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
Comparison Shopping
Comparison shopping is the practice of comparing products and their prices to find the best buy for our needs.
Brand Name
A brand name is the name of a product or it’s trademark.Example: Charmin Toilet paperIt is:- Recognizable- Often more expensive
Generic Brand
A generic brand is a product that has no brand name packaging. Example: AAFES brandsIt is:- Often cheaper- Usually made at the same factories as the brand name items
Discount Store
A discount store is part of a chain of large stores that offers merchandise at very competitive prices. Example: Wal-Mart
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
Deciding on the item
Factors:• Quality• Quantity• Timing• Brand Name• Recommendations• Warranty• Research
Quality
What level of quality do I want?Low- cheaper, doesn’t last as longMedium- more expensive, but lasts awhileHigh- most expensive, but longer life of item
Recommendation
What are people saying about this item? Do people recommend buying it, or is it just advertising?
Warranty
Does the item have a warranty?Are the warranty terms vague?Do I have to pay extra for a warranty?
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.)
Comparison Shopping Activity 1Item Name Electronics 1 Electronics 2 Electronics 3
Store Name
Item Name
Brand Name
Price
Basic Features
Special features
Warranty
Refund/Exchange PoliciesOther
Comparison Shopping Activity 2Item Name Clothing 1 Clothing 2 Clothing 3
Store Name
Item Name
Brand Name
Price
Where it will be wornStyle
Durability
Comfort
Refund/Exchange PoliciesOther
Activity Directions
1. Work with a partner and one computer2. 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.