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46 Cards in this Set

  • Front
  • Back
PYRAMID SCHEME
people pay to join an organization in exchange for selling memberships
FTC
protects consumers form unfair or decpetive business practices
Free Market Economy
people own resources and run businesses not gov
USDA
sets safety standards for any consumer product
You should inclue the names of the people you have spoken with in your complain process
Give a time frame in which you need the problem solved
PYRAMID SCHEME
people pay to join an organization in exchange for selling memberships
FTC
protects consumers form unfair or decpetive business practices
Free Market Economy
people own resources and run businesses not gov
USDA
sets safety standards for any consumer product
**You should include the [names] of the people you have spoken with in your complaint process
**Give a [time frame] in which you need the problem solved
State your [demand] for satisfaction in paragraph 3
*In paragraph one, include the [date] purchased and [method] of payment
*It's easy to [compare] prices when internet shopping
When explaining the problem with your purchase in paragraph 2, use [chronological] order of your attempts to correct the situation
*Size or color may vary form the picture in a catalog/magazine
*regularly updated merchandise and the ability to order directly with a credit card are advantages of internet shopping
FDA
insures businesses safely dispos eof hazardous waste produced during manufacturing
monopoly
a market in which there are many buyers but one seller
retail store
sell to the public at full price
discount store
sell to public at lower price (tj max)
specialty store
sell items that are related to each other (hallmark)
Department store
variety of items
Consumer Cooperative
cooperate business owned by its customers for their mutual benefit
Telemarketer
method of direct marketing to solicit people to buy products/services
buying incentive
motivates the purchase of an item (discount, gift, BOGO) to bring customers to store
warranty
manufactored: lasts for a specific amount of time

implied: unwritten guarantee

extended: pay extra
trading up
pressured to buy something expensive more than intended
loss leader
an item priced below cost by retailer to attrat you to store, the retailer will lose money if you buy only that item
better business bureau
organization protecting the rights of the consumer and making sure that businesses aren't abusing their rights as a business
federal trade commission
an agency whose purspose is to encourage free enterprise and prvent restraint of trade and monopolies
limited and full warranty
written statement that spedcifies under what conditions to what extent, and for how long the manufacturer of an item guarantees that it will work as clamed
how to comparison shop
judge whteter the itme in different stores/websites are of good quality and reasonable price
CONSUMER BILL OF RIGHTS
1. Right to Safety

Consumers should be protected against goods that are hazardous to health or life
CONSUMER RESPONSIBILITIES
1. Responsibility to Use Products Safety

Consumers should use products as they were intended.
CONSUMER BILL OF RIGHTS
2. Right to be Informed

Consumers should be protected against misleading/fraudulent ads. They should be given the facts needed to make informed choices.
CONSUMER RESPONSIBILITIES
2. Responsibility to use information

Consumers should look for info about products
CONSUMER BILL OF RIGHTS
3. Right to choose

Consumers should be assured access to a variety of goods and services at competitive prices
CONSUMER RESPONSIBILITIES
3. Responsibility to Choose Carefully

Coinsumers should use their buying power intelligently
CONSUMER BILL OF RIGHTS
4. Right to be Heard

Consumers should be assured that their interests will be considered in the making of laws
CONSUMER RESPONSIBILITIES
4. Responsibility to Express Satisfaction or Dissatisfaction

Let officials know their opinions
CONSUMER BILL OF RIGHTS
5. Right to Redress

Consumers are entitled to fair remedies for consumer problems
CONSUMER RESPONSIBILITIES
5. Responsibility to Seek Redress

Let businesses known when their products and services don't measure up to expectations
CONSUMER BILL OF RIGHTS
6. Right to Consumer Education

Consumers should be taught about the market system
CONSUMER RESPONSIBILITIES
6. Responsibility to be an Educated Consumer

Take advantage of opportunity to develop consumer skills
CONSUMER BILL OF RIGHTS
7. Right to a Healthy Environment

Stores should be of clean air and atmosphere
CONSUMER RESPONSIBILITIES
7. Responsibility to Contribute to a Healthy Environment

Keep environment free of smoke or waste/litter
INCENTIVES/PROMOTIONS
add value to the purchase by attracting consumers to the store to buy the sale priced items along with reguler pr
SLOGANS
short phrases that constain the entire msg on an ad
LOGOS
pictures/symbols representing a company
BEAUTY APPEAL
drawn to beautiful people
TESTIMONIAL/CELEBRITY
by buying a certain product consumers think they'll have the qualities of that celebrity
ESCAPE
adventure-like scenes
LIFESTYLE
particular style of living
PEER APPROVAL/BANDWAGON
make people worry that they will not be well liked if they don't use a certain product
REBEL
oppose society's norms
UNFINISHED COMPARISON
convincing but empty