Products that consumers are willing to pay more for are called ________ products.
A) cult
B) limited
C) staple
D) routine

Question

Quizplus · Accepted Answer

Cult products are those that have a devoted following and consumers are willing to pay a premium price for them. These products typically have an image or lifestyle associated with them that appeals to consumers willing to pay more. Limited products are those that have a limited supply or availability, and consumers may pay more for them due to their scarcity. Staple products are basic necessities that consumers need regularly and are typically priced affordably. Routine products are everyday items that consumers purchase without much thought, and price is usually a major factor in their decision to purchase.

Products That Consumers Are Willing to Pay More for Are