Why Do Marketers Consider Prestige Products to Be an Exception

question 91

Multiple Choice

Why do marketers consider prestige products to be an exception to the law of demand?

• A)The demand curve for prestige products slopes downward and to the right.
• B)Increasing the price of prestige products can make them seem more desirable.
• C)Demand for prestige products often is greater than supply.
• D)Prestige products such as diamonds,sapphires,and emeralds are nonrenewable resources.
• E)Customers are more aware of any price changes to prestige products.

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Definitions:

Abilities

Abilities refer to the skills and competencies that an individual possesses, which enable them to perform various tasks or functions.

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Leaders who inspire and motivate followers to achieve extraordinary outcomes by transforming their beliefs and values.

Long-Term Needs

Future requirements or demands that will support an organization's or individual's objectives over an extended period.

Hypergeometric Probability

The probability of a given number of successes in a finite population without replacement.