A brand of cereal is perceived by consumers to be a "good deal," one that provides a certain level of comfort and satisfaction that goes well beyond the money it takes to purchase a few boxes.In this example,the cereal is considered to have:

Question

Quizplus · Accepted Answer

The description of the cereal as providing comfort and satisfaction beyond its cost indicates that it has value. This suggests that consumers are willing to pay for the product because it meets their needs and exceeds their expectations. The terms "low brand loyalty," "elasticity of demand," and "economies of scale" do not accurately reflect the perception of the cereal as a good deal.

A Brand of Cereal Is Perceived by Consumers to Be