RedFin, a company marketing deep-sea diving equipment, charges very high prices for its products. Despite the availability of many low-priced products in the market, customers seem to prefer RedFin, which has earned a reputation for selling high-quality products. This exemplifies ________.

Question

Quizplus · Accepted Answer

The scenario exemplifies a nonprice position, where customers are willing to pay higher prices for high-quality products despite the presence of cheaper alternatives in the market. This suggests that RedFin has created a strong brand image and reputation for offering superior products, which is separate from the price.

RedFin, a Company Marketing Deep-Sea Diving Equipment, Charges Very High