Leaving Certificate Business Notes: People in Business & Contract Law

Keywords: Leaving Certificate study notes, Leaving Certificate Business Studies notes, people in business, contract law, business studies, legal principles, contract formation, business ethics, legal obligations, case studies, business regulations.

Key Lessons

• Understanding Consumer Choice: Consumer decisions are influenced by factors such as income, advertising, cultural values, personal preferences, and the availability of goods and services.

• Types of Retail Outlets: Supermarkets, discount stores, and chain stores offer different shopping experiences, product ranges, and pricing strategies to meet diverse consumer needs.

• Consumer Protection Laws: Laws like the Sale of Goods and Supply of Services Act and the Consumer Protection Act ensure goods and services are of high quality, accurately described, and safe for use.

• Retail Psychology: Marketing techniques such as loyalty programs, product placement, sensory cues, and special pricing are designed to influence consumer behavior and increase sales.

• The Importance of Consumer Research: Businesses use field and desk research to understand customer preferences, improve products, set competitive prices, and attract their target market.

Important Takeaways from Leaving Certificate Business Studies: Consumer Studies – Consumer Choice"

• Key Influences on Consumer Choice: Factors like income, cultural values, advertising, personal preferences, and product availability significantly impact consumer decision-making.

• Variety of Retail Outlets: Supermarkets, chain stores, and discount retailers offer diverse shopping experiences, product ranges, and pricing options to suit different consumer needs.

• Consumer Protection Laws: Legislation such as the Sale of Goods and Supply of Services Act safeguards consumers by ensuring products and services are high-quality, accurately described, and fit for purpose.

• Retail Psychology Techniques: Strategies like loyalty programs, discounts, and sensory marketing (e.g., music and smells) are designed to influence purchasing decisions and enhance sales.

• The Importance of Consumer Research: Businesses use consumer research to understand preferences, improve products, set competitive prices, and effectively target their audience.

Keywords: Leaving Certificate study notes, Leaving Certificate Business Studies notes, people in business, contract law, business studies, legal principles, contract formation, business ethics, legal obligations, case studies, business regulations.