Chapter 4 consumer purchasing - Honore
Time and purchases
-buying seasonal clothes mid way through season - shopping at back-to-school sales, spring sales, and others - taking advantage of the clearance sales
Four phases to research base approach
1. before you shop 2. weighing alternatives 3. making the purchase 4. after the purchase
steps of Resolving difference between buyers and sellers
1. return to the place of purchase 2. contact company headquarters 3. consumer agency assistance; BBB (Better Business Bureau) 4. dispute resolution
open dating
A labeling method that indicates the freshness, or shelf life, of a perishable product, such as milk or bread.
what are the two types of warranties?
Implied and expressed
small claims court
a court that deals with legal disputes that involve amounts below a certain limit
class action suit
a legal action on behalf of all the people who have suffered the same injustice
legal aid society
a network of community law offices that provide free or low-cost legal assistance
cooperative
a nonprofit organization owned and operated by its members for the purpose of saving money on the purchase of goods and services
rebate
a partial refund of the original price of the product
Down Payment
a portion of the total cost of an item that must be paid at the time of purchase
Arbitration
a process whereby a conflict and a business
express warranty
a written guarantee
warranty
a written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired
implied warranty
an unwritten guarantee that the good or service is fit for the purpose for which it was sold
Compare options
buy higher quality item if you can afford all choices, consider buying item that gives you best value per dollar if cannot afford all choices.
fraud
dishonest business practices that are meant to deceive, trick, or gain an unfair advantage
phase one
identify your needs and gather information
Phase three
negotiating prices, mostly real estate and cars
impulse buying
purchasing items on the spur of the moment
Price does not always equal...
quality
medianton
the attempt by a central third party to resolve a conflict between a customer and a business discussion and registration
unit pricing
the use of a standard unit of measurement to compare the prices of packages that are different sizes
weighing alternatives
your personal values, available time for research, amount of money you have to spend, convenience of buying the item immediately, and pros and cons of a purchase brand.