Why do marketers consider prestige products to be an exception to the law of demand?
A) The demand curve for prestige products slopes downward and to the right.
B) Increasing the price of prestige products can make them seem more desirable.
C) Demand for prestige products often is greater than supply.
D) Prestige products such as diamonds, sapphires, and emeralds are nonrenewable resources.
E) Customers are more aware of any price changes to prestige products.
B
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Researchers should avoid using statistical methods unless they are essential to derive meaning from the data.
a. true b. false
According to Michael Porter, the buyers in an industry enjoy bargaining power when ________
A) they are planning to integrate horizontally B) they purchase in large quantities from supplier firms C) supplier products represent a small portion of the buyers' costs D) the supplier's products are highly differentiated