Peter purchased an inexpensive necklace from a department store to give to his sweetheart,Julie,on Valentine's Day.He didn't want her to know that he did not spend very much for the jewelry,so he put it in a box he had from an upscale jewelry store that sells only expensive items.When Julie unwrapped her gift,she was excited to see that it came from this store and absolutely loved the necklace Peter gave her.Which key concept of marketing does this illustrate?

Question

Quizplus · Accepted Answer

This illustrates the key concept of branding, as Peter used the upscale jewelry store's brand to enhance the perceived value of the necklace he purchased.

Peter Purchased an Inexpensive Necklace from a Department Store to Give