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Consumerism
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39
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7th Grade
01/27/2014

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Term
Consumer
Definition
Someone who uses or purchases goods and services
Term
Good
Definition
An actual item ex: Ipod
Term
Service
Definition
When you pay someone to do something for you.
Ex: Getting a hair cut
Term
Impulse Decision
Definition
A decision that you make with little or no thought.
Term
Consumer Reports
Definition
A non-bais resource that has no ads in it. They purchase products and then test them.
Term
Bait and Switch Advertising
Definition
A misleading form of advertising where you are lured in by a promise of a low price and then they switch them to a more expensive one.
Term
Conspicuous Consumption
(AKA Keeping up twith the Jones)
Definition
When you buy something to keep up with someone else or because every one has it.
Term
Law of Supply and Demand

When the the demand for a product is high and the the supply is limited. What is going to happen to the price?
Definition
The price goes up.
Term
Law of Supply and Demand

When the the demand for a product is low and the the supply is O.K. or high. What is going to happen to the price?
Definition
The price goes down.
Term
Four Shopping Tips.
Definition
1. Think about it.
2. Do your H.W. or research.
3. Bring a friend except when food shopping.
4. Leave you money at home.
Term
Never go food shopping...
Definition
With someone else or when you are hungry.
Term
The color green on packages means...
Definition
It is is health or eco. friendly.
Term
setting a product apart from its competitors.
Definition
Positioning
Term
Repositioning
Definition
Selling a product in a new way or to a new group of consumers.
Term
You have the right to learn about your consumer rights and responsibilities. This Consumer Right is
Definition
The Right to Consumer Education.
Term
Products must be well designed and if used properly should not cause injury or harm. This Consumer Right is...
Definition
The Right to Safety.
Term
Labels give you information about a product. Laws protect you from false or misleading advertising. This right is...
Definition
The Right to information.
Term
Consumers have the right to pick from a variety of products and where you purchase them. You have this right....
Definition
The Right to Choose.
Term
You have the right to speak out if you are not satisfied with a product or a service was not performed correctly. This right is.....
Definition
The Right to be Heard.
Term
This is the newest consumer law. It is usually addressed at the state level. It is not clearly defined. This right is....
Definition
The Right to Service.
Term
This allows you to compare different brands or sizes of packages to see what is the "Best Deal".
Definition
Unit Pricing
Term
To compute the unit price you...
Definition
Divide the price you paid by the amount in the package.

You can also use a ratio chart....
Term
National or Name Brand
Definition
Usually more expensive because of advertising and more colorful/expensive packaging.
Term
Store or House Brand
Definition
This is only sold at one store. It is less expensive because packaging is cheaper/less colorful and they usually do no advertise.
Term
Generic/no Name/Lesser Name Brand
Definition
These are usually less expensive due to less colorful/expensive packaging. They are sold at limited stores and are not available for all products. They usually do not advertise.
Term
The "Food Label" is based on a _________ calorie a day diet.
Definition
2,000
Term
To be considered low on the food label it must be this percent or lower.
Definition
5%
Term
To be considered high on the food label it must be this percent or above.
Definition
20%
Term
Where the food was produced must now be on products like produce(Ex: Fruits and Veggies). This is the country of
Definition
origin
Term
A catchy phrase or song.
Definition
Jingle
Term
The goal of a company is to...
Definition
Sell a product or to make $$$$
Term
A name, sign, symbol, or slogan.
Definition
Brand
Term
Advertising, packaging, pricing, and places.
Definition
Marketing
Term
Name, Logo, visual representation, and messaging. (What ever makes it identifiable)
Definition
Brand Identy
Term
People/celebrates, characters and animals used in advertising.
Definition
Trade Characters
Term
Brand Loyalty.
Definition
When you always buy a specific brand.
Term
Proof of where you made a purchase, when you made it, and how much you paid.
Definition
Receipt
Term
A guarantee that a product will work as is should for a certain length of time.
Definition
Warranty
Term
Comparing prices of products and the services. This may involve going to store, businesses and/or web sites.
Definition
Comparison Shopping
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