consumers realize that the quality of diamonds varies,and most believe the higher the price of a diamond,the higher its quality.This is an example of price influencing the perception of overall quality,and therefore __________,to consumers.
A) acceptable cost
B) perceptual investment
C) barter potential
D) return on investment
E) value

Question

Quizplus · Accepted Answer

The higher price of a diamond influencing consumers' perception of overall quality reflects the concept of value in the consumers' mind. They believe that a higher-priced diamond must be of a better quality, which reflects the value they place on the product.

Consumers Realize That the Quality of Diamonds Varies,and Most Believe