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than ever,and it's hard to keep this market supplied with the products and services they want and avoid obsolete or out-of-date inventory.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.

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Definitions:

Compounded Monthly

Interest calculation method where interest is added to the principal balance monthly, leading to interest on interest.

Monthly Investments

Regular investments made on a monthly basis, often as part of a disciplined strategy to accumulate wealth over time.

Investment

The allocation of resources with the expectation of generating an income or profit, such as stocks, bonds, or real estate.

Compounded Quarterly

Interest calculation method where the interest is added to the principal four times a year.