Refer to the scenario below to answer the following questions. In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a shoe store, a small restaurant, and a grocery store. Over the next two decades, the small town transformed into an international tourist attraction, attracting thousands of tourists who are intrigued with the lifestyle of Shipshewana's largest population the Amish.
Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on their town's popularity and their woodworking skills. Their shop, Indiana Wood, began with a small display of handmade hickory rocking chairs, Ben Miller's specialty. But within a few months, the display at Indiana Wood included picnic tables, flower boxes, and small handmade novelty items. No other shop offers the same.
Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles per customer request. In addition, two women from the Amish community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays, the town's busiest tourist days, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town.
"Shipshewana is full of specialty shops," Mary Miller stated. "People don't come here to buy things made in China or Taiwan. They want real, Amish-made goods."
-Mary and Ben ask customers to fill out satisfaction surveys after purchasing items from the store. Customers who complete surveys are entered in a monthly raffle with the prize of a $100 gift certificate to the store. One of the questions on the survey asks customers what they had expected to pay for their purchases, and another asks what they would have been willing to pay for their purchases. Mary and Ben most likely asked these questions to help them evaluate the ________ element of their marketing-mix strategy.

Question

Quizplus · Accepted Answer

The questions about what customers expected to pay and what they would have been willing to pay relate to the price element of the marketing-mix strategy. They help Mary and Ben evaluate whether their pricing strategy is effective and whether customers perceive the value of their products.

Refer to the Scenario Below to Answer the Following Questions