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Slides for midterm exam 2
Slides for midterm exam 2

... 1. When would you “buy” instead of “rent”? 2. How much are you willing to pay to buy? 3. When would you “rent” instead of “buy”? 4. Where would you go to “buy” or “rent”? 5. “People can be conditioned to buy just about any movie they want to see if it is priced low enough.” Warner Home Video Chief “ ...
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... product is not sensitive to a change in price. These products are usually considered necessities to the customer. For example: gasoline, milk, bread, and electricity Economic conditions: Economic health affects price by affecting consumer buying power. Consumers who experience changes (positively or ...
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Retail



Retail is the process of selling consumer goods and/or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers' wants and needs through a lean supply chain. In the 2000s, an increasing amount of retailing is done online using electronic payment and delivery via a courier or postal mail.Retailing includes subordinated services, such as delivery. The term ""retailer"" is also applied where a service provider services the needs of a large number of individuals, such as for the public. Shops may be on residential streets, streets with few or no houses, or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Online retailing, a type of electronic commerce used for business-to-consumer (B2C) transactions and mail order, are forms of non-shop retailing.Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.
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