Commere and Choice Flashcards
Supermarkets
Self-serve stores that sell a wide variety of food and household items.
Corner/General stores
Small retail outlets that focus on selling everyday convenience items.
Department stores
Elaborate displays and provide entertainment and gift wrapping.
Discount stores
Offer a range of goods. Cheaper than department stores.
Category killers
Retail outlets that dominate the sale of a particular product.
Independent specialty stores
Owner operated retail outlets.
Periodic markets
Large numbers of sellers in an informal market setting.
Franchises
A type of retailing that involves selling the rights to use a business name or image.
Shopping strips
Retail outlets lining the main street of a suburb.
Planned centres
A large variety if stores under one roof.
Non-store retail
- Mail order
- Internet shopping
- Vending Machines
What are the advantages/disadvantages of internet shopping?
- Scams
- Pay for postage
- No travel involved
Ethics
The standards of conduct and moral judgement that society expects of individuals and organisations.
Key factors affecting consumer decisions.
- Convenience
- Marketing
- Gender
- Age
- Price
Ethics: Some people need to be careful…
E.g. Consumers whose first language isn’t English may not understand documents.
Tips for consumers:
- Never share personal info online
- Check a company’s return policy
- Make sure you’re using a safe site
Features of a simple contract:
- Offer
- Acceptance
- Consideration
Ombudsman
Someone who has the task of investigating complaints.
Federal government organisations that assist consumers:
- Australian securities and investment commission (ASIC)
- Australian competition and consumer commission (ACCC)
Consumer redress
Consumers are entitled to seek remedy if a good is:
- faulty
- doesn’t do what you were told it would do
- or if a service was not carried out with skill and care
Steps a consumer can take to seek redress:
- Identify the problem
- Gather receipts
- Go to the store or call
- Get refund/exchange
Changes overtime and the impact of technology
- Barter
- Money
- Self-serve tech
- Phone tech
- Internet shopping + banking
Barter
A system of swapping one good for another which was used before money was invented.
Money
Money was invented because using bartering was difficult to determine the value of goods.
Self-serve tech
Less need for workers as people can complete the checkout process themselves.
EFTPOS
Electronic Funds Transfer Point Of Sale
Direct marketing
The business of selling products or services directly to the public, e.g. by mail order or telephone selling.
Book-up
Make a reservation for.
Example of unconscionable conduct:
- Not allowing sufficient time to read an agreement
- Not properly explaining the conditions of a contract to a person they know does not speak English
Caveat emptor
“Let the buyer beware”
Phone tech
This has changed the way that people can shop. E.g. Scanning barcodes on phones
Target market
A group of customers that the business has decided to aim its merchandise towards.
Impulse buying
The buying if goods without planning to do so in advance.
