Consumer Vocab
A person or business that buys a good or service
What is a Consumer?
Nike, Apple, Carhartt, are all examples of this.
What are Brand Names?
This type of sale is when a business marks down merchandise they no longer want to carry or mark items down at the end of the season.
What is a Clearance Sale?
The price per unit of measure.
What is Unit Pricing?
A rating given to food that indicates the quality and/or size.
What is a Grade?
This type of store gets products directly from the factory and sells them at lower prices.
What are Outlet Stores?
Calculate the unit price for a 16 oz bag of vegetables that costs $3.36.
What is $0.21 per oz?
This occurs when consumers are given false information deliberately in an effort to make a sale.
What is Fraud?
A tag attached to or printed on a product that contains useful information about it
What is a label?
These offer a narrower line of products for sale, such as sporting goods, jewelry, etc.
What are Specialty Stores?
This is a type of sale that often occurs when a new store is opening or when a store moves to a new location and wants to attract customers.
What is a Promotional Sale?
Purchasing something without much thought.
What is Impulse Buying?
Looking a two or more products and deciding which one is more better for you.
What is Comparison Shopping?
Costco and Sam's Club are examples of this kind of store.
What are Warehouse Club Stores?
Other than comparing price, you should also look for this is a product or service, something that does not wear out quickly and you will get your moneys worth.
What is Quality?
Given to a product or service to distinguish it from other similar products or services.
What is a Brand Name?
When a business has no competition and controls the market for a good or service.
What is a Monopoly?
The most valuable business asset to business owners.
What is Business Reputation?
What has the lower unit price?
A.) 42 cards for $22.49
B.) 24 cards for $11.99
What is Option "B"?
JFK's 1962 document that outlined the consumer movement.