Consumer Market And Society

PREVIOUS KNOWLEDGE: The students have learnt about types of business organization .

MAIN AIM: to help the students understand the meaning of consumer, market and society.

SUBSIDIARY AIMS: By the end of the lesson, the Students should be able to:

1. Meaning of a consumer

2. Meaning of a customer

3. Meaning of market

4. Meaning of Society

5. Need for Consumer Education

6. Importance of consumer Education

7. Consequences of lack of Consumer Education

PERSONAL AIM: to assist the students understand the importance of consumer education. 

ASSUMPTION: the students are familiar with chains of distribution.

ANTICIPATED PROBLEMS: the student may not be conversant with the relationship between consumer, customer and market.

POSSIBLE SOLUTION: Teacher explains the meaning of consumer, customer and market.

TEACHING AIDS:  Junior Secondary Business Studies (WABP).

INTERACTION PATTERN: individual

STEP1: Who Is A Consumer?

A consumer is a person or group of people who buys and uses a product or service at a particular time. A consumer is the end user of a product and this is the one who completes the process of production.

MEANING A CUSTOMER

A customer is a regular buyer of a product or service who has established a sustainable relationship with the seller or producer of a product.

MEANING OF MARKET

A Market is a place where buyers and sellers are in contact with one another to buy or sell goods and services.

It is a means by which buyers and sellers are brought in contact with one another. It could either be face to face, through letters or any other communication medium.

MEANING OF SOCIETY

Society is a group of people living together in organized, communities with laws and traditions, controlling the way that relates and behaves towards one another.

STEP2: Need for Consumer Education

It is of great importance to educate the consumers because they are most vulnerable, sometimes the producer produces less standard products and sells to the consumers, so as to be enlightened, there is a need for Consumer education.

The following are the needs for consumer Education in Nigeria

• To protect consumers from falling victims of fraudulent and bad producers

• To encourage consumers to report to the appropriate government agency when necessary

• To create a healthy and cordial relationship

• To enable consumers to be aware of products or services that are standard and fit for consumption

• To enable the consumers know their rights and obligations

Consequences of Lack of Consumer Education

• It can encourage producers to supply poor quality products

• It will lead to consumer not getting the right satisfaction from the product purchased

• It can lead to consumer entering into false agreement with producers

• It makes consumer ignorant

EVALUATION:

1.  Who is a consumer?

2. Who is a customer?

3.  Explain the meaning of market

4.  Explain the meaning of Society

5. Explain the need for Consumer Education

6. List the Importance of consumer Education

7. What are the likely Consequences of lack of Consumer Education?

SUMMARY:

1. Society is a group of people living together in organized, communities with laws and traditions, controlling the way that relates and behaves towards one another.

2. A Market is a place where buyers and sellers are in contact with one another to buy or sell goods and services.

3. A consumer is a person or group of people who buys and uses a product or service at a particular time. A consumer is the end user of a product and this is the one who completes the process of production.

ASSIGNMENT:

Define the following;

1. a.   Consumer

   b. customer

   c. market

  d. Consumer Education

2.  Explain the meaning of Society

3. List three Importance of consumer Education

7. List two Consequences of lack of Consumer Education

Teacher Evaluation: ­­­­_______________________

CONCLUSION