While Prestige Products and Products for the Status Conscious Command

question 60

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than ever,and it's hard to keep this market supplied with the products and services they want and avoid obsolete or out-of-date inventory.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) sales increase when prices for these items are reduced.

Comprehend the role and benefits of communities (of practice, interest, and brand communities) for businesses.

Identify strategies for utilizing social networks for business collaboration and brand building.

Understand ethical concerns related to content curation and user-generated content.

Grasp the concept of crowdspeaking and its application in amplifying messages.

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Definitions:

Different Ages

Refers to the various stages of life at which individuals experience different physical, cognitive, and emotional development milestones.

Longitudinal

A research design that involves repeated observations of the same variables over short or long periods of time.

Retests

The procedure of administering the same test multiple times to the same subjects at different points in time to measure changes or consistency.

Research Design

The framework or blueprint for conducting a scientific study, which includes the methods for collecting, analyzing, and interpreting data.