Learning to make informed decisions about buying food will result in economic skills that last a lifetime. In my talk I would like to single out the steps in decision-making.
To understand how buying decisions are made I would advise you to make a shopping list of 10 basic food items, then go to several shops and find out the range of unit cost for each item. To begin with you should consider the first step “What kind?” The variety of a certain commodity in a supermarket is often confusing; there are dozens of different brands. The next step under discussion should be “How much?” After deciding what kind of commodity to buy, consumers generally consider the price. I would like to point out that another consideration figuring into what we buy is the quality of the product, thus I suggest that the next step can be: “How good?” Sometimes evaluating the quality of a product can be difficult for the customer. For instance, most food products list natural as well as artificial ingredients. Some provide nutritional information.
Being a wise consumer is never easy. A wide variety of prices, brands, sizes and advertising gimmicks influence you when you enter a store. Firstly I would advise you to decide what kind of product you need. The occasion or purpose can determine the kind of product you will buy. If you know that your friend, who loves apple juice, is coming to visit you, you might want to get some for her. Eventually there are many things that influence what you buy. I would like to attract your attention to the point that some stores indicate the unit price for the items on the shelves. Please take into consideration that although quality or kind of a product contributes to the price, generally the larger the quantity, the less per unit cost. Buying in quantity can often help us spend less.
At the same time there is one more very important factor influencing buyer’s decision – advertising. You can trust brands that have been around for a long time but maybe you want to try a newcomer. Also the consumer’s decision is a matter of personal taste. In the end, the decision what to buy and at what price and quality level is a personal one.
Still, let’s assume that we are smart consumers and know how to use advertising for our purposes. My personal opinion is that ads are usually one-sided and emphasize only the good qualities of a product. You probably know how ads try to attract consumers by appealing to their emotions. For example, a chocolate ad shows people tasting a delicious bar of milk chocolate with an immense pleasure; diet bread ad shows thin people playing at the beach, and so on and so forth.
In conclusion I’d like to stress that many factors influence buying decisions, and choices are not simple for consumers. It’s absolutely true that smart buyers must obtain product information and then compare and evaluate that information.
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