Lesson Overview

In this lesson, learners will peel back the curtain on why we buy what we buy. We will explore the hidden psychological triggers marketers use, the social pressures that guide our wallets, and the practical skills needed to get the most value out of every dollar.

Learning Objectives

• Identify the four major factors affecting consumer choice: Psychological, Social, Economic, and Personal.
• Analyze marketing tactics such as "scarcity," "social proof," and "anchor pricing."
• Calculate unit prices to determine the best financial value between competing products.
• Evaluate a "real-world" purchase using a Wise Shopper Checklist.

Materials Needed

• A smartphone, tablet, or computer with internet access.
• Three different versions of the same product (e.g., three different brands of cereal, or three different pairs of athletic socks—one budget, one mid-range, one "hype" brand).
• A calculator.
• The "Buyer’s Remorse vs. Buyer’s Rejoice" worksheet (or a notebook).
• Access to an online marketplace (Amazon, Walmart, eBay, etc.).

1. Introduction: The $500 Hoodie Hook

The Scenario: Imagine two hoodies. Both are 100% cotton. Both are black. Both are equally warm. Hoodie A costs $25 at a local department store. Hoodie B has a small, specific logo on the chest and costs $500. It is currently "sold out" on the official website but available on resale sites.

Discussion Questions:

• Why would someone rationally choose Hoodie B?
• Is it just about the quality of the fabric, or is something else being "sold"?
• Have you ever bought something because it was popular, only to regret it a week later?

Objective: To realize that consumer choices are rarely just about the product; they are about how the product makes us feel or how we want others to see us.

2. Content & Modeling (I Do): The Invisible Influencers

To be a wise shopper, you have to understand the "Big Four" factors that influence your brain before you even reach for your wallet:

• Psychological Factors: These are "inside jobs." This includes your motivation (need vs. want), your perception of a brand, and your learning from past experiences.
  Example: Using the color red to signal a "sale" triggers an urgency response in your brain.
• Social Factors: These come from the outside. Family, friends, and social media influencers play a huge role. If your favorite YouTuber uses a specific gaming mouse, you are statistically more likely to want it.
• Economic Factors: This is the "math." Your current budget, the price of the item, and whether the item is seen as a "luxury" or a "necessity."
• Personal Factors: Your age, your hobbies, and your values. A 14-year-old spends money differently than a 40-year-old because their lifestyle demands are different.

Teacher/Parent Demonstration: Pick a common item (like a sports drink). Show how the marketing uses Social Proof (showing famous athletes) and Psychology (using words like "Electrolyte Powered" to sound scientific) to justify a higher price than plain water.

3. Guided Practice (We Do): The Ad-Detective Challenge

Let’s look at a popular online storefront together. We are going to find three "Marketing Traps":

1. The Anchor Price: Find an item that says "$100 $49.99." Why is the $100 still there? (Answer: To make $49.99 look like a steal, even if that was always the intended price).
2. Scarcity: Find a tag that says "Only 2 left in stock!" or "Sale ends in 14 minutes!" Is this always true, or are they creating "FOMO" (Fear Of Missing Out)?
3. The Review Filter: Look at the 5-star reviews vs. the 1-star reviews. Which ones provide more specific information? How do brands use "Social Proof" to distract from product flaws?

4. Independent Application (You Do): The "Great Value" Grocery Game

Now it’s your turn to be the Wise Shopper. Use the following steps to evaluate a potential purchase:

Step A: The Unit Price Battle

Find two different sizes of the same snack (e.g., a small bag of chips and a "Party Size" bag).
Formula: Total Price ÷ Number of Ounces/Grams = Unit Price.
Question: Is the bigger bag actually cheaper per ounce? (Often it is, but sometimes the "convenience size" is secretly a better deal on sale!)

Step B: The Feature Matrix

Pick a tech item you want (headphones, a game, a phone case). Find three options:

• The "Budget" option (Low price, few features).
• The "Hype" option (High price, famous brand).
• The "Sweet Spot" option (Mid price, high reviews, lesser-known brand).

Step C: The 24-Hour Rule

Apply the "24-Hour Rule" to the item you want most. Write down:

1. How many hours of work (at minimum wage or your allowance rate) would it take to buy this?
2. Will I still use this in 6 months?
3. Am I buying this because I need it, or because I’m bored/stressed/influenced?

5. Conclusion: Summarizing the Savvy Mindset

Being a wise shopper isn't about being cheap; it's about being intentional. It’s about making sure your money goes toward things that actually bring value to your life, rather than just falling for a clever marketing trick.

Recap Challenge: Can you name the "Big Four" factors we discussed? (Psychological, Social, Economic, Personal). Which one influences you the most when you’re on social media?

Assessment & Success Criteria

Success Criteria

• Learner can explain why the "Unit Price" is more important than the "Total Price."
• Learner identifies at least two marketing tactics in a real-world advertisement.
• Learner can articulate the difference between a "need" and a "want" for a specific item.

Summative Assessment: The "Savvy Buyer's Guide"

Create a 1-page "Buyer's Guide" for a friend who wants to buy their first [Gaming Console / Skateboard / Smartphone]. Your guide must include:

• One "Marketing Trap" to watch out for.
• A comparison of two brands showing which has better value.
• One tip on how to use the "24-Hour Rule."

Differentiation & Adaptations

• For the Math-Focused Learner: Dive deeper into "Opportunity Cost." If you spend $100 on this item today, and instead invested that $100 in a savings account with 4% interest, what would that money be worth in 10 years?
• For the Creative Learner: Design an advertisement for a "boring" product (like a plain grey rock) using the psychological triggers discussed (Social Proof, Scarcity, Status).
• For the Minimalist: Research the "Cost Per Wear" concept. (Total Price ÷ Times Used). Is a $100 coat you wear every day for 2 years cheaper than a $20 shirt you wear twice?