Consumer Decisions
Shopping around to obtain the best deal.
Comparison shopping.
A state of disorder due to the absence of controlling systems, laws or authority.
Anarchy.
A person who must defend their actions in court.
Defendant.
A paid, non-personal message communicated through a mass medium.
Advertising.
Country where it is illegal to chew gum.
Singapore.
A term that refers to buying goods online.
e-Commerce.
A piece of legislation that outlines how a country should be run.
A constitution.
A type of tourism that involves all nature-based forms of tourism, an appreciation of nature and all the traditional cultures that exist within it.
Eco-tourism.
To inform, persuade and remind consumers about a business’s products.
Promotion.
Moral principles based on ideas of right and wrong in an entire society.
Ethics.
Identify at least THREE methods of payment.
Cash, Credit, PayPal, Afterpay, Direct Debit, Cheque.
A type of law made by politicians.
Statute law.
Used to make specific laws and to control behaviour between different countries.
Treaties.
When products (goods or services) that are the same or similar are made to appear different from and/or better than those of their competitors.
Differentiation
Continent that accounts for half of the world's international arrivals.
Europe.
Identify the TWO forms of misleading advertising.
Bait and switch advertising and misleading advertising.
One of the most important documents in history, that states everyone is subject to the law (hint: even kings!)
Magna Carta.
An official document issued by a government, certifying the holder's identity and citizenship.
Passport.
A direct inducement to customers in an attempt to sell more of its product (examples include coupons, loyalty rewards).
Sales Promotion.
Identify FOUR key factors affecting consumer and financial decisions.
Price, Convenience, Marketing and Advertising, Gender, Age, Disposable Income, Customer Service, Social media, Environmental considerations, Cultural factors
You are required to pay a joining fee with the option of earning quick and easy money as you recruit new members. However, you will likely lose your money.
Pyramid scheme.
Negligence, defamation, nuisance, trespass.
Name of website where The Australian Department of Foreign Affairs and Trade issues travel warnings for people planning to visit overseas countries.
Smart Traveler.
A person who influences others. Their opinions are respected and they are often sought out for advice. Marketing managers use these people as information outlets for new products or to endorse an existing one.
Opinion leaders.
When the managers or owners of a business taking steps to ensure that the broader social welfare, including employees, customers, suppliers and the environment, is taken into consideration.
Corporate Social Responsibility.