To reduce the price sensitivity for some of its products, Washburn Guitars
A) uses multiple suppliers for its raw materials.
B) offers three months of free music lessons with the purchase of each guitar.
C) uses endorsements by internationally known musicians who play Washburn signature guitars.
D) offers a lifetime, unconditional warranty on all its instruments regardless of the price of its guitars.
E) sponsors free music programs and special Washburn guitar camps for children.

Question

Quizplus · Accepted Answer

Endorsements by internationally known musicians can create a strong brand image and perceived value, reducing price sensitivity as consumers may be willing to pay more for a product associated with famous personalities.

To Reduce the Price Sensitivity for Some of Its Products