Many Consumers Use Price as an Indicator of ________

question 91

Multiple Choice

Many consumers use price as an indicator of ________. Image pricing is especially effective with ego-sensitive products such as perfumes and expensive cars.

• A) quality
• B) size
• C) status
• D) capability
• E) ability

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Definitions:

Precommitments

Actions taken ahead of time that make it difficult for the future self to avoid doing what the present self desires. See time inconsistency and self-control problems.

Imposed Costs

Costs that are not chosen but are forced on a party, often by external factors or requirements such as government regulations, taxes, or fines.

Weight On Future

The importance or impact that future events or expectations have on current decision-making or attitudes.

Self-control Problems

Difficulties individuals face in resisting temptation or impulsivity, often impacting long-term goals for instant gratification.