buying decisions - ch. 7
Post on 06-Dec-2014
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Buying DecisionsMake Good Choices
Objectives
• Purchasing Choices• Buying Plan
Purchasing Choices
• Impulse Buying– When you do not think about a purchase ahead
of time• Buying Plan– Evaluate needs and wants– Gather information– The “Purchase”– Evaluate the purchase
Step 1
Evaluate Needs and Wants• Think about items you really want or need • Set Criteria– standards or rules by which something can be
judged– Ex: features, functions, and quality
• Set a timeline• Set a spending limit– maximum amount you are willing to pay for an
item
Buying PlanNeed/Want Item Item Criteria Timeline Spending Limit
Shoes Tennis shoes CushionArch support
By Nov. $70
Cell phone Type of phone
CameraKeypadtexting
By Dec. $60
Clothes for prom
Dress/ tuxedo Pretty/affordable March $200
Step 2
Gather Information• Comparison shopping– Know your options– Internet • Good place to do product research
– Rebate • Refund part of the purchase price of an item
– Payment
Each purchase involves 2 choices
Can you name them?
What to buyHow will you pay
Step 3
Make the Purchase• Good condition• Check warranties• Keep receipts• Return policy
Step 4Evaluate the Purchase
• Are you satisfied?• Do you feel good about the $ spent?• Does it meet the need or want?
It’s Your Money You are In Charge!!
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