Describe the Mystery Shopper and How They Are Used by Marketing

question 45

Essay

Describe the mystery shopper and how they are used by marketing researchers.

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Definitions:

Consumer Surplus

The variance between a consumer's maximum price readiness for a product or service and the real payment made.

Marginal Buyer

The consumer whose desire or need for a product is the least among all buyers, often determining the highest price they're willing to pay in a market.

Demand Curve

A chart that illustrates the connection between a good's price and the amount that consumers want to purchase.

Consumer Surplus

The cleavage between the cumulative amount that consumers are willing to disburse for a good or service and their actual expenditure.