problem1. Make a distinction the substitution effect and income effect of a price change and illustrate same by way of diagram for the case of normal good.
problem2. Describe with ex the paradox of value.
problem3. Illustrate the essential model of consumer decision making.
problem4. What can a loyalty programme reasonably do?
problem5. describe lifestyle market segmentation and using the holiday travel market, provide two exs of this type of market segmentation.
problem6. Describe how the use of colour can be powerful marketing tool.
problem7. Describe the meaning of the term total customer satisfaction.
problem8. What is meant by the term hedonic consumption?
problem9. List all the five principles of the Gestalt psychology.
problem10. Make a distinction between Classical conditioning and Instrumental conditioning.