1. Consider the last purchase you made on sale. How did you use external and internal reference prices to determine the product's value? Do you believe the external reference price was deceptive? Why or why not?
2. Identify two stores at which you shop, one of which uses everyday low pricing and another that uses a high/low pricing strategy. Do you believe that each store's chosen strategy is appropriate for the type of merchandise it sells and the market of customers to whom it is appealing? Justify your answer.