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11 Examples of Consumer Education

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Consumer education is education that prepares individuals to participate in markets as an informed consumer. The following are illustrative examples.

Financial Literacy

Financial literacy, particularly in areas that are relevant to consumers such as credit, interest rates, savings and investment. For example, modeling the costs of high interest loans and credit cards.

Market Economics

The basic economics of markets. For example, an overview of information asymmetry whereby sellers often have much more information about a product, service or asset than the buyer.

Behavioral Economics

Behavioral economics including the common behaviors of consumers and firms. For example, irrational purchases driven by a fear of missing out or decision fatigue.

Pricing

An overview of common pricing practices such as price discrimination whereby sellers try to sell at a higher price to consumers with low price sensitivity.

Quality

The factors that influence the quality of products and services. For example, comparing the safety characteristics of different bicycle helmets.

Cost

Modeling the total cost of ownership of products and services. For example, a cheap printer that constantly needs expensive cartridges versus an ink tank printer that has a higher purchase cost but far lower operational cost.

Consumer Protection

An overview of consumer protection laws, consumer rights and fair commercial practices. For example, when you have the right to return an item or cancel a contract without penalty.

Health, Safety & Wellness

Special attention may be paid to products that influence health, safety and wellness such as the nutritional value of food products.

Media & Consumers

A critical look at advertising and media promotion of products and how this influences consumers.

Consumer Society

Social aspects of consumerism. For example, a brand that represents social status such that it sells products and services with very high profit margins. This represents commoditization of the human experience whereby products and services try to serve needs that were once non-commercial.

Ethical Consumerism

Investigating the impact of purchases on people and planet.
Overview: Consumer Education
Type
Definition
Education that prepares individuals to participate in markets as a informed consumer.
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Consumer Economics

The definition of consumer economics with examples.

Consumer Sovereignty

The definition of consumer sovereignty with examples.

Consumer Economy

An overview of the consumer economy with examples.

Final Goods

The definition of final goods with examples.

Goods Examples

A list of goods by type.

Goods And Services

An overview of goods and services with examples.

Personal Items

A list of common personal items.

Brown Goods

The definition of brown goods with examples.

Economic Context

An overview of economic context with examples.

Consumer Attitudes

An overview of consumer attitudes with examples.

Consumer Issues

An overview of consumer issues with examples.

Consumer Behavior

A list of consumer behaviors.

Conspicuous Conservation

An overview of the term conspicuous conservation.

Customer Motivation

A list of common customer motivations.

Customer Needs

A list of common types of customer needs with examples.

Customer Preferences

Common types of customer preferences.

Information Cascade

A definition of information cascade with examples.

Impulse Buying

A definition of impulse buying with examples.

Problem Recognition

The definition of problem recognition with examples.

Customer Persona

The definition of customer persona with complete examples.

Consumer Culture

The definition of consumer culture with examples.
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