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Prestige Objectives Reflect Marketers' Recognition of the Role of Price

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Prestige objectives reflect marketers' recognition of the role of price in creating an overall image of the firm and its product offerings.


Definitions:

Multi-Attribute Models

Psychological models used to understand and predict consumers' attitudes and behaviors by analyzing multiple dimensions or attributes of a product or service.

Multi-Attribute Model

A psychological model used to predict customer's attitudes or behavior towards a product or brand, based on the weighted sum of its attributes.

Attributes

Characteristics or features that can be used to describe or differentiate objects, products, or individuals.

Scholarly Reputation

The regard or esteem attributed to an individual or institution based on academic achievements or contributions to a field of study.

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