1. Consumerism Unit Vocabulary Terms Mrs. Hayes Home & Careers

2. Consumer-  One that acquires goods or services for direct use or ownership Example: Buying bread at the market, you are a consumer.

3. Need-  A condition or situation in which something is required. Ex: As humans we need water to live.

4. Want-  To desire greatly; wish for Ex: I want to own a Cadillac Escalade.

5. Priority-  Precedence, especially established by order of importance or urgency. Ex: Doing your homework is a priority over playing video games.

6. Brand-  A trademark or distinctive name identifying a product or a manufacturer. Ex: A brand of cola beverage is Pepsi.

7. Retail-  The sale of goods or commodities in small quantities directly to consumers. Ex: Wal-Mart is a retail store.

8. Advertisement-  A notice, such as a poster or paid advertisement in the print, broadcast, or electronic media designed to attract public attention. Ex: A television commercial is an advertisement.

9. Advertisements  Advertisements are found everywhere!  Can you think of places you see them?

10. Brand Extension-  The practice when a brand is applied to another product Ex: The Reese’s Brand item is extended (added to) Betty Crocker

11. Line Extension-  A product line extends the brand name to include a new flavor, size, package, etc. while keeping the original product the same. Ex: Nike first made sneakers. Then extended the line to include clothing, and athletic items.

12. Endorsement-  When a famous personality promotes a product, but doesn’t necessarily use it. Ex: Ellen Degeneres endorses CoverGirl.

13. Blind Taste Test  The brand of each product is kept hidden from the person who is tasting each product. Ex: Starbucks and Maxwell house coffee are judged based upon taste & smell.