Unit 2 Week 1-Consumer Services

Ethics in consumer services

• Honesty (no hidden fees)

• Transparency (clear policies, labels)

• Confidentiality (protecting your data)

• Deceptive advertising practices

Financial

• A consumer service that helps manage money.

• A type of investment that guarantees returns.

• A method of budgeting for personal expenses.

• A service that provides loans to businesses.

stress

• Consumer services can add to or reduce stress.

• Consumer services always reduce stress.

• Consumer services have no effect on stress.

• Consumer services only add to stress.

want

• make life easier or more enjoyable (streaming, fast food, luxury upgrades)

• to avoid responsibilities and obligations

• to seek knowledge and understanding

• to achieve personal goals and ambitions

money

• save or spend money; DoorDash vs. cooking at home

• investing in stocks and bonds

• saving for retirement

• using credit cards for purchases

Retail

• Consumer services that sell products directly to consumers.

• Services that provide goods to businesses for resale.

• Online platforms that facilitate auctions and bidding.

• Wholesale distribution of products to retailers.

Red Flags in Consumer Services

• Hidden or surprise fees

• Excellent customer service

• Clear and straightforward ads

• Easy cancellation and return policies

need

• essentials for daily life (food, shelter, transportation, health, safety, basic communication)

• luxuries that enhance comfort and pleasure

• items that are optional for a comfortable lifestyle

• services that are not necessary for survival

Consumer Services

• Businesses or organizations that meet people’s everyday needs and wants.

• Companies that provide financial services to consumers.

• Organizations that focus on manufacturing goods for consumers.

• Entities that offer legal advice and representation to individuals.

Retail Examples

• Grocery Stores

• Electronics Stores

• Furniture Stores

• Bookstores