Why Do Marketers Consider Prestige Products to Be an Exception

question 62

Multiple Choice

Why do marketers consider prestige products to be an exception to the law of demand?

• A)The demand curve for prestige products slopes downward and to the right.
• B)Prestige products like diamonds,sapphires,and emeralds are non-renewable resources.
• C)Increasing the price of prestige products can make them seem more desirable.
• D)Customers are not oblivious to the price of prestige products like they are to the price of other products.
• E)Demand for prestige products often is much lower than supply.

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Definitions:

Kamehameha III

The third king of the Kingdom of Hawaii, who reigned from 1825 to 1854 and played a vital role in maintaining Hawaiian independence and enacting legal reforms.

Feathers

Flexible, lightweight structures forming the plumage of birds, often used symbolically or decoratively by humans.

Rarotonga Staff God

A traditional Polynesian religious artifact from Rarotonga, characterized by its wooden shaft and distinctive representation of deity figures, used in ceremonies and worship.

Projecting Figures

Statues or sculpted figures extended out from a surface or background, often used in architectural or artistic contexts.