Commerce
Study notes for commerce.
Consumer choice
Comparison shopping
* Impulse buying means buying something without giving much thought to whether you really need it. * A retailer is a person or business that sells directly to the consumer * Comparison shopping is shopping around to find the best deal * If there is a lot of difference in the prices, the cheapest product may not always be the best because it may be not last as long as the expensive product
Retail stores
* Convenience stores: They sell a variety of products, magazines and newspapers. * Speciality stores: Hairdressers, newsagents and gift shops are examples. Specialise in one type of product * Department stores: Myer and David Jones are examples. They sell a large range of products * Discount variety stores: K mart, Target, Big W is examples. Basic customer service. * Supermarkets: They sell food items. Examples are Woolworths, Aldi, and Coles * Internet shopping
Buying locally, regionally, interstate, and globally
* Locally: Local store will be used by consumers who live nearby. People travelling to and from school or work often shop here. * Regionally: Westfield shopping centre is a large regional shopping complex. They provide plenty of parking. * Interstate: Mail order is used to purchase goods from another state.
Key factors affecting consumer decisions:
* Service * Price * Convenience * Age * Marketing * Gender * Finance * Environmental
Elements of a contract * Offer: It involves one of the parties offering something of value to the other party. * Acceptance: An acceptance occurs the offeree agrees to the proposal. This involves a written or an oral statement. * Consideration: This stage requires each party to give up something of value. Consideration can take the form of a sum of money being paid.
Scams * Referral selling: This technique offers the consumer a special
Consumer choice
Comparison shopping
* Impulse buying means buying something without giving much thought to whether you really need it. * A retailer is a person or business that sells directly to the consumer * Comparison shopping is shopping around to find the best deal * If there is a lot of difference in the prices, the cheapest product may not always be the best because it may be not last as long as the expensive product
Retail stores
* Convenience stores: They sell a variety of products, magazines and newspapers. * Speciality stores: Hairdressers, newsagents and gift shops are examples. Specialise in one type of product * Department stores: Myer and David Jones are examples. They sell a large range of products * Discount variety stores: K mart, Target, Big W is examples. Basic customer service. * Supermarkets: They sell food items. Examples are Woolworths, Aldi, and Coles * Internet shopping
Buying locally, regionally, interstate, and globally
* Locally: Local store will be used by consumers who live nearby. People travelling to and from school or work often shop here. * Regionally: Westfield shopping centre is a large regional shopping complex. They provide plenty of parking. * Interstate: Mail order is used to purchase goods from another state.
Key factors affecting consumer decisions:
* Service * Price * Convenience * Age * Marketing * Gender * Finance * Environmental
Elements of a contract * Offer: It involves one of the parties offering something of value to the other party. * Acceptance: An acceptance occurs the offeree agrees to the proposal. This involves a written or an oral statement. * Consideration: This stage requires each party to give up something of value. Consideration can take the form of a sum of money being paid.
Scams * Referral selling: This technique offers the consumer a special