Why Do Marketers Consider Prestige Products to Be an Exception

question 96

Multiple Choice

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

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

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Definitions:

Outside Sales

Sales activities conducted away from the seller's place of business, often through face-to-face meetings with potential clients.

Creative Selling

An approach to sales that involves using innovative and imaginative methods to convince potential customers to purchase a product or service.

Order-Getter

A salesperson responsible for actively seeking out, engaging with, and securing customers rather than waiting for them to initiate contact or make a purchase.

Love To Sell

A passion or deep enjoyment found in the act of selling, often characterized by a fervent desire to meet customer needs and achieve sales targets.