Chapter 22: Making Consumer Decisions

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brand names

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15 Terms

1

brand names

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

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2

Comparison shopping

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

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3

Superstores

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

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4

Consumers

________ must make many decisions about buying goods and services.

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5

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.

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6

Impulse buying

________ is the act of making unplanned purchases.

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7

Warehouse stores

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

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8

Loss leaders

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

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9

Convenience stores

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

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10

Department stores

________ sell a wide variety of goods.

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11

Clearance sale

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

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12

Generic products

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

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13

Comparison shopping

________ is an important factor in buying products or services.

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14

Consumers

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

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15

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

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

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