unit 1
Download
Skip this Video
Download Presentation
Unit 1

Loading in 2 Seconds...

play fullscreen
1 / 27

Unit 1 - PowerPoint PPT Presentation


  • 122 Views
  • Uploaded on

Unit 1. Chapter 1 Lesson 1. Needs VS. Wants. Needs would be defined as goods or services that are required in order to live . Ex. food, water, air, clothing, shelter, health care. Needs VS. Wants. Wants are goods or services that are not necessary but that we desire or wish for .

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Unit 1' - awena


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
unit 1

Unit 1

Chapter 1

Lesson 1

needs vs wants
Needs VS. Wants
  • Needs would be defined as goods or services that are required in order to live.
  • Ex. food, water, air, clothing, shelter, health care.
needs vs wants1
Needs VS. Wants
  • Wants are goods or services that are not necessary but that we desire or wish for.
  • For example, one needs clothes, but one may not need name brand clothes.
  • One does not need toys, entertainment, gems, etc…again these are wants!
differing needs and wants
Differing needs and wants…
  • Age
  • Culture
  • Gender
  • Community
  • Era/Time
  • Income
  • Values
  • Personality
  • Etc., Etc..
  • Just like each one of us is different from each other…so too are our needs and wants!!
q why is this important
Q. Why is this important?

A.

  • Your needs and wants…
  • provide businesses with opportunities to make a profit…
  • by providing goods and services…
  • that fulfill your NEEDS & WANTS
what about you
What about you?
  • You are the “CONSUMER”
  • A consumer is a person (business or organization) who buys and uses goods and services…
  • which essentially fulfill our needs and wants!
trends fads
TRENDS & FADS
  • A trend is the direction in which society in heading…
  • The way things are going to be…
  • For a LONGGGGG time!
  • Ex. Computerized, faster, smaller, high gas prices.
  • Trends will influences what people need and want…what they will buy.
trends illustrated
TRENDS illustrated…
  • How could higher gas prices affect consumer purchasing and habits?
    • Buy smaller cars
    • Car pool
    • Walk or bike
    • Alternative energy cars
name some other trends
NAME some other trends!!
  • Higher education
  • Environmental awareness
  • Leisure time
  • Personal Appearance and wellness
  • 2 income families
  • More….
trends fads1
TRENDS & FADS
  • A FAD is short term phenomenon in which something quickly catches on and “dies out” almost as quickly.
  • Most fads deal with personal expression, toys, music, fashion
  • Ex… name some!!!
  • FADS too will influences what people need and want…what they will buy.
fads illustrated
FADS illustrated
  • Name the latest Video Game System
  • Now name the systems that are no longer popular…that are now “out-dated” or no longer ”IN”.
  • Q. How does FADS affect business and consumers?
maslow s theory
Maslow’s Theory
  • humans are motivated to satisfy their needs according to a hierarchy (a ranking order).
  • He used his hierarchy to illustrate how people are motivated to satisfy their most basic physical and safety needs first.
  • Once those needs are filled, Maslow said, people will be motivated by their higher needs for love, esteem, and, finally, self-actualization.
maslow and business
Maslow and Business
  • What does Maslow’s Theory have to do with business or consumers?
  • Ex. Advertising and how businesses try to “APPEAL” to certain types of needs.
  • Ex. Consumer purchases of lower level, higher priority needs FIRST.
what is business
What is Business?
  • Any place that sells goods or services…
  • that satisfy needs and wants…
  • in order to earn a profit.
business is everywhere
Business

Business

Business

Business

Business is EVERYWHERE!!!

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business

Business is a major and influential part of Canadian society. Everyone is involved in the business world to some extent.

interdependence
Interdependence

Needs & Wants

Producers

Consumers

Goods & Services

some definitions
Some definitions
  • Producers: businesses that create finished goods or provide services.
  • Goods: are any physical item that you purchase, possess and use. Examples please…
  • Services: are any helpful action performed in exchange for pay. Examples please…
the interdependence
The “Interdependence”
  • Explain the interdependent relationship between consumers and producers.
  • Consumers have needs and wants. They NEEDproducers (businesses) to fulfill these needs and wants.
  • Hence business create goods and provide services.
  • At the same time, producersNEEDconsumers to buy their goods and services.
the interdependence1
The “Interdependence”
  • Can you name other types of interdependence in the world of business?
  • Ex. Business – Business, Business - Workers
producers a closer look
Producers…a closer look.
  • 2 groups of producers:
    • Manufacturer
    • Supplier
  • Manufacturer is the actual company that makes the finished good. Ex. NIKE makes or manufactures NIKE footwear and clothing.
  • Supplier is the business that makes the finished goods available to the consumer. Ex. Walmart, Canadian Tire and Athlete’s World.
  • NIKE does not sell directly to the end consumer. They sell to other businesses.
goods consumers a closer look
Goods & Consumers…a closer look.
  • 2 types
    • Consumer goods & the End Consumer
    • Business-to-business goods & Business–to-business consumers
consumer goods the end consumer
Consumer goods & the End Consumer
  • Consumer Goods are items purchased by consumers and used for personal use…
  • The person who purchases a product for their own use is called the end consumer or ultimate consumer.
  • Ex. A toaster to use at home.
business to business goods business to business consumers
Business-to-business goods & Business–to-business consumers
  • Business–to–business goods are items purchased by businesses to use in the business or in other products. Also called producer goods.
  • Businesses that buy goods to use in their own products or in operating their business is referred to as a business-to-business consumers or industrial consumers.
  • Ex. A restaurant purchases a toaster to make toast for breakfast for its customers.
the market
The Market
  • Market is any place where buyers (consumers) and sellers (producers) meet to make an exchange and do business.
    • Consumer Markets
    • Business-to-business Markets

Examples of each???

demand
Demand
  • Demandrepresents the consumer side of the market.
  • Consumer demand for a product is directly related to price.
  • Generally speaking, consumers are willing to buy more of a good or service when the price is low.
ad