Buyers of GTB automobiles perceive such cars as more luxurious and more prestigious than other automobiles and are willing to pay more for these cars.This is an example of the _____ effect.

Question

Quizplus · Accepted Answer

The given scenario is an example of the price-quality effect where buyers perceive the higher price of GTB automobiles as an indicator of higher quality and prestige. This perception leads to a willingness to pay more for these cars compared to other automobiles.

Buyers of GTB Automobiles Perceive Such Cars as More Luxurious