Under a premium-price emphasis, a business designs products that possess _____ for which customers are willing to pay a premium price.

Question

Quizplus · Accepted Answer

A business that emphasizes premium pricing will focus on creating products with unique attributes, such as high quality, exclusive features, or superior performance. These attributes set the product apart from competitors and justify a higher price point. High costs or longer warranties may also be associated with premium pricing, but they are not the defining characteristic. High demand may or may not be present, as premium pricing is not necessarily tied to volume sales.

Under a Premium-Price Emphasis, a Business Designs Products That Possess