Customers purchase prestige products or services for the status of owning the products,not just for the functionality.These products may not follow a typical demand curve if
A) people don't know the price.
B) raising the price makes more people want to own one.
C) similar products become less expensive.
D) the marketer can demonstrate that functionality is more important than prestige.
E) value is removed from the equation.

Question

Quizplus · Accepted Answer

Raising the price of prestige products can increase their desirability because they are often seen as status symbols, and higher prices can enhance their perceived exclusivity and prestige.

Customers Purchase Prestige Products or Services for the Status of Owning