Flashcards
commerce half-yearly study
Cards in this deck (68)
- 1name and give a breif desrciption of personal decisions affecting the quality of lifefamily: will this impact my family
health: how can i manage my health
education: what subjects do i choose
environmental: impact on the environment
social life: impact on social life
values & beliefs: attitudes towards others - 2name and give a brief desricption of commerical decisions affecting the quality of lifebussiness: to start bussiness?
employment: where to work?
financial: where to put my savings?
legal: how to operate as a company
consumer: should i save or spend? - 3what is comparison shopping? give an examplecomparison shopping is the process of comparing the price and quality of similar products before making a decision on which one to buy.
e.g. apple or samsung - 4what do consumers usually look for/ at when comparison shopping?-prices
-quality
-after-sales services
-safety and relieability - 5give a brief outline of a general (corner) store-small retail outlets that focus on selling everyday convenience items
- usually family or locally owned
- once were very popular but chain supermarkets put them out of bussiness - 6give a brief outline of a supermarket (with an example)-large self-service stores that sell a wide variety of food and other house hold products
- e.g. coles or woolworthes - 7give a brief outline of a department store (with an example)-a retail outlet divided into a number of smaller units, or departments, selling a wide range of goods and services
-goods are arranged by type
-designed to sell more
-e.g. david jones or myer - 8give a brief outline of a discount store (with an example)-offer a range of goods through specific product departments.
-they focus on cut- price promotions and value for money
- cheaper than department stores
-e.g. kmart, big w or target - 9give a brief outline of a catergory killer (with an example)-retail outlets that dominate the sale of one particular product type
- frequently part of larger chains
-e.g. officeworks, bunnings, JB Hi-Fi - 10give a brief outline of an independent specialty store-retail outlets that are owner-operated; managed by their owners
-do not form part of a larger company, owners make decisions - 11give a brief outline of a franchise (with an example)- type of retailing that involves selling the rights of a business name, image or management system
-each franchise is independently owned
- McDonalds, KFC or Hungry Jacks - 12give a brief outline of periodic markets-involves large numbers of sellers in an informal market setting
-temporary shops
-tents selling all different items
-usually for personal profit or small business - 13give a brief example of shopping strips-retail outlets lining the main street of a town or suburb
-doesn't provide parking - 14give a brief outline of planned shopping centers-a wide range of different types of stores under one roof
-provides customers with easy access to car parking
-usually as a few large 'specialty' store to draw people to the center, so they buy things from smaller shops on their way - 15give a brief outline of direct marketing-where goods are sold directly to a customer
-including mail order, telemarketing and door-to-door sales. - 16list reasons why people might choose to shop online-convenience
-price
-all goods and services in one place (convenience) - 17list factors that affect consumer decisions-finance
-price
-marketing
-age & gender
-environmental concerns
-service & convenience
-warranties & after-sales services - 18how is finance a factor that affects consumer decisionsfinance: can I obtain finance to help me make this purchase?
- 19how is price a factor that affects consumer decisionsprice: can I afford this good or service?
what is my budget? - 20how is marketing a factor that affects consumer decisionsmarketing: how is marketing used to lure me as a potential customer?
- 21how are age and gender factors that affect consumer decisionsage and gender: how do my age and gender influence my consumption habits?
- 22how are environmental concerns a factor that affects consumer decisionsenvironmental concerns: what impact does the consumption of this product have on the environment?
- 23how do service and convenience affect consumer decisionsservice and convenience: what in-store service is available?
how easy is it to shop in this way? - 24how do warranties and after-sales services affect consumer decisionswarranty and after-sale service: does this product have a warranty?
what after-sales services are available? - 25what is disposable income or net incomethe amount of money that you have to spend on goods and services.
disposable income= gross income - tax - 26describe the need for consumer protection1.to protect consumers against poor quality
2. to put an end to unethical practices - 27what are the 6 basic elements of a contract- legal object
-possible to perform
-consideration
-legal right
-intention
-offer and acceptance - 28explain the element of legal objectthe purpose of the contract must be legal
- 29explain the element of possible to performit must be possible for both parties to carry out
- 30explain the element of consideration-both parties must benefit from the contract
-benefits do NOT have to be equal - 31explain the element of legal rightpeople have a legal right to enter into a contract
(unless under 18yrs or mentally unfit) - 32explain the element of intentionboth parties must have intended to enter into the legally binding contract.
- 33explain the element of offer and acceptancemust be an offer by one party that accepted by the other party.
