Chapter 22: Making Consumer Decisions

brand names

Off- price and outlet stores carry well- known ________ at bargain prices.

Comparison shopping

________ is comparing the prices and the characteristics of competing brands or stores.

Superstores

________ are like supermarkets but sell items such as books, hardware, sporting goods, and clothing as well as groceries.

Consumers

________ must make many decisions about buying goods and services.

Warranty

A(n) ________ is a written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired.

Impulse buying

________ is the act of making unplanned purchases.

Warehouse stores

________ carry a huge selection of food and nonfood items at low prices and in bulk quantities.

Loss leaders

________ are advertised products that sell at a loss to bring customers into a store.

Convenience stores

________ provide easy access to products that consumers often buy as necessities or impulse items.

Department stores

________ sell a wide variety of goods.

Clearance sale

A(n) ________ is a sale to clear out goods that are going out of season or are no longer profitable.

Generic products

________ are plainly labeled, unadvertised products that are sold at lower prices than brand- name goods.

Comparison shopping

________ is an important factor in buying products or services.

Consumers

________ can shop at home through TV channels, catalogs, or the Internet.

There are three factors that affect a consumers decision on where to shop

the kinds of goods and services sold, prices, and convenience