Concept of margin in the buying process

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Assignment:

View the following video titled "Introduction to Consumer Choice" prior to responding to the questions below. When responding to each of the questions, one is encouraged to use their own experiences.

Respond to the following questions:

1. The video describes the concept of margin in the buying process. How does this concept influence your personal buying decisions?

2. The video describes how a Starbucks coffee shop has a small menu but that options for drinks results in over 80,000 potential drink combinations. Think of a second example where there is a small product menu but high levels of customization options and describe it.

3. The video describes the concept of diminishing margin utility using espresso drinks. Think of a second product example with a high rate of diminishing utility and describe it.

Each answers must be detailed with explanation and please reference.

Reference no: EM133351086

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