Scott, a Young Professional, Buys a New BMW, Even Though

question 69

Multiple Choice

Scott, a young professional, buys a new BMW, even though a Mercedes would have cost him less.Scott values the BMW brand.This is an example of

• A) a status symbol.
• B) a market segment.
• C) paying a premium price.
• D) predictability in quality.

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Definitions:

Hierarchy Of Effects Model

A marketing model that outlines the sequential steps consumers typically go through, from awareness of a product to purchase decision.

Product Awareness

The extent to which potential customers recognize or are familiar with a product or brand.

Attitude

A person's feelings, beliefs, and behaviors toward a particular object, person, thing, or event, often guiding their choices and actions.

Lasting Evaluation

Refers to the ongoing process of assessing the long-term effects and outcomes of a product, service, or policy.