Step 1 :(Identify needs & wants) I need a car, but I want a Lamborghini.

Step 2:(Know the choices available) I could buy a cheaper- used version, or the new one. I could buy it in red, or black. Etc.

Step 3:(Determine desired satisfaction) I want good quality, but I’m not willing to pay a big amount.

Step 4:(Evaluate alternatives) I’m going to have to buy a used car.

Step 5:(Make the decision) Purchase a

cheaper – used car.

Step 1 :(Identify needs & wants) I need a cell phone, but I want an I-phone.

Step 2:(Know the choices available) I could by a cheaper phone, use my moms old phone, or buy the new I-phone

Step 3:(Determine desired satisfaction) I’m not willing to pay for the I-phone, but I do not want my mom’s old phone.

Step 4:(Evaluate alternatives) I could save my money and buy it later or buy a new, cheaper phone now.

Step 5:(Make the decision) Buy a cheaper phone.

Three examples of a Discount Store are:

- K-Mart- Target- Wal-MartDiscount Store is a type of department store which

sell products at prices lower than those asked by traditional retail outlets.

A department store is a retail establishment which specializes in selling a wide range of products without a single predominant merchandise line.

-Examples of this are: Macy’s, Dillard's, Belk

Specialty stores have a special line of products for sale; they carry a wide variety of products in a narrow line such as jewelry or shoes.

Examples: Tiffany’s Jewelry, DICKS sporting goods.

Impulse spending is buying something too quickly with little effort. Impulse buying should be avoided; a good way to do this is to make a shopping list.

I make several impulsive – decisions when shopping, whether is be clothes, jewelry, or food.