Chapter 6: Consumer Awareness

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Presentation transcript:

Chapter 6: Consumer Awareness Unit 2: Credit and Debt

Explore Examine the charts, graphics, and reading excerpts in Chapter 6: Consumer Awareness. Make a list of questions you would like to have answered as we go through the chapter.

Introduction WB: Before You Begin, pgs. 128-129 Journal: Review the Learning Outcome objectives and Key Terms Complete the “Before” column on the “Measure Your Progress” chart Journal: How does advertising affect your buying decisions?

Buyer Beware Section 1

Buyer Beware Video 1.1 (7 minutes): The Most Marketed-to Culture in History Journal: Why is it important for consumers to be aware of marketing tactics?

Discussion Questions Explain why our culture is so heavily marketed to. Our free market economy is driven by consumer demand. Marketing is a strategy used by businesses to promote consumer demand, thereby increasing their profits. Summarize Dave’s message about having fun with money. Dave says you’ve got to sacrifice and live like no one else so that later, you can live like no one else!

Activity Activity: Commercial Viewer

Four Common Marketing Tactics Video 1.2 (10 minutes): Four common marketing tactics Journal: What are some of your favorite brands (soft drinks, clothing, etc.)? Why do you like them?

Discussion Questions What are some ways that companies compete for your money? Personal selling, offer easy financing, repetition, product positioning. Besides marketing, what are some other factors that influence your purchasing decisions? Peers Availability of money Parental influence Etc.

Activity Activity: Marketing Madness (20 minutes)

Four Common Marketing Tactics Video 1.3 (10 minutes): Four common marketing tactics Journal: Describe one way advertising has played a role in something you’ve purchased.

Activity: 0% for 24 months, Nothing Down (20 minutes)

Types of Product Positioning Video 1.4 (9 minutes): Types of Product Positioning Journal: Have you ever bought something you thought would make you happy, but in the end it didn’t?

Buyer’s Remorse Section 2

Significant Purchases Video 2.1 (9 minutes): Significant Purchases Journal: Can you think of anything in your home that was bought but never or rarely used?

Discussion Questions What constitutes a significant purchase? Normally, anything over $300, but may vary based on one’s financial circumstances. Give an example of immature spending behavior. What’s the correct way to pay for large purchases? Save up and pay cash!

Activity Activity: The Cost of Cool (25 minutes) The Impact of Daily Decisions (25 minutes)

Opportunity Cost Section 3

Develop Power Over Purchase Video 3.1 (14 minutes): Develop Power Over Purchase Journal: Explain why it is important to develop power over purchase.

Discussion Questions Why is it important to develop power over purchase? Because it’s easy to spend more than you make. Regardless of how much money you make, if you have a spending plan and power over purchase, you can win with money. When considering your buying motives, you should be sure that you are not confusing happiness with fun. Explain what Dave means by this. You can buy fun (vacation or gifts), but you cannot buy happiness. Contentment only comes from within.

Activity Activity: Opportunity Cost (20 minutes)

Chapter Summary Budget Builder – foundationsU.com/6 Take Action Challenge, pg. 139 Study Guide: Money in Review, pgs. 140-141 Complete the “After” column on the “Measure Your Progress” chart, pg. 129.