Define Autonomy (As a Psychological Need)

question 14

Essay

Define autonomy (as a psychological need).
Discuss how it relates to
(a)intrinsic motivation and
(b)extrinsic motivation.

Comprehend the different strategies retailers use to attract and retain customers.

Identify the types of retail formats and their relative advantages.

Recognize the importance of merchandise management and the role of merchandisers.

Understand the significance of service levels in retail and how they affect product positioning.

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Definitions:

Consumer Surplus

The discrepancy between what consumers are prepared and capable of spending on a product or service versus what they end up paying.

Decreases Price

A reduction in the cost or value of a good or service.

Consumer Surplus

The variance between the overall sum consumers can and will pay for a good or service and what they genuinely spend on it.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).