MGCC - Influencing Buying Decisions Lesson

Influencing Buying Decision

Introduction

 

Making Wise Choices

What do you have in common with your neighbor, your grandparents, and professional athletes? You are all consumers! As a consumer, you have many choices about what to buy, when to buy, and how to buy. Each year, teenagers spend billions of dollars on clothing, athletic equipment, music, and other items. After studying in this module, you will be better prepared to make wise decisions about spending money on items, brand names, and services related to physical fitness and health.

 

Explore

What influences your buying decisions?
Influence of Peers
You have probably been influenced by your friends when buying certain items or name brands. It is natural and fun to follow the crowd, but it is important to be sure what you're buying is the best for you.
Influence of Habit
Buying decisions are often influenced by buying habits. You might think that other brands are inferior if you have the habit of buying name-brand items. You could be missing excellent bargains if you shop at only one store.
Influence of Advertising
Advertisements have a powerful influence on buying decisions. Advertisements are found in all types of media that surround you everyday. Ads can help you learn about sales or introduce new products, but ads can also be misleading or cause you to buy a product you do not need.
When buying on item, ask yourself:
-Am I getting the best value for my money?
- Am I spending twice as much money for a name-brand item? - Am I buying a fad item that is popular today but will soon be out?
- Do I need this item? Can I reasonably afford this item?

 

Challenge 

Self-reflection – After learning more about factors that influence your buying decisions, think back to the last couple of purchases you have made. Did your peers, habits, or advertisements influence what you bought? After learning about these factors, would you still have bought the item? 

 

 

Reflection...

Many factors have an effect on what we choose to purchase. Your peers, habits, and advertisements all influence our buying decisions. Each year, teenagers spend billions of dollars on clothing, athletic equipment, music, and other items. It is important to be aware of and be able to recognize factors that influence how you spend your money.

What Is Your Takeaway? 

    

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