Asked by Krysteena Hudson on Jun 08, 2024
Verified
Which of the following supermarket strategies to increase sales would be most consistent with a behavioral economics (versus neoclassical economics) approach?
A) Distributing online coupons.
B) Providing discounts for buying in bulk.
C) Positioning frequently purchased items at the back of the store.
D) Offering price matching with other stores.
Behavioral Economics Approach
A method of economic analysis that applies psychological insights into human behavior to explain economic decision-making.
Online Coupons
Digital versions of traditional coupons that provide a discount or promotion when purchasing goods or services over the Internet.
Price Matching
A policy by which a retailer promises to match a competitor’s lower price on an identical item to attract or retain customers.
- Comprehend the tactics enterprises utilize to sway consumer actions and enhance revenue.
Verified Answer
Learning Objectives
- Comprehend the tactics enterprises utilize to sway consumer actions and enhance revenue.
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