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Explain the Concepts of 'Internal' and 'External' Information Search and How

question 28

Essay

Explain the concepts of 'internal' and 'external' information search and how these may be used to assist consumer decision making.


Definitions:

Marginal Revenue

The supplementary income earned from the sale of one extra unit of a good or service.

Pink Flamingo

a brightly colored bird known for its long legs and neck, often associated with decorative lawn ornaments in popular culture.

Artisans

Skilled craft workers who make or create items by hand that may be functional or strictly decorative.

Team Attendance

The number of people present or participating in a team event or activity.

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