Consumers Are Less Price Sensitive When ________

question 111

Multiple Choice

Consumers are less price sensitive when ________.

• A) price is only a small part of the total cost spent on the product over its lifetime
• B) they perceive the higher prices to be unjustified
• C) they change their buying habits regularly
• D) there are many substitutes and competitors in the market
• E) they are buying high-cost items

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Definitions:

Brand Equity

The value and strength of a brand in the marketplace, often determined by consumer perception, recognition, and loyalty.

Social Media

Platforms where users can create, share, or exchange information and ideas in virtual communities and networks.

Brand Engagement

The forging of deep connections between consumers and a brand, characterized by frequent interaction and elevated loyalty.

Environmentally Friendly

Practices or products that do not harm the environment, often focusing on reducing pollution and conserving resources.