Final answer:
Retailers adopting Apple Pay are likely using the method of straight rebuy (option e). Buying apples at a roadside stand or dinner at a local restaurant involves relatively low degrees of imperfect information. Economists would describe a shopper getting a 'good deal' as experiencing consumer surplus.
Step-by-step explanation:
Retailers that choose to adopt Apple Pay's digital payment service are likely employing the e. Straight rebuy method of business buying. This approach is utilized when a retailer reorders an existing product or service without any modifications or the need for further deliberation.
Apple Pay, as a standardized digital payment service, fits the criteria of a straight rebuy due to its established service offering, which does not necessitate further inspection, negotiation, or sampling.
In the context of the degree of imperfect information:
- Buying apples at a roadside stand is expected to have a relatively low degree of imperfect information because the condition and quality of the apples are visible and can be easily assessed on the spot.
- Buying dinner at the neighborhood restaurant around the corner also tends to have a relatively low degree of imperfect information as the restaurant's reputation, menu, and even some reviews might be known.
When discussing consumer behavior tactics such as the foot-in-the-door technique, a store owner might initially persuade a customer to agree to a smaller request (like purchasing the best data plan with a new smartphone) before suggesting a larger request (such as an extended warranty). The likelihood of agreeing to the larger request increases after the customer has agreed to the smaller one.
An economist would likely use the term consumer surplus to describe what happens when a shopper gets a 'good deal' on a product. This term refers to the difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.