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Year 9 NSW
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Consumer choice
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Decisions and consequences
Topic : Decisions and consequences
In this topic you will learn...
Chapter 1 :
Comparing quality of goods
Comparison shopping is the process of researching and decision making with regard to purchasing a product
Quality is the ability of a product to meet standards and/or requirements
Need will give you idea of your requirements and is usually the initial motivation for purchasing a product
Durability is the lifespan of a product
Efficiency is a measure of how well the product fulfils your requirements with regard to available resources
Price includes any hidden or ongoing costs associated with the product
After-sales support, including warranty and service, add to the quality and value of a physical item for some consumers
Chapter 2 :
Choosing where to purchase
Retail is a consumer-driven interface for the purchase of goods
Retailers have a physical space specifically designed for interaction between the consumer, product and seller
Wholesale is a logistics-driven interface between manufacturers and retailers
Wholesalers concern themselves with the distribution of products rather than consumer sales
Manufacture is a product-driven process where the outcome is the creation of goods
Manufacturers are not directly involved in selling the product to consumers
Private sales involve direct interaction between the seller and the consumer
Mixed marketplaces combine many of the benefits of traditional selling mediums
An auction is the sale of a specific item to the purchaser willing to pay the most
Online shopping is a dynamic interface that combines all types of selling styles
Chapter 3 :
Considerations influencing consumers
The extent to which particular considerations influence a consumer's decision depends on the individual consumer
Personal taste will affect your perception of a product
Individual politics determine what and for what reason consumers purchase a certain product
Positive or negative prior experience will influence future purchasing decisions
Personal limits may restrict what you decide to buy
Convenience, atmosphere and service form the elements of a purchasing environment that can affect your decision making ability
Your ability to purchase a product is limited by its availability, exclusivity and legal requirements
The product's price and your ability to pay for a product may restrict choice
Price may also influence your perception of a product
Marketing is the promotion of a product designed to create awareness and a positive perception of the product or brand
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