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consumers realize that the quality of diamonds varies,and most believe the higher the price of a diamond,the higher its quality.This is an example of price influencing the perception of overall quality,and therefore __________,to consumers.
Prestige
The respect, admiration, or distinction accorded to an individual or organization from achievements, quality, or reputation.
Esteem
The respect and admiration that an individual is regarded with by others.
Esteem Needs
According to Maslow's hierarchy of needs, these are the requirements for respect, self-esteem, and respect from others, crucial for an individual's well-being.
Public Rewards
Recognition or incentives given to individuals or groups in a public setting, aimed at reinforcing certain behaviors or achievements.
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