Many Consumers Are Willing to Pay $100 for a Perfume

question 77

Multiple Choice

Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What does this image pricing suggest about these consumers?

• A) They process prices from left to right.
• B) They use the price as an indicator of quality.
• C) They are rounding up the price.
• D) They are remembering an external frame of reference.
• E) They are breaking the price into smaller units.

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Definitions:

Informative Titles

These are titles designed to clearly and succinctly convey the main topic or content of a work, making it easier for readers to understand what to expect.

Informative Title

Title that highlights the conclusion to be drawn from the data.

Demand Grows

The increase in consumer desire or need for a particular product or service over time.

Audience

The group of people targeted by a message, presentation, or piece of content, whose interests and characteristics influence how the message is crafted.