Identify and describe a local or online store you often shop at. Include a picture if you like. Describe two ways the store uses behavioral economics to encourage you to spend more time, return frequently, and spend more money there. Cite at least one theory discussed in this course for each strategy identified. If you were a consultant for this store, suggest one way they could increase sales using behavioral economics concepts discussed in this course. (Optional: Suggest it to the owner. How do they respond?) Critique your past spending decisions at this store. Suggest a decision-making process that could guide you to spend more wisely there in the future.
Identify and describe a local or online store you often shop at. Include a picture if you like. Describe two ways the store uses behavioral economics to encourage you to spend more time, return frequently, and spend more money there. Cite at least one theory discussed in this course for each strategy identified. If you were a consultant for this store, suggest one way they could increase sales using behavioral economics concepts discussed in this course. (Optional: Suggest it to the owner. How do they respond?) Critique your past spending decisions at this store. Suggest a decision-making process that could guide you to spend more wisely there in the future.
Chapter8: Business Markets And Buying Behavior
Section: Chapter Questions
Problem 1DYMP
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- Identify and describe a local or online store you often shop at. Include a picture if you like.
- Describe two ways the store uses behavioral economics to encourage you to spend more time, return frequently, and spend more money there. Cite at least one theory discussed in this course for each strategy identified.
- If you were a consultant for this store, suggest one way they could increase sales using behavioral economics concepts discussed in this course. (Optional: Suggest it to the owner. How do they respond?)
- Critique your past spending decisions at this store. Suggest a decision-making process that could guide you to spend more wisely there in the future.
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