Planned Buying

Objectives: The objectives of the planned buying assignment are to: (1) gain an understanding of the procedures necessary to make wise decisions when shopping for durable goods, (2) become familiar with sources of information about consumer goods, and (3) utilize the consumer decision-making process.

Directions: Demonstrate your ability to apply the planned buying process (course objective #7) by completing and submitting this worksheet. This worksheet must be submitted to Canvas as a Word document (.doc or .docx). You will select a product and go through the planned buying process as if you were making a purchase of the product. DO NOT DO a car/vehicle, cell phone/smartphone/iPhone, television, tablet, laptop, or headphones.

You must submit the assignment before the deadline. The assignment will close at the deadline and you will not be able to submit after that time.

1. Select and identify a product to purchase (if there’s nothing you need right now, think of something you will need in the next 3-5 years), such as a freezer-on-bottom refrigerator or blu-ray DVD player. The product you choose must be available in Consumer Reports, which you can access for free through the library website. Again, do not select a car/vehicle, cell phone/smartphone/iPhone, television, tablet, or laptop. You are responsible for making sure the product you select is available in a Consumer Reports article before starting the assignment. (0.5 point)
    Product:
2. Identify and rank 6 features you are looking for in the product. For example, if I’m purchasing a microwave, I may specify that I want a microwave that is less than 24 inches wide, is stainless steel, is energy efficient, and has a high rating in Consumer Reports. (0.5 point)
(a)

(b)

(c)

(d)

(e)

(f)

3. Find a Consumer Reports article on your product, such as ratings and tips for purchasing the product. Upload a PDF of the Consumer Reports article that includes your product. The article must be from the past few years (2015 to present date). The library website allows you to download and save the article as a PDF. You must upload the file in Canvas – do not provide a link. (2 points)
4. What are the four highest rated models of your product in Consumer Reports? (1 point)
(a)

(b)

(c)

(d)

5. Find a website that provides consumer reviews/rating information on your product. State the source and discuss how the website’s consumer ratings system compares to CR’s rating system. (1 point)
Source, including URL:

Comparison of ratings to CR ratings:

6. Find 3 models of your product online. For example, three models of washers are: Whirlpool Duet 1.0, Bosch Blue Vision 200, and Kenmore 75. You’re not selecting the final product to purchase, just three possible choices based on the Consumer Reports information & other reviews and ratings. (1 point)
    Model #1

Model #2

Model #3

7. Based on the Consumer Reports information and other Internet sources, which model would you choose? Provide three reasons why you chose this model. (1 point)
    Model you chose:

Reasons why you chose this model:     (a)

(b)

(c)

(d)

8. Visit pricegrabber.com (Links to an external site.), www.shopping.com (Links to an external site.), www.google.com/products (Links to an external site.), www.dealcatcher.com (Links to an external site.), and/or other price comparison tools/websites to compare prices on your product. Including tax, shipping, and other fees, what is the highest price (and what store offers that price) and what is the lowest price for the product (and which store)? (1 point)

Lowest Price:
Shipping:
Tax:
Store:
Highest Price:
Shipping:
Tax:
Store:
9. Visit retailmenot.com (Links to an external site.) and/or other websites to find any applicable coupons/discounts for the store you chose and list below. What are 3 benefits and 3 costs of searching for coupon codes to use when online shopping? (1 point)
Discounts:

Benefits of searching for discounts: (a)

(b)

(c)

Costs of searching for discounts: (a)

(b)

(c)

10. For your specific product, list 3 benefits and 3 drawbacks to online shopping versus traditional shopping. Be specific. (1 point)
Benefits: (a)

(b)

(c)

Drawbacks: (a)

(b)

(c)