While Prestige Products and Products for the Status Conscious Command

question 211

Multiple Choice

While prestige products and products for the status conscious command high prices and are targeted toward customers with plenty of disposable income,marketers have noticed that:

• A) the rich and super-rich are getting fewer and fewer in number,and prestige pricing may become a thing of the past.
• B) most consumers don't want flashy or high-priced products and the market is dwindling.
• C) there is a trend toward increased purchase of these products,most probably for the status conscious who would not normally be considered part of the target markets for these products.
• D) styles are changing faster than ever,and it's hard to keep this market supplied with the products and services they want and avoid obsolete or out-of-date inventory.
• E) All of these.

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Definitions:

Prices Received

refers to the amount of money that sellers receive for their goods or services in the market.

Parity Ratio

A ratio used to compare the value of one thing to another, such as the price of a commodity to the price of a set of other goods or incomes.

Prices Received

The amount of money sellers actually receive for the goods or services they sell, after discounts, allowances, and deductions.

Prices Paid

The amount of money spent by purchasers to acquire goods and services.