Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
New JC Smart Shopper
New JC Business Studies Being a Smart Shopper
| Question | Answer |
|---|---|
| What is a consumer? | A consumer is anyone who purchases goods or services for their own use. You are a consumer whenever you purchase anything, such as a snack, a magazine or a hair-cut. Your parents are consumers when they purchase groceries, a car or a holiday. |
| List of what you can do to be a smart consumer. | DO I really need it? Can I afford it? Is it value for money? Can I get it cheaper elsewhere? Do understand the labels, get a receipt understand my consumer rights and responsibilities? Don't make impulse purchases? Don't be manipulated by advertising? |
| Distinguish between a consumer need and a consumer want. | Needs are something that we cannot do without (to survive or improve our lives). Wants are things we would like to have but are not essential ex. toys, gadgets, cosmetics, fashion clothing and jewellery. |
| What is meant by a false economy. | A false economy is when we purchase a cheap er product but it turns out to be more expensive in the long run. Ex. Buying cheap batteries for €1 that go flat after two hours instead of a more reliable brand that cost €4 but will last 20 hours. |
| Examples of five Irish brands. | Tayto Crisps, Kerrygold, Ballygowan, Dunne Stores, Ryanair, O'Brien Sandwich Bars, Supermacs, Maxol |
| What is meant by 'Unit pricing'? | Unit pricing refers to the price of a single amount of something. This is useful to calculate when you are comparing prices of items that come in different sizes or quantities. Unit Price = Price/Quantity |
| What is meant by 'below-cost selling'? | When retailers sell a product at a lower price than they paid for it. They are selling it a loss. This technique is used to sell low-value items hoping that customers will also buy other, more profitable, items from the same retailer at the same time |
| What are impulse purchases? | Impulse purchases occur when consumers make a sudden, unplanned decision to buy something. The consumer had not planned to buy the item but we go ahead and purchase it anyway on the spur of the moment. |
| List two reasons why getting a receipt is always a good idea. | 1. Proof of purchase if you have a problem with the product and need to return to the shop. 2. Reviewing receipts, recording your expenditure every week/month is useful means of monitoring how much/ and what you are spending and on. |
| Distinguish between informative and persuasive advertising. | Informative advertising gives the public information about a product (sizes, colours, where/when it can be bought). Persuasive advertising tries to convince you really 'need' a product (can be more manipulative as it tries to influence your emotions). |
| In advertising, what does AIDA stand for? | AIDA principles: Attention (eye- catching picture), Interest (Arouse their Interest in finding out what the ad is about) Desire (stimulate their desire/wants by making the product attractive/perfect solution ) Action (getting you to buy). |
| What is a budget | Is a plan of how much money you are prepared to spend. |
| What is a Brand? | The distinctive name and logo that producers put on their products, services or businesses. |
| What is conspicuous consumption? | Spending in an extravagant way with the deliberate intention of trying to impress others. |
| What is a guarantee? | A promise from the manufacturer or seller to offer a refund or a replacement to anyone who purchases faulty goods within a specific period of time. |
| What is a warranty? | An additional promise from a manufacturer or seller to repair any faulty goods within a specific period of time (e.g. 24 months). |
Created by:
MrFromholz
Popular Business sets