I read the reviews?

17. Comparing Similar Items Being a consumer involves decision making. Factors to consider: -Store -Brand name -Price -Basic features -Special features -Refund/Exchange policies -Other (Durability, Comfort, Style, etc.)

18. Comparison Shopping Activity 1 Item NameElectronics 1Electronics 2Electronics 3 Store Name Item Name Brand Name Price Basic Features Special features Warranty Refund/Exchange Policies Other

19. Comparison Shopping Activity 2 Item NameClothing 1Clothing 2Clothing 3 Store Name Item Name Brand Name Price Where it will be worn Style Durability Comfort Refund/Exchange Policies Other

20. Activity Directions 1.Work with a partner and one computer 2.Choose an electronic or clothing item that you will “purchase” using comparison shopping. 3.Determine your budget limit and write it on the top of the page first. 4.Use internet shopping sites to locate and research your items to fill in the form. 5.We will present findings at the end of class.