When Jerry took delivery of his brand new Karuaf automobile, he was filled with pleasure and excitement as Karuaf is a very expensive brand. This is an example of the__________effect associated with the price-quality relationship
Fill in the blanks with correct word.
ANSWER: hedonistic
This is an example of the hedonistic effect associated with the price-quality relationship. High purchase prices may create feelings of pleasure and excitement associated with consuming higher-priced products. This is the hedonistic effect.
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