1. What is a brand?  A word or name that helps the consumers distinguish one product from another

2. What are the pros and cons of buying generic brands?

3. Being a wise consumer means making choices  What to buy  When to buy  Where to buy  What to pay (How to pay)  What to buy  When to buy  Where to buy  What to pay (How to pay)

4. Where to buy  Department store  Discount store  Off-Price and Outlet Stores  Limited-Line Retailers  Department store  Discount store  Off-Price and Outlet Stores  Limited-Line Retailers  Superstores and Hypermarkets  Warehouse Stores  Showroom Retailers  Shopping at Home

5. How to be a smart consumer

6. 1 Study advertisements  Rational and Emotional Advertising

7. 2 Read Consumer Publications  Consumer Research Inc.  Consumer Research Magazine Consumer Research Magazine  Consumer Union  Consumer Reports Consumer Reports  Consumer Research Inc.  Consumer Research Magazine Consumer Research Magazine  Consumer Union  Consumer Reports Consumer Reports

8. 3 Shop at sales  Experts say that an average customer can save up to 15% by taking advantage of sales  Promotional sales  Clearance sales  Experts say that an average customer can save up to 15% by taking advantage of sales  Promotional sales  Clearance sales

9. 4 Use Shopping Lists

10. 5. Resist Pressure and Gimmicks

11. 6. Read Labels and Warranties  A warranty is a legal document that states the rights and responsibilities agreed to by the consumer and the store or the manufacturer

12. Warranties Continued  Expressed-Made orally or in writing and promises a specific quality of performance  Implied - created by law  Merchantability- must be in good working condition for normal use  Fitness- when consumer asks about the desired use and dealer promises  Guarantee-a promise that a product is of a certain quality  As Is -disclaimer that protects the seller of potentially faulty products  Expressed-Made orally or in writing and promises a specific quality of performance  Implied - created by law  Merchantability- must be in good working condition for normal use  Fitness- when consumer asks about the desired use and dealer promises  Guarantee-a promise that a product is of a certain quality  As Is -disclaimer that protects the seller of potentially faulty products

13. What is the difference between a guarantee and warranty?  A warranty is a promise to replace or repair an item if the item does not satisfy the terms of the warranty.  A guarantee is a promise to return the money paid to purchase an item if the item does not satisfy the terms of the guarantee. That is why a wedding photographer can only offer a "money back" guarantee, and not a warranty.  According to the 1985 Moss Magnuson Act, warranty and guarantee are the same thing.  A guarantee is a document to protect consumer rights. It is a promise by a seller with a buyer for complete replacement of the item/ article or product; usually guarantee is valid for a fixed period of time. It has a legal status, even if we do not pay for or it was offered free of cost by a seller.  Warranty is also a document that protects consumer rights. It is more or less like insurance policy for that we have to pay certain amount to come into legal contract. So on the basis of this legal bond the company can be taken to court if it does not bound what has been agreed in the warranty document. Warranty covers only repair of the article.  Guarantee is more in manufacture, Warranty is more in distribution and reselling parts;  A guarantee is giving you their word (kinda like an empty promise.) A warranty is in writing that they will correct any problem within the scope of the warranty. Take a warranty over a guarantee anytime.  http://wiki.answers.com/Q/What_is_the_difference_betwen_a_guarantee_and_warranty  A warranty is a promise to replace or repair an item if the item does not satisfy the terms of the warranty.  A guarantee is a promise to return the money paid to purchase an item if the item does not satisfy the terms of the guarantee. That is why a wedding photographer can only offer a "money back" guarantee, and not a warranty.  According to the 1985 Moss Magnuson Act, warranty and guarantee are the same thing.  A guarantee is a document to protect consumer rights. It is a promise by a seller with a buyer for complete replacement of the item/ article or product; usually guarantee is valid for a fixed period of time. It has a legal status, even if we do not pay for or it was offered free of cost by a seller.  Warranty is also a document that protects consumer rights. It is more or less like insurance policy for that we have to pay certain amount to come into legal contract. So on the basis of this legal bond the company can be taken to court if it does not bound what has been agreed in the warranty document. Warranty covers only repair of the article.  Guarantee is more in manufacture, Warranty is more in distribution and reselling parts;  A guarantee is giving you their word (kinda like an empty promise.) A warranty is in writing that they will correct any problem within the scope of the warranty. Take a warranty over a guarantee anytime.  http://wiki.answers.com/Q/What_is_the_difference_betwen_a_guarantee_and_warranty

14. Consumer Bill of Rights  Started in 1962 by President John F. Kennedy  Four Rights  Right to be informed  Right to Choose  Right to Safety www.cpsc.gov/cpscpub/prerel/category/toy.htmlgov/cpscpub/prerel/category/toy  Right to be Heard  Started in 1962 by President John F. Kennedy  Four Rights  Right to be informed  Right to Choose  Right to Safety www.cpsc.gov/cpscpub/prerel/category/toy.htmlgov/cpscpub/prerel/category/toy  Right to be Heard

15. Three more were added later  Right to Have Problems Corrected  Right to Consumer Education  Right to Service  Right to Have Problems Corrected  Right to Consumer Education  Right to Service

16. Consumer Complaints  There are laws to protect you from unethical business practices  Fraud Bait and Switch  There are laws to protect you from unethical business practices  Fraud Bait and Switch

17. Your Responsibilities

18. 1 Be Informed

19. 2 Choose Carefully  Pollution  Conserving Resources  Recycling  Pollution  Conserving Resources  Recycling

20. 3 Use Products Safely

21. 4 Speak Out – Boycott

22. 5 Seek a Remedy

23. 6 Learn Consumer Skills

24. Chapter 24

25. Consumer Organizations or consumer advocates  Consumer Federation of America  Largest, 50 million members 260 groups  Studies federal laws that affect consumers  National Consumers League  Oldest non-profit consumer group membership is open. National fraud information center. Monitors the Internet  Consumer ’ s Union  Nonprofit publisher of Consumer Reports  Magazine doesn ’ t advertise or allow its findings to be used in advertising  Consumer Federation of America  Largest, 50 million members 260 groups  Studies federal laws that affect consumers  National Consumers League  Oldest non-profit consumer group membership is open. National fraud information center. Monitors the Internet  Consumer ’ s Union  Nonprofit publisher of Consumer Reports  Magazine doesn ’ t advertise or allow its findings to be used in advertising

26.  Major Appliance Consumer Action Program  Deals with large appliances.  Most dealers are members  Radio and Television  Consumer reporter  Major Appliance Consumer Action Program  Deals with large appliances.  Most dealers are members  Radio and Television  Consumer reporter

27. Federal Agencies  Federal Trade Commission – FTC  Enforces laws about business practices  US Department of Agriculture – USDA  Inspects food - grade labels  Food and Drug Administration – FDA  Approves drugs and food “ claims ”  Better Business Bureau – BBB  Non-profit that collects information on businesses and handles complaints  Federal Trade Commission – FTC  Enforces laws about business practices  US Department of Agriculture – USDA  Inspects food - grade labels  Food and Drug Administration – FDA  Approves drugs and food “ claims ”  Better Business Bureau – BBB  Non-profit that collects information on businesses and handles complaints