How can economic theory explain consumers' choices and how can sellers use the theory to attract them?
Use only examples from this scenario to illustrate the theory.
IF
Hilda was meeting a new friend in a restaurant in the city centre after a shopping trip. In fact, all her local friends were new as she had just moved from Ghana to the buzzing city of Edinburgh. Despite the high study fees, she had chosen Edinburgh over a university in her home country as she believed that her career prospects would be better with a British degree.
And besides, it was great to get to know other international students. Today, she was having lunch with Amber, a Chinese girl that she had met in her course. They went for a buffet lunch in an Asian restaurant that had a lot of vegetarian options which Hilda preferred. She had two plates of starters and a larger plate for the main course. - Uuh, I'm full, but I still want to taste the desserts as I have paid for them, she said to Amber who was struggling to finish her second plate spicy meats and rice.
Amber had also recently moved to Edinburgh. Her room was furnished, but quite bare, and she had bought some indoor plants and pictures to the walls. She had £50 to spend in a local shop where the plants cost £10 each and the pictures were £15 each. Ideally, she would have had 3 pictures and 3 plants, but she settled for two each. Three plants and just one picture would have been another option.
Hilda has just bought ten sessions in a luxury gym and spa for half price. - This was a student discount.
Normally it would have cost me £150 which would have meant that I would have had no money to go to
the cinema, but now I can do both. I just love films and popcorn!
A simple cinema ticket was never enough for Hilda and with a drink and popcorn the price almost tripled from the £5 that the film alone cost
4.9
