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.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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  1. Identify and describe a local or online store you often shop at. Include a picture if you like.
  2. 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.
  3. 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?)
  4. 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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