- 34what key federal government law which protects consumers rightscompetition and consumer act 2010
administered by the Australian competition and consumer commision (ACCC) - 35what is the aim of the competition and consumer act (2010)to improve the well-being of Australians by promoting competition, fair trade and consumer protection
to protect consumers from unfair increases - 36what issues does the competition and consumer act deal withanticompetitive and unfair practices product safety
conditions and warranties
actions against manufacturers and importers - 37NSW fair trading outlines four important consumer rights, name them-goods should be safe & fit for the purpose for which a good is bought
-to be protected from misleading practices
-info provided with goods must be correct (price, contents and weight) - 38discuss NSW fair trading's aim and roles-to protect consumer rights and provide advice for businesses about fair and ethical retail practices
-ensure transactions between consumers and traders are fair.
-investigates unfair business practices
-checks all employees are qualified - 39what is the consumer, trader and tenancy tribunal (CTTT)an NSW court that aims to resolve disputes mentioned in the name (CTTT)
- 40what are the 8 main matters the CTTT deals with-home building
-residential parks
-motor vehicles
-retirement villages
-tenancy issues
-commercial matters
-consumer issues
-community schemes - 41define consumer sovereigntythe power of consumers to decide which businesses and products survive in the marketplace.
- 42the Australian competition and consumer policy division aims to...protect and promote the power of consumers
(ensure consumer sovereignty) - 43how does the Australian competition and consumer policy division do this-changing consumer protection laws -providing education and information, representing consumers and addressing product safety
-product information standards. - 44the Australian competition and consumer commission (ACCC) handles issues like-anticompetitive and unfair market practices
-mergers or takeovers of companies product safety/liability - 45what is an ombudsmanan independent official who has been appointed to deal with complaints against either government departments or private businesses
- 46when should you contact an ombudsmanif you experience problems in your dealings with a government department
- 47what is the Australian consumers' Association (ACA)a non- profit organisation that aims to provide consumers with information and guidance about goods, services, health and personal finances.
- 48what is consumer redressa consumer complaint
- 49what are the steps of consumer redress1. identify the problem
2. contact business right away
3.contact relevant industry association
4.contact the state government’s consumer affairs department
5.contact conflict resolution service
6. contact a court or tribunal - 50name methods to pay-cash
-direct debits
-cheques
-booking it up
-lay-by
-electronic funds transfer
-EFTPOS - 51changes over time and the impact of technology-online and internet shopping
-introduction of chip technology
-smart cards
-self-checkout supermarkets using new microchip price tags - 52what is product differentiationstrategies used by a seller to show that their product is superior to a competitor’s
- 53identify factors that differentiate products-quality
-service
-convenience
-value for money - 54product promotion techniquesbrand name, logo and packaging − the design, colour and images
advertising − decisions about what forms of advertising will be used
special promotions − 'on special', deals and giveaways
personal selling − phone call, email, etc
publicity- free - 55what is a target marketa specific demographic or social group to which an advertiser wishes to appeal
- 56what is market researchthe gathering of information about the needs and desires of potential consumers
- 57what is niche marketingpromotional campaigns targeting quite small groups of potential customers
- 58what is mass marketingpromotional campaigns targeting a large proportion of the population
- 59what is self regulation-ethical standards and complaint resolution procedures put in place and maintained by an industry group
-carried out by Australian Association of National Advertisers - 60what is a focus groupa group of potential consumers, chosen at random, who give their opinions about a campaign developed to promote a particular good or service
- 61how do companies identify the target marketdo market research and use the information to develop promotional campaigns that reach and engage the targeted market.
- 62what legal and ethical issues are associated with promoting and advertising-discrimination (race, nationality, sex, age, sexual preference, religion, disability or political belief)
-violence
-language
- portrayal of sex, sexuality or nudity
-health and safety
-alarm or distress to children. - 63how often do companies make recordsweekly, monthly, quarterly, six-monthly and an annual basis
- 64how can companies track the sales performance of individual staffpersonal logins by sales staff on computerised cash registers
- 65name a few ways which companies use to evaluate the effectiveness of selling techniques-analysed before, during and after promotion to determine if it is working
-comparing sales of a product to previous years (long-term strategies)
-compared on a store-by-store basis or on a basis of which groups of people are purchasing the product
-consumer surveys - 66what is spammessages, including advertising, received via the internet and which the user has not requested
- 67name some current issues in promoting and selling products-right to privacy
-spam
-telemarketing - 68what is hidden advertisinga form of advertising that we may not be conscious or aware of
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- year 9 commerce Flashcards on commerce half-yearly study, created by chloe smithson on 30/05/2018.
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