Most consumers realize that the quality of diamonds varies, and many 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.
A) acceptable cost
B) perceptual investment
C) barter potential
D) return on investment
E) value

Question

Quizplus · Accepted Answer

The perception that higher price indicates higher quality relates to the perceived value of the diamond to consumers.

Most Consumers Realize That the Quality of Diamonds Varies, and Many