1. Introduction to Business & Marketing

2. Today’s Objectives  Understand consumer buying motives.  Compare buying motives based on reasoning to buying motives based on emotion.  Practice comparison shopping in order to determine the best buy among products and services.

3. Reasoning vs. Emotion

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

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

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

8. Smart shoppers know how to…

9. 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

10. 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”

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

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